i am worry to read a bad review....but after i had experience with them i had withdrawal multiple times (8 times ) with no issues....just withrawal on weekend will drag to monday.... so far is good sv... See more
Company replied
While we don't verify specific claims because reviewers' opinions are their own, we may label reviews as "Verified" when we can confirm a business interaction took place. Read more
To protect platform integrity, every review on our platform—verified or not—is screened by our 24/7 automated software. This technology is designed to identify and remove content that breaches our guidelines, including reviews that are not based on a genuine experience. We recognise we may not catch everything, and you can flag anything you think we may have missed. Read more
See what reviewers are saying
Everything was okay at first until I requested a withdrawal which haas been pending since. It has been two months since my withdrawal has been pending. I reached out to the customer support regarding... See more
Company replied
Monaxa is a scam platform. They blocked my deposit (Error: Internal Error/Pay5) while Gold (XAUUSD) was dropping, causing me to lose $2,176.94 due to a margin call. Support agent Giovan M is stalling... See more
Company replied
Traded with Monaxa on regular account during gold and oil rush, made good profit and WD without any issues. But at the same time if the WD is more than 10K the timing must be improved. The product lin... See more
Company replied
Company details
Written by the company
We are a frictionless multi national, multi asset broker. We offer the trading assets you want. The account types you need. The trading conditions you deserve. On technology already trusted by millions. We offer access to the global markets including Forex, Indices, Gold, Oil and Stock CFDs. Frictionless trading is not just buzz words. It's how Monaxa was build from the ground up. Frictionless trading was worth waiting for. www.monaxa.com
Contact info
No. 9 Cassius Webster Building, Grace Complex, PO Box 1330, The Valley, AI-2640, Anguilla
- support@monaxa.com
- monaxa.com
3.5
Average
151 reviews
Replied to 96% of negative reviews
Typically replies within 1 month
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Super fast response
January 13, 2026
Unprompted review
Reply from Monaxa
Sorry to hear you feel that way. What did we do that was so bad?
Please refrain from dealing with this…
Please refrain from dealing with this broker. I
was certain my
funds were lost, but ”Qualified Legal Alliance Europe“ helped me to recover all my stolen money.
November 14, 2025
Unprompted review
Reply from Monaxa
Thanks for the fake one star review to promote your fake service.
Monaxa is too sweet!!
Hey guys, I've really enjoyed my time using Monaxa. I'm using their copy trading, and was able to get my accounts setup real fast.
My clients are happy, we all make deposits and receive our withdrawals on time.
I really rate Monaxa as a great broker to start your trading journey or develop your forex business.
The service is great, My account manager is there for me. Theres lots of money to be made.. I love it and recommend it to anyone who is serious.
October 1, 2025
Unprompted review
Reply from Monaxa
We're sweet? You're the sweetest. Thanks for taking the time to give us that elusive 5 star. Makes us smile so hard:)
Reply from Monaxa
Never has so few letters used said so much to us. Thank you so, so much for the 5 star!
I wanted to get my investment back…
I wanted to get my investment back therefore I’m hoping the business can speed up the withdrawal procedure and provide better customer service for future customers it’s always turned down.
I’m thrilled with Nruxad Home’ the customer service is excellent they take care of you quickly and the withdrawal process is simple.
August 28, 2025
Unprompted review
Reply from Monaxa
Thanks for the fake 2 star review to promote your fake service.
I have been attempting to make a…
I have been attempting to make a withdrawal from this broker for almost 2 weeks! it was approved there is noone to call you back! awful service
September 17, 2025
Unprompted review
Reply from Monaxa
This isn't normal. 85% of withdrawals are conducted instantaneously unless there is a delay in the PSP you chose to make the withdrawal. There may also be a delay if your account was flagged by the system to review for abusive trade behaviors or bonus abuse. If you still have delays please contact us and we will be sure to sort it out.
MONAXA uses endless KYC as an excuse to deny your withdrawal.
I opened an account with Monaxa on August 13, 2025 (Trading Account: 923785). On August 14, I deposited USD 500 to trade, and after trading I made a profit of USD 1,487.35.
