From false ownership to lack of a license, there are many issues with Munro Financial Planners broker. The company is trying to deceive investors and get them onboard based on false pretenses.
Our unbiased Munro Financial Planners review will deal with all the issues. What’s more, we’ll highlight the most serious ones, such as regulatory warnings and withdrawals. Let’s get started.
In addition, if a brokerage firm wants to provide Forex and CFD trading services from the UK, it’s not enough to only have a registration. It must also get a license from the financial authority, FCA. This is one of the firmest regulators in the world, requiring brokers to maintain a minimum capital of 730,000 GBP at all times, provide a compensation fund of up to 85,000 GBP per account, and limit leverage to 1:30 as per ESMA.
Once we searched the FCA register for Munro Financial Planners regulation, we found the exact opposite. The regulator warned against unlicensed entities. Therefore, we can safely say that we’re unsure who actually owns Munro Financial Planners Ltd, and your money is not secure.
Munro Financial Planners and their domain munrofinancialplannersltd.com ended up on the FCA warnings list in April 2023. According to the regulatory statement, this firm may be providing financial services or products without FCA authorization.
Basically, if you deal with this firm, you cannot count on government assistance. You cannot file a complaint with the Financial Ombudsman or request reimbursement from the Financial Services Compensation Scheme.
The easiest way to check where the broker is lurking for victims is to check their traffic and the countries where they place ads. So we did just that. According to our findings, Munro Financial Planners is mainly present in the following countries:
Most of these countries have their respective regulators for the Forex market. And Munro Financial Planners Limited doesn’t comply with any. Therefore, you should steer clear and avoid this and other unlicensed brokers, such as UltraPrimeFX.
Speaking of disadvantages, there’s only one Munro Financial Planners trading platform on offer, and that’s WebTrader. The company doesn’t give you a link to it or even a picture. They state that you must register an account before getting access.
Simply put, you must supply an unregulated brokerage with your personal information and expose yourself to endless calls and emails. That doesn’t sound like a good deal for you.
In fact, it would be far better if you found yourself a legit broker with third-party platforms such as MT4, MT5, or cTrader on offer. Then, you’re sure about your private info, while you can also test the system using a risk-free Demo before deciding on anything without pressure.
What’s more, no browser-based solution can come close to the offer of MetaTrader. It’s a far superior solution in terms of functionalities and apps, as you can trade on Android, iOS, Windows, or Linux.
Another thing our broker doesn’t seem to understand is how to sort trading assets. The website lists the following:
However, CFDs or contracts for difference are not an asset class but a way to trade on certain assets, such as commodities, stocks, indices, or other instruments. Therefore, we are unsure what these CFDs might be. And without platform access, we cannot confirm it.
Since we’re doing our job as we should, here’s the list of Munro Financial Planners account types in case you need them.
Each higher account brings higher leverage, lower commissions, and more daily signals. However, you will have to take the broker’s word for it, as we cannot confirm it.
Munro Financial Planners Demo account is not available. The company doesn’t allow its customers to see the software or trade risk-free. Instead, you need a minimum deposit of $100 according to the main page or 100 GBP according to the account type.
Once you pay the money, you can easily never see any kind of platform, and a broker can vanish with your funds. This is why investing with legitimate firms that offer credible platforms is essential.
Here’s the list of available payment methods:
However, none of the legal documents specify anything about withdrawal terms or fees. As a matter of fact, we don’t even know if these methods are actually available or just stand on the website to build a broker’s credibility.
Based on the reviews, we can conclude that Munro Financial Planners’ withdrawal is nearly impossible and often requires legal aid.
If you’re one of the unlucky victims of Munro Financial Planners, it’s important to stay calm and take all the necessary steps to recover funds.
Global Fraud Protection has been in the business of assisting those who have trouble with unlicensed brokers. Our mission is to help those in need recover what’s rightfully theirs.
Don’t waste time. Book a free consultation with our chargeback experts, and let’s start working. In case you deposited via crypto, we’ll connect you with CipherTrace crypto analysts who can help you trace digital coins and collect all the evidence. We do it legally!
Munro Financial Planner is an unregulated trading brokerage. If you have any issues with withdrawals, let us know, and we might be able to help.
Munro Financial Planner only offers WebTrader without a mobile app.
Since the company has been banned in the UK and marked a fraud, your money is not safe with them.
Munro Financial Planner is an unregulated trading brokerage. If you have any issues with withdrawals, let us know, and we might be able to help.
Munro Financial Planner only offers WebTrader without a mobile app.
Since the company has been banned in the UK and marked a fraud, your money is not safe with them.
The post A Comprehensive Review of Munro Financial Planners Broker appeared first on Global Fraud Protection.
