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Monaxa -

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Score

2.20 /10

Danger

Monaxa

Item: Monaxa
Rating: 2.20

Saint Vincent and the Grenadines

2-5 years

Suspicious Regulatory License

MT4 Full License

High potential risk

https://monaxa.com

Benchmark

Influence

Add brokers

Comparison

Quantity 8

Exposure

Open Account

Website

Score

Regulatory Index0.00

Business Index5.96

Risk Management Index0.00

Software Index9.48

License Index0.00

Open Account

Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard

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

Single Core

40G

open now

Broker Information

Company Name

Monaxa Group

Company Abbreviation

Monaxa

Platform registered country and region

Saint Vincent and the Grenadines

Company website

https://monaxa.com

Facebook

https://www.facebook.com/profile.php?id=100087165637545

Instagram

https://www.instagram.com/monaxa.official/

YouTube

https://www.youtube.com/@monaxaofficial

https://www.linkedin.com/company/monaxa-official/

Company summary

Pyramid scheme complaint

Expose

Monaxa · Company summary

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

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Warning: Low score, please stay away!

Previous Detection : 2025-07-03

It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Overview

Biz Area

WikiFX Survey

Website

MT4/5

Genealogy

Clones

Keywords

Account

Time Machine

Monaxa · Benchmark

Average transaction speed(ms)

315.5 Great

The highest transaction speed(ms)

241

The highest speed of opening positions(ms)

216

The highest speed of closing position(ms)

241

The lowest speed of opening positions(ms)

885 Great

The lowest speed of closing position(ms)

382 Great

Ranking： 111 / 130

Test user 103

Transactions 1,705

Ocuppied margin $417,348 USD

Data Source

WikiFX Data provide

Updated: 2025-07-01 01:07:00

Benchmark	C
Maximum Leverage	1:4000
Minimum Deposit	$200
Minimum spread	as low as 0
Products	Forex, Indices, Metals, Energies, Stocks CFD, Cryptos, Futures

Currency	--
Minimum position	0.01
Supported EA
Depositing Method	--
Withdrawal Method	--
Commission	--

Exposure

8 pieces of exposure in total

Pyramid scheme complaint

Expose

Scam

BiG SCAMMER...old client..only

BiG SCAMMER...old client..only got deposit ..deducted all my profit and for no reason accuse me for being abuse..dont trade with this broker

2025-06-16 09:27

Scam

monaxa is fraud brok

monaxa is fraud brokar mera withdrawal nahi diya isme maine deposit Kiya profit banaya lekin withdrawal nahi diya ye fraud brokar kripya isme deposit na kare aapka pesa fas jayega or withdrawal nahi dega withdrawal approve kar dega lekin aapke pas aayega nahi

2025-07-01 16:55

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

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

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

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

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

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
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)

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

News

ExposureCySEC Warns Investors Against 11 Unauthorized Firms

Cyprus Securities and Exchange Commission (CySEC) has issued a warning to investors about 11 unauthorized firms operating without proper regulation. Below is a list of unauthorized firms that investors should avoid.