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In this paper we present a density functional theory investigation of complex magnetic structures in ultra-thin films. The focus is on magnetically frustrated antiferromagnetic Cr and Mn monolayers deposited on a triangular lattice provided by a Ag (111) substrate. This involves non-collinear magnetic structures, which we treat by first-principles calculations on the basis of the vector spin-density formulation of the density functional theory. We find for Cr/Ag (111) a coplanar non-collinear periodic 120° Neel structure, for Mn/Ag (111) a row-wise antiferromagnetic structure, and for Fe/Ag (111) a ferromagnetic structure as magnetic ground states. The spin-polarized scanning tunneling microscope (SP–STM) operated in the constant-current mode is proposed as a powerful tool to investigate complex atomic-scale magnetic structures of otherwise chemically equivalent atoms. We discuss a recent application of this operation mode of the SP–STM on Mn/W (110), which led to the first observation of a two-dimensional antiferromagnet on a non-magnetic metal. The future potential of this approach is demonstrated by calculating SP–STM images for different magnetic structures of Cr/Ag (111). The results show that the predicted non-collinear magnetic ground state structure can clearly be discriminated from competing magnetic structures. A general discussion of the application of different operation modes of the SP–STM is presented on the basis of the model of Tersoff and Hamann.