Updates: Transactions above 100 USD now requires ID Verification - - - - MonEx.ng is now an Authorized Binary.com Payment Agent - - - - You can now make payments via Card for Instant Transactions.

Terms and Conditions

Terms and Conditions


  1. 1. We www.MonEx.ng (a website owned by Praxis Media and Technology Limited) and You refers to anyone using the service of MonEx.ng

    2. We are not a financial institution and we are not a subsidiary of Neteller, BitCoin, Paypal, Litecoin,

  2. 3. We serve you as an Independent E-currency Exchange Service Provider.

    4.  We respect the privacy of our customers and will not share your information with anybody

    5. Any deposit made to our bank account without following due process will not be treated. Such customer will have to register and verify his account before funding. We may not refund, Please be informed!

    6. Multiple accounts is not allowed. We allow only one account per customer. In the case multiple accounts are detected to have been opened by a single customer, one of the accounts will be kept active while others will be locked. Although, customer will not loose money!

    7. All transactions are made through our bank accounts. However Customers can also come to our office for business transactions.  

    8. For obvious security reasons, we do not provide our E-currency account numbers on this website. Customer willing to spend his/her E-currency to us is required to follow the instruction as contained in the member user area.

    9. You are responsible for supplying your correct E-currency Wallet or account number. In the event that your fund is sent to a wrong wallet or account number because you supplied a wrong account number, we will not be liable for any loss you may incur.
    10. You will not use our services for money laundering activities.
    11. We will keep records of all transactions and we will make them available to relevant authorities when necessary.
    12. All transactions are concluded within 15 Minutes - 24 Hours. If there is any delay in your account funding or withdrawal, Please get in touch with our support department on the contact information listed on our contact page.

    13. In the case you are spending your E-currency to us. We pay into your bank account the equivalent amount of the E-currency we receive in our account. 
  3. 14. We pay you the exact amount of the E-currency we receive in our E-currency account.

    15. If for any reason you need a refund and the reason is not from our part, a 10% handling fee will be charged.

    16. We reserve the right to change the price of any of our products by posting the information on our website. Note that a mail may not be sent to a customer for any changes in the price.
    18. We reserve the right to amend these terms and conditions at any time.
    19. By using any of our services, you agree to be bound by these terms as stated here.