Monaxa's cashback program works by returning a portion of the spread in cash for each trade. Simply open an account through a cashback website and trade as usual to automatically receive the cashback. This article provides a detailed explanation of Monaxa's cashback program, from its features and mechanisms to the specific steps for opening an account and recommended cashback websites
Contents
- 1 What is Monaxa's cashback program?
- 2 Features of Monaxa Cashback
- 3 Steps from opening a Monaxa account to receiving cashback
- 4 Recommended sites that support Monaxa cashback comparison
- 5 Common mistakes and things to watch out for with Monaxa cashback
- 5.1 Mistake 1: Opening an account without going through a cashback site
- 5.2 Mistake 2: Assuming that cashback will be applied to existing accounts
- 5.3 Failure #3: Overlooking the fact that bonuses and cashback cannot be used together
- 5.4 Failure 4: Failure to meet the minimum holding time requirement
- 5.5 Failure 5: Incorrect registration of account number
- 6 Frequently Asked Questions (FAQ)
- 7 summary
What is Monaxa's cashback program?
Monaxa's cashback program is a system where a portion of the spreads and fees incurred in overseas forex trading with Monaxa are returned to traders as cash. By opening an account through a cashback site (IB: Introducing Broker), rebates are automatically generated with every trade
Basic mechanism of cashback
The process for receiving the cashback is as follows:
- Traders open Monaxa accounts through cashback websites
- Conduct FX trading as usual
- A portion of the spread and fees incurred for each transaction is paid to the cashback site
- Cashback sites give a portion of the money back to traders
This system allows traders to effectively reduce their transaction costs. The higher the trading volume, the greater the return, making it particularly beneficial for traders who trade frequently, such as scalpers and day traders
Why is cashback important at Monaxa?
Monaxa, as an overseas forex broker, offers a wide range of trading products and flexible leverage, but trading costs (spreads and fees) can be a factor that puts pressure on profits. By using cashback, you can enjoy the following benefits:
- Effective spread reduction: Trading costs are lowered by a rebate of several dollars per lot.
- Rewards are given even for losing trades: Rewards are given regardless of whether the trade is successful or not, as long as the trade is completed.
- Almost no extra hassle: Simply open an account through the platform, and then trade as usual.
- Withdrawals are free: The returned cash can be freely withdrawn or reinvested.
Features of Monaxa Cashback
Monaxa's cashback program has several broker-specific features. Since the cashback rates and conditions vary from one cashback site to another, it's important to check them beforehand
Cashback rates by account type
Monaxa offers several account types, and the cashback rate varies depending on the account type. The following is a general guideline
| Account type | Spread Trends | Cashback reward guideline |
|---|---|---|
| Standard Account | Slightly spacious | The cashback amount tends to be high |
| ECN account / Raw spread account | Small (additional fee applies) | The cashback amount is somewhat low |
| Micro account | Wide | Suitable for small transactions; the cashback amount is small |
Generally, account types with wider spreads offer larger absolute cashback amounts, but it's important to choose one that balances this with the actual costs
Summary of the main features of Monaxa cashback
- Rewards are automatically generated with every transaction
- The return rate varies depending on the account type and currency pair
- The cashback rate varies depending on the cashback site
- Whether or not bonuses can be used in conjunction with the cashback offer depends on the terms and conditions of the cashback website
- Minimum trading volume and holding period requirements may be in place
Steps from opening a Monaxa account to receiving cashback
To receive the Monaxa account opening cashback, you need to open a new account through a cashback website. Following the steps below will make the process easy, even for first-time users
Step 1: Register for free on a cashback website
First, create an account on a cashback site that supports Monaxa
Specific actions:
- Access the official website of the cashback site (e.g., Money Charger)
- Enter your email address and password to complete your free registration
- Once you receive the registration confirmation email, click the link to verify your account
Note: Registration is free and there are no fees. The cashback site is funded by IB commissions from brokers, so there is no cost to the trader.
Step 2: Open a Monaxa account through a cashback website
From your My Page on the cashback site, click the Monaxa account opening link to create a new account
Specific actions:
- Select Monaxa on the cashback site's dashboard
- Click the "Open an Account" button to be redirected to the official Monaxa registration page
- Enter the required information such as your name, email address, and phone number
- Select an account type (Standard / ECN, etc.)
- Upload your identity verification documents (ID card/proof of address)
Important Note: Please be sure to open an account through a link provided by a cashback website. Accounts opened directly through the Monaxa official website are not eligible for cashback.
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Step 3: Register the newly opened account number on the cashback website
Once your account is opened, link your account number to your My Page on the cashback website
Specific actions:
- Check your account number in the account opening confirmation email you receive from Monaxa
- Return to My Page on the cashback site
- Enter your account number and apply via "Account Registration" or "Add Account"
- Wait until the linking is approved (usually a few hours to 1 business day)
Important Note: If you enter your account number incorrectly, your cashback will not be credited. Please copy and paste to enter it accurately.
Step 4: Start trading on Monaxa as usual
Once your account is linked, you can trade as usual
Specific actions:
- Log in to the Monaxa trading platform (MT4 / MT5, etc.)
- Conduct FX trading as usual
- The cashback will be calculated automatically once the transaction is complete
Note: The timing of cashback rewards varies depending on the website. Some sites apply the rewards immediately, while others apply them all at once, usually the next day or the following week.
Step 5: Withdraw your accumulated cashback
Once you've accumulated a certain amount of cashback, you can submit a withdrawal request
Specific actions:
- Check your balance on the cashback site's My Page
- Set up the withdrawal destination (bank transfer, e-wallet, etc.)
