Multi-regulated broker, Moneta Markets, has launched an ‘Ultra ECN’ account with competitive trading conditions. The new solution is available on the firm’s MetaTrader 4, MetaTrader 5, and PRO Trader platforms.
The Ultra ECN account offers spreads from 0.0 pips on forex and gold, plus commissions of $2 per round turn, notably lower than the $6-$7 average for ECN accounts.
Moneta Markets’ gold assets also come with zero swap fees on the Ultra ECN, Prime ECN, and Direct STP accounts. Alongside the tight spreads and low commissions, this makes the brand one of the lowest-cost brokers for gold trading.
Available To All Traders
The brokerage introduced the new account to meet the needs of professional traders. However, the Ultra ECN profile is available to any user that deposits $50,000, meaning all clients can trade with ECN conditions whilst keeping fees down.
Founder of Moneta Markets, David Bily, commented on the news: “Since our inception, we have continued to build upon the feedback and requirements of our growing client base.”
Bily added: “While it has been quite a learning curve, we always strive to meet and exceed expectations when it comes to delivering results that put us in a position where we are able to take on the older incumbent brokers and attract a significant market share.”
How ECN Accounts Work
Electronic Communication Network (ECN) brokers allow traders to make competing bids against each other. Instead of passing orders to market makers who take the other side of a trade, ECN brokers connect buyers directly with sellers.
Importantly, the technology underpinning ECN trading facilitates rapid order executions with low fees and high leverage. This is partly why ECN brokers are among the fastest-growing trading brokerages.
About Moneta Markets
Moneta Markets is a popular global broker, established in 2019. Over 70,000 accounts have been opened with the firm which has a monthly trading volume of more than $100 billion spanning 1.5 million trades. The online brokerage is regulated by the ASIC, SVGFSA and FSCA.
Clients can trade on over 1000 instruments, from stocks and shares to commodities, forex and cryptocurrencies. The broker also offers leveraged trading up to 1:1000 depending on the instrument and account.
Moneta Markets accepts a range of payment methods, including credit cards, electronic wallets, bank transfers, and cryptos. The minimum deposit is $50 and there are no transfer fees.
Sign up for the Moneta Markets Ultra ECN account for tight spreads and low commissions.