Monex Securities Review – A Dream Coming True For Stock Traders

Monex-Securities Review

Monex Securities operates under the name Monex Securities Australia Pty LTD. This company is incorporated in Australia in 2010. But, the parent company Monex Group Inc is created in Japan in 1998.

With the good establishment, the company reached almost 4M clients worldwide. But how they manage to do that, you can find in this honest Monex Securities Review.

Some General Words About Monex Securities

Trading business is generally suspicious. But only if you don’t know what to look for. Primarily, traders are looking for protection and transparency. Which is exactly what Monex Securities provides.

With access to 12 worldwide stock exchanges company provides real-time data but also provides a functional mobile app for tracking your portfolio. One of the leaders in the industry that can be compared to this one you can find in our Robinhood review.

Broker name Reliable Broker Must Have
Legal name: Monex Securities Australia PTY LTD Transparently displayed in the disclaimer or legal documents
Regulation: Regulated Within your legal jurisdiction – local regulator
Registered in: Australia Your country or the country whose license applies in your legal jurisdiction 
Established: 2010 The older the domain – the higher the possibility the company is trustworthy
Website: Monexsecurities.com.au Domain should be from local or international zones, no .xyz etc.
Financial Authorities Warnings: N/A None
Contacts: Online contact form, e-mail Phone, email, social media, web form
If a withdrawal is possible: Yes Yes
Fees: Up to 0.3% brokerage fees Transparent fees – list of spread and commissions
If Active on Social Media: Yes – WE Chat Often present on social media
Investor Protection: N/A Compensation fund

        Regulation info

In the trading world nowadays, regulation is the key to safe trading. But not any regulation. Instead, you should look for Tier 1 regulators. Such as ASIC, BaFin, FCA or CFTC. Even though this company only holds an ASIC license it’s more than enough to sleep tight.

Thus, ASIC doesn’t require brokers to provide compensation schemes. Unlike some FCA-regulated brokers. Nevertheless, with Monex Securities regulated broker you can enjoy trading without any disturbances.

Monex Securities Profile

As for the technology, some traders might prefer Meta Trader or cTrader. However, completing the Monex Securities login procedure discovers a proprietary app. Whether you want to trade on the go or in your little nest, they have a suitable option for everyone. The platform provides multi-currency features, multi-asset watchlists and great analytical tools.

Trading platforms: Proprietary app
Account types: Standard
Financial Instruments On Offer:
  • Forex  USD, AUD, HKD
  • Shares Amazon, Apple, Tesla
  • ETFs
Maximum leverage: 1:1
Minimum Deposit: 200 AUD
Commissions/bonuses: No commissions or bonuses
Mobile app: Yes
Desktop app: Yes
Autotrading: Not available
Demo account: Not available
Education or Extra tools: Blog and video library

Is This Broker Safe?

Absolutely. With trusted regulations, fully transparent conditions and ownership details you can trade comfortably here. Yet, some traders prefer companies with domestic licenses. 

In case you are from the US, you are looking for NFA and CFTC licensed brokers. On the other hand, UK traders are mostly trusting the FCA.

How Monex Securities Platform Reach Clients and Who Are They?

In general, trusted brokers get most traders by recommendation. However, with the blog that Monex Securities is running most likely they appear on social media regularly. The company doesn’t have any referral program present on the positive website. Therefore, you can’t expect harassment that very often happens in the trading world.

Thus, their contact options are quite poor. There’s only an online contact form and e-mail available. As the analysis is saying, their clients mainly come from: 

  • United States
  • Australia
  • Japan
  • Indonesia
  • Mexico

If you are looking for another trusted broker with even stricter licensing, feel free to book a consultation with our team. One of the options for investors can be found in our CommSec review.

Deposits and Withdrawal Methods

Your fund will be deposited into our Commbank Trust Account and held by Monex on your behalf. Important to realize is that the company keeps deposits in segregated bank accounts. However, you need to have an Australian bank account for it. You can deposit your funds into your trading account by using:

  • Wire transfer
  • POLi
  • BPAY
  • PayID.

On the other hand, when you file a withdrawal request, your fund will be returned to your bank account.
As for the processing time it takes 1 business day to complete the withdrawal request. According to the company, there are no withdrawal fees.

Are There Reasons To Avoid This Company?

Practically the company is quite transparent. The only potentially worrying thing about this company is that there are no user-experience reviews. Also, what’s strange is that the company’s app on PlayStore has only a little over 500 downloads. Therefore, you don’t know from firsthand if everything that the company claims is true.

In general, it should be but if you are still not sure about them you can find other trusted brokers.

Also, traders that are looking for additional investment options like indices or cryptos would need to find another broker. One of many that provide similar services with similar security you can find in our FXCC review.

Our Safe Trading experts’ opinion of Monex Securities

Generally speaking, it’s quite rare to see a transparent broker like Monex Securities. To be honest, it’s refreshing considering how many bad brokers are available. With quite a low minimum deposit their offer is very attractive. Yet, some traders feel more comfortable if the brokerage is part of some compensation scheme. You never know when you can need it.

Thus, if you are still exploring your options there are always a few things to consider. Our expert team can provide you with all the necessary facts and recommendations about brokers, their features and security. Ultimately, you choose. Nobody can pressure you to use a broker that you don’t want. Therefore, no need to wait. Contact us today and book your first free consultation!

FAQ Section

Is My Money Safe With Monex Securities?

Monex Securities keeps deposits in segregated bank accounts and the funds are safe. However, there are not many reviews to prove all their statements.

What Is The Regulation Of Monex Securities?

The company only holds the license from Australian Securities and Investments Commission license.

How Do I Deposit Funds To My Monex Securities Trading Account?

For their funding methods, you need to have an Australian bank account. If you want to find brokers with more suitable options for your area, contact our team for advice.

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