monaxa.com

​Warning: Profit Confiscation & Contradictory Actions - Unprofessional Broker

​I opened an account with Monaxa on Friday (Feb 6, 2026). After trading for only one business day and making a profit of $680, they abruptly closed my account (ID: 390027) claiming "prohibited strategies" without providing any technical evidence.​What is even more suspicious is their financial handling:​They officially approved my withdrawal requests via email.​Then, they suddenly rejected the same withdrawals and wiped my balance to zero.​They only returned my initial deposit of $118, which is an admission that my account was verified and legitimate.​They even sent an email confirming the approval of my USDT withdrawal method (Ompay) right before confiscating the profits.​They are trying to justify this by claiming "previous correspondence" and "multiple accounts," but they accepted my deposit and verified my KYC without any issues until I made a profit. This is a clear case of "Profit Shaving." I have documented all conflicting emails and screenshots and will be filing a formal complaint with the FSA.​STAY AWAY if you intend to make a profit!​UPDATE (Feb 11, 2026): > I have officially filed a formal complaint with the Financial Services Authority (FSA) Seychelles regarding the $680 in confiscated profits. The broker has acknowledged my account's validity by returning only the initial $118 deposit (Transaction ID: 1993664), but they are still withholding my earned profits without any technical evidence. I have provided the FSA with proof of their contradictory emails where they approved my withdrawal method before seizing the funds. I will not remove this review until the full amount is settled.

Date of experience: Feb 09, 2026