Moneta Markets Review 2024

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Written By
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Written By
Christian Harris
Christian is a seasoned journalist with decades of experience. He transitioned from tech journalism to finance to follow his interest in investing. He has been trading stocks, futures, forex, and cryptocurrencies for more than 5 years, becoming an eToro Popular Investor. With hands-on expertise across various assets, he offers valuable trading insights.
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James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
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Jemma Grist
Jemma is a writer, editor and fact-checker focused on retail trading and investing. Jemma brings a unique perspective to the forex, stock, and cryptocurrency markets and works across several investment websites as a researcher and broker analyst.
Updated

4.4 / 5
Moneta Markets is #42 in our CFD broker rankings.

With ECN pricing featuring spreads from 0 and commissions from $1, high leverage of up to 1:1000, and the terrific ProTrader charting platform, Moneta Markets is an excellent broker for experienced day traders.

- Christian Harris, Reviewer

Founded in 2019 and headquartered in Johannesburg, South Africa, Moneta Markets offers over 1000 instruments for short-term trading. New traders can choose between STP and ECN accounts while the smooth sign-up process has helped attract 70,000 registered traders.

$50
AppTrader, ProTrader, MT4, MT5, TradingCentral
CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto
50% Cashback Bonus, Free VPS
USD, EUR, GBP, CAD, NZD, JPY, HKD, SGD, BRL
Visa, Bitcoin Payments, Mastercard, Wire Transfer, FasaPay, Sticpay, JCB Card, Credit Card

Trading App

Moneta Markets supports the MT4 and MT5 applications but has stepped up its game by introducing a proprietary AppTrader. Powered by TradingView, it has a strong focus on technical analysis. It also sports a more intuitive interface and comprehensive functionality, including full-screen chart viewing and an integrated news stream. The added advantage is straightforward account management, allowing you to deposit, withdraw and access 24/7 chat support directly in the app.

iOS App Rating
Android App Rating

Forex Trading

Moneta Markets provides an extensive selection of over 45 forex pairs, featuring leverage ratios that surpass those offered by the vast majority of brokers, reaching up to 1:1000. The HokoCloud VPS can also enhance automated forex trading strategies and is free if you deposit $500 and trade 5 forex lots per month.

Stock Trading

Stock CFDs can be traded on over 800 leading global corporations from prominent exchanges in Europe, the UK, the US, Australia and Hong Kong. These companies represent diverse sectors such as fuel, technology, and banking, providing ample trading opportunities. The minimum trading volume is set at 1 full lot, but there’s no option to invest in real stocks.

CFD Trading

CFD traders have the opportunity to speculate on short-term movements across a wide range of assets, including forex, stocks, indices, commodities, bonds, and ETFs. Where Moneta Markets stands out is its high leverage up to 1:1000 for seasoned day traders, though this seriously amplifies the risk of large losses for inexperienced investors.

Crypto Trading

Moneta Markets supports trading on popular cryptos against the USD with 1:5 leverage. Moneta Markets also enhanced its crypto offering in 2024 with 6 ETFs that provide exposure to digital currencies. However, tokens can be traded as CFDs only - they cannot be directly bought and sold. Also, average spreads on Bitcoin trail the cheapest crypto brokers.

Copy Trading

Moneta Markets is one of few brokers that offers its own social trading service, allowing clients to engage in copy trading through its user-friendly CopyTrader app. This easy-to-use solution lets beginner traders select and follow seasoned traders, accessing real-time performance statistics. Moneta Markets also offers ZuluTrade, a respected social and copy trading platform.

Awards

  • 10 Best Companies To Watch 2021
  • Best Forex Broker For Beginners 2021
  • Best Forex Broker For Professionals 2021
  • Most Advanced CFD Trading Platform 2020

✓ Pros

  • Moneta Markets supports a growing suite of 1000+ tradable assets, with a particularly strong selection of commodities and more recently fresh index CFDs.
  • Registering for an account with Moneta Markets is quick and easy through the digital sign-up process, taking just a few minutes with an accessible $50 minimum deposit.
  • The broker offers competitive leverage rates of up to 1:1000, allowing experienced day traders to amplify their positions and potentially increase their returns.
  • The intuitive ProTrader web platform, powered by TradingView, performed brilliantly during testing, enabling trading directly from charts, plus the easy modification of orders using drag-and-drop functionality.
  • Moneta Markets makes account funding a breeze, with plenty of account currencies, zero transfer fees and a wide selection of traditional, digital and now crypto-backed payment methods.

