In this detailed Moneta Markets review, we will explore the main features and benefits of Moneta Markets. This includes its trading platforms, instruments, fees, regulations and customer support.
Moneta Markets review
Moneta Markets, established in 2019, is a global online trading platform that provides flexible access to global Forex and CFD markets and access to a wide range of financial instruments, including forex, stocks, indices, commodities and more.
The Financial Sector Conduct Authority (FSCA) under license number 47490 licenses Moneta Markets South Africa (Pty) Ltd to regulate the company.
Overview of Moneta Markets
Feature | Details |
Bonus/ Promotions | 50% deposit bonus credit |
Costs – spreads, fees, commissions | STP accounts: Spreads from 1.2 pips Prime ECN: Spreads from 0.0 pips + $3 per lot/side Ultra ECN: Spreads from 0.0 pips + $1 per lot/side |
Islamic accounts | Swap-free accounts are available, with an internal fee applied after 10 days. |
Accepted currencies | USD, EUR, GBP, NZD, SGD, JPY, CAD, HKD, BRI, BTC, ETH, USDT |
Customer service languages | English, Chinese, Arabic, Malay, Korean, French, Portuguese |
Leverage | Forex: 1000:1 Precious Metals CFDs: 1000:1 Energies CFDs: 500:1 Soft Commodity CFDs: 50:1 Stock CFDs: 30:1 Index CFDs: From 20:1, 1000:1 |
Minimum deposit | Prime ECN & STP: $50 Ultra ECN: $20,000 |
Regulated regions | South Africa, St Lucia |
Tradable asset classes | Forex pairs, Index CFDs, Commodity CFDs, Individual Stock CFDs, Crypto CFDs, ETFs, Bonds |
Supported platforms | ProTrader powered by TradingView, MetaTrader 4 & 5, MetaQuotes App, Moneta Markets AppTrader, Moneta Markets Copy Trader App, ZuluTrade connectivity |
With a focus on user-friendliness and competitive pricing, Moneta Markets caters to traders of all levels, offering an intuitive experience on platforms like MetaTrader 4, MetaTrader 5, ProTrader and AppTrader.
Quick insights
Trading in 3 simple steps
- Open a live account within minutes.
- Select from a wide range of funding methods.
- You can access over 1000 instruments across all asset classes.
Regulation and compliance
- Regulatory compliance: Moneta Markets adheres to strict financial regulations in the regions it operates.
- Transparent access: The Company is committed to providing fair and equitable access to the global forex market.
- South African license: the Financial Sector Conduct Authority (FSCA) under license number 47490 licenses Moneta Markets South Africa (Pty) Ltd.
- Professional Indemnity Insurance: The Company has insurance to protect its representatives, employees, and authorized individuals.
- Client fund security: Client funds are held in a segregated account with a highly-rated global bank.
- Negative balance protection safeguards traders from losing more than their account balance.
Assets classes and instruments of Moneta Markets
- Forex Pairs 44+
- Indices 16+
- Commodities 19+
- Share CFDs700+
- Crypto CFDs30+
- ETFs50+
- Bonds 7
Trading platform of Moneta Markets
Comparison table that summarizes the key details for the PRO Trader platform, AppTrader, MetaTrader 4 MT4, and MetaTrader 5 MT5 platforms.
Feature | PRO Trader | AppTrader | MT4 | MT5 |
---|---|---|---|---|
Market access | 1000+ assets | 1000+ assets | 1000+ assets | 1000+ assets |
Charting | 100+ indicators | Full-screen charts | 40+ indicators | 21 timeframes |
Customization | Modules | Seamless switch | Custom EAs | Advanced EAs |
Risk management | Basic | N/A | Advanced | Advanced |
Execution | Ultra-fast | Fast | Ultra-fast | Quick |
Trading tools | TradingView | AI Market Buzz | Customizable | Forex signals |
Mobile trading | Web-based | All-in-one | Mobile app | Mobile app |
Commission | ECN spreads | ECN spreads | Zero | Low |
Key features | Customizable, advanced | On-the-go, global | Popular, powerful | Advanced, expert traders |
Account types of Moneta Markets
Moneta Markets offer Direct STP accounts, Prime ECN accounts, and Ultra ECN accounts.
