The MoEDAL experiment at Point 8 of the LHC ring is the seventh and newest LHC experiment. It is dedicated to the search for highly ionizing particle avatars of physics beyond the Standard Model, extending significantly the discovery horizon of the LHC. A MoEDAL discovery would have revolutionary implications for our fundamental understanding of the Microcosm. MoEDAL is an unconventional and largely passive LHC detector comprised of the largest array of Nuclear Track Detector stacks ever deployed at an accelerator, surrounding the intersection region at Point 8 on the LHC ring. Another novel feature is the use of paramagnetic trapping volumes to capture both electrically and magnetically charged highly-ionizing particles predicted in new physics scenarios. It includes an array of TimePix pixel devices for monitoring highly-ionizing particle backgrounds. The main passive elements of the MoEDAL detector do not require a trigger system, electronic readout, or online computerized data acquisition. The aim of this paper is to give an overview of the MoEDAL physics reach, which is largely complementary to the programs of the large multi-purpose LHC detectors ATLAS and CMS.