- Submit a withdrawal request and wait for the funds to arrive
Note: Minimum withdrawal amounts and withdrawal fees vary depending on the site. With Money Charger, you can withdraw from as little as 10 yen, and there are no fees.
Recommended sites that support Monaxa cashback comparison
There are several websites that offer cashback through Monaxa. Here, we compare the major cashback sites and summarize their features
| item | Money Charger | TariTali | FinalCashBack |
|---|---|---|---|
| Monaxa compatible | Supported (Monaxa has a dedicated page) | Need confirmation | Need confirmation |
| Level of return rate | Industry-leading standards (announced a return rate 140% higher than other companies) | high standard | standard |
| Minimum withdrawal amount | 10 yen and up | From 1,500 yen | From several thousand yen |
| Withdrawal speed | average 47 seconds | Same day to next business day | Next business day ~ |
| Number of affiliated brokers | 22 or more companies | many | many |
| Additional functions | AI Copy Trading and Automated Trading EA Provided | none | none |
| Registration fee | free | free | free |
Money Charger (Manecha) supports Monaxa cashback and has a dedicated explanation page. In addition to its high cashback rate, it is characterized by its withdrawal speed of an average of 47 seconds and the ability to withdraw small amounts starting from 10 yen. Furthermore, it also offers trading support functions other than cashback, such as AI copy trading and the automated trading EA "OMEGA EA".
TariTali has a long track record as an overseas forex cashback site, and its strength lies in the large number of brokers it supports.
FinalCashBack is a well-established cashback service with a certain level of recognition.
When choosing a cashback site, we recommend comparing their Monaxa compatibility, cashback rates, withdrawal conditions, and customer support comprehensively
Common mistakes and things to watch out for with Monaxa cashback
This article introduces common mistakes beginners make when setting up cashback programs and how to avoid them
Mistake 1: Opening an account without going through a cashback site
This is the most common mistake. Opening an account directly through the Monaxa official website will disqualify you from receiving cashback
Workaround: Always log in to a cashback site (e.g., Money Charger) and then open a Monaxa account via a link on the site.
Mistake 2: Assuming that cashback will be applied to existing accounts
If you already have an account with Monaxa, there may be cases where cashback cannot be applied to that account later
Workaround: Check the terms and conditions of the cashback site and contact support in advance to see if linking an existing account is possible. Alternatively, you can open a new additional account.
Failure #3: Overlooking the fact that bonuses and cashback cannot be used together
Monaxa's bonuses (such as deposit bonuses) and cashback offers may not be usable together
How to avoid this: Before opening an account, check the cashback site's compatibility chart and understand the conditions for combining it with bonuses.
Failure 4: Failure to meet the minimum holding time requirement
Trades with extremely short holding times (such as scalping trades that are closed in a few seconds) may not be eligible for cashback
How to avoid this: Check the minimum holding time in the terms of service of the cashback site. Generally, holding it for a few minutes or more is sufficient.
Failure 5: Incorrect registration of account number
If you register the wrong account number, cashback will not be reflected even if you make transactions
Workaround: Copy and paste your account number, and after registration, check your My Page to make sure it's correctly linked.
Frequently Asked Questions (FAQ)
Q: How much cashback can I get from Monaxa?
A: The amount of cashback varies depending on the account type, the currency pair traded, and the number of lots traded. For example, if you trade 1 lot in a standard account, you will typically receive a cashback of a few dollars. Money Charger publishes detailed information on cashback rates on its Monaxa-specific page
Q: Is there a fee for receiving the cashback?
A: It varies depending on the cashback site. With Money Charger, registration is free and there are no withdrawal fees
Q: I already have a Monaxa account. Can I still receive cashback?
A: Some cashback sites may allow you to open an additional account. First, try contacting the support team of the cashback site you plan to use
Q: How often will the cashback be applied?
A: It varies depending on the site. Some sites reflect the transaction immediately after completion, while others reflect it all together on the next business day. Money Charger has a system in place that reflects transactions at near real-time speed
Q: Can I use cashback and Monaxa bonuses together?
A: It depends on the type of bonus and the terms and conditions of the cashback site. Generally, cashback may not be applicable to accounts that have received deposit bonuses, so it is necessary to check beforehand
Q: What is the minimum withdrawal amount?
A: It varies depending on the cashback site. Money Charger allows withdrawals from as little as 10 yen, which is one of the lowest minimum withdrawal amounts in the industry
Q: Do I receive cashback even when using automated trading (EA)?
A: Yes, automated trading using EAs is also eligible for cashback. Money Charger offers the official EA "OMEGA EA" and AI copy trading functions, so it is possible to combine automated trading with cashback
Q: Can I use multiple cashback sites at the same time?
A: Only one cashback site can be linked to a single account. However, it may be possible to open multiple accounts with Monaxa and link each to a different cashback site
summary
Monaxa's cashback program allows you to reduce trading costs simply by opening an account through a cashback website and trading as usual. Let's review the key points of this article
- Cashback mechanism: A portion of the spread and fees is returned to the trader as cash.
- Receiving procedure: Register on the cashback site → Open an account via the site → Link account number → Trade → Withdraw
- Key points for choosing a site: Compare and select based on cashback rates, withdrawal conditions, number of supported brokers, and additional features.
- Important Note: Account opening via the website is required, and you must check the conditions for combining it with bonuses beforehand.
To start using Monaxa for cashback, first register for free on a participating cashback site and check the cashback rate on the Monaxa-specific page. Money Charger has a dedicated page that explains Monaxa's cashback rate and cashback methods in detail, so even first-time users can proceed smoothly
