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Monfex

United Kingdom|2-5 years|
Suspicious Regulatory License|MT4/5 White Label|Regional Brokers|High potential risk|

https://www.monfex.com/

Website

Rating Index

MT4/5 Identification

MT4/5

White Label

SwissSVGHolding-Demo

United Kingdom
MT4
2

Influence

D

Influence index NO.1

Indonesia 2.62

MT4/5 Identification

MT4/5 Identification

White Label

2
Server Name
SwissSVGHolding-Demo MT4
Server Location United Kingdom

Influence

Influence

D

Influence index NO.1

Indonesia 2.62

Surpassed 25.89% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

support@monfex.com
https://www.monfex.com/

Licenses

No valid regulatory information, please be aware of the risk!

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

Single Core

1G

40G

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Broker Information

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Company Name

Monfex

Company Abbreviation

Monfex

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2024-03-28
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

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Monfex · Company Summary

General Information & Regulation

Monfex says it is a UK-based forex and CFD broker offering more than 200 financial instruments. The Monfex website is not quite informative, with the company behind it not disclosed to all. Also, there is zero evidence that Monfex is regulated, so it is unsafe to trade with this broker.

Markets Instruments

Monfex offers over 200 trading instruments across different asset classes, such as forex, indices, commodities, cryptocurrencies, and stocks, for trading online via user-friendly trading platforms.

Minimum Deposit

The minimum initial deposit required by Monfex is $250 to start a real trading account. Although this is reasonable, traders are not advised to register accounts here given the fact that Monfex is unregulated.

Leverage

Trading leverage varies depending on particular instruments, with leverage up to 1:400 for major pairs, 1:20 for stocks, Gold & Silver 1:400, oil 1:20, leverage for indices up to 1:50, Cryptos 1:20. Since leverage can amplify gains as well as losses, it is essential for traders to choose the proper amount.

Micro Trade Size

The minimum trading size allowed by Monfex is 0.01 lot, which sounds friendly to beginners.

Spreads & Commissions

Monfex does not show its spread conditions on its website, unless you log in a real trading account. Unregulated brokers love to hide their real trading fees to scam traders.

Trading Platform Available

What Monfex offers its traders is not the MT4 or MT5 trading platform, only a web and mobile platform.

Deposit& Withdrawal

The minimum deposit is 250 USD. Payments options offered by Monfex is limited, and traders can fund their accounts through Visa/MasterCard or Wire Transfer. Monfex Claims that it does not charge any fee for deposit and withdrawal.

Customer Support

Monfex‘s customer Services Team is available 24/7 and can be reached via Telephone and the Live Chat function on the broker’s website, as well as by filling the ‘Get in Touch’ form on the brokers website. Besides, Monfex is also available on social media handles: Facebook, Instagram, Twitter, and Telegram.

News

Scam Alert: Stay Away from Unlicensed FX Broker Monfex

NewsScam Alert: Stay Away from Unlicensed FX Broker Monfex

2022-12-29 17:28

Successful forex trading begins with selecting a trustworthy broker.

WikiFX
2022-12-29 17:28
News
Scam Alert: Stay Away from Unlicensed FX Broker Monfex
Avoid Signing Up This Unlicensed FX Broker Monfex

NewsAvoid Signing Up This Unlicensed FX Broker Monfex

2022-09-22 13:59

Choosing a reliable broker is the first step toward successful forex trading. Finding a reputable broker is tough enough, but the growing number of brokers makes things much more complicated. This article outlines how scam brokers, such as "Monfex," fool customers with bogus information, attract them into profitable agreements, steal their money, and then flee.

WikiFX
2022-09-22 13:59
News
Avoid Signing Up This Unlicensed FX Broker Monfex

User Reviews

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TLC腾乐资本
more than one year
When I traded with Monfex, they would ask me to pay additional withdrawal fees, basically 20% to 30%. Customer support staff’s altitude is so rude, and finally I made a concession.
2023-03-02 10:22
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0
0
A. ヽyu
more than one year
I am trading AUD/USD, GBP/USD, as well as some stocks on this platform, so far so good. I have made a profits of $1,366.56 within one week, so exciting! I hope I could withdraw them successfully😊
2023-02-15 09:53
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0
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