MONAXA Spreads, leverage, minimum deposit Revealed

WikiFX | 2025-01-02 11:24

Abstract：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.

　　Note: 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
Customer Support	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 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