Global Broker Regulation Inquiry App
WikiFX
Rustam R 
1-2 years
Is Monaxa safe to trade with?
Broker Issues
Regulation
05-21
United States
WikiFX
Reply
Since Monaxa is offshore-regulated, safety concerns naturally arise for me. Without regulation from a major authority, such as the FCA or ASIC, there’s less protection for my funds. While Monaxa does provide a range of assets and trading services, the absence of strong regulatory oversight could be risky for traders like me who prioritize financial security. Personally, I would be hesitant to trade large sums with a broker that lacks stronger regulatory protection.
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