Monaxa fails to provide ownership or executive information on its website. Additionally, Monaxa marketing videos feature AI-generated avatars.

Monaxa’s official Facebook page is managed from Indonesia and Malaysia:

As of February 2025, SimilarWeb tracked top sources of Monaxa website traffic as Malaysia (42%), Singapore (24%) and Japan (14%).

This suggests whoever is running Monaxa is based out of Indonesia and Malaysia (weighed in favor of Malaysia).

Instead of being honest about its Asian origins, Monaxa provides shell company for the tax-havens Anguilla and Mauritius.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, especially in dodgy jurisdictions, for the purpose of MLM due-diligence shell companies are meaningless.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.

Monaxa’s Products

Monaxa has no retailable products or services.

Affiliates are only able to market Monaxa affiliate membership itself.

Monaxa’s Compensation Plan

Monaxa bundles access to an unregistered forex trading platform with “Acadamis courses”.

Acadamis courses cost $150 and are bundled with a $100 in trading balance.

Passive returns are derived through Monaxa’s “copy trading” scheme. Additional funds can be invested into Monaxa on top of the original $100 balance.

The MLM side of Monaxa pays on recruitment of Monaxa affiliates.

Referral Commissions

Monaxa pays referral commissions via a unilevel compensation structure.

A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):

If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.

If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.

Monaxa caps payable unilevel team levels at six. Referral commissions are paid out on $150 payments made across these six levels as follows:

  • level 1 (personally recruited affiliates) – $10
  • level 2 – $4
  • levels 3 and 4 – $2
  • levels 5 and 6 – 50 cents

Acadamis Course Commissions

Monaxa allows affiliates to create their own Monaxa courses. These courses can be sold to other affiliates and pay the same as referral commissions above.

The same commissions are paid on the sale of Acadamis courses created by other affiliates.

Joining Monaxa

Monaxa affiliate membership is free.

Full participation in the attached income opportunity requires a minimum $150 investment.

Monaxa Conclusion

Monaxa appears to be yet another Malaysian forex scam.

Essentially with Monaxa you have an unregistered forex investment scheme attached to a pyramid recruitment scheme.

Monaxa’s shell company registrations are meaningless. Monaxa is not registered to with commodities regulators in any of the countries it’s promoted in (currently Malaysia, Singapore and Japan).

With nothing marketed or sold to retail customers, the MLM side of Monaxa is a clear-cut pyramid scheme.

The Acadamis courses don’t add any legitimacy to Monaxa’s fraudulent business model. Notwithstanding Acadamis appears to be run by the same scammers running Monaxa:

If Monaxa’s own marketing is anything to go by, this lends itself to Acadamis courses being AI generated slop and/or plagiarized material.

As with all MLM pyramid schemes, once affiliate recruitment inevitably dries up so too will commissions.

This will eventually prompt a collapse, resulting in the majority of Monaxa affiliates losing money.