MonoTouch requires a Mac and Apple's iPhone SDK to test on the emulator and deploy on the device. And you will need to be an Apple iPhone developer to deploy on the device.

Additionally, MonoTouch is not supported when running on non-genuine Apple hardware (Hackintsoshes) or other OS X installations virtualized in violation of Apple's license agreement, as we're unable to perform any kind of quality assurance testing for these systems, or otherwise diagnose issues that might occur in these scenarios.