Monaxa foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://account.monaxa.com/register, about the company's legal and temporary regulatory information, the company's address .
Monaxa Forex Broker
Basic Information
Saint Vincent and the Grenadines
2-5 years Suspicious Regulatory License MT4 Full License MT5 Full License cTrader High potential riskCompany profile
Rating Index
Pros
Regulated by ASIC, providing a level of credibility and oversight.
Offers a diverse range of trading instruments, including forex, commodities, indices, and cryptocurrencies.
Low minimum deposit requirement of $15, making it accessible for new traders.
Cons
The offshore entity lacks proper regulation, raising concerns about client safety and protection.
Limited payment methods available, which may restrict convenience for some traders.
No demo account offered, preventing potential clients from testing the platform before committing funds.
Monaxa Forex Broker - Complete Information Guide
1. Broker Overview
Monaxa Ltd, established in 2013, operates as a trading company primarily from Saint Vincent and the Grenadines. This offshore entity is part of the Monaxa Group, which has a registered subsidiary, Monaxa AU Pty Ltd, in Australia. The company is privately held and focuses on providing trading services in various financial markets, including forex, commodities, indices, cryptocurrencies, and shares. Over the years, Monaxa has aimed to cater to a diverse client base, with a particular emphasis on retail traders seeking competitive trading conditions.
The development of Monaxa has seen significant milestones, including the establishment of its Australian subsidiary, which received regulatory approval from the Australian Securities and Investments Commission (ASIC) in January 2022. This strategic move has allowed Monaxa to expand its service offerings while maintaining a presence in the competitive trading market. The company's business model primarily revolves around retail forex trading, allowing individual traders to access a wide range of financial instruments through advanced trading platforms.
2. Regulation and Compliance Information
Monaxa operates under a dual structure, with its offshore entity, Monaxa Ltd, registered in Saint Vincent and the Grenadines. However, this jurisdiction does not provide licensing for forex and CFD trading companies, leaving Monaxa Ltd unregulated. In contrast, Monaxa AU Pty Ltd is regulated by ASIC, holding license number 001301357. This regulatory oversight ensures that the Australian entity adheres to strict compliance standards, including client fund segregation and investor protection protocols.
The Australian regulatory framework mandates that Monaxa maintain a minimum capital requirement and comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. Despite the credible oversight from ASIC, clients interacting with the offshore subsidiary should be aware of the potential risks associated with unregulated trading environments. The lack of investor compensation schemes in Saint Vincent and the Grenadines further emphasizes the importance of exercising caution when trading with this broker.
3. Trading Products and Services
Monaxa offers a diverse range of trading products, including over 65 forex currency pairs, various CFDs on commodities, indices, stocks, and cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. This extensive selection allows traders to diversify their portfolios and capitalize on different market opportunities.
The broker's services are tailored to both retail and institutional clients, providing access to a comprehensive suite of trading instruments. Monaxa continuously updates its product offerings to meet market demands, ensuring that clients have access to the latest financial instruments. The broker also focuses on delivering competitive trading conditions, including high leverage options of up to 1:4000, which can significantly amplify potential returns.
4. Trading Platforms and Technology
Monaxa supports two primary trading platforms: MetaTrader 4 (MT4) and cTrader. MT4 is widely recognized for its robust features, including automated trading capabilities, extensive charting tools, and a vast library of technical indicators. cTrader, on the other hand, is lauded for its user-friendly interface and superior execution speed, making it suitable for both novice and experienced traders.
The cTrader platform is available in desktop, mobile, and web versions, allowing traders to access their accounts and execute trades from anywhere. Additionally, cTrader Copy enables users to engage in copy trading, allowing less experienced traders to replicate the strategies of successful investors. This feature is particularly beneficial for those looking to enhance their trading skills while minimizing risks.
Monaxa emphasizes technology and infrastructure, ensuring that its trading platforms are equipped with advanced tools and features to enhance the trading experience. The broker also provides API access for automated trading solutions, catering to algorithmic traders seeking to implement their strategies efficiently.
