Moneta Markets Review

Moneta Markets is a new brand from the same organisation that owns VantageFX, according to our research. They decided to use a proprietary trading platform with this new broker, which is a very simple and user-friendly trading platform. A new trading account requires a minimum initial deposit of $200, and you can instantly get a free demo trading account.

Moneta Markets will be thoroughly examined in this review, and you will be able to determine if it is the right broker for you.

We concentrate on the details available to clients who have direct contact with the brokers in any broker review. Furthermore, we always check with traders who have accounts with the broker to get an unbiased opinion on the services given.

Overall, Moneta Markets provides a streamlined approach to trading in global markets, as well as impressive and robust trading strategies that appeal to a wide range of traders. As compared to other brokers, the market conditions are favourable and reasonable, and the trading and non-trading costs are relatively low.

Despite being a relatively new broker, Moneta Markets appears to have developed a strong reputation among industry traders. In less than a year since its inception, the broker has already won two awards.

About Moneta Markets

Moneta Markets is a Cayman Islands-based forex broker. The broker was founded in 2020 as a division of Vantage International Group Limited. The Cayman Islands Monetary Authority (CIMA) regulates the broker, which provides traders with access to over 300 financial instruments.

Clients of Moneta Markets have access to their platform through the web and a customised trading app. Traders can trade 24 hours a day, seven days a week, allowing them to profit from market volatility around the clock with leverage of up to 500:1, which is one of the highest in the industry.

Moneta Markets does not charge any funding fees for deposits made using a variety of methods, including credit/debit cards, wire transfers, JCB, Bitcoin, FasaPay and STICPAY. Furthermore, Moneta Markets offers multilingual service to its customers 24 hours a day, seven days a week.

Users of Moneta Markets can speculate on and trade a number of financial markets, including Forex, commodities, indices, stocks, and even cryptocurrency. In total, this broker offers CFDs on more than 300 asset classes. Moneta Markets provides a web trading platform that allows orders to be put without the use of a third-party solution. 

The company has over 70,000 customer accounts and a monthly trading volume of more than $100 billion. 

In recent years, Moneta Markets has received a variety of prestigious awards. For example, the Moneta Markets won the ‘Best Customer Support’ award for a CFD broker in the 2020 M&A Today Global Awards, and the ‘Most Advanced Web-Based CFD Trading Platform’ award in the 2020 CV Magazine Corporate Excellence Awards.

Is Moneta Markets Regulated?

Since May 2018, the Cayman Islands Monetary Authority (CIMA) has regulated Vantage International Group LTD, the parent company of Moneta Markets, under the Securities Investment Business Law (SIBL) number 1383491. Only eighteen brokerages are governed by this agency. It should be noted that this broker does not have an investor compensation fund to cover investors from unexpected financial issues. At the National Australia Bank, all client funds are kept separate (NAB).

Employees, members, and other approved persons are protected by professional indemnity insurance. Overall, traders will feel safe and comfortable depositing money with Moneta Markets because of the degree of transparency and regulation.

The Cayman Islands Monetary Authority, which regulates only 18 brokerages, lacks the reputation (and perhaps experience) of other regulators, but it offers sufficient security.

How Safe Is Moneta Markets?

Most broker reviewers award Moneta Markets a high Trust Ranking, suggesting that it is a moderate-risk broker. Moneta Markets is a privately held company that does not run a bank.

Two tier-1 regulators (high trust), zero tier-2 regulators (average trust), and one tier-3 regulator have all granted Moneta Markets their approval (low trust). The Australian Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA) are also tier-1 regulators that have approved Moneta Markets (FCA).

Moneta Markets – Trading Platform

Moneta Markets’ platform offering is a bit of a mixed bag. It is based on the Moneta Markets WebTrader platform, which is an in-house application with a range of helpful features, such as quick access to risk control resources like ‘take profit’ orders. Withdrawals and deposits are also easy, and there’s a handy calculator that shows trading volume in both pip and dollar format.

However, this broker’s list of available platforms does not include the popular MetaTrader platform. This broker may not be the best option for traders who want to use MetaTrader because they do not provide it.

Meanwhile, the broker has a smartphone app that was created in-house also. This Android and iOS app is available for free.

What Are the Pros and Cons of Moneta Markets?

Why should you choose to trade with Moneta Markets?

What Can You Trade on Moneta Markets?

Moneta Markets provides traders with over 300 CFDs in forex, stocks, market indices, commodities, and cryptocurrency. Moneta Markets has a proprietary WebTrader as well as Android and iOS smartphone applications. The WebTrader is easily customisable and comes with a number of features that make trading CFDs a breeze.

Over 45 technical indicators, six different chart types, trend line indicators, and a collection of drawing tools are among the features. A Market Buzz driven by AI, live buy and sell signals, and in-depth market insights are also available. Stop Loss and Take Profit capabilities are also available to help traders manage risk.

