Monument Financial Group has been flagged by Central Bank of Ireland for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After since I opened my account last year with Monument Financial Group I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Great customer service|Reliable uptime
Cons: No integrated tax optimization|Wait times can be long during peak hours
The spread at Monument Financial Group is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them while looking for alternatives to my previous provider and initially thought the platform was good - until I started trading seriously.
Pros: Transparent fees|No hidden fees|Multi-currency support|Regular updates
Cons: Cannot customize dashboard fully|Onboarding videos are outdated
I referred a friend to Monument Financial Group after my brother mentioned them. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Educational resources|Multi-device support|Responsive team|Fast execution
Cons: Charting tools need more indicators|No fractional shares
Several red flags with Monument Financial Group: (1) They promise unrealistically high returns, (2) They're not registered with Central Bank of Ireland, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database
Tried to withdraw my funds from Monument Financial Group and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
The only good thing about Monument Financial Group is that they remind you why regulation matters. I found them after my brother mentioned them. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Fast execution|Helpful community forum
Cons: Currency conversion fee exists