Monaxa is an overseas forex broker established in 2023, holding licenses from Anguilla and Mauritius FSC. Its features include leverage up to 2,000x, support for three platforms (MT4, MT5, and cTrader), and support for copy trading and PAMM
### basic information
| Item | Content |
|——|——|
| Establishment | 2023 (Operated by: Monaxa Ltd) |
| Financial License | Anguilla A000001175 / Mauritius FSC GB23201577 |
| Maximum Leverage | 2,000x (Standard/Pro Accounts) |
| Products | FX / Precious Metals / Energy / Stock Indices / Stock CFDs / Cryptocurrency CFDs / Futures |
| Number of Instruments | Over 87 |
| Trading Tools | MT4 / MT5 / cTrader |
| Zero Cut | Implemented |
| Japanese Support | Available |
### merit
#### 1. Support for 3 platforms: MT4, MT5, and cTrader
. There are still only a few brokers that support cTrader. It offers a highly functional trading environment, including order book viewing, high-speed execution, and cBots support. MT4/MT5 users can also use it as before.
#### 2. Cost Performance of Pro Accounts
Pro accounts offer commission-free trading with spreads starting from 0.9 pips. Compared to other companies' ECN accounts, they are competitive in terms of actual costs and are popular with traders who want to keep trading costs down.
#### 3. Copy Trading & PAMM Support
Supports copy trading using cTrader Copy. You can follow master trader strategies with a single click, and it also has comprehensive risk management tools. You can also entrust your trading to professionals with a PAMM account.
#### 4. Minimum deposit of $15.
Standard and Cent accounts can be started with a minimum deposit of $15. This makes it easy for those who want to try overseas forex trading with a small amount of money.
### Disadvantages
#### 1. Short operating history:
Established in 2023, it has a short operating history, making it difficult to judge its long-term reliability. Careful consideration is required when depositing large sums of money.
#### 2. We
only hold licenses from the minor Anguilla and Mauritius FSC. We do not hold higher regulatory licenses such as CySEC or FCA.
#### 3. Wider spreads on Standard accounts.
The spreads on Standard accounts are 1.8 pips or wider, which is slightly wider than the industry average. If cost is a major concern, you will need to choose a Pro account or a Zero account.
### Spread Comparison
| Account Type | EUR/USD | Trading Fees |
|———–|———|———-|
| Standard | 1.7 pips ~ | Free |
| Pro | 0.9 pips ~ | Free |
| Zero | 0.0 pips ~ | Round trip $10/lot |
### Account Type Comparison
| Account Type | Features |
|———–|——|
| Standard Account | Commission-free, up to 2,000x leverage, general use |
| Pro Account | Commission-free, low spreads, for intermediate to advanced traders |
| Zero Account | $10 round-trip commission, extremely narrow spreads, ECN type |
| Cent Account | Commission-free, for small trades |
| cCopy Account | Copy trading only, FX/precious metals only |
### Monaxa is recommended for the following people
: – **cTrader users**: Those who want to trade while viewing order book information on cTrader
– **Copy trading**: Those who want to copy and manage professional trades
– **Low-cost trading**: Those who want to take advantage of the commission-free + low spreads of the Pro account
– **Start with a small amount**: Those who want to start overseas forex trading from $15
– **PAMM management**: Those who want to entrust fund management to professionals
### Benefits of trading via MoneyChat
– **Cashback**: Reflected in your MoneyChat My Page for each trade (all account types supported)
– **High Cashback**: 7.50 USD/lot for XAU/USD on a Standard account
– **Additional perks**: OMEGA EA, AI copy trading, Tenkaichi Budokai, Gacha, etc.
– **Double support**: Monaxa support + MoneyChat's Japanese support
– **Same trading conditions**: Exactly the same conditions as direct registration through the official site
**Risk Warning**: Forex trading involves risks. Please invest only with funds you can afford to lose
