Did you search "Is Monaxa a scam?" or "Does Monaxa refuse withdrawals?" and feel uneasy? Two points can be confirmed from official and public information. One is the licence of the operating entity, Monaxa Ltd. The other is a notice from FSA (Japan's Financial Services Agency) about unregistered solicitation.
In December 2024 (Reiwa 6), the FSA listed Monaxa Ltd as an unregistered operator (confirmed 17 October 2026). This is not a finding of fraud, but it means Japan's investor protections do not apply. After reading, you will know what to check before you decide.
Conclusion: is Monaxa a scam? Five facts we can confirm
- The operating entity is Monaxa Ltd. The official site states a Mauritius FSC investment dealer licence (registration number GB23201577)
- In December 2024, the FSA listed Monaxa Ltd (service name Monaxa) as an unregistered operator
- The listing records unregistered solicitation. It is not a finding of fraud or of refused withdrawals
- Japan's trust safekeeping and financial ADR protections do not apply
- Check processing times and limits against the portal display, and test with a small amount
The FSA listing records that the operator solicited residents of Japan without the registration Japan requires. It does not find any individual deposit or withdrawal to be fraud. Still, being outside Japan's protections in a dispute is an important risk.
Monaxa scam and withdrawal rumours: what we can confirm
We split the common worries about "Monaxa scam" and "Monaxa withdrawal refused" by type. We cannot verify individual social media posts, so we do not use them as evidence.
| Common worry | What we can confirm | Where to check |
|---|---|---|
| Is it a scam if it is unregistered in Japan? | Monaxa Ltd (service name Monaxa) is listed on the FSA page, dated December 2024. The listing records unregistered solicitation and is not a finding of fraud | FSA list of unregistered operators |
| Is the licence real? | The official site states a Mauritius FSC investment dealer licence (registration number GB23201577). You can also check the number in the register yourself | Monaxa official site and the FSC |
| Are my funds protected? | The official site states that client funds are segregated at Tier-1 banks. Check the applicable terms for details. This is a different mechanism from Japan's trust safekeeping | Monaxa official account types page |
| Will my withdrawal be refused? | The official home page shows that 85% of withdrawal requests are approved automatically. The deposits and withdrawals page gives no figures for processing time or limits | Monaxa official site, deposits and withdrawals page |
Monaxa review from official information: account types, bonuses and support →
Who operates Monaxa: Monaxa Ltd and its Mauritius licence
The official site states that Monaxa is regulated by the Mauritius Financial Services Commission (FSC). The licence is an investment dealer licence, and the registration number is GB23201577 (confirmed 17 October 2026).
| Item | Details |
|---|---|
| Applicable entity | Monaxa Ltd. Check the entity for your own account on the sign-up screen and in the footer |
| Regulation and licence | Mauritius FSC, investment dealer licence (registration number GB23201577) |
| Fund management | The official site states segregation at Tier-1 banks. Check the applicable terms for details |
| Zero-cut | The official site states that losses beyond your deposit do not occur. Check the terms for the conditions |
| Japanese registration | None. Listed on the FSA list of unregistered operators |
A Mauritius FSC licence is separate from registration for financial instruments business in Japan. Holding a licence does not mean you are protected under Japanese law.
Monaxa Ltd appears on the FSA list of unregistered operators
Monaxa Ltd appears on the FSA page "Names of persons conducting financial instruments business without registration" (confirmed 17 October 2026). The listing reads as follows.
| Item | Listing |
|---|---|
| Name | Monaxa Ltd |
| Service name | Monaxa |
| Date of notice | December 2024 (Reiwa 6) |
| Category | Overseas |
| Details | Solicited over-the-counter derivatives trading via the internet |
The listing is a public record that the operator solicited in Japan without the required registration. It does not judge whether withdrawals are honoured or whether trading is fair. It is, however, important information: Japanese law does not protect you against this operator.
The list shows an entity name. The list alone does not show whether the entity contracting with Japanese clients is the same one. Search the list yourself for the entity name shown on the sign-up screen.
Is offshore forex illegal? How to read the FSA warning and the unregistered operator list →
What it means to be outside Japan's trust safekeeping and financial ADR
An operator on the FSA list sits outside Japan's Financial Instruments and Exchange Act. Trust safekeeping, which protects client funds at a trust bank or similar, is not available as it is with domestic registered firms. Financial ADR (out-of-court dispute resolution) is not available either.
| Item | Japanese registered firms | Monaxa |
|---|---|---|
| Applicable law | Financial Instruments and Exchange Act and Japanese supervision | The system of the contracting entity's country and the client agreement |
| Safekeeping of client funds | Mechanisms such as trust safekeeping | Outside Japan's trust safekeeping. Segregation is stated on the official site |
| In a dispute | The firm's dispute resolution body (such as FINMAC) may be available | The FSA states it cannot mediate or conciliate individual disputes |
Segregation means the company keeps its own money separate from client funds. How far you are protected in an emergency depends on the applicable terms, so check them.
