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monexfx

Japan|5-10 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.monexfx.co.jp/

Website

Rating Index

Influence

Influence

C

Influence index NO.1

Japan 2.90

Surpassed 100.00% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

0120-911-440
https://www.monexfx.co.jp/
〒107-6025 東京都港区赤坂1丁目12番32号

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

Japanese

0120-911-440

Broker Information

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Company Name

MONEX, Inc

Company Abbreviation

monexfx

Platform registered country and region

Japan

Company website

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Warning: Low score, please stay away! 3
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The JapanFSA regulation (license number: 関東財務局長(金商)第165号) claimed by this broker is suspected to be clone. Please be aware of the risk!

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monexfx · Company Summary

Note: Regrettably, the official website of monexfx, namely https://www.monexfx.co.jp/, is currently experiencing functionality issues.

monexfx Review Summary
Registered Country/Region Japan
Regulation FSA (Suspicious clone)
Market Instruments 2,000+ CFDs on stocks, commodities, indices, currency pairs and futures contracts like Bitcoin
EUR/ USD Spread 0.2 pips (trading between 1,000 to 10,000 currency units)
Customer Support Phone: 0120-911-440

What is monexfx?

MonexFX, an online securities company under the ownership of Monex Group, Inc. (Securities Code 8698), positions itself as a provider of diverse trading instruments across financial markets. MonexFX implements a dynamic pricing model, tailored to transaction volume at order placement. FSA is under scrutiny, with suspicions raised regarding the authenticity of the license. Moreover, the unavailability of their official website adds to uncertainties surrounding the reliability and credibility of their trading platform.

monexfx

If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.

Pros & Cons

Pros Cons
  • A range of trading instruments
  • FSA (Suspicious clone)
  • Inaccessible website
  • Limited payment methods offered
  • Limited customer support

Pros of MonexFX:

- A Range of Trading Instruments: MonexFX offers a wide range of trading instruments across financial markets, including CFDs on stocks, commodities, indices, currency pairs, and futures contracts like Bitcoin. This provides traders with ample opportunities to diversify their investment portfolios and capitalize on various market movements.

Cons of MonexFX:

- Regulatory Concerns: MonexFX's regulatory status, purportedly under the FSA, raises suspicions due to potential cloning or counterfeiting of its license. This uncertainty regarding regulatory compliance may pose risks to investors and undermine trust in the broker's operations.

- Inaccessible Website: The unavailability of MonexFX's official website creates obstacles for potential clients seeking information about the company's services, trading conditions, and regulatory standing. This lack of accessibility may deter prospective traders and raise doubts about the broker's legitimacy.

- Limited Payment Methods Offered: MonexFX provides only a limited selection of payment methods for depositing funds into trading accounts. This restriction may inconvenience clients who prefer alternative payment options or encounter difficulties with the available methods, potentially affecting their overall trading experience.

- Limited Customer Support: While MonexFX provides a phone number for customer support (0120-911-440), the availability and responsiveness of customer service channels may be limited. Inadequate customer support can hinder clients ability to address inquiries, resolve issues, or seek assistance in a timely manner, potentially leading to frustration and dissatisfaction among traders.

Is monexfx Safe or Scam?

Caution should be exercised when considering involvement with monexfx, as there are red flags surrounding the legitimacy of their claimed regulatory status. The license purportedly issued by the Financial Services Agency (FSA), specifically the Retail Forex License with license number 関東財務局長(金商)第165号, is under suspicion of being a clone or counterfeit. This raises serious concerns regarding the broker's compliance with regulatory standards and the protection of investors' interests.

suspicious clone FSA license

Furthermore, the inability to access their official website adds to the apprehension about the reliability and credibility of their trading platform. A reputable and trustworthy brokerage typically maintains a functional website as a primary means of communication and service provision to clients. The lack of accessibility suggests potential issues with infrastructure, security, or legitimacy, further heightening the risk associated with engaging in transactions through monexfx.

The uncertainty surrounding their regulatory status and the unavailability of their official website underscore the importance of conducting comprehensive research and seeking alternative options with established reputations and transparent regulatory compliance.

Market Instruments

monexfx offers more than 2,000 trading instruments in financial markets, including CFDs on stocks, commodities, indices, currency pairs and futures contracts like Bitcoin.

- CFDs (Contracts for Difference) on Stocks: Traders can speculate on the price movements of individual stocks without owning the underlying assets. This allows for potential profits from both rising and falling prices of stocks.

- Commodities: Traders can trade CFDs on commodities such as gold, silver, crude oil, natural gas, agricultural products, and more. These commodities often serve as essential resources in global markets, and their prices can be influenced by factors like supply and demand dynamics, geopolitical events, and economic indicators.

- Indices: monexfx provides CFDs on major stock market indices like the S&P 500, Dow Jones Industrial Average, NASDAQ Composite, FTSE 100, DAX 30, and others. Trading index CFDs allows traders to speculate on the overall performance of a group of stocks representing a particular market or sector.

