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Monaxa -

Score

6.00 /10
Average

Monaxa

Saint Vincent and the Grenadines

2-5 years

Regulated in Mauritius

Retail Forex License

MT4 Full License

Global Business

Medium potential risk

Offshore Regulated

https://monaxa.com

Benchmark

D

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Comparison

Quantity 6

Exposure

Open Account
Website

Score

Regulatory Index4.62

Business Index5.68

Risk Management Index8.90

Software Index9.45

License Index4.62

Open Account
Website

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

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Company Name

Monaxa Group

Company Abbreviation

Monaxa

Platform registered country and region

Saint Vincent and the Grenadines

Company website

X

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Company summary

Pyramid scheme complaint

Expose

Check whenever you want

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WikiFX Risk Alerts
Previous Detection : 2025-01-25
  • The Mauritius FSC regulation with license number: GB23201577 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

Monaxa · Benchmark
Average transaction speed(ms)
955.9 Poor
The highest transaction speed(ms)
138 Good
The highest speed of opening positions(ms)
196 Good
The highest speed of closing position(ms)
138 Good
The lowest speed of opening positions(ms)
1837
The lowest speed of closing position(ms)
1994 Poor
Ranking： 109 / 120
Test user 193
Transactions 8,780
Ocuppied margin $367,246 USD
Data Source WikiFX Data provide
Updated: 2025-01-23 01:01:00

Exposure

6 pieces of exposure in total
Pyramid scheme complaint
Expose
Others

Monaxa deduct my profit for no reason and left my capital

22/3/2024- Deposit $5500 to Monaxa01/04/2024- $15150.04 was removed from MT4 without any notice.02/04/2024- Received a call from broker Business Development Manager. Claim that I won too much.

2024-04-11 16:17
Resolved

A BIG SCAM BROKER

Suddenly  said i break their Rules that im multiple log in with same vps and directly deducted all my credit around 22k USD!!!! i ask for live chat service to asist me and they ask me via email to contact them but   everytime i contact them they doesnt wan to answer my email and directly deducted all my credit. since i start trade from so many month.BTW i have too much transaction tht i been trade in this broker so i just roughly took some photo.

2024-04-19 16:25
Resolved

DEDUCTED MY FUND 590

Hi Avoid All Traders: This Monaxa brooker is a biggest scam in market,,, Monaxa broker has done SCAM with me and my friends also ,,,,, He close my account Mt4 107048 , my fund about 590USD in the           account but they close and disable mt4 also ,,, , I always referred to couple of friends and family           members,,,, but they SCAM 107048 USD , this amount is big amount for me,,return my amount and       close my  account

2023-09-20 17:28
Resolved

MONAXA BROKER BIGEST SCAM MARKET

Hi All Traders Avoid This borker Please!  Monaxa broker has done SCAM with me and my friends also ,,,,, He close my account Mt4 103379 , my  fund about 682 USD in the account but they close and disable mt4 also ,,, , I always referred to couple of friends and family members,This broker is a biggest scam in market,,,,,, but they SCAM 682USD ,           this amount is big amount for me return my amount and close my account

2023-09-20 17:42
Resolved

MONAXA BROKER SCAM MARKET DEDUCTED MY FUND 800

Avoide this Monaxa Broker This broker has done SCAM with me and my friends also, He close my         account Mt4 107931 , my fund about 800 USD in the account but they close and disable mt4 also ,,, ,     I always referred to couple of friends and family members,,,, but they SCAM 800 USD , this amount is   big  amount for me, return my amount and close my account

2023-09-23 19:06
Resolved

SCAM FUND 800 MONAXA broker

BIGGEST SCAM BROkER MONAXA BROKER SCAM FUND Hi Avoid All Traders: This brooker is a biggest scam in market Hi All traders,,, Monaxa broker has done SCAM with me and my friends also ,,,,, He close my account Mt4 106743 , my fund about 1071 USD in the account but they close and disable mt4 also ,,, , I always referred to couple of friends and family members,,,, but they SCAM 1071USD , this amount is big amount for me,,return my amount and close my account

2023-08-26 06:01
Monaxa · Company summary

Note: Monaxa's official website - https://monaxa.com/ is currently inaccessible normally.

Monaxa Review Summary
Founded2013
Registered Country/RegionSaint Vincent and the Grenadines
RegulationFSC (offshore)
Market InstrumentsForex, commodities, indices, cryptocurrencies and shares
Demo Account/
LeverageUp to 1:4000
SpreadFrom 1.8 pips (Standard account)
Trading PlatformMT4, cTrader, cTrader Copy
Min Deposit$15
Copy Trading✅
Customer SupportLive 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.

Monaxa's homepage

Pros and Cons

Pros Cons
Long operation timeInaccessible website
Diverse tradable assetsOffshore regulation risks
Various account choicesLimited 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 AuthorityCurrent StatusRegulated CountryLicense TypeLicense No.
The Financial Services Commission (FSC)Offshore RegulatedMauritiusRetail Forex LicenseGB23201577
Offshore regulated by FSC
Domain information

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❌
What Can I Trade on Monaxa?

Account Type/Leverage/Fees

Monaxa offers 4 types of accounts, including Standard, Pro, Zero (ECN), and Cent.

Account TypeCurrenciesMin DepositMax LeverageSpreadCommission
StandardUSD, EUR, GBP$151:4000From 1.8 pips❌
Pro$501:4000From 0.9 pips❌
Zero (ECN)$2001:500From 0 pips$6
CentUSC (cent currency)$151:1000From 1.8 pips❌
Account comparison

Trading Platform

Monaxa uses MT4 and cTrader as its trading platforms. Besides, cTrader Copy provides copy trading services.

Trading PlatformSupported Available Devices Suitable for
cTrader✔PC, web, mobileExperienced traders
cTrader Copy✔Web, mobileBeginners
MT4✔PC, web, mobileBeginners
MT5❌/Experienced traders
cTrader
cTrader Copy

MT4

Deposit and Withdrawal

Payment OptionMin Deposit/WithdrawalDeposit FeeWithdrawal FeeDeposit TimeWithdrawal Time
Local bank transfers100 USD/EUR/GBP////
Bank wire transfers////
CryptocurrenciesCoveredNot coveredAt least 15 minutesUp to 24 working hours
Deposit
Withdrawal

News

ExposureAlert Pakitan Traders: Successive Complaints Raise Concerns About Monaxa Broker

Alert for Pakistani traders: Concerns rise over Monaxa Broker. Traders report issues. Stay cautious with your investments.

WikiFX
2023-09-22 14:07
Alert Pakitan Traders: Successive Complaints Raise Concerns About Monaxa Broker
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User comment

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Comments

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Cherrie
more than one year
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.
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.
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2024-07-09 18:24
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Alonso599
more than one year
Estoy contento con este broker me toco un gran corredor de mucha experiencia que me ayudo a generar ganancias, con mi cuenta verificada el retiro se realizo en cuestión de minutos, trabajamos mucho con la materia prima oro en el cual me brindaron grandes análisis con una gran gestión de riesgo.
Estoy contento con este broker me toco un gran corredor de mucha experiencia que me ayudo a generar ganancias, con mi cuenta verificada el retiro se realizo en cuestión de minutos, trabajamos mucho con la materia prima oro en el cual me brindaron grandes análisis con una gran gestión de riesgo.
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2024-06-28 16:23
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