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Monnaiestech Review: A Genuine or Scam Broker?

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Monnaiestech Review: A Genuine or Scam Broker?

Monnaiestech is a copy cat of Crypton Wallet, a Crypto currency brokerage that we have reviewed here before and found to be extremely dubious. The domain monnaiestech.com was privately registered in January 2018, and as always, you need to be wary of people who create privately registered websites because most of them simply don’t have good intentions. If money will exchange hands, you need to conduct proper due diligence before you can ever trust such an operation.

Monnaiestech is a brand new Crypto currency brokerage. Even Alexa has not ranked them yet. This should be a concern because most new brokers have no solid reputation to rely on. There is no reason why you should opt to choose a Crypto broker that has no reputation over one that has existed for years and built their reputation.

If you want to know where those can be found, click here to find out. In the meantime, we are going to review Monnaiestech while addressing things that concern you. First of all, is this broker even reliable? Can they be trusted now that they are only 1 year old into the business and no one is giving any feedback about them? The answer is no, you shouldn’t trust them, and we will give reasons to support that stand.

Monnaiestech Review

You must stay away from Monnaiestech at all cost because our report has found out that they are not reliable. This broker lets its traders trade Bitcoin, Bitcoin Cash, Ethereum, Dash and Litecoin. These are the most common Crypto currencies that are traded with every other Crypto broker out there.

But to open an account when considering trading these coins, one may need to part with a minimum of $250 or a maximum of $50,000. There is no trader who can trust Monnaiestech with this much, especially when you consider their shaky reputation and also the fact that they do not have the necessary paper work in place.

Monnaiestech

In addition to this, Monnaiestech targets clients by promising them one trading signals each day. We are not so sure how good these trading signals can be. All we know is that the company does not provide evidence of successful trading using the signals they claim to dispatch to their traders every day. So while the idea of utilizing free signals from this broker may sound attractive to a newbie, the fact of the matter is that if you don’t know what the quality of those signals look like, it is better to shun that brokerage altogether.

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Monnaiestech red flags

There are many problems you can find on this site, and they are hard to ignore. The first issue is the lack of regulations or license for their activities. This brokerage offers indirect trading with contract for difference or what is known as CFDs. This means that Monnaiestech is offering derivatives as their main product, but this market is regulated all across the world.

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So the problem here is that Monnaiestech is an illegal broker who has no license but still insists on providing investment services to the members of the public. The website tells us that they are based in the UK, and that’s good. It means that they should be showing us their licensing number with the FCA. But this is not available. This means that Monnaiestech is an illegal broker and you shouldn’t rely on what the website is telling you.

Another thing is that their support phone number is for France. That means they are specifically targeting residents who are based in France. The good thing is that France regulates trading of derivatives and the bad thing is that this broker has no license from France authorities either.

If that is not a textbook definition of a scam, then we don’t know what it is. But sooner or later, this brokerage will face the consequences of their action by either getting blacklisted by the authorities or even getting arrested for operating in this market without a license.

The fake awards

They shamelessly tell us that they have won multiple awards. These can be seen at the bottom of the website. One of the problems that we have identified is that this broker claims to have won an award in 2015 but the website registration details tell us that they were founded in January 2018. This is a big fat lie and the awards are definitely fake.

The fact of the matter is that Monnaiestech could not win an award 3 years before they were founded. This also shows that the broker is nothing but a cheap scam. They don’t know how to lie because they are not smart. Your job is to avoid them before they make you a victim.

Are there any customer complaints?

There is only one customer feedback and it is a very negative one. The customer claimed that once this broker received their money and they wanted to cash out, Monnaiestech could not let them do so.

This is evidence that this broker is a scam and nothing more. Scam brokers simply don’t process such requests because their job is to steal money on the internet. Only serious brokers don’t engage in these activities. So you need to evaluate and ask yourself whether this is the kind of broker you want to do business with. As for us, this is an extremely unpleasant broker to do business with.

Is Monnaiestech a scam?

They are a scam and we are 100% sure. The site is only filled with lies in addition to showing us fake awards hoping that we will ignore the truth and fall for their lies. This is not possible.

In 2019, no victim should ever fall for a scam like this. It is cheap and pathetic.

Our best advice for you

Monnaiestech is obviously a cheap scam. It is not regulated and they know it. But they are careful not to bring up this subject because it will cause them to lose business. Don’t invest with this broker. If you want good brokers, click here. 

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