Monetalux

Note: Since Monetaluxs official site (https://www.monetalux.com/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

Monetalux is allegedly a forex broker based in the UK that provides its clients with a web-based trading platform, fixed spreads at 2 pips on a variety of tradable assets, as well as a choice of four different account types.

Market Instruments

Monetalux advertises that it is a multi-asset platform with a wide range of trading instruments in financial markets, including forex currency pairs, commodities, stocks, indices and cryptocurrencies.

Account Types

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.

Spreads

Monetalux didnt 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 Available

When it comes to trading platforms available, Monetalux gives traders a web-based trading platform (see the below screenshot). Whatever, we suggest you use MetaTrader4 or MetaTrader5 as the trading platform. As most traders know, the MT4 and MT5 are known as the most successful, efficient, and competent forex trading software. The MT4 offers an intuitive and user-friendly interface, advanced charting and analysis tools, as well as copy and auto-trade options. While the MT5 allows traders to execute trades on different financial markets through a single account and there is a hedging option.

Deposit & Withdrawal

Monetalux accepts deposits and withdrawals with 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 takes an inactivity fee. If your trading account does not have active transactions for six months, it will charge a dormant account fee of 10% monthly.

Customer Support

Monetalux‘s customer support can be reached by email: support@monetalux.com. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most brokers offer.