5. Account Types and Trading Conditions
Monaxa offers several account types to cater to different trading preferences:
- Standard Account: Requires a minimum deposit of $15, with spreads starting from 1.8 pips and no commissions.
- Pro Account: Requires a minimum deposit of $50, offering tighter spreads from 0.9 pips with no commissions.
- Zero Account: Requires a minimum deposit of $200, featuring spreads starting from 0 pips but incurs a commission of $6 per round turn lot.
The maximum leverage available across all account types is 1:4000, which is significantly higher than many competitors. This high leverage can present both opportunities and risks, making it essential for traders to manage their exposure carefully.
Monaxa does not offer a demo account, which may be a drawback for those wishing to practice trading strategies before committing real funds. Additionally, the broker's overnight fees and minimum trade size are competitive, providing further flexibility for traders.
6. Fund Management
Monaxa supports various deposit methods, including bank transfers, cryptocurrency transactions, and local payment options, although credit and debit card payments are not accepted. The minimum deposit requirement varies by account type, with the standard account starting at $15.
Deposits are generally processed quickly, allowing traders to begin trading without significant delays. However, withdrawals are subject to a minimum amount of $100, and processing times can take up to 24 hours. Monaxa does not cover transaction fees, which may apply depending on the chosen payment method.
The absence of credit card support raises concerns, as credit card transactions typically offer chargeback options that can protect traders in case of disputes. Overall, Monaxa's fund management policies should be carefully considered by potential clients.
7. Customer Support and Educational Resources
Monaxa provides customer support through various channels, including email, online chat, and social media platforms. The support team is generally responsive, aiming to address client inquiries promptly. However, the absence of a dedicated phone support line may limit accessibility for some traders.
The broker offers multi-language support, catering to clients from diverse backgrounds. Educational resources include webinars, tutorials, and market analysis reports, which are essential for traders looking to enhance their knowledge and skills. Additionally, Monaxa provides trading tools such as calculators and economic calendars to assist traders in their decision-making processes.
8. Regional Coverage and Restrictions
Monaxa primarily serves clients from various regions, including France, Belgium, the Czech Republic, Malaysia, and Indonesia. However, the broker does not accept clients from the United States, which may limit its appeal to traders in certain markets.
The company's regional offices are primarily based in Australia and Saint Vincent and the Grenadines, reflecting its dual operational structure. Monaxa's offshore registration may pose challenges in terms of regulatory oversight, making it crucial for traders to understand the implications of trading with an offshore broker.
In conclusion, while Monaxa offers a range of trading products and competitive conditions, potential clients should carefully consider the associated risks, particularly regarding the lack of regulation for its offshore entity. Conducting thorough research and understanding the broker's operational structure is essential for making informed trading decisions.
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FX3242764680
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such a scam broker i ever try.this is first time i using this broker after claim 100% bonus..just happen today before nfp release. that shit broker take eary my po around 100pips plus from my existing po..after news i add instant entry 0.10lot x 2layer and instant float 170usd/each after entry…what the shit broker manipulate price at this moment..never happen at another broker before
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Noname3110
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Monaxa is a fraudulent platform that deliberately offers bonuses to lure investors... No matter how you trade, they will deduct profits and prevent withdrawals. I traded for a week and tried to withdraw profits, but they demanded a video holding my ID. After submitting it, they wiped out all my account profits and only returned the principal. It's a blatant scam.
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⚠️ Scam Alert – Stay Away from This Shady Broker! This so-called forex broker is nothing but a bunch of lying thieves. At first, they act all professional to make you deposit, but once you try to withdraw your own money, they start giving endless bullshit excuses. Days turn into weeks, and then they either block your account or completely ignore your requests. They are not a broker – they are pure scammers who steal people’s hard-earned money. Fucking crooks hiding behind a fake company name. No matter how much you beg or chase, they will never give you your money back. Do yourself a favor – don’t even think of opening an account here. Every dollar you deposit is as good as gone. These bastards are parasites feeding off innocent traders. Spread the word and save others from getting ripped off.
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