This Monzaee review will analyze the broker’s operations, focusing on red flags and tips for recovering lost funds if scammed.
Monzaee Broker Overview
- Website: https://monzaeecapital.com/
- Website Availability: YES
- Headquarters Country: Saint Lucia
- Owned By: Monzaee Capital Limited
- Blacklisted by: Not recommended by the review website like Fraud Recovery Experts
- Domain Age:
- Name: MONZAEECAPITAL.COM
- Registry Domain ID: 2832778110_DOMAIN_COM-VRSN
- Registered On: 2023-11-26T03:52:03Z
- Expires On: 2025-11-26T03:52:03Z
- Updated On: 2024-12-09T14:46:13Z
Forex and CFD broker Monzaee Capital Limited was established in 2023 in Saint Lucia. The company offers a wide range of trading instruments, including currencies, metals, indices, and commodities, trading on the MetaTrader 5 platform. They have different types of accounts like Standard, Premium, Supreme, and Raw ECN Services to meet different requirements from various traders.
Warning Signs and User Complaints
The operation of Monzaee Capital has raised several warning flags. User reviews are varied and have experienced traders praising the broker while others are not so happy. Some Indian users added their exposure reviews labelling the company as a scam.
Suspicious Regulatory License
Monzaee Capital claims regulation by the Anjouan Offshore Finance Authority (AOFA). Verification of this license becomes even more challenging as the AOFA does not generally disclose the web addresses of its licensees. Doubts on the regulatory standing of Monzaee Capital have been raised further by the publication in Saint Lucia by the Financial Services Regulatory Authority (FSRA) of a caution list of entities not licensed or regulated.
Is Monzaee a Scam or Legit?
The mixed user reviews together with difficulties in ascertaining any form of the regulatory credentials and a very low trust score on most scam detectors ought to issue an extreme warning to any would-be investors. While some users have had good experiences, some serious allegations and aggravated regulatory problems cannot be swept under the rug. One would be prudent to conduct thorough due diligence in light of these factors before working with Monzaee Capital Limited.
Avoid These Popular Online and Financial Scams
Scammers have various ways to get into the minds of people and take away money from them. Here’s the list of scams:
- WhatsApp Scams: Scammers pretend to be officials, friends, or investment consultants. Their task is to lead the victim to invest in fake schemes or attempt phishing.
- Telegram Scams: Scammers create bogus groups and pose as real businesses to promote fraudulent investments, fake giveaways, and Ponzi schemes.
- Ponzi Scams: Their promise is of high returns and low risk, which is paid by new investors to earlier ones until the scheme collapses.
- NFT Scams: Scammers create bogus NFT projects, artificially inflate the price of NFTs, or simply dupe buyers into purchasing worthless digital collectibles.
- Amazon Scams: Fake Amazon representatives trick users into leaking personal details via fake order confirmation emails, refund scams, or phishing websites.
Is Monzaee Broker Legitimate?
Using the following aspects, we try to confirm the legitimacy of Monzaee Broker:
- Regulation Status: Legitimate brokers are regulated by the SEC, FCA, or ASIC. The lack of regulatory information is a big red flag.
- User Reviews and Complaints: Complaints from dozens of investors regarding lost funds and withdrawal issues point to scamming.
- Transparency and Credibility: Lack of company data, hidden fees, and misleading terms are signs of fraud.
How to Get Funds Back from Monzaee Broker?
If you got scammed by Monzaee Broker, these steps might help you recover your funds:
- Report to Your Bank or Payment Provider: Refer to transactions made without your permission and file a chargeback request.
- Collect All Evidence: All communications, transaction receipts, and screenshots should be consolidated as proof of the scam.
- Complaint Registration with Financial Authorities: Report the scam to the regulator within your country.
- Consider Seeking Professional Help: Recovery experts can follow the money trail and launch a lawsuit against the fraudulent brokers.
About Fraud Recovery Experts
Fraud Recovery Experts offer assistance to financial fraud victims in recovering their money. Our team of specialists works alongside banks and legal authorities to trace fraudulent transactions and assist them in the process of recovery.
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New fraudulent schemes targeting traders are something we are constantly keeping an eye on across the internet. Having gathered data on scam brokers for over ten years, we hardly can think of any other untrustworthy company in the market. Information about the scammers is provided below from our List of SCAM Brokers.
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