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If Monafoli exits the market today, you can’t receive compensation. However, if you invest with a reputable and legit venture and face bankruptcy, you stand a chance of receiving compensation
Monafoli is another offshore investment scheme. The scheme claims it has the ideal trading platform in the market. Easy to use, efficient, and profitable. They are accepting both novice and expert traders. They also have basic and advanced features. The platform advertises a free educational program.
It is a noble act for the investment scheme to provide learning materials. The problem is that we did not have the liberty of checking the data. Hence, we cannot validate if the resources are of high quality.
Investors can trade with their phones or computer. Monafoli allegedly analyzes the market on behalf of traders. You will have all the necessary materials at your disposal. The venture brags it has the best trading conditions. They have competitive spreads and high leverage. You can invest with confidence, knowing you are enjoying the best deals.
They allegedly have invested in the best security measures. Offshore schemes care less if investors’ money is safe. Sharing your data also exposes you to more risks. How can you rely on anonymous people? There is no evidence that the individuals handling traders’ money are qualified.
If you want to invest online, we recommend that you stick to investment schemes that have a trading history. The best forex trading entities have a license from reputable financial bodies. Their trading conditions do not expose traders to severe risks. You can grow your portfolio with them.
Monafoli claims it has what it takes to earn a high profit. They have a skilled team that operates around the clock. We are more interested in the trading results of the company. We cannot blindly believe that the entity is profitable. Furthermore, there are no investors that have earned from the business.
The registration process is straightforward. The scheme has five investment accounts. You can choose the one that you can afford and has the best perks. The broker claims that investors should not waste their money buying educational materials. The venture will provide all the necessary materials for free.
Monafoli is mainly targeting novice traders. You will hardly see professional investors signing up in a discreet, offshore investment platform. Nonetheless, the company also claims it has high-quality trading tools. Traders can analyze the volatile market at ease. The entity also claims it has advanced charts.
They have multiple trading assets that you can trade. It is a good thing since investors can diversify on the risks. The withdrawal process is allegedly fast. We do not recommend offshore investment firms.
Trading Conditions and Accounts
Monafoli provides a web trader interface. Given that the entity has showered itself with numerous praises, we were expecting a superior trading platform. The MetaTrader is the mother of all other interfaces. It has multiple advantages. Investors can customize EAs, the indicators, charts, and trading tools are of high quality.
The company grants a spread of 0.6 pips for the EURUSD currency pair. Investors can open trade with a fee of $6, which is favorable. However, given that this scheme is a scam, we do not recommend it. The leverage is that of 1:200. This is beyond what the regulatory body of the United Kingdom allows.
If the entity is operating legally, then it would only grant a leverage cap of 1:30. If you lose money, there is no possibility of recovering the money. Scammers push you to risky limits for you to lose money.
Withdrawal and Deposits
The platform is allegedly accepting funds via e-wallets, wire transfers, debit, and credit cards. The minim amount that investors can deposit is $10,000. The amount is too high, considering there are no unique features of the platform. They are legit brokers that accept $5.
Monafoli does not provide withdrawal information. Hence, we cannot tell which is the least amount you can cash out or fees. A legit company cannot leave out such critical information.
Contact Details and Customer Support
Of all other places, Monafoli claims to be operating from the UK. Scammers tend to use randomly generated addresses to deceive clients they are working in reputable areas. However, the virtual office can never be disclosed. This is because the authority would come after them.
Therefore, the phone number will not go through. Your emails will also not receive a response. Offshore entities do not have enough money to hire a professional customer support team. If you manage to get hold of them, you can be rest assured that they will be unethical.
Invest with a legit investment platform that understands the importance of having world-class support. You have the assurance that any issue that you face will be resolved on time. Moreover, they can also help you trade successfully.
Regulatory Status of Monafoli
Since the company claims to have offices in the UK, it should be in the Financial Conduct Authority (FCA) database. Unfortunately, after checking them out, we found that the venture is nowhere on the list of legit brokers. It is crystal clear the venture is operating on its own accord. The safety of your money is not guaranteed.
The financial body requires that all investment firms in the market must segregate funds with top-tier banks. Investors who trade with such entities have the assurance that their money is safe. The withdrawal process is also swift. In case the broker does not meet your expectation, you can quickly issue a chargeback.
Investment entities that are working solely without depositing money in financial institutions can conduct fraudulent activities. Monafoli is an anonymous venture. The financial agencies mandate them to provide qualifications of people dealing with investors’ money.
If Monafoli exits the market today, you can’t receive compensation. However, if you invest with a reputable and legit venture and face bankruptcy, you stand a chance of receiving compensation. If you want to generate an additional income, we suggest investing with the leading forex trading companies.
Are Funds Safe in Monafoli?
Unfortunately, this is a company that is most likely going to have hidden fees for its clients. We cannot validate there is trading taking place in the entity. Moreover, they do not have clients reviews. No one has successfully cashed out. You should refrain from doing business with the shady entity. There are better ways of generating money with the right firm.
Monafoli also fakes its address. They are not operating in the United Kingdom. If the data is unavailable and the parent company’s information is also missing, forget about earning with the venture.
The Domain Insight
Monafoli registration took place in June 2021. The domain name will expire in 2023. This is an offshore scheme that has multiple red flags. Therefore, they are more likely going to leave the industry when clients least expect. The information of the founder is not available. The global traffic visiting the entity is 4,081,495. Currently, we do not know the location of their clients.
Monafoli is a platform that does not care to feature sufficient information regarding withdrawals. The trading conditions of the company are also not ideal. You will be wasting time dealing with the murky entity. You should trade with some of the leading forex trading companies in the market.
Here is a list of reputable forex brokers. They have been in the market for years. They have trading performance that third parties verify. All the relevant information is featured on the website. There are no hidden fees.