MONAXA

Darren Ross

1-2년

Does Monaxa charge any withdrawal fees?

WikiFX 대답

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

08-22

미국

Ahmed Harb

1-2년

What is the spread on Monaxa?

WikiFX 대답

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

07-02

미국

zack18

1-2년

What is the maximum leverage offered by Monaxa?

WikiFX 대답

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

Platform

Leverage

Account

Instruments

05-23

미국

Rustam R

1-2년

Is Monaxa safe to trade with?

WikiFX 대답

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

05-21

미국