Monexis Review: What Traders Need to Know

The business is making lofty assertions: over 45,000 repeat customers, a new trader’s average yearly earnings of $10,000, and $750 million in annual trading volume. Such figures, if accurate, would represent a prosperous, healthy business. However, Monexis never makes available any independently verifiable information to underpin such assertions. Compounding the issue, the business has no verifiable physical location and does not appear to have any legal or regulatory control.

Monexis Snapshot

Legitimacy Check

A more detailed examination of the regulatory status of Monexis confirms the nightmares. The company is entirely unlicensed and trades without accreditation from any financial regulator — European, American, or offshore. The absence of such authorisation means customers are are largely left to their own devices. In case of stolen money or blocked accounts, there are no avenues of redress. No ombudsman. No legal recourse.

Monexis claims a New York location, but none exists. A brief check on Google Maps doesn’t locate any registered entity or tangible presence at the provided address. We are compelled to recognise this assertion for what it is: a bald misstatement and part of the broader deception.

Moreover, the owners brazenly claim that they founded their company in 2010. A simple search of the site’s WHOIS records destroys this claim, since in fact the platform has existed for less than a year.

The deductive conclusion is unavoidable: Monexis is a non-licensed and potentially fraudulent brokerage project that has no business attempting to watch out for its clients’ interests.

Monexis.org Content Quality

Monexis’ website exists in a number of languages, though its educational materials exist in English only. The website consists of a main landing page and some incidental subsections, which nominally provide access to trading tools, policy documents, and support features. However, we are again faced with an unpleasant tendency: superficial shine, concealing it from any genuine content.

The educational segment, although prominent, is disappointing. The sign-up screen is immediately coupled with a customised version of WebTrader. This trading platform is dramatically bare-bones: a single candlestick chart dominates the screen centre, beneath which are account balance and performance metrics. A left-menu option allows for a rudimentary time-frame, but no complex functionality — such as indicators, order depth, or analytics — is available.

The legal page on the site includes links to its AML (Anti-Money Laundering) and KYC (Know Your Customer) policies. While this suggests some compliance effort, the site is otherwise still beset by confidentiality issues, thin information, and spurious promises of earnings and risk exposure.

Key Trading Features

Monexis offers four levels of trading accounts: Basic, Standard, VIP, and Prime. They vary in the leverage provided and access to additional services. Let’s consider the conditions of each level.

The minimum deposit is €250. However, to be able to use all the features of the platform — priority support, enhanced tools, and more lucrative bonus rates — ‌users will have to make deposits of over €50,000. We opt to flag this as a severe red flag. Many users report that after initial deposits are made, their accounts get frozen or their balances are oddly depleted. There is also high-pressure sales behaviour used to push the users to “upgrade” to more “premium” accounts by making further deposits.

Monexis has 24/5 customer support, though experience seems to show that such assistance is at best negligible. A facility for “express withdrawals” exists under which it is said to process fund requests within 3 to 48 hours. A so-called bonus policy also provides a maximum of 150% matching of new deposits, provided the user opens a “Standard” account and makes a minimum of $2,500 in deposits.

Additional features include access to trading signals, commission-free trading, economic calendars, and news feeds. There is also a couple of tools here — a profitability calculator and technical analysis articles. But again, like the platform itself, these features are all flash and have no substance. Most are here to lure users into a state of illusion.

Monexis Education Insight

Monexis places education at the forefront as part of its user interface. However, this proves to be more of a hype than a substantial learning experience.

Available in English alone, educational content amounts to brief glossaries for novices and a handful of video tutorials for advanced users. The topics are not very thorough, nor are they customarily designed to discuss day-to-day trading concerns.

Most importantly, there are no live webinars, no mentoring, and no community interaction. Support is slow, and there is no feedback loop for enhancing or customising the learning process. We cannot see how this can be classified as serious learning when it does not even have the most basic support mechanisms.

Customer Service Overview

In short, customer service is bad. A quick Google search reveals that the phone number listed belongs to several other dubious brokerage firms. So, the only medium of communication is email, and this causes serious problems. Not only is email support slow, but even verification tools show that the addresses tried could be insecure or unreliable.

No integration with messaging services such as Telegram, WhatsApp, or live chat is provided on the primary website. This lack of multi-channel capability is far from typical of any legitimate financial service provider. For users in crisis situations — users who can be suffering from withdrawal slow-downs or trading errors — such a limitation is unacceptable.

Our Verdict

Our assessment is that Monexis is below the standard of a trustworthy financial service. It is unregulated, unlicensed, and inconsistent in its statements. The organisation sells forbidden financial products, employs too high a leverage, and relies on misleading bonuses to entice higher deposits from customers. Educational products are shallow. Technical platforms are primitive. Customer support is next to nil. The risk of financial loss — either from unfavourable trading conditions or outright scamming — is extremely high.

About the author

Hamish Drake

Trading Educator

Hamish Drake is an experienced trading educator and content creator. He has developed several online courses and written numerous articles on trading basics, risk management, and market fundamentals. Hamish focuses on identifying brokers that offer the necessary educational resources, ensuring customers have the tools they need to start and improve their trading journey.