Score
Saint Vincent and the Grenadines
|
2-5 years
| https://monaxa.com/
Website
Rating Index
MT4/5
Full License
Monaxa-Real 1
Influence
B
Influence index NO.1
Malaysia 5.19
MT4/5 Identification
Full License
United KingdomInfluence
B
Influence index NO.1
Malaysia 5.19
LicensesNo valid regulatory information, please be aware of the risk!
Saint Vincent and the Grenadines
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
monaxa.com United StatesNote: Monaxa's official website - https://monaxa.com/ is currently inaccessible normally.
| Monaxa Review Summary | |
| Founded | 2013 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | FSC (offshore) |
| Market Instruments | Forex, commodities, indices, cryptocurrencies and shares |
| Demo Account | / |
| Leverage | Up to 1:4000 |
| Spread | From 1.8 pips (Standard account) |
| Trading Platform | MT4, cTrader, cTrader Copy |
| Min Deposit | $15 |
| Copy Trading | ✅ |
| Customer Support | Live chat: weekdays, from 10 AM to 12 AM GMT+8 |
| Email: 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 | 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 |
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 |
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 | ❌ |
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 | ❌ |
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 |
| 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 |
Monaxa advertises itself as a global broker with advanced platforms and high leverage. Yet regulators have issued warnings, WikiFX found no real office in Australia, and traders report missing funds and blocked withdrawals. Is Monaxa a safe choice or a costly mistake?
Cyprus Securities and Exchange Commission (CySEC) has issued a warning to investors about 11 unauthorized firms operating without proper regulation. Below is a list of unauthorized firms that investors should avoid.
Alert for Pakistani traders: Concerns rise over Monaxa Broker. Traders report issues. Stay cautious with your investments.
Fortunately, Monaxa doesn’t charge any withdrawal fees, which is a positive for me. However, withdrawal processing times vary depending on the method. Cryptocurrency withdrawals are completed in as little as 15 minutes, which is fantastic for quick access to funds. But if you’re using bank wire transfers, the process can take up to 24 working hours. As someone who values efficiency, I’d definitely prefer to use crypto for its quicker turnaround time.
The spread on Monaxa varies depending on the account type you choose. For the Standard account, it starts from 1.8 pips, which is relatively typical for brokers in the same category. However, if you're looking for tighter spreads, the Pro account has spreads from 0.9 pips, and the Zero (ECN) account offers spreads from 0 pips, although there’s a $6 commission per lot. Personally, I find the Pro and Zero accounts to be the most attractive, especially if you’re trading larger volumes and want to keep the cost of each trade as low as possible.
Monaxa offers an extremely high leverage of up to 1:4000, which is significantly higher than what many other brokers provide. While this can be great for maximizing potential profits, I’d also be cautious because the higher the leverage, the higher the risk of losing significant amounts quickly. For anyone using Monaxa FX, I would recommend starting with lower leverage and only increasing it as you become more comfortable and experienced.
Since Monaxa is offshore-regulated, safety concerns naturally arise for me. Without regulation from a major authority, such as the FCA or ASIC, there’s less protection for my funds. While Monaxa does provide a range of assets and trading services, the absence of strong regulatory oversight could be risky for traders like me who prioritize financial security. Personally, I would be hesitant to trade large sums with a broker that lacks stronger regulatory protection.
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FX6878146882
Malaysia
⚠️ 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.
Exposure
FX3242764680
Malaysia
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
Exposure
Noname3110
Vietnam
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.
Exposure
عبد الله حرابي صالح
Saudi Arabia
Monaxa is a relatively new broker in the trading market, offering a range of tools and accounts suitable for various traders. The platform provides trading options for currencies, metals, and some other assets, with technical support available around the clock. However, it is always advisable to verify the company's licenses and compare its terms with other brokers before making any investment decision.
Neutral
طارق الأنصاري
Nigeria
I’ve been using Monaxa for a short while, and the experience has been genuinely smooth. The platform feels stable, charts load quickly, and placing trades is straightforward even during busy market hours. I reached out to support once for a verification question, and they responded politely and sorted it out faster than I expected. I also ran a small withdrawal test, and it went through successfully, which gave me extra confidence. Overall, Monaxa has delivered a clean and reliable trading experience so far.
Positive
البلوشي الهاشمي
United States
I started using Monaxa a little cautiously, but the platform has been surprisingly solid from day one. The registration process was quick, and I appreciated how easy it was to navigate the dashboard without feeling overwhelmed. Trades execute fast, even during high-volatility periods, and I’ve noticed spreads stay reasonable. I tested a small withdrawal early on just to be safe, and it went through without any issues, which gave me more confidence to continue trading. Overall, Monaxa has given me a smooth and professional experience so far.
Positive
زيد المطيري
Saudi Arabia
I was looking for a simple and efficient trading platform, and my experience with Monaxa turned out better than expected. The interface is very clear, and trades execute quickly without any lag or technical issues. What stood out most for me was the fast customer support — I reached out about adjusting my leverage, and they resolved it within minutes. I also tested a small withdrawal just to be sure, and it was processed without any delays. Overall, it’s been a comfortable and professional experience so far.