✗ Cons

  • Although regulated by the ASIC, trading through the Seychelles-based entity may result in limited regulatory protections while Moneta Markets’ short track also means it hasn’t earned the reputation of the safest brokers.
  • Whilst TradingView-backed ProTrader is intuitive, there are limitations compared to the full TradingView platform, notably time frames lack seconds or ranges, and community scripts can’t be added.
  • Clients need an account balance of at least $500 to access educational materials, a serious drawback for beginners who can get free materials from brokers like IG and eToro.
  • While trading costs are generally competitive, index CFDs feature fairly high spreads especially on US products like the S&P 500, trailing IC Markets during testing.
  • The best pricing is reserved for traders who deposit $20,000 for the ECN Ultra account, putting it out of reach for most retail investors.

This Moneta Markets review provides an in-depth exploration of the day trading journey, informed by firsthand testing and comparisons with alternatives drawn from our database of 500 brokers.

Regulation & Trust

3.5 / 5

Moneta Markets operates under three distinct entities, each subject to varying regulatory oversight. Depending on your country of residence, you will trade with the corresponding subsidiary.

While less stringent regulation allows traders to access higher leverage and deposit bonuses, it comes with the trade-off of reduced client fund protection schemes and less robust regulatory oversight.

However, Moneta Markets takes measures to ensure maximum security for client funds. Traders’ capital is held in segregated accounts with NAB (National Australian Bank) and negative balance protection is guaranteed to prevent losses resulting from trade abuse.

Comparison of similar brokers 2024
Moneta Markets IC Markets FP Markets
Regulation & Trust Rating
Regulators ASIC, FSCA, FSA ASIC, CySEC, FSA ASIC, CySEC, FSA
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Accounts & Banking

3.5 / 5

Live Accounts

Moneta Markets offers STP and ECN accounts:

Moneta Markets account configuration

There is also a swap-free account, specifically tailored for clients whose religious beliefs prohibit interest payments. Instead of accruing overnight interest charges, traders with this account incur a daily administration fee based on their account balance.

Moneta Markets has also introduced a solution known as PAMM (Percentage Allocation Management Module), which caters to money managers, allowing for an unlimited number of managed accounts.

One aspect that stands out during my hands-on experience with Moneta Markets is the swift and entirely digital account opening process.

Living up to its commitment to rapid sign-up, I found that the account opening took less than 5 minutes, streamlining the setup phase.

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Christian Harris
Author

Demo Accounts

Moneta Markets offers a risk-free demo account compatible with both the MetaTrader 4 and Pro Trader platforms.

However, it’s only available for 30 days – not long enough to thoroughly test strategies before risking real capital. As a comparison, alternatives Vantage and AvaTrade offer unlimited demo accounts.

Moneta Markets Demo Account Configuration

Deposits & Withdrawals

Moneta Markets provides an excellent range of options for deposits, including wire transfers, credit and debit cards, FasaPay, JCB, and SticPay, all at no cost. There’s even an option to deposit with crypto.

It also offers the convenience of being able to transact in 9 base currencies – USD, EUR, GBP, JPY, SGD, CAD, HKD, NZD, and BRL – with wire transfers clearing within 2-5 business days, while other methods offer instant deposits.

When it comes to withdrawals, international wire transfers incur a minimum fee of $20. Processing times typically take up to one business day for most methods, although wire transfers experience slightly longer wait times.

Trading Promotions

Depositing between $500 and $1,000 into your Moneta Markets trading account entitles you to a 50% deposit bonus. Deposits exceeding $1,000 qualify for an additional 10% bonus, capped at a total bonus credit of $20,000.

