How can we help you?
Didn't find an answer to your question? Email us at [email protected]
Account Opening
What do I need to open my account?
Opening your account with Monfex is super quick and easy. Simply fill out our short online application.
Can I open an account if I am resident of the United States?
No. United States residents are prohibited from opening an account.
Whom do I contact for issues with account?
If you encounter any issues, please contact [email protected].
What countries are restricted from opening an account with Monfex?
All OFAC countries, Israel, Ukraine, United States and US territories.
Funding
How do I fund my account?
You fund your account by clicking the deposit button at the top right hand corner when logged into your platform.
How can I deposit?
You can Deposit with Visa/Mastercard or Wire transfer.
Is there a deposit fee?
No. There are no deposit fees.
Whom do I contact for account funding problems?
If you encounter any issues, please contact [email protected].
What is the minimum deposit amount?
The minimum deposit amount is 250 USD
Instruments
What cryptos can I trade on your site?
Currently you can trade the following coins: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Zcash (ZEC), Monero (XMR), OmiseGO (OMG), NEO, Ethereum Classic (ETC), EOS, Dash (DSH). We will be adding more cryptocurrency pairs soon.
Against what crosses can I trade the coins you offer?
You can trade all coins versus the USD.
What is the difference between your Leveraged Crypto Contracts and Futures?
Our leveraged crypto contracts have no expiration date.
What are the financing charges on your contracts?
The financing charges on Monfex Leveraged Crypto contracts change dynamically based on the charges by our liquidity providers. They are displayed on our instruments page.
Platform
What platform do I use for trading?
Our user friendly web and mobile platform.
Is there a mobile app?
Our platform is mobile responsive. Meaning it will work on your phone. Simply visit Monfex.com on your phone.
Is there a web platform?
Yes, we have an easy to use web platform.
What is the Monfex maintenance downtime period?
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.
Trading
What are typical spreads on BTC/USD, ETH/USD, XRP/USD?
Please click here to look at our live pricing widget so that you can see actual spreads on our most popular coins.
Can I lose more than I put in?
No, you cannot lose more funds than you put into your account when you trade with us.
Can I go short?
Yes. You can go short by placing a sell order.
What are your liquidation levels?
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%)
Where do I call for trade support?
For trade support, you may email [email protected].
What are the financing fees on the Monfex crypto contracts?
Financing fees are fees that people have to pay when holding a leveraged position overnight. They are displayed on our instruments page.
What is the maximum amount of trades I can make per day?
The maximum position size you can trade depends on the contract you are trading. Please take a look at our instruments page for specific. If you want to increase the maximum amount of trades, please email [email protected] with your request.
What is the minimum position size I can trade?
The minimum position size you can trade depends on the contract you are trading. Please take a look at our instruments page for specific minimums.
What is the maximum position size I can trade?
The maximum position size you can trade depends on the contract you are trading. Please take a look at our instruments page for more details.
How can I contact trade support?
For trade support please email [email protected].
Withdrawals
How do I withdraw?
Simply select the withdrawal option in your platform menu. Enter the amount you want to withdraw. Withdrawals will be processed within 48 hours.
Can I lose more than I put in and actually owe Monfex money?
No. You cannot lose more money than you have deposited into your account with Monfex.
If I have a problem with my withdrawal who do I contact?
If you encounter any issues, please contact [email protected].