On August 18, I requested my first withdrawal of USD 680, which was successfully processed and received. However, on August 19, when I requested my second withdrawal of USD 1,307.35, I was suddenly notified by email that my withdrawal was blocked.
Monaxa then forced me to go through excessive and unreasonable KYC procedures. They asked me to provide endless documents, including video verification and selfies holding my ID. I already submitted my selfie with ID, yet they kept demanding more and more KYC steps, clearly using this as an excuse to delay or prevent my withdrawal.
This is completely unacceptable. A legitimate broker should not restrict client withdrawals under such unreasonable conditions. Monaxa is proving itself to be a platform that does not allow proper withdrawals.
⚠️ Warning to others: Monaxa may let you deposit and even process a small first withdrawal to build trust, but when you try to withdraw larger profits, they block your funds with endless KYC excuses. This is highly suspicious and shows that Monaxa is not a trustworthy broker.
August 19, 2025
Reply from Monaxa
Your KYC documentation was denied due to being red flagged as fraudulent by our third party provider as well as a manual review by our compliance /back office team. Nothing supplied to us matched your account profile.
MONAXA SCAM BROKER!!!
Already 2 months haven't received any withdraw...dont trust their bonus offer..just scheme to scam us
DONT TRADE WITH MONAXA
August 22, 2025
Unprompted review
Reply from Monaxa
Now this isn't normal at all. We have no record of an outstanding withdrawal request for this long. Something isn't right here. Are you sure your issue is with us? If so, please reach out to us on chat or email to sort this out. Its unacceptable.
Support is available quickly on WhatsApp as well as via email. The deposit process is fast, withdrawals are quick, and the platform offers all types of accounts.
The withdrawal process from the bonus account was completed within minutes. Thank you, Monaxa support.
August 11, 2025
Reply from Monaxa
No! Thank you for your support!!!!! Its folks like you who take the time to write a real positive 5 star review that keeps the trolls at bay.
My withdrawal query was resolved…
My withdrawal query was resolved promptly, Monaxa is the best broker.
August 11, 2025
Unprompted review
Reply from Monaxa
Very nice to hear we did something right. Often we only see the negative. But your 5 star review made us smile. Thank you!
Scam trading platform
Scam trading platform. I deposited my money 4months back. I wanted to withdraw the deposit back. It always gets declined. They don’t want to return my money back. No one is assisting at all. Withdrawal keeps getting declined for no reason at all. All I want is my deposit money nothing else.
Sorry... your withdrawal request has been declined. Details below:
Name: Mr Dumisani S P Mkhwanazi
Payment System: PayRetailers+ (ZAR)
Account: 505591
Currency: USC
Amount: -22000
Balance: 200
Reason: FAILED_PAYOUT_REQUEST
August 5, 2025
Unprompted review
Reply from Monaxa
You are right to be frustrated and we deserve the negative review. We had a process failure with one of our payment service providers and unfortunately you got caught up in the back and forth exchanges between us and a third party. Not an excuse though. We take ownership and apologize for the frustrations. For final closure though: Your withdrawal was declined by PayRetailers (the PSP) due to a system error which required you to insert your address into a form but the address requirement wasn't visible to you within the form in their system. By the time the back and forth was over between us and them, you already managed to make your withdraw using an alternative method on 9/8/2025. Sorry sir. Happy all ended well though and you received your money in full.
This idiot company and idiot staff to…
This idiot company and idiot staff to much bad broker i ever seen totally scamer they eat your money they scam you i just deposited and want to withdrawal funds when i withdraw it after 2 days i received email Withdrawal Declined this company claim withdrawal process same day but please bro don't trust this shit broker
Hi Abida,
Sorry... your withdrawal request has been declined. Details below:
Name: Abida Khalid
Payment System: Cryptocurrency : NACE
Account: 913731
Currency: USD
Amount: -100.55
Balance: 0.02
These people did not give me my money and treated me very badly, even though I told them repeatedly that it was not my fault.
