Read our Monafoli review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a monafoli.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Monafoli is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Monafoli in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Monafoli Review Conclusions
Making the Monafoli review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Monafoli review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Hallo, ich habe vor kurzem Bekanntschaft mit Monafoli.com gemacht. Zunächst erschien die Werbung zur Investition in Kryptowährungen irgendwo im Netz.
Der Zugang zum Monafoli war sehr einfach, genauso wie die Erläuterungen für mich schlüssig und vertrauenerweckend erschienen. Eine Einzahlung des Startkapitals war ebenfalls sehr leicht. Das Gute war, dass diese von meiner Kreditkarte erfolgte.
Zunächst sah alles sehr schlüssig und erfolgversprechend aus. Ich hatte sofort einen Ansprechpartner, der sehr engagiert und hilfsbereit erschien, bis der nach zwei Kontakten plötzlich aus privaten Gründen nicht mehr zu erreichen war. Ein anstehender Termin fand nicht statt und nach Rückfragen bei Monafoli bekam ich schließlich einen Anruf von einer neuen Mitarbeiterin, welche sich als meine neue Betreuerin vorstellte. Allerdings reichte deren Kompetenz nur für ein Telefonat. Dann, einen weiteren verpassten Termin später, wurde mir über Monofoli mitgeteilt, dass diese Mitarbeiterin plötzlich ins Krankenhaus musste und ich im laufe des Tages angerufen würde. Das war der letzte Kontakt zu Monafoli. Mittlerweile sträubt sich jeder Browser die Seite Monofoli.com zu finden und zu öffnen. Meine Investition konnte ich dank der Kreditkartenzahlung wieder zurück hohlen. Von dem angeblichen Gewinn auf dem Webtrader allerdings habe ich, trotz Auszahlungsanforderung, nichts gesehen.
Fazit: Monafoli ist der Inbegriff eines Fakes und einfach nur Betrug.
Leichtgläubigkeit ist das, worauf die Betreiber der Seite setzen und ja, ich war ein Opfer von Monafoli wegen meiner Leichtgläubigkeit. Finger weg, fall die woanders nochmal auftauchen. Die Börse hat nichts zu verschenken, sonst wäre es einfach viel Geld eben mal so nebenbei dort zu verdienen.
Wer keine Ahnung vom Börsengeschäft hat, sollte sich entsprechend dafür ausbilden lassen, was nicht billig und mit Ausdauer und Fleiß einhergeht oder einfach die Finger davon lassen.
Yes all this is true they scam you, trying to get my money to no help from monafoli. they tried plenty of times for more mone, but i would not, now no more calls. hmmmm
It’s a scam trader, I wanted to withdraw the fund,instead transfer the fund to my wallets, ask me to put in more money into their cold wallets to facilitate the transfer process. Ask why? Reason because the fund is big amount so my Luno wallets need this money as security. I refuse, and they put me to the Account manager, and this time this money became service fees. every time call with a different phone number, call back the number,the number is not in service.
Not the case, sorry.
SCAM !!!
Good luck getting any money out of them. They show profits and talk millions but you won’t be able to get a penny back.
Normal, regulated trading companies give you your money back, no matter the amount in 24 hours , tested and reviewed. BIG SCAM !!!
It is a scam. If you want to be harrassed and called twenty times a day to invest more… also tell you to become a legal trader.. be my guest
They still from me 26000$ et they don’t give ut back to me, they are asking me to send 20000$ more to send me 26000$ ridiculous, not honest, don’t trust them
Not the case, sorry.
SCAM !!!
Good luck getting any money out of them. They show profits and talk millions but you won’t be able to get a penny back.
Normal, regulated trading companies give you your money back, no matter the amount in 24 hours , tested and reviewed. BIG SCAM !!!
Scam Warnings Against Monafoli Broker
Once there were too many Monafoli complaints, the UK regulatory body FCA issued an official warning against the brokerage.
Warning Issued by FCA
FCA About Monafoli Trading Scam
Monafoli is a scam . When I want to withdraw the money of EU12000 , Account manager Felix Stein and Timothy Siniar (Finance department) insisted that I have to deposit the same amount into a cold wallet address in order to process. I refuse and they Closed my account
You are sick my friend.Everytime i ask for my money i get different answers….your monafoli is a scam….and why do i need to pay all that money to have my funds tranferd to my account…Is because you want to scam more money…..TOU A SCAM AND NOTHING MORE..
tHEY ALSO froze MY account BECAUSE I NEED TO PAY FOR THERE SERVISES….SO NOW I HAVE NO ACCOUNT….scam scam scamers..
All reviews are true.
Hopefully somebody catch them finally.
hmmm they eill never be caught…..they need to or govern by nobody….i still see adds from them…i get phone calls from them…for money…they have frozen my account with 16,00.00 eros….they are a big scammmjust like others..
I have put in nearly $200,000, which was all my super. Now I need anther $120,000in my bank account as equity, before I can get my money back
Have I been scammed l, please tell me no!!
Scam from the very first phone call, it is all a lie and a manipulation and I lost $5000, maybe it can be recovered but not directly through speaking with monafoli. My advice STOP TAKING THERE CALLS, NEVER GET ON ANYDESK WITH THEM AGAIN and realize every word they say is a complete fabrication. They called me from a local number, and I did pick up, not expecting them. My new account rep tried to bully me into compliance and when that didn’t work they got angry, dropped some Fbombs and other swear words and hung up.
I have over $14000 euro in my account cannot get out I paid $2020 to get my money back they put in my account by mistake gave me a story they were sorry now they want more money to get my money
Walter Rayfield , Canada. Worked. up to $55k in Arbitrage thru.CFO ,TONY HOWARD. WEBTRADER showed $109,000 in computer algorithm trades by Jan.25,2022. I asked to close my account , needed money for medical, they dont care ,not a cent back, It has been 96 days they have been trading my money for themselves. I hired ACTION REFUNDS of Israel ( licenced they said) Letters sent to all my contacts WISE,NDAX,ROYAL,SIMPLII and Coinsmart ,tried to fraud them 4 times consecutively, but they sent instant emails which I said FRAUD. NOT A PENNY RETREVED, BEWARE OF RECLAIM COMPANIES AS WELL! Oh this cost me another $5k as well and we sent out the letters for reclamation.
I’m from Sweden and i have also been scammed by Monafoli.
They trying to call almost every day but i want answer cause they just want more money. They say it’s for taxes and more som i can get my “profit”. I have lost around $25000 because of them. Hope someone can make their lifes a as bad as they made ours.
Monafoil has sold the company, Monafoli.net (monafoli financial) is tasked with paying off left over customers. GOOD LUCK, I have been fighting with them since MAY this year. They have $76000.00 CDN and keep finding excuses , taxes etc, not to send the money back. They blame the blockchain ,YOUR WALLET, synchronisation which is gobly goop to me, just things and reasons I dont understand. My total with hold is $82000 USD and as of yesterday they still have it. They want me to sign up with a new Toronto Coin Company and then we can get outer money transfered, if we pay them another$8200 CDN to start. Out OPP stand by dont pay them any more and think shy should I if they collected $76000 CDN cash ! Our great police RCMP ,the only ones that can do anything are not interested in Canadians being defrauded. Dont deal with the EU.& UK.