Withdrawal conditions to check so a Monaxa withdrawal is not refused
The official home page shows that 85% of withdrawal requests are approved automatically. The deposits and withdrawals page gives no figures for processing time or limits. It directs you to the "Funds" menu in the portal.
- Processing time and limits: no figures on the official site. Go by the portal display
- Fees: the official site notes that some bank and wallet fees are borne by the client
- Match the name on the deposit source to your registered name
- On a bonus account, the bonus is removed in proportion to withdrawals (terms)
- Withdrawals from a bonus account are not eligible for instant withdrawal processing
On a bonus account, the bonus is removed as you withdraw. This can reduce your balance, so read the terms for that account before you deposit.
Monaxa deposits and withdrawals: fees, processing time and minimums →
Spotting fake sites and solicitations that use the Monaxa name
Apart from checking the broker itself, you also need to avoid impersonation. Open the official domain and the login page yourself and compare them.
- Did you reach the login page from the official domain (monaxa.com)?
- Do the entity name and registration number on the sign-up screen match the official wording?
- Are you following a social media DM, a transfer to a personal account or a remote-access app request?
- Were you told profits are guaranteed or that you can always withdraw?
Five steps to check before you open a Monaxa account
- 01Save the contracting entity
Save the entity name, registration number and risk warning from the sign-up screen and footer. Do not record only the brand name.
- 02Search the FSA list
Search the FSA list by entity name and service name, and read the date and details of the notice.
- 03Check the FSC register
Check the entity name and registration number GB23201577 against the Mauritius FSC public register.
- 04Save the terms and withdrawal conditions
Save the client agreement, risk disclosure and withdrawal conditions, for example as PDFs. If you use a bonus, read the terms for that account too.
- 05Test deposits and withdrawals with a small amount
Deposit an amount whose loss would not affect your daily life. Check the withdrawal flow in the portal before you decide how much to fund.
Monaxa is an advertiser on this site, and we receive a referral fee when you open an account through this site. This article summarises official and public information. It does not guarantee safety, withdrawals or trading results. The official home page states that 79.9% of retail investor accounts lose money.
Frequently asked questions
Q. Is Monaxa a scam?
A. Within the sources for this article, the official site states that Monaxa Ltd holds a Mauritius FSC licence (registration number GB23201577). However, the FSA listed Monaxa Ltd as an unregistered operator in December 2024. That listing records unregistered solicitation and is not a finding of fraud. Check the terms and your withdrawal route yourself before you decide.
Q. Does Monaxa refuse withdrawals?
A. The official site shows that 85% of withdrawal requests are approved automatically. That is not a guarantee that any individual withdrawal will go through. The official site gives no figures for processing time or limits, so check the "Funds" menu in the portal. Also check in advance that the deposit source name matches your registered name, and the withdrawal rules for bonus accounts.
Q. Is Monaxa registered with Japan's FSA?
A. No. In December 2024 the FSA listed Monaxa Ltd (service name Monaxa) as a person conducting financial instruments business without registration. Protections such as Japan's trust safekeeping and financial ADR do not apply.
Q. How do I check whether Monaxa is safe?
A. Check the contracting entity on the sign-up screen, then check registration number GB23201577 in the Mauritius FSC register. Also read the FSA list of unregistered operators and the terms. The official site states segregation of funds at Tier-1 banks, but you need to check the applicable terms for details.
Q. Is Monaxa a suspicious company?
A. No public information lets us say whether it is suspicious. What we can confirm is that the official site states a Mauritius FSC licence, and that the FSA has listed it as unregistered. Understand that you are outside Japan's protections, and decide only with money you can afford to lose.
Q. What happens to users if the operator is on the FSA unregistered list?
A. The FSA warns that pursuing claims against an unregistered operator after a dispute is extremely difficult. As far as we checked, we found no statement that the user is punished. For a legal judgement, consult a professional such as a lawyer.
Sources and conditions
- Monaxa official: Home page (Japanese, checked 17 October 2026) →
- Monaxa official: Account types (Japanese, checked 17 October 2026) →
- Monaxa official: Deposits and withdrawals (Japanese, checked 17 October 2026) →
- FSA (Japan): Names of persons conducting financial instruments business without registration (Japanese, checked 17 October 2026) →
- Mauritius Financial Services Commission (where to check the register) →
- Monaxa account types and offers (this site) →
- Advertising disclosure and risk warning →
FX Textbook is an independent information site, not a broker or provider of personal investment advice. Forex and CFDs involve risk. You may lose some or all of your invested capital. No trading result is guaranteed.
NEXT STEP
Checked the licence and the FSA listing? Now look at Monaxa's account conditions.
The conditions of Standard, Pro, Zero and Cent, and the steps to open an account, are set out on the broker page. Check the entity name on the sign-up screen before you go ahead.
Brokers covered in this column
Account types, trading conditions and current offers are on each broker page.