Direct STP account
- Execution type: STP Straight-Through Processing
- Minimum deposit: $50
- Leverage: Up to 1000:1
- Spreads: From 1.2 pips
- Commission: $0
- Suitable For: Beginners
Prime ECN account
- Execution type: ECN Electronic Communication Network
- Minimum deposit: $50
- Leverage: Up to 1000:1
- Spreads: From 0.0 pips
- Commission: $3 per lot per side
- Suitable For: Scalpers and EAs Expert Advisors
Ultra ECN account
- Execution type: ECN
- Minimum deposit: $20,000
- Leverage: Up to 500:1
- Spreads: From 0.0 pips
- Commission: $1 per lot per side
- Suitable For: Professional traders and money managers
Deposit and withdrawal methods of Moneta Markets
Fund your trading account quickly and easily via the Client Portal, using a variety of funding methods.
Deposit methods
- E-wallets, Bank transfers, credit/debit cards.
- Moneta Markets covers fees for some methods.
- Deposits must be from the same name as the trading account.
Withdrawal methods
- Withdraw funds back to the original funding source.
- Processing time is 1-7 business days bank wires may take longer.
- Moneta Markets does not charge withdrawal fees, but bank wire transfers may incur charges.
Deposits, currencies processing times and fees are given below.
Method | Processing time | Available currencies |
International EFT | 2-5 business days | USD, GBP, EUR, SGD, JPY, NZD, CAD |
Credit/Debit Card (Visa, MasterCard) | Instant | USD, GBP, EUR, SGD, JPY, NZD, CAD |
FasaPay | Instant | USD |
JCB | Instant | JPY |
Sticpay | Instant | USD, GBP, EUR, SGD, JPY, NZD, CAD |
Fees and commissions of Moneta Markets
Moneta Markets fees are competitive, especially for traders who prioritize low spreads and are prepared to pay a small commission for access to the ECN accounts. Moneta Market’s minimum deposit varies depending on the account type: $50 for Ultra ECN Account and $20,000 for other accounts.
Spreads
- Direct STP account: Spreads start from 1.2 pips.
- Prime ECN account: Spreads start from 0.0 pips.
- Ultra ECN account: Spreads start from 0.0 pips.
Commissions
- Direct STP account: No commissions.
- Prime ECN account: $3 per lot per side.
- Ultra ECN account: $1 per lot per side.
Other fees
- No deposit or withdrawal fees.
- No inactivity fees.
- Swap rates are the interest charges or credits applied to positions held overnight.
- These rates are determined by the liquidity provider and can change weekly.
Additional tools
- Trading Academy: It accesses educational resources and webinars to improve your trading skills.
- Trading Signals: Get real-time alerts based on in-depth technical analysis.
- Copy trading: Mirror the trades of seasoned professionals in real time.
- An economic calendar helps you risk losing money, anticipate market volatility and make informed trading decisions.
Customer support
The award-winning multilingual team is available by phone, email, or live chat to answer your questions and provide technical assistance.
- Email: support@monetamarkets.com
- Phone UK: +44 (113) 3204819
- Phone International: +61 2 8330 1233
- Live chat: Available on the Moneta Markets website
Advantages
- A minimum deposit of only $50 makes it accessible to a wide range of traders.
- Moneta Markets offers three account types catering to different trading styles and experience levels.
- Demo account: Novice traders can practice and experiment with trading strategies risk-free.
- Social trading services allow traders to earn passive income by following successful traders.
- Negative balance protection safeguards traders from losing more than their initial deposit.
Disadvantages
- PAMM and MAM accounts are not currently available; Moneta Markets may introduce these features in the future.
- The product portfolio is limited.
- Stock fees are quite high and there is no investor protection.
- The choice of payment methods for deposits and withdrawals is somewhat limited.
- Traders seeking to reduce their risk exposure may find the lack of cent accounts a drawback.
Conclusion
Moneta Markets provides a full trading platform. It offers many instruments and competitive prices. The platform is designed to be user-friendly.
Moneta Markets provides tools and resources for everyone. Whether you are new to trading or have experience, you can find support here. These resources can help you achieve your financial goals. However, it is essential to consider the risks associated with trading and conduct thorough research before making any investment decisions.
Pro Tips
Are you ready to begin your trading career with Moneta Markets? Open a free account today to see the numerous opportunities available. Compare other brokers with our trusted forex brokers review. Check out insights into forex, CFDs, cryptocurrencies and banking. We are eager to hear your opinions—drop your feedback in the commentaries below!