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Monex share trading review
Gain access to over 50,000 listed global securities in 12 different international markets when you sign up with Monex Securities.
The online and app brokerage service allows you to trade in over 70% of the global market cap, while offering $0 brokerage on US and Hong Kong trades.
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0.132% (Min AUD 21.95)
Standard brokerage fee
ASX, NASDAQ, NYSE, Hong Kong Stock Exchange, Shanghai Stock Exchange, Tokyo Stock Exchange, Singapore Exchange, and more
Available markets
Phone, Email
Support
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Details
| Type of broker | Online |
|---|---|
| ASX products | Shares, Exchange traded funds |
| Available markets | ASX, NASDAQ, NYSE, Hong Kong Stock Exchange, Shanghai Stock Exchange, Tokyo Stock Exchange, Singapore Exchange, and more |
| Standard brokerage fee | 0.132% (Min AUD 21.95) |
| Support | Phone, Email |
What can I trade with Monex?
Monex is a share trading platform that allows you to trade both domestic and international securities from either your phone or computer.
The broker highlights that you can trade in 12 different markets, which make up around 70% of total market capitalisation.
The 12 countries you can trade with are:
- United States
- Hong Kong
- China
- Taiwan
- Japan
- Singapore
- South Korea
- Malaysia
- Indonesia
- Thailand
- Philippines
- Australia
While the broker allows access to various countries around the world, it is exclusively for share trading. This means you can't trade forex or CFDs through Monex.
Key features
Multi-currency: If you sign up with Monex you'll be able to trade in various currencies including in AUD, USD, HKD, RMB, SGD and JPY.
Lower FX fees: Monex does not automatically transfer sales into Australian dollars. This means that funds will be held in the country's currency in which they were traded. For example, if you sell a share in Japan, your funds will be transferred to the Japanese yen. If you were to buy another share in Japan, you would save on the forex fee because of this process.
Currency flexibility: You can trade in any currency that Monex supports. That means, for example, you can buy US shares using Australian currency. However, you will be charged a forex fee.
Multi-market trading: Access exchange listed securities in 12 international stock trading markets across Asia and the United States, covering over 70% global market capitalisation.
Multi-market watchlist: ​​You can also add stocks from 12 international markets into one watchlist, making it easier for you to find the best opportunity for you at that time.
Trading ideas and tools: Monex gives access to trading tools, including technical analysis on almost every financial instrument across the 12 markets it gives access to.
App and desktop: Monex offers a mobile app platform with over 50,000 global listed companies from either your phone or computer.
What does Monex charge?
Monex fees vary greatly depending on what country you are trading.
| Monex brokerage fees | ||
|---|---|---|
| United States (NYSE, NASDAQ) | Free | USD |
| Australia (ASX) | 0.133% (Min. AUID21.95) | AUD |
| Japan (TSE) | 0.10% (Min. JPY2,000) | JPY |
| Hongkong (HKEX) | Free | HKD or USD or RMB |
| China (SSE, SZSE via Hongkong Stock Connect) | 0.10% (Min. RMB88) | RMB |
| China B (SSE) | 0.25% (Min. USD10) | USD |
| China B (SZSE) | 0.25% (Min. HKD80) | HKD |
| Taiwan (TWSE) | 0.20% (Min. NTD400) | USD |
| Korea (KRX) | 0.30% (Min. KRW15,000) | USD |
| Indonesia (IDX) | 0.25% (Min. IDR200,000) | USD |
| Malaysia (MYX) | 0.25% (Min. MYR80) | USD |
| Philippines (PSE) | 0.30% (Min. PHP500) | USD |
| Singapore (SGX) | 0.25% (Min. SGD25 or HKD120 or USD18) | SGD |
| Thailand (SET) | 0.30% (Min. THB300) | USD |
Is Monex safe for beginners?
Despite so many options potentially being overwhelming for beginners, Monex is safe to use with many of the same features you would expect to see from its competitors.
Monex does a good job when it comes to education facilities to help investors catch up, and also includes a YouTube series of the most popular traded shares, which can help beginners generate new share ideas.
Who should use Monex?
Monex is a relatively cheap broker that trades in multiple countries, meaning it will appeal to the majority of investors.
For those looking to trade in predominantly Asia and US markets, Monex will be a good broker for them.
However, while Monex allows access to 70% of the world, for investors who want a truly global broker this might not be the best option for them.
How to get started with Monex
Creating an account is relatively straightforward and should only take you a few minutes to sign up.
Signing up to Monex can be done in 4 simple steps.
- 1. Complete the application form with your basic information.
- 2. Deposit funds into your account.
- 3. Start trading with Monex.
- 4. Monitor and review your positions.
Support
Monex offers support to its customers in 2 main ways:
- 1. Online contact us form
- 2. Through WeChat
