Moneta Markets Review and Tutorial 2021
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|Moneta Markets Facts & Figures|
Moneta Markets is a regulated FX & CFD broker offering a proprietary web platform.
|Bonus||50% deposit bonus|
|Instruments||Forex, CFDs, indices, shares, commodities, cryptocurrencies|
|Min. Trade||0.01 lots|
|Access multiple financial markets with CFDs.|
Trade with leverage on a range of FX pairs.
Trade cryptos on the USD with 1:5 leverage.
|Coins||BTC, BCH, DSH, LTC, ETH, XRP|
Moneta Markets is a forex and CFD broker with a proprietary web platform, a deposit bonus deal, plus a range of analysis and trading tools. This review unpacks opening times, payment methods, investor safety and more. Find out if you can trust Moneta Markets.
Moneta Markets Company Details
Moneta Markets is a subsidiary of Vantage International Group Limited (VIG), a company operating since 2009 and holding multiple regulatory licenses. Moneta Markets itself is fairly new, registered in the Cayman Islands in 2018 and regulated by the Cayman Islands Monetary Authority (CIMA).
Collectively, the group has over 70,000 client accounts with an average monthly trading volume of over $100 billion. Moneta Markets offers over 300 instruments through its proprietary web-based platform.
The broker’s web platform is an all-in-one solution, offering account management and trading all from the same dashboard. With the built-in Client Portal, traders enjoy easy deposits and withdrawals in a few clicks. The dashboard offers all the features you need for agile trading, including:
- 6 different chart types and 9 time-frames
- Easy-access Order Module with a real-time calculator
- Precision charting with 45+ built-in indicators, plus drawing tools
- Stop Loss/Take Profit levels displayed in pips, price, and dollar value simultaneously
WebTrader can be accessed straight from your internet browser once you have registered for an account.
MT4 & MT5
The broker has also recently introduced the MT4 and MT5 platforms. These offer market-leading trading tools, including dozens of advanced charting features, automated trading services and built-in support. Aimed at active forex traders, these easy-to-use desktop and mobile trading platforms will meet the needs of most users. They offer a more comprehensive and downloadable alternative to Moneta Markets’ proprietary web-based solution.
Moneta Markets offers over 45 currency pairs as well as 6 of the most popular cryptocurrencies, including Bitcoin and Dash. There are also 15 widely traded commodities, 15 global indices, plus over 185 Australian, UK, US, European, and Hong Kong share CFDs on offer.
Spreads & Commission
The broker offers the most competitive fees on its ECN account. Spreads from 0.0 pips are available alongside a $3 commission per lot per side. This is competitive and will likely appeal to active traders, in particular.
The broker is less transparent when it comes to spreads and fees on its STP account. We hope this is because Moneta Markets is still relatively new, but nonetheless, this is one of the first areas traders will want to know about.
The maximum leverage available at Moneta Markets is 1:500 on forex, with lower limits on other markets:
- Forex – up to 1:500
- Energy – up to 1:100
- Indices – up to 1:200
- Share CFDs – up to 1:20
- Precious metals – up to 1:500
- Soft commodities – up to 1:50
Moneta Markets AppTrader
The broker’s mobile app is a powerful tool that facilitates convenient trading anywhere, at any time. The app offers all the same features as the web platform, including the built-in Client Portal, 45 technical indicators and 6 chart types. It also comes in 10 different languages and is tailored to new and experienced traders alike.
The app is compatible with both iOS and Android devices; simply open an account and head to your App store to begin trading.
Deposit methods vary depending on the jurisdiction but 8 different currencies are supported including the USD, EUR, and GBP. All methods are commission-free on the broker’s side and processing times are generally quick. Note that first-time deposits via bank card are restricted to $1,000 AUD.
- International wire transfer – 2 – 5 business days
- Credit/debit card (Visa & Mastercard) – Instant
- Bitcoin – 1 business day
- FasaPay – Instant
- Sticpay – Instant
- JCB – Instant
Withdrawal requests can only be processed via bank wire, which is rather limiting and hopefully something that will improve in the future. Withdrawals are processed within 1 – 3 business days once you have completed the request form within the Client Portal. We haven’t come across any withdrawal issues in customer reviews.
A demo account can be opened quickly and easily via the ‘Demo’ button in the top right-hand corner of the website. New users can opt for a practice account to familiarise themselves with the WebTrader or AppTrader and to practice their trading skills before opening a live account. Demo accounts expire after 30 days.
Bonuses & Promos
Moneta Markets offers a 50% deposit bonus for trading accounts funded with $500 or more. This bonus is available to both new and existing users by completing the opt-in form on the website. The offer can also be redeemed more than once.
Traders should check the website and social media pages for any further deposit promos or deals.
Moneta Markets Regulation
Moneta Markets is a subsidiary of Vantage International Group Limited and is regulated by the Cayman Islands Monetary Authority (CIMA), with Securities Investment Business Law (SIBL) number 1383491.
