MonetaFX Review: Monetafx.com an Obvious Scam

MonetaFX Review, MonetaFX Company
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MonetaFX Review
  • Regulation
  • Fund Safety
  • Trading Conditions
  • Customer Support
0.9

Summary

MonetaFX is an outright crypto trading scam that claims to offer its clients a great trading environment. Unfortunately, the website is a scam with no trading activity taking place. The company has poor client feedback, no customer support, and it is unlicensed. Invest with the best crypto trading companies to get the best value for your investment.

Fraudulent companies are springing up from all corners of the earth. Some of them do a great job of concealing their fraudulent operations. But, we are yet to see a company like MonetaFX. This company is an outright scam, and the founders are doing nothing to hide it.

On the surface, they look like a legal operation. However, a more in-depth look reveals shocking details, to say the least. The company wants people to believe they are a cryptocurrency trading broker. But, that is far from the truth. This is a company only after people’s money. Do not trust them with your hard-earned cash.

MonetaFX Review, MonetaFX Company

The company boasts of being a popular company among traders. This is despite being in the market for less than a year. Everything on monetafx.com is a marketing tool. Nothing is real on that website.

If you are looking to make money in the cryptocurrency market, this is not the place. You are better off with companies that have a proven track record. Invest only using legitimate cryptocurrency trading brokers to save yourself some trouble. Only such companies can provide a safe trading environment.

MonetaFX Review

Immediately you land on monetafx.com, you recognize the lack of professionalism. There is a lot of missing information on the website. The company barely mentions what they deal with. This is a common characteristic of fraudulent operations. They do this to avoid taking any liability for their actions.

Additionally, you will notice they do not mention the payment methods they support. The company leaves this information for clients to figure out. This is not a professional way of providing financial services. You should not trust a company that operates in this manner.

Further, the platform they provide is not reliable. It is not popular and looks cheap. The website looks like it only needed to present something to seem legit. It would help if you looked to invest in companies that operate an MT4 or MT5 trading platform.

Even worse, this company has only been in the market for less than a year. Even legitimate companies need more time to perfect their platforms. Nonetheless, they promise to be the best cryptocurrency broker in the market.

Interestingly, this company offers education and research training to clients. This is despite them not introducing their experts to the public. It is impossible to tell the value of this training without knowing the people behind it. Moreover, there is no guarantee that you will receive any training.

Account Types

There are four main account types on monetafx.com. These include the Basic, Managed, and two Savings accounts. These accounts differ depending on the amount of investment a client makes. However, the services are the same across the board.

The Basic account holds up to 2 BTC. It is for traders looking to make small investments in the cryptocurrency market. Consequently, the balance cannot exceed 2 BTC.

The next account is the Managed account. This holds up to 20 BTC. However, we highly advise against using this account type. You should never surrender your account management to unknown people on the Internet. At the very least, they may register a lot of losing trade. However, such individuals are more likely to drain your account before making any trade.

The last account types are Savings accounts. Both of these support up to 40 BTC. There is no clear distinction between these two Savings accounts.

As a matter of fact, there is no distinction between the four account types. Looking at the services and features on all the accounts shows no difference. The details under the accounts are identical across the board.

MonetaFX Founders and Physical Location

No fraudulent company sees the need to reveal the identities of its founders. This is the same case as with MonetaFX. Monetafx.com does not introduce us to its founders or team members. There is no telling what kind of history these people have.

There are a lot of risks involved in investing with mysterious people on the Internet. They may disappear with your cash without a trace. Moreover, they are offering you education and research material. At the very least, they should tell us the experience they have.

Even worse, it is impossible to track this company down. This is because the company provides a fake address for its headquarters. They are using the default information they found on the web template they are using. This company has no shame and continues to show how far they are willing to scam people.

Regulation and Fund Safety

You should only invest in companies that have the go-ahead to operate from a regulatory body. Regulatory bodies oversee company operations to protect investors from scammers. Unfortunately, this company has no regulations. The founders are free to do whatever they want. Avoid such companies at all costs.

They claim to comply with the laws of the Marshall Islands. Sadly, this jurisdiction does not have a reliable forex broker. They have very lax laws, making them a prime location for fraudulent operations. Therefore, you should not trust this compliance statement.

MonetaFX Scam Review, MonetaFX Customer Support

The lack of regulation means this company cannot assure you of your funds’ safety. Regulatory bodies ensure that companies have the right banking set up before licensing them. Unregulated entities do not have to meet such requirements. This means that your funds are not safe in the hands of these individuals.

Even worse, the company does not provide any evidence of systems’ protection. They do not have an SSL certificate for their website. This means that the platform is not safe from hackers. They can access the systems and steal your funds. Additionally, they may steal your personally identifiable data and use it for malicious purposes. There is just too much at stake with this company.

MonetaFX Customer Support

The front page of monetafx.com claims that customer service will take care of everything. However, we can confirm that this is just another statement that means nothing to the company. This statement came with the web template that they are using. You can tell this because there are many loose ends that the company left on the website.

For example, the company address on the front page has xxxxx. This is the same case for the support and phone sections. The company should have replaced these x’s with the company’s information. However, they did not. This shows the carelessness of the company.

This company does not even have an email address. The only way to contact them is by filling a contact form. This is absurd. You should never invest in a company that does not provide customer support.

Final Verdict

This is not a company that has a safe trading environment. The design of its operations is not ideal for any professional trader. The people behind this company only want to scam people. They have no interest in providing professional services.

They are an unregulated offshore broker with a poor trading platform. Additionally, we do not know the people behind this company. You will lose your money if you invest with them.

There are many better companies with better trading environments. Only invest in legitimate crypto brokers in the market. Only such companies can offer you the services you are looking for.

 

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