Monaxa Forex Broker

Note: Monaxa's official website - https://monaxa.com/ is currently inaccessible normally.Monaxa Review SummaryFounded2013Registered Country/RegionSaint Vincent and the GrenadinesRegulationFSC (offshore)Market InstrumentsForex, commodities, indices, cryptocurrencies and sharesDemo Account/LeverageUp to 1:4000SpreadFrom 1.8 pips (Standard account)Trading PlatformMT4, cTrader, cTrader CopyMin Deposit$15Copy Trading✅Customer SupportLive chat: weekdays, from 10 AM to 12 AM GMT+8Email: support@monaxa.com (within 48 hours) Monaxa 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 ConsPros Cons Long operation timeInaccessible websiteDiverse tradable assetsOffshore regulation risksVarious account choicesLimited payment methodsCommission-free accounts offeredMT4 supportedCopy trading servicesLow minimum depositLive chat supportIs Monaxa Legit? Monaxa is offshore regulated by The Financial Services Commission (FSC) in Mauritius.Regulated AuthorityCurrent StatusRegulated CountryLicense TypeLicense No.The Financial Services Commission (FSC)Offshore RegulatedMauritiusRetail Forex LicenseGB23201577What 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 TypeCurrenciesMin DepositMax LeverageSpreadCommissionStandardUSD, EUR, GBP$151:4000From 1.8 pips❌Pro$501:4000From 0.9 pips❌Zero (ECN)$2001:500From 0 pips$6CentUSC (cent currency)$151:1000From 1.8 pips❌Trading Platform Monaxa uses MT4 and cTrader as its trading platforms. Besides, cTrader Copy provides copy trading services.Trading PlatformSupported Available Devices Suitable forcTrader✔PC, web, mobileExperienced traderscTrader Copy✔Web, mobileBeginnersMT4✔PC, web, mobileBeginnersMT5❌/Experienced tradersDeposit and WithdrawalPayment OptionMin Deposit/WithdrawalDeposit FeeWithdrawal FeeDeposit TimeWithdrawal TimeLocal bank transfers100 USD/EUR/GBP////Bank wire transfers////CryptocurrenciesCoveredNot coveredAt least 15 minutesUp to 24 working hours