We have assessed the platform Monumenttrade and determined it’s a suspicious & an unreliable organization just out there to make some profits off unsuspecting individuals. This has been flagged by several institutions due to their suspicious method of operation as well so it’s no surprise they’ve ended up on our list of questionable platforms.
How Does Monumenttrade Operate?
They claim to offer a top-notch experience for trading with minimal fees. Operating in the competitive world of online trading, Monumenttrade promises a range of features and services to attract potential traders/investors. However, the legitimacy of this platform has come under scrutiny, prompting a closer look at its operations.
As regulation is certainly not the only reason for calling out this company. You’ve probably come across lots of warnings and negative reviews about them on different platforms, let us explore other factors that raise questions about their operations.
One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘instant profit’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns.
Once the organization is confident that they have extracted all available funds from an investor and his/her network, they will then proceed to suspend the account, and the investor will no longer be able to access the funds put in.
Monumenttrade Transaction Issues
Another suspicious factor we encountered was their constant shifting excuses when it comes to shares. Your shares are never secure with this type of operating pattern. Therefore when individuals request to transact, things become complicated.
No matter how much profit you have, when it gets to the time you wish to withdraw your funds, they will stall the procedure for months. And the Support team starts to ignore your emails or give you any sort of attention.
Features About A Suspected Scam Company
We found a lot of reviews for this company. What makes us a little bit suspicious is that the websites are always made recently. Usually, it takes a lot of time, effort, and service to get this many reviews. We recommend you to check the reviews of this company manually to see if they are real or fake.
An old website is no guarantee that the site is safe. Some scam sites are even years old. However, Most scam sites are taken down after a few months as the number of consumer complaints rises.
We checked if the website is optimized for search engines. Several items are missing which most websites implement to make sure they can be found by search engines. We consider this suspicious.
Is Monumenttrade an Authentic or Fake Firm?
When searching for brokers to conduct your trading activities with, the first and most important step should always be to learn about their certification(s). This will tell you whether they are regulated by a central authority or if Monumenttrade is an unregulated entity.
When a company is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that company is licensed by the regulator in your jurisdiction.
Monumenttrade Reviews
This company has attracted many negative reviews. And users who traded with this company have lodged many complaints against it by posting reviews on multiple websites & blogs.
Additionally, when these people lose their websites, they frequently place phone calls to their former and existing customers. If this happens to you, please note it in the comment section or let us know by getting in touch with us.
Lastly, if you receive calls from other businesses do not hesitate to include their names in the remark or give them to us. We’ll also expose them.
Can I Recover my Funds from Monumenttrade?
So the worst has come to pass – you realize you parted with your money too fast, and the site you used was a scam – what now? Well first of all, don’t panic!! If you think you have been scammed, the first port of call when having an issue is to simply ask for a refund. This is the first and easiest step to determine whether you are dealing with a genuine company or scammers.
Sadly, getting your money back from a scammer is not as simple as just asking. If you are indeed dealing with scammers, the procedure (and chance) of getting your money back varies depending on the payment method you used. PayPal Debit Card/Credit card Bank transfer Wire transfer Google Pay Cryptocurrency PayPal etc.
There are quite a number of ways to Get your Money Back if you have already invested money with them. And they refuse to process your withdrawal, which is extremely likely to happen and has been happening.
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