However, I quickly learned that bonus credits can’t be withdrawn, and any profits earned will be reflected in your account balance, while losses will first be deducted from your real deposited funds, followed by the trading credit.

Additionally, a free VPS is available for traders who deposit $500 and trade 5 forex lots per month. This is a great perk if you want to run Expert Advisors (EAs) 24/7 with faster execution speeds and no downtime.

Comparison of similar brokers 2024
Moneta Markets IC Markets FP Markets
Accounts & Banking Rating
Payment Methods Bitcoin Payments, Credit Card, FasaPay, JCB Card, Mastercard, Sticpay, Visa, Wire Transfer BPAY, Credit Card, Klarna, Mastercard, Neteller, PayPal, POLi, Rapid Transfer, SafeCharge, Skrill, Swift, UnionPay, Visa, Wire Transfer Apple Pay, Bitcoin Payments, Credit Card, Debit Card, Dragonpay, FasaPay, Google Wallet, Mastercard, Neteller, Perfect Money, Rapid Transfer, Skrill, Sticpay, Visa, Wire Transfer
Minimum Deposit $50 $200 $40
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Assets & Markets

3.5 / 5

Moneta Markets offers fairly extensive market coverage of over 1,000 instruments. Their selection of stocks, forex, and commodities is particularly robust.

On a more critical note, Moneta Markets lacks passive income options such as earning interest on unused account balances, a feature available with competitors like eToro, offering up to 5.3% on cash balances.

Leverage

Retail clients are offered leverage rates of up to 1:1000. While the highest leverage is available on most major forex pairs and several notable minor swaps, some minor and exotic pairs are capped at levels as low as 1:10. For indices CFDs futures, leverage of 1:500 is supported, while cash indices are limited to 1:33.

European and UK stock CFDs are leveraged up to 1:20, while US companies can be traded with leverage of 1:33. In the case of commodities, leverage rates are capped at 1:500 for gold, 1:100 for silver, and 1:30 for copper.

Soft commodities, on the other hand, can be traded with leverage of 1:50, while energies are limited to 1:33.

Comparison of similar brokers 2024
Moneta Markets IC Markets FP Markets
Assets & Markets Rating
Trading Instruments CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto
Margin Trading Yes Yes Yes
Leverage 1:1000 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:30 (UK), 1:500 (Global)
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Fees & Costs

3.8 / 5

Moneta Markets offers competitive fees across their trading accounts, with costs varying depending on the account type and instrument. One notable aspect is the absence of account, inactivity, or deposit fees, which is a refreshing change from many platforms.

For ECN accounts, Moneta Markets provides the most competitive fees, with spreads starting from 0.0 pips and a low round-turn fee per lot on most assets.

During testing, I observed that the EUR/USD currency pair could be traded from 0.0 pips with a $3 commission per lot, per trade. While slightly more expensive than Fusion Markets’ $2.25 commission per lot per trade with a zero spread, the competitive fees offered by Moneta Markets are still appealing.

Traders opting for the STP account may encounter higher spreads. For example, the EUR/USD currency pair typically has an average spread of 1.56 pips. However, since there are no commission fees associated with this account, the overall cost structure differs, making it a viable option for certain trading strategies.

Trading US stock CFDs incurs no charges, and there are no minimum commissions on UK and EU stocks, which are set at 0.1% of the nominal value on all trades. This affordability makes it an attractive option for stock trading.

On the downside, spreads on indices are less favorable, with a typical spread of 3.0 for the S&P 500, considerably higher than the typical spread of 0.2 at IC Markets.

Comparison of similar brokers 2024
Moneta Markets IC Markets FP Markets
Fees & Costs Rating
EUR/USD Spread 0.26 0.02 0.1
FTSE Spread 13.33 1.0 1.64
Oil Spread 2.90 0.03 0.04
Stock Spread 0.3 0.02 Variable
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Platforms & Tools

4.3 / 5

Moneta Markets offers a few platform choices – their proprietary ProTrader and MT4/5. The broker caters to the diverse needs of day traders by providing support for web trading, mobile apps, and standalone programs.

