Monexfx-Some Details about This Broker

Note: monexfx's official website: https://www.monexfx.co.jp/ is currently inaccessible normally.

MonexFX, an online securities company under the ownership of Monex Group, Inc. (Securities Code 8698), positions itself as a provider of diverse trading instruments across financial markets. MonexFX implements a dynamic pricing model, tailored to transaction volume at order placement. FSA is under scrutiny, with suspicions raised regarding the authenticity of the license. Moreover, the unavailability of their official website adds to uncertainties surrounding the reliability and credibility of their trading platform.

Pros and Cons

Is monexfx Legit?

Caution should be exercised when considering involvement with monexfx, as there are red flags surrounding the legitimacy of their claimed regulatory status. The license purportedly issued by the Financial Services Agency (FSA), specifically the Retail Forex License with license number 関東財務局長(金商)第165号, is under suspicion of being a clone or counterfeit.

What Can I Trade on monexfx?

monexfx claims to offer more than 2,000 trading instruments in financial markets, including CFDs on stocks, commodities, indices, currency pairs and futures contracts like Bitcoin.

Spread

The spread varies in accordance with the volume of the order. When your trading funds is between 1,000 to 10,000 currency units, the spread starts from 0.2 pips. From 11,000 to 1,000,000 currency units, the spread is 0.3 pips. For 1,001,000 to 2,000,000 currency units, the spread is 0.5 pips.

Deposit and Withdrawal

monexfx accepts payments via bank transfers and Quick Deposit Service, including credit/debit cards, e-wallets, and online payment platforms.

Trading Time

The trading hours will change depending on winter time and daylight saving time as shown in the table below.