Monaxa is a broker that provides investors with foreign exchange, precious metals, energy, stocks, indices trading services. Monaxa website is https://www.kcmtrade.com/, the site support simplified Chinese character, English, Spanish, Vietnamese, Malay, Thai language as language use. Monaxa's account registration page is also available in simplified Chinese, English, Spanish, Vietnamese, Malay, Japanese, and Thai.
Company background:
According to Monaxa's website, the company was incorporated in Anguilla, British West Indies. A search on the ANGUILLA COMMERCIAL REGISTRY website revealed that the company's registration information was genuine. In addition, according to the Whois query of the website's domain name registration information shows that the company's official website domain name registration on March 19, 2013, the domain name registration time has been more than 10 years.
Account Registration:
According to Monaxa's website, the company provides investors with links to open real accounts. To register a real account, click "Sign Up" at the upper right corner of Monaxa's official website, or "Open an account" on the left of Monaxa's official website to enter the account registration page, select or fill in the information such as name, country, telephone number, Email, language, password, etc. as required, and then complete the registration of the real account. Monaxa's account registration page is available in simplified Chinese, English, Spanish, Vietnamese, Malay, Japanese, and Thai. However, the Monaxa website does not provide a link to sign up for a demo account.
Account Type:
According to Monaxa's website, the company offers investors four different types of trading accounts: STANDARD, PRO, ZERO(ECN) and CENT. In addition, the Monaxa website also provides the differences between these four account types in terms of contract size, base currency, minimum deposit, spread, commission, margin ratio, asset class, etc.
Trading Products:
Monaxa's official website shows that the company provides investors with foreign exchange, precious metals, energy, stocks, indices trading products. In addition, Monaxa's official website not only shows the spread, commission and other information of specific trading products covered by foreign exchange, precious metals, energy, stocks and indices under different account types, but also shows the overnight interest information of specific trading products covered by foreign exchange, precious metals, energy, stocks and indices under different investors or different capital sizes.
Margin ratio:
Monaxa displays information on the maximum margin ratio for different account types in the "Account Types" section of its website. In addition, Monaxa's official website also shows the margin ratio information of specific trading products covered by foreign exchange, precious metals, energy, stocks and indices under different trading software or different capital sizes.
Trading Hours:
The Monaxa website does not provide information on the trading hours of specific trading products covered by Forex, precious metals, energy, stocks, and indexes.
Deposits and Withdrawals:
Monaxa's official website information shows that the company supports online banking, wire transfer, Tether method or channel deposit and withdrawal. In addition, Monaxa's website also provides information on the currencies it supports or requires to deposit or withdraw money, time, fees, and minimum deposit or withdrawal amounts.
Trading Software:
Monaxa website information shows that the company provides investors with MetaTrader4 (MT4), cTrader two kinds of trading software, Monaxa's MT4 and cTrader trading software supports PC (Windows/MacOS), Web and mobile (IOS/Android) versions. However, the Android version of MT4, cTrader software in some countries or regions, there are problems that can not be downloaded or downloaded installation speed is slow.
Other services:
Monaxa website information shows that the company for copy trading, economic calendar, trade indicators and other services. Among them, copy trading allows investors to copy the trading strategies or trading skills of other investors, economic calendar allows investors to understand the financial events that have happened or will happen in the financial market, and transaction indicators are commonly used analysis and trading indicators provided by Monaxa for investors in the financial market.
Regulatory information:
Monaxa's website does not provide regulatory information about the company. However, Monaxa's website shows that its affiliate, Monaxa AU PTY Ltd, is regulated or authorised by the Australian Securities and Investments Commission (ASIC). However, a search on the Australian Securities and Investments Commission (ASIC) website revealed that Monaxa AU PTY Ltd holds a STAR FUNDS MANAGEMENT PTY LTD (488828) Authorised Representative Licence (AR Licence), which has weaker regulatory and investor protection. More importantly, STAR FUNDS MANAGEMENT PTY LTD sold its Authorised Representative Licence (AR licence) to a number of similar companies such as Monaxa AU PTY Ltd. Companies such as Monaxa AU PTY Ltd have no relationship with STAR FUNDS MANAGEMENT PTY LTD, and these companies are only using the Authorized representative licence (AR licence) purchased from STAR FUNDS MANAGEMENT PTY LTD to promote. There is some suspicion of fraud.
Summary:
Monaxa is suspected of fraud. This is despite a query on the ANGUILLA COMMERCIAL REGISTRY website showing that the company's registration information is genuine. However, Monaxa's website shows that its affiliate, Monaxa AU PTY Ltd, is regulated or authorised by the Australian Securities and Investments Commission (ASIC). However, a search on the Australian Securities and Investments Commission (ASIC) website revealed that Monaxa AU PTY Ltd holds a STAR FUNDS MANAGEMENT PTY LTD (488828) Authorised Representative Licence (AR Licence), which has weaker regulatory and investor protection. More importantly, STAR FUNDS MANAGEMENT PTY LTD sold its Authorised Representative Licence (AR licence) to a number of similar companies such as Monaxa AU PTY Ltd. Companies such as Monaxa AU PTY Ltd have no relationship with STAR FUNDS MANAGEMENT PTY LTD, and these companies are only using the Authorized representative licence (AR licence) purchased from STAR FUNDS MANAGEMENT PTY LTD to promote. There is some suspicion of fraud. According to this judgment, Monaxa is suspected of fraud, and investors should be careful to choose the services provided by the company. TraderKnows reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
