Monfex.com is an exchange for trading cryptocurrency. It stands out from other exchanges by offering leverage of up to 50 times. The minimum trade size is just 0.01 BTC and there are 12 coins to trade on the platform. Commissions are just 0.075 percent.
Monfex advertises numerous features and characteristics that set it apart from the competition. There is a very reasonable amount of trades available, with the option to trade 12 coins and go long or short. You can also trade versus USD and have leverage of up to 50 times.
Monfex.com is an offshore CFD broker focused on the crypto currency market, offering 12 crypto pairs on a web based trading platform and leverage of up to 1:50. Unfortunately the broker is not regulated so trading with them might prove risky.
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How To Start With Monfex.com
To start trading with Monfex.com ,Indian residents first have to sign up for an account by following the steps below.
Step 1. Click on the “Login/Signup” link on the top right hand corner of the Monfex.com website.
Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.
Step 3. If you have a referral code, enter the code while creating your account.
Step 4. Submit the form and wait for an activation email to be sent to you.
Step 5. Click on the “confirm email” link in the activation email.
Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your Monfex.com account.
The liquidation level is 40%. This means that if the value of your account is $600 and you have open position with negative P&L $360 or more, all your positions will be fully liquidated at the best available price as your account value drops below 40%. (Liquidation level = Account value X 40%)
The minimum deposit amount is $100. No. There are no deposit fees. Yes. You can user your Visa/Mastercard.
Why people Choose Monfex.com
Deposits are stored with industry leading security measures. Set up your account and deposit funds in under 1 minute.
Trade 9 instruments (Forex, Indices, Commodities), long or short, with up to 100X leverage.
Feel in control on our state of the art user friendly platform.
Trade on tight spreads with the lowest commissions in the industry.
Take advantage of our friendly experienced support team 24/7, 365.
Monfex.com platform is mobile responsive. Meaning it will work on your phone. Simply visit Monfex.com on your phone. Yes, they have an easy to use web platform. The downtime period is everyday from 4:55 to 5:05 pm EST time zone. During this period you can not exit your positions or enter any new ones. Also financing fees will be charged/paid during this time.
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