Monetalux Forex Broker

Note: Monetalux's official website: https://www.monetalux.com/ is currently inaccessible normally.Monetalux Review SummaryFounded/Registered Country/RegionUKRegulationUnregulatedMarket InstrumentsForex currency pairs, commodities, stocks, indices and cryptocurrenciesDemo Account❌Leverage/EUR/USD SpreadFixed at 2 pipsTrading PlatformWeb-basedMinDeposit$10,000Customer SupportEmail: support@monetalux.comPhysical Address: Wenlock Road 20-22 N1 7GU London Unitied Kingdom Monetalux is a financial broker based in the UK that offers fixed spread at 2 pips and requires a high minimum deposit of $10,000. However, since its website is currently unavailable, more detailed information about its trading conditions cannot be accessed. In addition, the broker operates without regulatory oversight.Pros and ConsPros Cons Various market instrumentsLack of regulationUnavailable websiteExtremely high minimum depositUnreliable trading softwareInactivity account fee chargedIs Monetalux Legit? Monetalux is not regulated by any major financial regulatory institution. Trading with an unregulated broker like Monetalux may lead to high risks, so you are advised to choose an officially regulated broker for your asset safety.Market InstrumentsTrading AssetAvailableforex✔commodities✔stocks ✔indices✔cryptocurrencies✔bonds❌options❌ETFs❌Account Type There are four live trading accounts offered by Monetalux, namely Classic, Silver, Gold and VIP. Opening a Classic account requires the minimum initial deposit amount of $10,000, while the other three account types with the much higher minimum initial capital requirements of $50,000, $100,000 and $250,000 respectively.Spread Monetalux didn't disclose any information about spreads on its official website. However, we found the spread for EUR/USD pair is fixed at 2 pips under the circumstance of registration.Trading Platform Monetalux only offers a web-based trading platform with limited basic functions. Given the unfriendly interface and lack of legal regulation, you should avoid this broker and choose a legitimate company that supports access to globally recognized platforms like MT4 or MT5.Trading PlatformSupported Available Devices Suitable forMT4❌/BeginnersMT5❌/Experienced tradersWeb-based ✔Computer/Deposit and Withdrawal Monetalux accepts deposits and withdrawals via credit/debit cards and bank transfers. The minimum deposit requirement is $10,000. The broker also charges some withdrawal processing and handling fees, yet no specific information about fees is involved. As for the processing time of withdrawal requests, withdrawals usually take 2-5 days to process.Fees Monetalux also has an inactivity fee. If your trading account does not have active transactions for 6 months, it will charge a dormant account fee of 10% monthly.