Monaxa
Sommario：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 | 2-5 years |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | FSC (active) |
| 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 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.
Pros and Cons
| Pros | Cons |
| Long operation time | Inaccessible website |
| Diverse tradable assets | Limited payment methods |
| Various account choices | |
| Commission-free accounts offered | |
| MT4 supported | |
| Copy trading services | |
| Low minimum deposit | |
| Live chat support |
Is Monaxa Legit?
Monaxa is regulated by The Financial Services Commission (FSC) in Mauritius.
| Regulated Authority | Current Status | Regulated Country | License Type | License No. |
| The Financial Services Commission (FSC) | active | Mauritius | securities trading 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 |
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