ProTrader

Moneta Markets’ ProTrader, a web-based system powered by TradingView, offers access to over 300 CFD products.

While it provides comprehensive charting tools and indicators, including advanced order functionalities like preset stop loss and take profit levels, I’ve noticed some limitations compared to the full TradingView version. For instance, time frames lack seconds or ranges, and community scripts (indicators) cannot be added.

Despite these drawbacks, the platform’s user-friendly interface integrates account management tools seamlessly, allowing me to monitor profit and loss, deposit funds, and execute trades with ease.

ProTrader charting platform at Moneta Markets
ProTrader

MetaTrader

The MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms are a familiar choice for experienced traders, renowned for their reliability and extensive features.

With ultrafast execution speeds as quick as 1 ms, MetaTrader helps ensure short-term traders don’t miss trading opportunities.

Integration of user-designed indicators and expert advisors (EAs) through the extensive MQL4 marketplace further enhances its appeal. Available for download on Windows, Mac, and Linux, MetaTrader offers accessibility and functionality across multiple devices.

Screengrab of MetaTrader 4 webtrader platform on Moneta Markets
MetaTrader 4

CopyTrader

For beginner traders, Moneta Markets offers social trading through the CopyTrader app, providing access to hundreds of strategy providers whose trades can be automatically replicated.

With a minimum account balance requirement of $100 or equivalent, traders can copy signal providers or become signal providers themselves.

Additionally, access to ZuluTrade, a popular third-party social and copy trading platform, further enhances the social trading experience offered by Moneta Markets.

Comparison of similar brokers 2024
Moneta Markets IC Markets FP Markets
Platforms & Tools Rating
Platforms AppTrader, ProTrader, MT4, MT5, TradingCentral MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade Iress, MT4, MT5, cTrader, TradingView, AutoChartist, TradingCentral
Mobile App iOS & Android iOS & Android iOS & Android
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Research

4 / 5

Third-party research content is accessible on the Moneta Markets’ platform, complemented by daily in-house articles, trade ideas, and video content from the Moneta TV series.

Moneta Markets users have access to a wide range of third-party research tools, including Trading Central. Available exclusively to live account holders, it offers third-party research aimed at identifying trading opportunities by continuously monitoring financial markets.

It provides real-time alerts for both opportunities and risks and can be accessed conveniently through the client portal or supported trading platforms including MetaTrader.

Forex technical analysis on Moneta Markets platform

My favorite features are the Market Sentiment, which enables me to gauge other traders’ sentiments by showing me the percentage of traders going long or short, as well as the Economic Calendar which updates me with news and events impacting the global markets.

There’s also a Market Buzz tool that can help pinpoint what drives the global market through real-time news coverage and media content.

This comprehensive data can assist in identifying entry and exit points, formulating trade scenarios, and validating strategies using indicators.

Comparison of similar brokers 2024
Moneta Markets IC Markets FP Markets
Research Rating
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Education

3.3 / 5

Clients with an account balance surpassing $500 are rewarded with complimentary access to the Markets Masters course, a comprehensive resource comprising over 100 trading tutorials.

Delving into the course content, I’ve found it to be well-presented and easy to grasp, covering essential topics such as trading fundamentals, technical analysis, and various trading techniques.

The video-based format makes learning convenient and engaging, providing beginner traders with a solid foundation to elevate their trading knowledge and skills.

Charting education at Moneta Markets broker

Comparison of similar brokers 2024
Moneta Markets IC Markets FP Markets
Education Rating
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Customer Support

4 / 5

Top-tier brokers cater to diverse client needs by offering various support options. Moneta Markets exemplifies this by providing multiple channels for queries and complaints.

Their support team is available round-the-clock during the 24/5 forex and CFD markets’ operating hours, reachable via email, phone, as well as a live chat feature.

Comparison of similar brokers 2024
Moneta Markets IC Markets FP Markets
Customer Support Rating
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Review Review Review Review

Should You Trade With Moneta Markets?

