Forex and CFD broker Monaxa is launching a proprietary trading service, according to a post by the company’s CEO, Chris Trikomitis, today (Thursday). Although the details about the new platform remain scarce, the service is branded Monaxa Prop.

Monaxa Prop

Trikomitis mentioned: “And we are finally ready. Our very own Monaxa Prop will be launching very soon.” Further, the post mentioned: “Your skills and our funding unlocks 85% profit share. Start your first challenge with $50.”

According to the Monaxa website, the company is comprised of several entities operating under one brand. One of the entities is reportedly registered by the Financial Services Commission of the Republic of Mauritius with an investment dealer license.

Trikomitis joined Monaxa early this year as the Chief Executive Officer from Exness, where he served as the Markets Director. He joined the company after dedicating 10 months to his former role at Exness. According to his LinkedIn profile, Trikomitis has nearly two decades of experience in the financial industry.

More companies are moving into prop trading amid the sector's growing popularity. Recently, Taurex joined the sector after launching its own prop platform, Atmos. Dubbed Atmos, the company launched a new website, atmos.tradetaurex.com, for the platform, mentioning that it is already live and in the testing phase ahead of its official launch.

More Companies Join Prop Trading

Besides that, the founder of IronFX, Markos Kashiouris, also expanded its operations in the retail trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term industry with the introduction of a proprietary trading platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, Ultimate Traders.

🌌 Something big is coming… 🌌

Imagine trading on a whole new level—where every tool, every move, is designed to elevate your experience. Something powerful is on the horizon, and it’s set to change the way you trade forever.

Are you ready? Stay tuned. #TradingRevolution pic.twitter.com/klxt00OcEx

— Taurex (@tradetaurex) November 5, 2024

According to the company, the new offering is operated by the UK-registered company Ultimate Traders Evaluation Ltd, which was started in February and has Kashiouris as the majority shareholder.

Elsewhere, prop firm TradersYard recently named Manuel Sonnleithner its new CEO. Sonnleithner has more than 10 years of experience in the trading industry. Prior to his new role, he worked as the COO of AgenaTrader and co-founded TradersYard with Gilbert Kreuzthaler.