Positive
Yure
United Arab Emirates
I've been trading with Monaxa for about a quarter now, and my overall experience has been pretty consistent. I started with a small account to test their platform and I haven't encountered any significant issues with execution speed or slippage on the major pairs.
Positive
_سمية
Qatar
My account manager at Monaxa has been exceptionally proactive—whenever there’s a new promotion or update, I get a clear breakdown without needing to ask. It’s refreshing to work with a broker that not only responds quickly but also keeps clients fully informed. Monaxa stands out with the variety and consistency of its promotions, definitely more than what I’ve seen elsewhere.
Neutral
_AKEEL
United Arab Emirates
At first, I was frustrated when my withdrawal request on Monaxa was unexpectedly canceled. Naturally, I had concerns — but instead of jumping to conclusions, I reached out to their support team for clarity. To my surprise, the response was polite and informative. It turned out that the issue was due to an incomplete verification document on my end. Once I submitted the missing info, my next withdrawal was processed smoothly and without delays. This experience actually boosted my confidence in Monaxa. It showed that the platform takes compliance seriously — which is important for user security. Mistakes can happen, but what matters is how they’re handled. In this case, the communication was clear, and the resolution was fair. Overall, Monaxa remains a reliable broker in my experience.
Neutral
رشيد السبيعي
Saudi Arabia
Using Monaxa has been an excellent experience from the very beginning. Setting up my accounts was fast and smooth, and their copy-trading system has been a real game-changer for both me and my clients. Everyone is satisfied because deposits are processed quickly and withdrawals arrive on time—every time. What truly stands out is the professionalism of their service. My account manager is always available, supportive, and genuinely helps me grow my trading activities. Whether you're just starting your trading journey or looking to expand your forex business, Monaxa provides a reliable environment with real opportunities to succeed. I genuinely enjoy using the platform and confidently recommend it to anyone who is serious about trading.
Positive
زينب عبد العزيز
Saudi Arabia
What I truly appreciate about Monaxa is the diversity of trading tools and the consistency of low spreads. This gives traders great flexibility to confidently test different strategies. If there's one aspect that could use some improvement, it's the mobile app, which becomes less responsive during peak hours. A performance update would definitely make the experience smoother.
Neutral
أحمد بن محمد
United Arab Emirates
I have been using Monaxa for a few months now, and honestly, my experience has been stable and reliable. The platform runs smoothly, trades are executed without delay, and the spreads are competitive—this makes a big difference when trading regularly. The only aspect I think needs improvement is the educational content. As someone who remembers well how confusing trading was at first, I believe providing more beginner-friendly resources—like step-by-step video tutorials or live webinars—would be very helpful. Learning from texts or FAQs alone is not always sufficient. However, Monaxa has many advantages, and I believe it has a promising future. With some additional focus on supporting new traders, it could become a leading option in the market.
Neutral
علي بن عبد الله
Qatar
So far, Monaxa has proven to be a reliable broker. The platform is intuitive and easy to navigate, making it suitable for both novice and experienced traders. The spreads are usually competitive, and there is a good range of trading tools available. The trade execution speed has been stable, and deposit and withdrawal processes went smoothly in my experience. Although I haven't needed technical support much, the available resources were very helpful for getting started. Overall, Monaxa provides a stable and user-friendly trading environment. It is A promising option for anyone looking to explore the markets in a balanced and straightforward manner.
Positive
خالد بن إبراهيم
United Arab Emirates
I have been using Monaxa for a while now, and overall, my experience has been very good. The platform is user-friendly, the spreads are competitive, and there is a good variety of trading tools—something appreciated by both new and experienced traders. Trade execution is mostly smooth, and I haven't faced major issues with deposits or withdrawals. However, there is one area that needs improvement: customer support. During peak times, responses can be delayed, which can be frustrating, especially when you need quick assistance amid market movements. The fast-paced market. As the platform grows significantly, providing faster and more responsive support can make a big difference. It would be great if Monaxa could expand its support team, perhaps offering a quicker live chat option, preferably in multiple languages. Such simple improvements could boost trust and elevate the overall user experience to a higher level👨💻
Neutral
FX2995228648
Japan
The withdrawal speed is a bit slow. There are occasional deposit bonuses, so I only use those, but the slippage is terrible, so I wouldn't recommend it except for the bonuses.
Neutral
Malif Azhari
Malaysia
After 4 days waiting for my deposit to pop up but there is no coming. This broker completely ignored my ticket for days.
Exposure
FX1030212007
India
monaxa is fraud brokar mera withdrawal nahi diya isme maine deposit Kiya profit banaya lekin withdrawal nahi diya ye fraud brokar kripya isme deposit na kare aapka pesa fas jayega or withdrawal nahi dega withdrawal approve kar dega lekin aapke pas aayega nahi
Exposure
FX1205119535
Yemen
I have been trading for a year and it is the best broker.
Positive
Nurul Nurul
Malaysia
BiG SCAMMER...old client..only got deposit ..deducted all my profit and for no reason accuse me for being abuse..dont trade with this broker
Exposure