Moneta Markets offers extensive forex and CFD trading opportunities globally, with benefits including a 50% deposit bonus and high leverage for all clients.

It offers competitive fees, particularly with its ECN account and it is well-suited for intraday trading. Additionally, traders can access two copy trading platforms for potentially lucrative passive income.

FAQ

Is Moneta Markets Legit Or A Scam?

With over 70,000+ active clients and monthly trade volumes of over $100 billion, Moneta Markets is not considered a scam and can be considered a legitimate online broker. Its entities ensure the segregation of client funds and offer negative balance protection.

Is Moneta Markets A Regulated Broker?

Moneta Markets operates under various regulatory authorities depending on the jurisdiction, ensuring compliance with financial regulations. These include the ASIC in Australia, the FSCA in South Africa and the FSA in Seychelles.

Is Moneta Markets Suitable For Beginners?

Moneta Markets is suitable for beginners due to its choice of trading platforms, demo accounts for practice and a range of educational materials to help beginners learn the basics of trading.

Additionally, their excellent customer support team is available to assist with any questions or concerns.

Is Moneta Markets A Good Broker For Day Trading?

Moneta Markets is a suitable broker for day trading due to its terrific charting platforms, ECN pricing, and access to leveraged derivatives.

The trading platforms offer good reliability and excellent execution speeds, but there’s no support for trading using the popular TradingView and cTrader platforms.

Top 3 Alternatives to Moneta Markets

Compare Moneta Markets with the top 3 similar brokers that accept traders from your location.

  1. IC Markets – IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
    Go to IC Markets
  2. FP Markets – Established in 2005 in Australia, FP Markets is an ASIC- and CySEC-regulated broker boasting an extensive suite of tradable assets. Its Standard and Raw accounts cater to day traders at every level, while it packs a punch in the tooling department, from the MetaTrader suite and intuitive TradingView to actionable trading ideas from Trading Central and AutoChartist.
    Go to FP Markets
  3. Vantage – Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
    Go to Vantage

Moneta Markets Comparison Table

Compare Moneta Markets With Similar Brokers
Moneta Markets IC Markets FP Markets Vantage
Rating 4.4 4.8 4 4.7
Markets CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto CFDs, Forex, Stocks, Indices, Commodities, Bonds, ETFs, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds
Demo Account Yes Yes Yes Yes
Minimum Deposit $50 $200 $40 $50
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators ASIC, FSCA, FSA ASIC, CySEC, FSA ASIC, CySEC, FSA FCA, ASIC, FSCA, VFSC
Bonus 50% Cashback Bonus, Free VPS 50% Welcome Deposit Bonus, earn redeemable rewards in the Vantage Rewards scheme
Education Yes Yes Yes Yes
Platforms AppTrader, ProTrader, MT4, MT5, TradingCentral MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade Iress, MT4, MT5, cTrader, TradingView, AutoChartist, TradingCentral ProTrader, MT4, MT5, TradingView, DupliTrade
Leverage 1:1000 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global) 1:30 (UK), 1:500 (Global) 1:500
Payment Methods 8 14 15 12
Visit Visit Visit Visit Visit
Review IC Markets
Review
FP Markets
Review
Vantage
Review

Compare Trading Instruments

Compare the markets and instruments offered by Moneta Markets and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Moneta Markets Trading Instruments
Moneta Markets IC Markets FP Markets Vantage
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper Yes No Yes Yes
Silver Yes Yes Yes Yes
Corn No Yes Yes No
Crypto Yes Yes Yes Yes
Futures Yes Yes No No
Options No No No No
ETFs Yes Yes Yes Yes
Bonds Yes Yes Yes Yes
Warrants No No No No
Spreadbetting No No No Yes
Volatility Index Yes Yes Yes Yes

Moneta Markets vs Other Brokers

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Founded in 2019 and headquartered in Johannesburg, South Africa, Moneta Markets offers over 1000 instruments for short-term trading. New traders can choose between STP and ECN accounts while the smooth sign-up process has helped attract 70,000 registered traders.

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