Monetalux-Overview of Minimum Deposit, Leverage, Spreads

Note: Monetalux's official website: https://www.monetalux.com/ is currently inaccessible normally.

Monetalux is a financial broker based in the UK that offers fixed spread at 2 pips and requires a high minimum deposit of $10,000. However, since its website is currently unavailable, more detailed information about its trading conditions cannot be accessed. In addition, the broker operates without regulatory oversight.

Pros and Cons

Is Monetalux Legit?

Monetalux is not regulated by any major financial regulatory institution. Trading with an unregulated broker like Monetalux may lead to high risks, so you are advised to choose an officially regulated broker for your asset safety.

Market Instruments

Account Type

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.

Spread

Monetalux didn't 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

Monetalux only offers a web-based trading platform with limited basic functions. Given the unfriendly interface and lack of legal regulation, you should avoid this broker and choose a legitimate company that supports access to globally recognized platforms like MT4 or MT5.

Deposit and Withdrawal

Monetalux accepts deposits and withdrawals via 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 has an inactivity fee. If your trading account does not have active transactions for 6 months, it will charge a dormant account fee of 10% monthly.