These people are saying that I have done internal hedging. I am placing trades on an account in the morning and I made a profit from it. Then I applied withdrawal. It is very late for them. At first I did not know. Withdrawal was very late. So I thought I would create a new account. I created an account in my wife's name and placed trades on it in the evening.
You guys should think for yourself that one account is making a profit in the morning and the other account is making a profit in the evening.How this internal hedging happened.
You people should be ashamed of yourself for doing such things.
June 26, 2025
Unprompted review
Reply from Monaxa
We do thank you for your feedback and we do empathize with your frustration. We obviously didn't communicate well enough your account actions were in violation of our general business terms and conditions for internal hedging with multiple accounts. If you wish to seek further explanation please contact out support team via live chat and we will do our best to go through the details with you.
Dont use this broker
Dont use this broker, totally scam!! better use another broker like hfm or xm
June 16, 2025
Unprompted review
Reply from Monaxa
Your first statement is a bit harsh as we are by no means in anyway a scam. 100k+ Monaxa clients cant all be wrong. But you are correct in recommending HMF or XM as these are also great brokers to trade with.
Bad customer service,canot…
Bad customer service,canot withdrawal,scamee
April 29, 2025
Unprompted review
Reply from Monaxa
Sorry to hear you had a less than perfect customer experience. Please reach out to us so we can try to fix the withdrawal issue. Without knowing the details we can only assume some sort of bonus or general terms violations occurred.
Broker scam 2025 be carefully,customer…
Broker scam 2025 be carefully,customer service very stupid
April 29, 2025
Unprompted review
Reply from Monaxa
A bit harsh but we could of obviously done better. Please drop us a message in chat and we might be able to do better this time. What ever the issue is I'm sure we can resolve it.
Support team and live chat is slow to…
Support team and live chat is slow to fix customer issues
March 24, 2025
Unprompted review
This idiot company and idiot staff to…
This idiot company and idiot staff to much bad broker i ever seen totally scamer they eat your money they scam you i just deposited and want to withdrawal funds when i withdraw it after 2 days i received email Withdrawal Declined this company claim withdrawal process same day but please bro don't trust this shit broker
Hi Bruno Sebastian,
Sorry... your withdrawal request has been declined. Details below:
Name: Bruno Sebastian Tapia Munoz
Payment System: Cryptocurrency : OMPAY
Account: 304356
Currency: USD
Amount: -234
Balance: 0.04
Reason: Withdrawal decline. Further details have been sent to you in a separate email.
March 7, 2025
Unprompted review
Reply from Monaxa
Hello Bruno. We take your review serious and we have gone back to see what we did wrong and if we could make it somehow better.
However, after review it seems your withdrawal delay and denied profits was due to bonus account abuse in which our risk team detected the following: account MT4 (Bonus) 304356 using a shared device with another bonus account, 335531 to use as internal hedging. That's a violation of the general business terms and conditions as well as a violation of the bonus terms and conditions. Of which you were notified in detail of the offence. Your deposit has been refunded and has been sent back to you as requested.
Thank you for your review albeit a one star. But in any case, we appreciate the feedback and wish you the best of luck.
Urgent: Release My Withdrawal Immediately
here is my trading account number: 302997
I withdrew funds from my account on Friday, and while the first withdrawal was processed instantly, the second one is still pending. Today is Tuesday, and I have yet to receive the amount. This behavior is unacceptable. I contacted support, and they told me my request is in the queue and will be processed soon, but I’ve been hearing the same response since yesterday with no progress. Please release my withdrawal immediately.
February 4, 2025
Unprompted review
Reply from Monaxa
Sorry to hear you had a one (business day) delay in one of your withdrawal requests. We tried researching the issue using the account number listed in your review. However, this account number is under another name and was closed in September of last year. [This account is deleted 29-09-2024 01:33:43]. Unfortunately researching into the issue any further is impossible without a different account number. We do hope all ended well and if not, please let us know and we will do our best to fix it.
Reply from Monaxa
No... Thank you! Thanks for trusting Monaxa. We think you're nice too.
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