FSCA — South Africa
MONAXA SA (PTY) LTD
Regulated · No. 53184
MONAXA Review — Overview
Regulation
Tier-2 regulated
Licence
FSCA · No. 53184 • FSC
Licence status
Regulated
Platforms
MT4, cTrader, cTrader Copy
Min. deposit
$15
Max. leverage
1:4000
Instruments
Forex, commodities, indices, cryptocurrencies and shares
Typical spread
From 1.8 pips (Standard account)
Operating
2-5 years
Main market
CY
Entity
MONAXA SA (PTY) LTD
Website
Unknown
MONAXA is a forex & CFD broker based in South Africa, operating for 2-5 years. On Trust Broker Hub it holds a Trust Score of 4.6 out of 10, which we rate as Fair — above the industry average of 3.3/10. Mixed profile — check regulation and conditions before depositing.
MONAXA's licence comes from an offshore jurisdiction (FSCA and FSC). Offshore regulation is far lighter than tier-1 oversight from bodies like the FCA (UK) or ASIC (Australia): there is usually no compensation scheme, and recovering funds can be difficult if the broker runs into trouble. Treat it with extra caution and verify the licence on the regulator's own register.
MONAXA provides access to Forex, commodities, indices, cryptocurrencies and shares. Published conditions include a minimum deposit of $15 and leverage up to 1:4000. No complaints are currently on record. Overall, MONAXA has a mixed profile: check its regulation and conditions carefully before depositing.
Trust score breakdown
How is this calculated?Trust Score history
MONAXA currently scores 4.6/10. The trend line will build here as the Trust Score is re-evaluated over time.
Pros
- Holds a FSCA licence
- No unresolved complaints on record
- Listed in our verified broker directory
Cons
- Offshore-only regulation with weaker investor protection
- Always verify the licence directly before depositing
Regulation
Tier 2 · Mid
Verified
FSC — United Kingdom
MONAXA SA (PTY) LTD
Licence
Tier 3 · Offshore
Verified
Offshore (tier-3) regulators typically have lower capital requirements and no compensation scheme. Funds may not be protected if the broker fails.
Trading conditions
| Instruments | Forex, commodities, indices, cryptocurrencies and shares |
| Minimum deposit | $15 |
| Maximum leverage | 1:4000 |
| Typical spread | From 1.8 pips (Standard account) |
| Platforms | MT4, cTrader, cTrader Copy |
| Demo account | / |
We mark unverified fields as “Not disclosed” rather than estimate them.
Our verdict on MONAXA
Our analysis · editorial
4.6/10
A mixed risk profile
MONAXA is regulated under a mid-tier authority (FSCA, FSC). It is based in South Africa. We have no complaints on record against it. Weighing regulation, track record and complaint history, our Trust Score is 4.6/10 — a mixed profile.
Strengths
- Holds a recognised mid-tier licence (FSCA, FSC)
- Holds 2 regulatory licences across multiple jurisdictions
- No complaints on record with us
- Supports MT4 & cTrader trading
- Accessible minimum deposit ($15)
Watch-outs
- Very high leverage available (1:4000) — amplifies risk
Bottom line: Proceed with caution: start with a small deposit and test a withdrawal early.
This is Trust Broker Hub's data-driven editorial assessment — not a user review. It is generated automatically from regulation, licensing, company age and complaint records, and updates as those change.
User reviews
5 0
4 0
3 0
2 0
1 0
MONAXA — Questions & Answers
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Complaints & alerts
No complaints or regulator warnings on record
We monitor regulator alert lists and user reports. We'll flag MONAXA here if that changes.
Full specifications
Regulated region
South Africa
Operating period
2-5 years
Main market
CY
Licensed entity
MONAXA SA (PTY) LTD
License status
Regulated
Instruments
Forex, commodities, indices, cryptocurrencies and shares
Frequently asked
Is MONAXA a safe broker?
MONAXA scores 4.6 / 10 on our Trust Score, above the 3.3 industry average. It is only offshore-regulated, which means weaker protection. It has no complaints on record. Trade only with funds you can afford to lose.
How is the MONAXA trust score calculated?
The score weighs five factors: regulation tier, transparency of disclosures, operating footprint, user sentiment, and complaint history. Each is scored out of 10 and combined into the overall figure shown at the top. Read our methodology.
What does "offshore regulated" mean?
It means the broker's licence comes from a jurisdiction with lighter requirements than tier-1 regulators like the FCA or ASIC. There's usually no compensation scheme, so recovering funds can be difficult if the broker fails.
Can I withdraw funds easily from MONAXA?
MONAXA publishes some trading terms, but always confirm withdrawal fees directly. Test with a small amount first and document every transaction.