What Account Types and Fees Does MONAXA Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners and casual traders |
Low minimum deposit, wide range of instruments |
Suitable for starting capital with diversified trading |
| Pro Account |
Experienced traders |
Competitive spreads, fast execution |
Best for those seeking lower trading costs |
| Zero Account |
Professional traders |
Ultra-low spreads, high leverage |
Ideal for high-frequency trading strategies |
| Cent Account |
Beginner traders with limited capital |
Low minimum deposit, high leverage |
Perfect for practice with smaller capital |
Account Opening Process
To open an account with MONAXA, prospective clients need to follow these steps: first, submit personal information, including name and contact details. Next, employment and financial information must be provided to assess the client’s trading profile. Identity verification is required, which includes submitting a valid ID and proof of address. After completing the necessary documentation, clients can start trading. Additionally, MONAXA offers account flexibility, allowing users to upgrade to a professional account later if their trading needs change.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
Varies |
Varies |
Competitive spreads available |
| Forex (Minor Pairs) |
Varies |
Varies |
Competitive spreads available |
| CFDs (Stocks) |
Varies |
Varies |
Market-dependent |
| CFDs (Indices) |
Varies |
Varies |
Market-dependent |
| CFDs (Commodities) |
Varies |
Varies |
Market-dependent |
| Cryptocurrencies |
Varies |
Varies |
Market-dependent |
Other Fees
MONAXA also has several other fees that clients should consider. These include potential deposit and withdrawal fees, which may apply depending on the payment method chosen. Inactivity fees may be applicable if an account remains dormant for an extended period. Additionally, clients should be aware of any platform usage fees, overnight interest for positions held, and possible currency conversion fees for transactions in different currencies.
