MONAXA

Darren Ross

1-2 سنة

Does Monaxa charge any withdrawal fees?

WikiFX رد

Fortunately, Monaxa doesn’t charge any withdrawal fees, which is a positive for me. However, withdrawal processing times vary depending on the method. Cryptocurrency withdrawals are completed in as little as 15 minutes, which is fantastic for quick access to funds. But if you’re using bank wire transfers, the process can take up to 24 working hours. As someone who values efficiency, I’d definitely prefer to use crypto for its quicker turnaround time.

Broker Issues

MONAXA

Fees and Spreads

2025-08-22

الولايات المتحدة

Ahmed Harb

1-2 سنة

What is the spread on Monaxa?

WikiFX رد

The spread on Monaxa varies depending on the account type you choose. For the Standard account, it starts from 1.8 pips, which is relatively typical for brokers in the same category. However, if you're looking for tighter spreads, the Pro account has spreads from 0.9 pips, and the Zero (ECN) account offers spreads from 0 pips, although there’s a $6 commission per lot. Personally, I find the Pro and Zero accounts to be the most attractive, especially if you’re trading larger volumes and want to keep the cost of each trade as low as possible.

Broker Issues

MONAXA

Fees and Spreads

2025-07-02

الولايات المتحدة

zack18

1-2 سنة

What is the maximum leverage offered by Monaxa?

WikiFX رد

Monaxa offers an extremely high leverage of up to 1:4000, which is significantly higher than what many other brokers provide. While this can be great for maximizing potential profits, I’d also be cautious because the higher the leverage, the higher the risk of losing significant amounts quickly. For anyone using Monaxa FX, I would recommend starting with lower leverage and only increasing it as you become more comfortable and experienced.

Broker Issues

MONAXA

Account

Instruments

Platform

Leverage

2025-05-23

الولايات المتحدة

Rustam R

1-2 سنة

Is Monaxa safe to trade with?

WikiFX رد

Since Monaxa is offshore-regulated, safety concerns naturally arise for me. Without regulation from a major authority, such as the FCA or ASIC, there’s less protection for my funds. While Monaxa does provide a range of assets and trading services, the absence of strong regulatory oversight could be risky for traders like me who prioritize financial security. Personally, I would be hesitant to trade large sums with a broker that lacks stronger regulatory protection.

Broker Issues

MONAXA

Regulation

2025-05-21

الولايات المتحدة

Chris hagerman

1-2 سنة

What is the minimum spread on Monaxa?

WikiFX رد

The minimum spread on Monaxa depends on the account type. The Standard account starts at 1.8 pips, the Pro account offers 0.9 pips, and the Zero (ECN) account can go as low as 0 pips, although it comes with a $6 commission fee. For active traders who prioritize low trading costs, I think the Zero account is the best option, as it offers the tightest spread and the potential for faster execution.

Broker Issues

MONAXA

Fees and Spreads

2025-05-07

الولايات المتحدة

TradeTimeAllWasted

1-2 سنة

How long does it take for Monaxa to process withdrawals?

WikiFX رد

Monaxa’s cryptocurrency withdrawals are processed within 15 minutes, which is incredibly fast and convenient for me. On the other hand, if you're using a bank wire transfer, withdrawals can take up to 24 working hours. If I needed my funds quickly, I would definitely opt for cryptocurrency, as I don’t want to wait too long for access to my money.

Broker Issues

MONAXA

Withdrawal

Deposit

2025-04-25

الولايات المتحدة

Sanford

1-2 سنة

What payment methods does Monaxa support for deposits and withdrawals?

WikiFX رد

Monaxa supports a few payment methods, including bank wire transfers, cryptocurrencies, and local transfers. While cryptocurrencies are a great option for fast transactions, I found that Monaxa’s selection of payment methods is a bit limited compared to some other brokers. For me, it would be nice if they offered more traditional payment methods like PayPal or credit cards, as that would make the process a lot easier.

Broker Issues

MONAXA

Deposit

Withdrawal

2025-03-09

الولايات المتحدة