- Currency Pairs: Forex trading is a significant component of monexfxs offerings, allowing traders to speculate on the exchange rates between different currency pairs. Major pairs like EUR/USD, GBP/USD, USD/JPY, as well as minor and exotic pairs, are available for trading.

- Futures Contracts: Traders can also access futures contracts through monexfx, including futures on commodities, indices, and cryptocurrencies like Bitcoin. Futures contracts involve an agreement to buy or sell an asset at a predetermined price on a specified future date, providing opportunities for speculation and hedging against price fluctuations.

Spreads

Monex FX adopts a dynamic pricing model based on transaction volume at the point of order placement, ensuring transparent and flexible trading conditions for investors.

The spread varies in accordance with the volume of the order. For instance, when trading between 1,000 to 10,000 currency units, the spread stands at a competitive 0.2 pips, offering favorable conditions for smaller-scale transactions. For orders ranging from 11,000 to 1,000,000 currency units, the spread slightly widens to 0.3 pips, still maintaining a tight spread relative to market standards.

For larger transactions falling within the range of 1,001,000 to 2,000,000 currency units, the spread expands modestly to 0.5 pips, reflecting the inherent liquidity challenges associated with handling larger volumes. This tiered pricing structure allows traders to benefit from tighter spreads for smaller orders while accommodating the complexities involved in executing larger transactions.

Deposits & Withdrawals

monexfx provides its clients with convenient and efficient options for both depositing funds into their trading accounts and withdrawing profits.

One of the primary methods available is the Quick Deposit Service, which allows users to swiftly add funds to their accounts using various payment methods such as credit/debit cards, e-wallets, and online payment platforms. This service is designed to streamline the deposit process, enabling traders to react quickly to market opportunities without delays caused by lengthy transaction processing times.

In addition to the Quick Deposit Service, monexfx also facilitates deposits and withdrawals via traditional bank transfers. This method offers a reliable and secure way for clients to transfer larger sums of money to and from their trading accounts. By utilizing bank transfers, traders can enjoy the peace of mind that comes with utilizing a trusted and regulated financial institution for their transactions. Furthermore, bank transfers provide a paper trail for auditing purposes, enhancing transparency and accountability in financial dealings.

Trading Time

The trading hour will change depending on winter time and daylight saving time as shown in the table below.

Winter Time (US Standard time) Daylight Saving Time (US Summer Time)
Period The day after the first Sunday in November - the second Saturday in March 2nd Sunday in March - 1st Sunday in November
Trading Time Monday 7:00 to Saturday 6:55 Japan time Monday 7:00 to Saturday 5:55 Japan time
Batch processing Time Tuesday - Saturday 6:55 - 7:10 Japan time Tuesday - Saturday 5:55 - 6:10 Japan time

Customer Service

Customers can get in touch with customer service line using the information provided below:

Reception hours Weekdays 8: 00-17: 00

Telephone: 0120-911-440

Conclusion

In conclusion, MonexFX presents a mixed picture with both advantages and disadvantages. On one hand, the broker offers a diverse range of trading instruments, providing traders with opportunities to explore various markets and strategies.

However, significant concerns arise regarding its regulatory status, with suspicions surrounding the authenticity of its license from FSA. Additionally, the inaccessible website, limited payment methods, and potentially inadequate customer support further dampen the overall appeal of MonexFX.

Frequently Asked Questions (FAQs)

Q 1: Is monexfx regulated by any financial authority?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: How can I contact the customer support team at monexfx?
A 2: You can contact via phone, 0120-911-440.
Q 3: What services and products monexfx provides?
A 3: It provides more than 2,000 trading instruments in financial markets, including CFDs on stocks, commodities, indices, currency pairs and futures contracts like Bitcoin.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

News

Monex Group Makes Bid For FTX Japan

NewsMonex Group Makes Bid For FTX Japan

2023-01-17 14:09

Monex Group, located in Tokyo, is interested in acquiring the Japanese arm of collapsed cryptocurrency exchange FTX.

WikiFX
2023-01-17 14:09
News
Monex Group Makes Bid For FTX Japan

User Reviews

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CVB85250
more than one year
I've setup a withdrawal from my account, I've received an automated text message that money will arrive in my account in 2-3 days. They blocked the withdrawal, apparently due to not verifying with me the new account setup. However, they send no message that the withdrawal was blocked, no phone call for 3 days. I had to call them to understand what happened. They verified account, and informed me now it will take up to 5 days for the transfer. This is extremely unprofessional.
2024-03-28 11:52
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FX1568987003
more than one year
The user interface is user-friendly, but customer support is slow. Trade execution speed varies, and reliability raises concerns. It's suitable for beginners, but advanced traders may find limitations.
2023-12-20 23:51
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品味人生
more than one year
It is a highly regulated Japanese Forex broker that offers a safe and secure trading environment and a variety of innovative trading tools. The interface of the trading platform is simple and easy to use, making it easy for beginners to get started. Their customer service is also excellent, 24 hours online, responsive and able to solve customers' problems in a timely manner.
2023-03-27 17:33
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