Complaints Policy

Complaints Process

If you are a client of MonFX Pte Ltd (“MonFX”), you can communicate the nature and details of your complaint to your account manager directly, either by phone or by email.
Alternatively, please send all relevant information to customerservice@monfx.com and our Compliance Team will log and respond to your complaint.

Complaint Resolution

Irrespective of complexity, we aim to provide the following during the complaint resolution process:

Contact Details – in our initial response, we will outline who you can speak to for further information on your complaint and their contact details

Summary – after our investigation has taken place into your issue, you will be provided with an analysis of what has been reviewed and the subsequent conclusions reached

Final Response – a closing statement will be made confirming our position on your complaint – we aim to come to a resolution with all our complainants. If this has not been achieved and you are eligible, the complaint can be brought to the Financial Industry Disputes Resolution Centre Ltd (“FIDReC”). See FIDReC’s contact details in the section Escalating Complaints.

Response Times

We are available during office hours, 9am until 5pm, Monday to Friday (excluding public holidays). You should receive a response to your initial enquiry within 2 business days. If we are unable to respond to your complaint within 2 business days of receiving it, we will update you on the status of your complaint until such a time as our investigation is complete:
For clients of MonFX, we endeavor to investigate your complaint and provide a resolution within 20 business days.
If we are unable to resolve your complaint within the given timeframes, we will contact you in writing to explain why we are not in a position to issue a final response and provide an estimate of when we expect to be able to provide one. Once our investigation has concluded, we will provide you with a final response and details on how to escalate your complaint if you remain dissatisfied.

Escalating Complaints

If you remain dissatisfied with our response to your complaint, you may be eligible to approach the Financial Industry Disputes Resolution Centre Ltd (“FIDReC”) with your case. FIDReC acts as an impartial adjudicator assisting consumers in the resolution of disputes with financial institutions; filing a complaint is free of charge.

The contact details for FIDReC are as follows:
The Financial Industry Disputes Resolution Centre Ltd
36 Robinson Road,
15-01 City House,
Singapore
068877
Tel: +65 6327 8878
Email: info@fidrec.com.sg
Website: https://www.fidrec.com.sg/website/index.html

Please refer to the following advisory for disputes with a financial institution:
https://www.moneysense.gov.sg/articles/2018/11/resolving-a-dispute-with-a-financial-institution