The website belongs to a company in the United Kingdom, which also has an office in Switzerland. Meanwhile, no document would confirm this information. Note that the brokerage firm claims to have an award-winning platform and the best team in the industry. However, there is no proof of this either.
Has this project proven itself to be reliable? Does it guarantee security to its clients? You will find out from our MonumentalSphere review, where we will look at the legal aspects and the level of service provided by this broker.
How to Trade
The company offers clients to earn money by trading fiat and digital currencies, commodities and other assets. You can choose an account from 5 variants of trading plans. The broker promises to provide:
- Spreads from 0.0 pips.
- More than 300 instruments.
- Support in 24/5 mode.
- Fastest withdrawal.
The minimum deposit of $10,000 is too high. The leverage, spreads, commissions and other important parameters are not disclosed.
The firm’s 6 internal documents regulating client relations have different names but the same text: Bonus Terms and Conditions. The registration form contains a link to the Terms and Conditions, which leads to the homepage of the website.
MonumentalSphere Vital Info
The intermediary hides the history of the project, the data of the founders and managers. Why such secrecy? Looking at the date of domain creation, June 24, 2024, we understand that the information about numerous awards is obviously exaggerated. Probably, in this way, the broker wanted to divert visitors’ attention from the short lifespan of the platform. However, a fresh domain is not a reason to doubt the company’s honesty, which cannot be said about fake prizes allegedly received by the “best team in the industry”, which has been operating for only 2-3 months.
We checked the brokerage company’s licenses in FINMA and FCA registries, but did not find any MonumentalSphere Management Ltd in the lists of regulated organizations in the United Kingdom and Switzerland. This firm is not in the global database of registered legal entities either. So, it is quite possible that site owners provide financial services outside the legal framework.
I am used to working on MT4. It's good that the broker supports this terminal. From the pluses - a lot of assets, and high leverage. You can use PAMM for additional income. The platform is simple and intuitive. There are no questions about the functionality. There are many useful options :)) However, MonumentalSphere also has disadvantages - rather high commissions and not very fast technical support. Although I contacted support only once in 2 months, this is also an indicator of the service level. Online transfers cannot be used, although for me it would be easier. There is support for crypto wallets in addition to bank cards, and this already makes deposit/withdrawal more flexible. Besides trading with MonumentalSphere, I am actively developing as a referral program partner. I advertise my referral link everywhere. This gives me the most diversified source of income possible. If I haven't earned anything from trading, the referrals will give me some profit. Of course, trading on my own is more profitable.
As I understand, the company wants to lure as many clients as possible. MonumentalSphere is very active on exchange portals. There are constant comments from their partners. They invite you to register on monumentalsphere.com, post referral links. However, why then such a bad attitude to traders?!! I came to them on the invitation link that my manager sent me in my social network account. He offered to open an account, wrote that even crediting is possible, depending on the amount I deposit. I decided to work with MonumentalSphere. I deposited £10k and my account was blocked after a week. The manager explained that the company was doing some account reconciliation, double-checking personal data. He said that there is a random double-check procedure - the security staff supposedly pick a client at random, and start double-checking his account within 3-5 days. However, 2 weeks have passed, and my account is still not unblocked, and the manager does not contact me...
Why do traders continue to believe in the honesty of such primitive scam projects? Do they not check anything and just take the word of unknown scammers? Is it so easy and simple for them to say goodbye to 10,000 dollars???? I could still understand the belief in deception, when a pseudo-broker disguises itself perfectly, but there is no evidence of legitimacy at all, not even fabricated documents. This is a pathetic parody of a legitimate company, which is very easy to expose. There are a lot of free services. There is nothing supernatural in such a simple check of registration and license.
I invested 17,000 usd in this firm, hoping to get income and with the dream of developing my creative projects with this money. Instead, I received deception, bitterness and disappointment. How can crooks play so heartlessly with other people's dreams and money!!!? This is cruelty and total disrespect for people. I lost not only my money but also my faith in honesty.
I have not traded on this platform, so I can't say anything about the withdrawal procedure. I have not tried it on practical experience. Judging by the trading conditions, it is profitable to work here - there is a PAMM account, referral program, which means that there will be no problems with earnings. Spreads are adequate, and the platform is functional at Monumentalsphere. I am confused only by the fact that the broker has no license. I requested the regulatory body of Switzerland and received a negative answer. I was immediately suspicious about the regulation of the company, as there were no copies of the licenses on monumentalsphere.com, and in fact there was no supervision. Of course, I know that there are firms that even without a brokerage license provide clients with quality and honest service, but still, I want to have real guarantees, not just empty words about the reliability of the platform.
A broker that is not regulated by the UK regulator should in principle not be considered a brokerage partner by traders. A lot of companies have been licensed by the FCA, so you can safely choose the most suitable one and work through it in the forex market. Besides, it is better not to trade shares and commodities through CFD-firms, because these are contracts, not spot. Dividends are not paid and there are many other disadvantages. Regarding the monumentalsphere license, once again - this is a problem when a UK firm is unregulated. You will have no protection in case of fraud, deception and other breaches of the law by the broker.
Hi. I've been working with this intermediary for not too long, but I'm already planning to look for another company. I'm already fed up with the problems that occur on a daily basis. Withdrawal of money here is constantly delayed. The work of the trading terminal is disgusting. There are terrible hang-ups. I had problems with the company in different situations, but according to their rules, the broker is always right.
On the one hand, I saw here not bad trading conditions and full compliance with the contract. Payouts are guaranteed to arrive to my cryptocurrency wallet, and there are no violations of the withdrawal regulations. Everything is on time. From this side - the broker is great! However, there are a number of negative features of MONUMENTALSPHERE that spoil the picture. I registered here less than half a year ago, but I have already faced problems more than once. First of all, it's support. It's hard to get in touch with them! Operators call back after 2-3 hours. Secondly, I can receive a loan service from the broker, and such offers constantly flood my email. I can't unsubscribe from MONUMENTALSPHERE's mailing list for contract terms and I have to read all these emails very carefully because I may automatically agree to a bonus or changes in terms. I don't see any check marks or clicks anywhere in the text until I read everything!!! I went through an account lockout, with MONUMENTALSPHERE staff treating me very improperly like I was a scammer. Then I didn't hear any explanation, apology, nothing :(( My account was unlocked after 3 days, but I feel very bad.