Review Time
This comment is related to the same case mentioned in the previous review regarding Monaxa and account 392662.
Thank you for your response, but your explanation raises several serious concerns.
First, the trades were executed normally on your platform MetaTrader 5, using the leverage and trading conditions that your company openly provides to clients. At no point did the system block, reject, or warn that these trades violated any rules.
Second, holding positions through market close is a normal and widely used trading practice in the forex and commodities markets. If such activity is considered “prohibited,” the broker should technically prevent those trades from being opened near market close instead of allowing them to execute and later cancelling profits after the fact.
Third, your argument about “asymmetric risk” is not convincing. Every trader also takes risk when holding positions over the weekend because price gaps can move against the trader just as easily as in their favor. The risk is mutual, not one-sided.
Fourth, your Terms & Conditions state that gap trading may be restricted if it is clearly intended to exploit price gaps. However, you have not provided any specific evidence that my trades were part of a systematic strategy designed to exploit gaps. You only stated that the market reopened with a gap in Gold.
The reality is simple:The trades were allowed by your platform, executed normally, and only after a large profit was generated were they classified as a violation.
This raises a fundamental question about fairness. If a trade is considered unacceptable, it should be prevented before execution, not retroactively invalidated after it becomes profitable.
I remain open to a fair and transparent resolution. Otherwise, I will continue documenting this case and sharing the full evidence publicly so other traders can understand exactly what happened.
I would like to thank Monaxa for the excellent support they have provided.
Their team is always responsive, professional, and willing to help whenever needed.
Working with Monaxa has been a great experience so far. The platform is reliable and the support team truly cares about their partners and clients.
I appreciate the partnership and look forward to continuing to grow together.
Highly recommended!
My experience with Monaxa – Profits cancelled after successful trading
I want to share my experience with Monaxa so other traders can be careful.
I opened a standard trading account and deposited around $99. I traded manually on MT5 using the leverage provided by the broker (1:2000). All my trades were placed normally through the platform without any bots, arbitrage systems, or manipulation.
Before the market closed, I opened several small buy positions on Gold (0.01 lots each), gradually increasing my exposure to around 0.39 lots in total. This is a common trading practice where traders scale into positions.
When the market reopened, Gold moved strongly upward due to global events, creating a price gap. My trades became profitable and my account balance reached around $3787.
However, when I requested a withdrawal, Monaxa cancelled all my profits and claimed that I used “gap trading abuse”. They returned only my initial deposit and refused to pay the profits.
I asked them to clearly explain which rule I violated, but their response was simply that my trading created “asymmetric risk for the broker” because of negative balance protection.
In my opinion this is not fair because:• The broker provides the leverage themselves (1:2000).• All trades were executed normally on their platform.• No trading rule clearly prohibits opening positions before market close.
If this trading strategy was not allowed, the broker should have prevented the trades from being opened in the first place instead of cancelling profits after the fact.
This experience has been very disappointing. I hope the company will review this case fairly and reconsider their decision.
Until this issue is resolved, traders should be aware of the potential risks when trading with this broker.
Title: Monaxa Cancelled My Profits After Withdrawal RequestI want to share my experience with Monaxa so other traders can be careful.I opened a trading account and deposited $25. The company offered a promotion where they add a $50 bonus. I traded normally on the platform and my balance eventually reached $670.When I requested a withdrawal of $620, the company suddenly cancelled all my profits and only returned my original deposit of $25.Monaxa claimed that I violated their bonus terms, but they waited until I made profits and requested a withdrawal before taking action. If there was any issue with the account or trading activity, it should have been addressed earlier, not after profits were made.This behavior raises serious concerns about fairness and transparency. Many traders rely on brokers to act honestly and respect legitimate trading profits.I hope Monaxa reviews this case again and provides a fair resolution. Otherwise, I will continue sharing my experience on multiple review platforms to warn other traders.
My experience with Monaxa – Profits cancelled after successful tradingI want to share my experience with Monaxa so other traders can be careful.I opened a standard trading account and deposited around $99. I traded manually on MT5 using the leverage provided by the broker (1:2000). All my trades were placed normally through the platform without any bots, arbitrage systems, or manipulation.Before the market closed, I opened several small buy positions on Gold (0.01 lots each), gradually increasing my exposure to around 0.39 lots in total. This is a common trading practice where traders scale into positions.When the market reopened, Gold moved strongly upward due to global events, creating a price gap. My trades became profitable and my account balance reached around $3787.However, when I requested a withdrawal, Monaxa cancelled all my profits and claimed that I used “gap trading abuse”. They returned only my initial deposit and refused to pay the profits.I asked them to clearly explain which rule I violated, but their response was simply that my trading created “asymmetric risk for the broker” because of negative balance protection.In my opinion this is not fair because:• The broker provides the leverage themselves (1:2000).• All trades were executed normally on their platform.• No trading rule clearly prohibits opening positions before market close.If this trading strategy was not allowed, the broker should have prevented the trades from being opened in the first place instead of cancelling profits after the fact.This experience has been very disappointing. I hope the company will review this case fairly and reconsider their decision.Until this issue is resolved, traders should be aware of the potential risks when trading with this broker.
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