Moneta Markets provides native smartphone trading applications with all of the functionality of the WebTrader. This means you can trade while you’re out and about. Both Google Play and Apple’s App Store have the apps. There is no desktop app available from Moneta Markets, however, the Moneta Markets proprietary platform tends to be superior to MT4.

Moneta Markets is an STP broker, which means that it charges a mark-up on spreads and a commission on other securities. The spreads can be as low as 0 pips, and the commission can be as low as 0.1 percent. Also, some assets may be subject to rollover payments. Moneta Markets does not charge fees for withdrawals or deposits, but the financial institutions handling the transactions may charge a fee.

Moneta Markets has an award-winning customer service department that is open 24 hours a day, seven days a week. The agents can be contacted by phone, email, or live chat.

Bonus & Promotions

There are no bonus or promotion limitations since Moneta Markets is regulated by CIMA. As a result, when an account is funded with $500 or more, the broker receives a 50% deposit bonus. More specifics about this incentive and promotion, as well as the terms and conditions, can be found on the broker’s website.

The broker also has a ‘Refer a Friend’ feature, which is done automatically from the Moneta Markets trading platform. In the module, users can access unique referral links, monitor sign ups and eligible leads, and display earnings in a clear and real-time manner.

Customer Support

Moneta Markets offers multilingual customer service 24 hours a day, 7 days a week. Traders can contact them via email or phone, but live chat is the most convenient alternative. There is a FAQ segment that seeks to address the most commonly asked questions. Customer service is a feature that most traders never need, but since this broker is new, it might be needed more frequently.

Anyone in need of assistance should have no trouble locating it at Moneta Markets.

Furthermore, this broker offers a straightforward risk disclaimer for traders who want to learn more about the risks associated with speculating on assets like these. The following is the risk disclaimer, which can be found on the Moneta Markets website:

“Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.”

Opening an Account

It’s quick and simple to open a live trading account. Since the Moneta Markets WebTrader is an all-in-one solution, sign-up can be done right from the trading platform.

Clients from some countries are eligible for ID3 authentication, which means they won’t have to submit proof of identity documents and can trade even faster. All other clients will use the WebTrader platform to upload their verification documents.

It’s as easy as clicking a button to create additional live accounts once your first one is up and running.

Funds Withdrawal

Moneta Markets WebTrader platform allows clients to make deposits and withdrawals from your account. Clients can deposit and withdraw money using a number of methods, including credit/debit cards, Skrill, NeTeller and wire transfers, with withdrawals taking 1-2 business days.

Reasons to Consider Moneta Markets

Moneta Markets Types of Accounts

A Forex account is a trading account that traders use to exchange financial instruments with a particular broker.

Brokers may offer a range of trading accounts, or they may only offer one, in which they offer specific trading conditions that cater to a variety of traders based on their trading needs and goals.

The number and type of accounts available to traders will differ from one broker to the next, which is why traders must understand their trading needs and goals, as well as other considerations, before selecting a broker.

Traders can only open a CFD account with Moneta Markets. Traders are not charged any account opening or maintenance fees when they open a live trading account.

Traders who open an account with Moneta Markets gain access to a range of features, including over 300 trading instruments, high leverage of 1:500, with spreads starting at 1.1 pips on EUR/USD, and more.

Since Moneta Markets does not charge a commission on trades, traders should be aware that the spreads they will get have a mark-up.

Cost and Fees, Commissions and Spreads

When assessing a broker, it is important to consider the fees that are paid. Many factors influence this, including the spread, commissions, and margin requirements.

The spread is the difference between the bid and ask prices, expressed in pips, the smallest percentage by which a price will move up or down.

A margin requirement is the amount of money that the trader must put down as leverage for the transaction at the start of the trade, or have available in their trading account. When leverage is used, this amount is often decreased dramatically.

When registering for a live trading account with Moneta Markets, traders must make an initial deposit of $200. On EUR/USD, traders can anticipate spreads as low as 1.1 pips.

There are no commission fees on trades, meaning that the spreads are market-up. In addition, no account opening or maintenance fees are levied by Moneta Markets. There are no fees for depositing or withdrawing funds using any of the available payment methods. When using international bank wire transfers, however, traders can be charged.

These fees are levied by the trader’s financial institution, and certain payment systems may also impose handling fees. For any other fees that may be paid, traders must receive confirmation from Moneta Markets and their financial institution.

Broker fees are prone to revision, so traders should double-check with the broker before opening a live trading account. There may also be country surcharges, which will be determined by the trader’s local authority.

Conclusion

To sum up, Moneta Markets has created an amazing platform for online trading, with over 300 products, a high leverage ratio of up to 1:500, and some of the most valuable and innovative applications in the industry, such as the DupliTrade, market buzz, and market sentiment app. As a result, the Moneta Markets WebTrader trading platform has been dubbed “2021’s Most Advanced Web-Based Trading Platform of the Year.” The fact that Moneta Markets is regulated and licensed adds to its attraction.

Finally, Moneta Markets allows you to trade on an easy-to-use trading platform with a well-regulated online broker.