monyxa Review

About monyxa

Monyxa (monyxa.com) is registered as Monyxa Ltd in Saint Vincent and the Grenadines, offering forex, stocks, cryptocurrencies, and CFDs, and providing tiered account types (e.g., Diamond, Platinum, Gold, Silver) with a stated maximum leverage of up to 1:1000, minimum deposit for the highest tier reported at $50,000, and spreads «from 0 pips»(). The broker claims to operate MT5 and WebTrader platforms and issues a virtual VISA card with an allowance of up to €10,000 per month and delivery cost starting at €14.99().

No valid financial regulatory licence has been found; Saint Vincent and the Grenadines registration does not equate to regulation for forex/CFD services, and there is no record of authorisation by reputable regulators (e.g., FCA, ASIC, CySEC)(). Scam‑advice and risk‑rating sites flag the operation as high‑risk, with ScamAdviser assigning very low trust and warning of scam indicators(). Furthermore, the Washington State Department of Financial Institutions issued a consumer alert noting that Monaxa Ltd (alternative spelling) offered OTC forex and CFD copy‑trading without registration, and also had warnings from regulators in Japan and Malaysia for unlicensed activities; the platform, unregistered with CFTC or SEC, ceased accessibility in the U.S.().

Pros and cons

Pros

• Provides multiple asset classes (forex, stocks, crypto, CFDs) and tiered trading accounts with customizable features including MT5/WebTrader access and a virtual VISA card().

Cons

• Operates without a recognised financial regulation; SVG registration does not imply regulation, and no oversight from major authorities like FCA, ASIC, or CySEC().
• Flagged by risk-assessment services as highly unsafe or scam-like; ScamAdviser rating is extremely low().
• Subject of a consumer alert by Washington State regulator for offering unregistered services and copy-trading schemes, with reported withdrawal and losses by U.S. users().