Monaxa Forex broker specializes in providing foreign exchange trading services, the company's official website https://account.monaxa.com/register, the company's legitimate regulatory information MauritiusFSCRetail Forex License, to enhance the security of the company's address .
Monaxa Forex Broker
Basic information
Saint Vincent and the Grenadines
2-5 years Regulated in Mauritius Retail Forex License MT4 Full License MT5 Full License cTrader Global Business Medium potential risk Offshore RegulatedCompany profile
Note: Monaxa's official website - https://monaxa.com/ is currently inaccessible normally.
Monaxa Review SummaryMonaxa was registered in 2013 in Saint Vincent and the Grenadines. On its platform, customers can trade forex, commodities, indices, cryptocurrencies, and shares. It provides various types of accounts, with a minimum deposit of $15 and a maximum leverage of 1:4000. Besides, it offers bonuses and copy trading services. However, it should be noted that this company is offshore regulated, which means potential risks may exist.
Pros and Cons
| Pros | Cons |
| Long operation time | Inaccessible website |
| Diverse tradable assets | Offshore regulation risks |
| Various account choices | Limited payment methods |
| Commission-free accounts offered | |
| MT4 supported | |
| Copy trading services | |
| Low minimum deposit | |
| Live chat support |
Is Monaxa Legit?
Monaxa is offshore regulated by The Financial Services Commission (FSC) in Mauritius.
| Regulated Authority | Current Status | Regulated Country | License Type | License No. |
| The Financial Services Commission (FSC) | Offshore Regulated | Mauritius | Retail Forex License | GB23201577 |
What Can I Trade on Monaxa?
Monaxa provides a number of products, including forex, commodities, indices, cryptocurrencies, and shares.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Cryptocurrencies | ✔ |
| Indices | ✔ |
| Shares | ✔ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type/Leverage/Fees
Monaxa offers 4 types of accounts, including Standard, Pro, Zero (ECN), and Cent.
| Account Type | Currencies | Min Deposit | Max Leverage | Spread | Commission |
| Standard | USD, EUR, GBP | $15 | 1:4000 | From 1.8 pips | ❌ |
| Pro | $50 | 1:4000 | From 0.9 pips | ❌ | |
| Zero (ECN) | $200 | 1:500 | From 0 pips | $6 | |
| Cent | USC (cent currency) | $15 | 1:1000 | From 1.8 pips | ❌ |
Trading Platform
Monaxa uses MT4 and cTrader as its trading platforms. Besides, cTrader Copy provides copy trading services.
| Trading Platform | Supported | Available Devices | Suitable for |
| cTrader | ✔ | PC, web, mobile | Experienced traders |
| cTrader Copy | ✔ | Web, mobile | Beginners |
| MT4 | ✔ | PC, web, mobile | Beginners |
| MT5 | ❌ | / | Experienced traders |
Deposit and Withdrawal
| Payment Option | Min Deposit/Withdrawal | Deposit Fee | Withdrawal Fee | Deposit Time | Withdrawal Time |
| Local bank transfers | 100 USD/EUR/GBP | / | / | / | / |
| Bank wire transfers | / | / | / | / | |
| Cryptocurrencies | Covered | Not covered | At least 15 minutes | Up to 24 working hours |
Rating Index
ZERO
PRO
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Latest Reviews
Alonso599
Ecuador
I am happy with this broker, I got a great broker with a lot of experience who helped me generate profits. With my verified account, the withdrawal was done in a matter of minutes. We work a lot with the raw material gold, in which they provided me with great analysis and risk management.
Positive
2024-06-28
Alonso599
Colombia
What I like is that withdrawals are very fast
Positive
2024-06-04
Cherrie
Malaysia
Monaxa has some solid leverage options, which is cool if you're into that kind of thing. And their customer service is really good, they're always there to help if you need it. Overall, Monaxa's got some good things going on.
Neutral
2024-07-09