CIMA is an offshore regulator which may not provide the same level of investor protection as other bodies. With that said, the broker holds client funds at segregated accounts with the reputable National Australia Bank and also has professional indemnity insurance.
Other companies within the Vantage Group hold licenses with the Australian Securities and Investments Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK.
Overall, clients should feel reasonably safe trading with this broker.
Moneta Markets offers a few additional tools and features, including an economic calendar, forex calculators, plus a small selection of video tutorials. Traders who fund their accounts with $500 or more can access a larger selection of advanced tutorials with the Market Masters video course.
The broker also offers Duplitrade, a copy-trading service that requires a minimum account deposit of $2,000. Alternatively, traders who fund their account with a minimum of $500 gain exclusive access to the Trading Tools within the client portal, which includes macro-economic news, live signals and market analysis.
Moneta Markets Accounts
Moneta Markets offers live STP and ECN trading accounts. The accounts are free to open and there are no maintenance fees. The minimum deposit is $200. The ECN account offers zero-pip spreads with a $3 commission and is available on both the MT4 and MT5 platforms.
Opening an account is fast and easy. You simply need to complete the online application and provide identity documentation. Account details and login credentials will then be sent via email.
For money managers, the broker has also introduced a transparent PAMM solution which offers an unlimited number of managed accounts. Designed with scalability in mind, it’s an excellent option for money managers looking to grow their business.
Islamic-friendly accounts are also available via the swap-free form on the website.
Advantages of trading with Moneta Markets include:
- Beginner-friendly all-in-one trading platform
- Good range of education and tools
- Funds segregated at NAB
- No download required
- 50% deposit bonus
- ECN account
Limitations of Moneta Markets include:
- Offshore regulation
- Only bank transfer withdrawals
- Limited details on spreads and commissions
Trading hours for most FX pairs are 00:01 – 23:58 GMT+2 or GMT+3 during daylight savings time and cryptocurrencies are 00:00 – 24:00 GMT+2/3. Gold and silver markets are 01:00 – 23:59 GMT+2/3. Opening times for other assets vary and detailed times can be found on the broker’s website.
Multilingual support is provided 24 hours a day, 5 days a week via:
- Telephone contact number – +44 113 320 4819 (UK) or +61 2 8330 1233 (International)
- Live chat – located in the bottom right-hand corner
- Email – firstname.lastname@example.org
Unfortunately, limited information about the security measures employed on the platform is available. This should certainly be addressed as other more trusted trading platforms like MetaTrader come with standard SSL encryption and dual-factor authentication at the login stage.
Moneta Markets Verdict
Moneta Markets offers high leverage, decent trading tools, and an easy-to-use web platform. The introduction of MT4 and MT5 also means experienced traders have the advanced tools they need to start investing. With that said, the limited withdrawal options and the lack of information around fees needs to be addressed.
Moneta Markets accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders can not use Moneta Markets from Afghanistan, Australia, Belarus, Belgium, Malaysia, Burundi, Canada, Central African Republic, Congo DR, Egypt, Eritrea, France, Iran, Iraq, Lebanon, Japan, Libya, Mali, Korea, Guinea-Bissau, Russian Federation, Somalia, Sudan, Syria, Tunisia, Ukraine, United States, Venezuela, Yemen, Zimbabwe.
Alternatives to Moneta Markets
If you are looking for alternatives to Moneta Markets we have compiled a list of the top 5 brokers that are similar to Moneta Markets below. This list of brokers like Moneta Markets is in order of similarity and only includes companies that accept traders from your location.
- EagleFX – EagleFX is a popular trading broker offering forex, stocks, cryptos & commodities.
- LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
- Forex.com – Forex.com boast a global reputation. Regulated in the UK, US and Canada they offer a huge range of markets, not just forex, and offer very tight spreads and a cutting edge platform.
- ZuluTrade – Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
- eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Is Moneta Markets safe?
Moneta Markets is licensed by the Cayman Islands Monetary Authority (CIMA) and holds client funds at the National Australia Bank, a reputable banking institution.
What payment methods are available at Moneta Markets?
You can fund your account via bank transfer, cards, Sticpay, JCB, Fasapay, or Bitcoin. Other methods may be available in different jurisdictions. You can only withdraw via bank transfer.
What can I trade at Moneta Markets?
You can trade over 250 instruments, including forex, cryptocurrencies, shares, indices and commodities.
What is the maximum deposit amount at Moneta Markets?
There is a daily cap of $10,000 AUD or equivalent per account at Moneta Markets.
Can I open multiple trading accounts at Moneta Markets?
Yes, you can open an additional account from within the WebTrader platform by clicking on ‘Manage Accounts’.
|Moneta Markets is a regulated FX & CFD broker offering a proprietary web platform.|
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