Company Information
- Company Name: Monevis
- Company Legal Name: Monevis Brokers Ltd.
- Company Registration No.: 2023-00569
- Country of Registration: LCLC
- CEO Name: Milos
Challenge Details
Monevis offers a Two Phase Challenge, designed to test traders' skills while providing clear rules and a structured path to access larger capital. Let’s break down the key details of this challenge:
Pricing:
- $10,000 Account: $80
- $25,000 Account: $180
- $50,000 Account: $297
- $100,000 Account: $507
- $200,000 Account: $987
Rules:
- Profit Target (Phase 1): 10%
- Profit Target (Phase 2): 5%
- Total Loss (Drawdown): 10%
- Daily Loss (Max Daily Drawdown): 5%
- Profit Share: 75% and can go up to 90%
- Drawdown Type: Static-Based Drawdown
- Time Limit: Unlimited
- Leverage: High leverage is allowed, but no specific ratio is provided
- Max Lot Size: Not specified, but traders should avoid overleveraging
- Payout Frequency: 7 days (with the optional add-on), otherwise 14 days
- Allows Copy Trading: Yes
- Min Trading Days: 5 Days
Scaling Plan
Monevis allows traders to scale up their accounts up to $2,000,000, provided certain conditions are met:
- Scaling Eligibility: Traders can scale their accounts after each successful payout exceeding 5% of cumulative profit per month. Accounts can increase by 25% of the initial balance at each stage.
- If you purchase the 7-day payout add-on, you can scale up every month when you meet the criteria. Otherwise, scaling is available every 2 months.
Spreads and News Trading Rules
Spreads:
Monevis offers competitive spreads for all account sizes. They even provide a demo spread test account for traders to evaluate the tradeable assets and spread conditions:
- Account Number: 100009
- Password: $Monevis$2024$
- Server: MonevisBrokers-Live (MT5)
News Trading Rules:
Yes, news trading is permitted across all Monevis accounts. However, Monevis does warn traders about the risks involved, especially during high-volatility news events. Traders are fully responsible for any losses or unexpected spreads during these times, as Monevis cannot control spread widening during major news releases.
Other Important Rules
Daily Drawdown Calculation:
At Monevis, Daily Drawdown is calculated based on the end-of-day closing balance. This drawdown resets every day at 23:05 CET. Traders must be cautious as the drawdown limits changes based on the highest amount of balance the account has at the current time and increase or decrease based on that.
Countries Banned from Purchasing:
Monevis does not offer services to traders in the following countries:
- Afghanistan
- Central African Republic
- Congo (Brazzaville)
- Congo (Kinshasa)
- Crimea
- Donetsk
- Cuba
- Guinea-Bissau
- Iran
- Iraq
- North Korea
- Libya
- Luhansk
- Mali
- Russian Federation
- Somalia
- South Sudan
- Sudan
- Syria
- United States
- Venezuela
- Yemen.
This restriction list is subject to updates, so be sure to check with Monevis if you reside in a restricted country.
Prohibited Trading Strategies:
While most trading strategies are allowed, traders must avoid overleveraging and reckless trading. HFT is also not allowed.
Payout Methods
Monevis offers fast and reliable payouts through their payment partner, Rise. Traders can withdraw directly to their bank accounts or convert payouts to alternative payment methods through Rise works. Monevis is also working on expanding their payout options to give traders even more flexibility.
IP Rule
Monevis takes security seriously. Traders must ensure that the region of their IP address matches the location from which they purchase their evaluation and log into their accounts (including Phase 1, Phase 2, and the Master trading account). If the Monevis risk team detects any changes in IP region, they may reach out to confirm and request proof of identity.
If the trader plans to travel, it is important to notify the Monevis support team to avoid unnecessary disruptions.
