Licensed in two jurisdictions, Moneta Markets offers trading in Forex, indices, commodities, shares, and cryptocurrencies. The company provides its services via three subsidiaries: Moneta Pty Ltd (Australia), Moneta Markets South Africa (Pty) Ltd and Moneta LLC (Saint Vincent and the Grenadines).
Founded in 2020, Moneta Markets is considered safe because it is authorised by top-tier regulator. The broker is licensed by the Australian Securities and Investments Commissions (ASIC), South Africa Financial Sector Conduct Authority (FSCA). Regulated brokers adhere to regulations and prioritize their clients’ fund security.
Moneta Markets Review Summary
Traders can choose between four trading platforms – Metatrader 5, Metatrader 4, WebTrader and ProTrader. Mobile trading version is available for each of these platforms. For the available instruments, Moneta Markets has many commodities, shares and indices to choose from, while the number of available currency pairs is low. The broker comes with the following features:
- Moneta Markets was originally an offshore brand of Australia based online broker VantageFX (since rebranded as Vantage) in 2020.
- Moneta Markets is not publicly traded, does not operate a bank and it is licensed by top-category financial regulators.
- Since its foundation, the broker offers a high level of transparency, and all the important information about the types of accounts, commissions, fees, entities, and legal docs can be found on its website.
- The Moneta Markets WebTrader was developed by PandaTS and incorporates the smooth HTML5 that is now the industry standard for web-based trading software.
- Daily market news and analysis are available via YouTube channel under the Moneta TV series.
- Although Moneta Markets allows a minimum deposit of just $50, traders should note that the broker offers limited educational and research support.
Moneta Markets is Known For:
Multiple choice of trading platforms across different devices. Algorithmic traders will find low spreads on the ECN account very attractive.
What Are the Pros and Cons of Moneta Markets?
- Moneta Markets has subsidiaries that are regulated by ASIC (Australia) and FSCA (South Africa).
- The broker offers competitive spreads and commissions on its ECN Account option.
- Both MT4 and MT5 are available in mobile and desktop versions. A custom-built WebTrader and AppTrader is also available.
- Multiple withdrawal options and fast withdrawal time. The number of base currencies used for deposit and withdrawal is also high.
- The broker offers 2 categories of accounts and an Islamic Account option for each of them.
- Customer support is available via online chat, email, and phone.
- Moneta Markets provides a handful of educational videos and articles but lacks a live webinar facility.
- The mobile app does not provide all the options offered by the desktop version, but it is sufficient enough to satisfy the needs of traders who must make their decisions on the go e.g the AppTrader is devoid of indicator and drawing facilities that are seen on the WebTrader.
- In-house research facility is extremely limited.
- The number of available Forex pairs is below average compared to industry standards.
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Moneta Markets Performance
Moneta Markets clients can choose from the Direct STP (for beginners) and Prime ECN accounts (for scalpers and EAs). Each of these accounts can be converted into a swap-free account and support hedging. Moneta Markets offers multi-lingual support system with fast and direct response to query.
The broker’s research support are sourced mainly from third-party tools like Trading Central and FXWirePro. Moneta Markets provides access to several third-party research tools from Trading Central. Trading Central (available with minimum deposit of $500) brings curated, high-quality professional financial news and disruptive analytics to their investors, helping them form educated trade decisions amidst today’s volatile markets.
Moneta Markets offers education contents in the form of trading videos and trading guides via their Master Course facility.The Moneta Master Course has a collection of short and long videos on various article. It should be noted that the educational offering does not include live webinar sessions.
Moneta Markets provides access to 45 forex pairs, 17 commodities CFDs, 150+ shares CFDs, 15 index CFDs, and 6 cryptocurrencies CFDs.
Leverages: Leverages depends on the Moneta entity you opened your account and the asset type you trade. Maximum leverage advertised at Moneta Market is 1:1000.
Note: Trading with leverage as high as 1:500 is recommended only for those who have some experience in the forex market.
Platforms and Tools
Moneta Markets offers both MT4 and MT5 platforms and a WebTrader platform. Moneta Markets also offers a ProTrader platform that integrates with TradingView charting system. The WebTrader is an easy-to-use platform that offers a wide range of indicators and timeframes for technical analysis.
The Moneta Markets WebTrader was developed by PandaTS and incorporates the smooth HTML5 that is now the industry standard for web-based trading software. WebTrader charts are easy to configure even for inexperienced traders after some practice work, and they surely have a handful of options for advanced traders who could also find additional tools if needed.
Note: Practice account is available to potential clients with the opportunity to try their platform risk-free.
Traders can choose between the mobile versions of Metatrader platforms from MetaQuote’s Corporations and the Moneta Markets AppTrader from Panda-TS. Both are available in iOS and Android versions. The AppTrader is rather easy to use. It provides charts, order quotes, basic account info, economic calendar, news, and other tools to provide traders with an opportunity to make informed trading decisions.
The mobile app does not provide all the options offered by the desktop version, but it is sufficient enough to satisfy the needs of traders who must make their decisions on the go e.g the AppTrader is devoid of indicator and drawing facilities that are seen on the WebTrader.
Note: While the app is helpful in certain circumstances, it cannot beat the speed of work that could be achieved using the desktop platform, which is the primary solution for active trading.
Spreads and Commissions
Moneta markets clients will choose from 2 types of accounts. The Direct STP account is a commission-free, spread-based account with a low minimum deposit of $50. Traders willing to deposit up to $200 can choose the Prime ECN account, which offers tight spreads (from 0.0 Pips) but has a commission of $3.00 per lot per side.
Note: Trading with low spreads is a good way to boost your profits.
Deposit and Withdrawal Method
Moneta Markets clients can deposit and withdraw money from their accounts via VISA Credit/Debit cards, Mastercard, FasaPay, bank wire, JCB, and SticPay. Base currencies include USD, GBP, EUR, SGD, JPY, NZD, CAD.
Note: When using cryptocurrency for payments, extra caution is needed as it provides anonymity and is irreversible.
Strength and Transparency – 78%
Founded in 2020, Moneta Markets is not publicly traded, does not operate a bank and it is licensed by top-category financial regulators. Transparency on regulations and fees on the company’s website. Moneta Markets and its subsidiaries holds the following licenses.
- Moneta Markets South Africa (Pty) Ltd, is an authorised Financial Service Provider (“FSP”) registered and regulated by the Financial Sector Conduct Authority (“FSCA”) of South Africa.
- Moneta Pty Ltd (Australia), is authorised and regulated by the Australian Securities and Investments Commission (ASIC).
- Moneta LLC, is registered under Saint Vincent and the Grenadines Financial Services Authority (SVGFSA).
- MMonexia LTD, is registered in Cyprus.
Since its foundation, the broker offers a high level of transparency, and all the important information about the types of accounts, commissions, fees, entities, and legal docs can be found on its website.
Note: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not an indication of future results.
Verdict: Moneta Markets is an Excellent Broker
So, after the detailed broker analysis, we concluded that Moneta Markets offers well-balanced and very transparent services. Casual traders will find the user-friendly Web platforms very useful. Algorithmic and professional traders will benefit from the tight spreads and affordable commissions offered by the Prime ECN Account.
2023 Expert Analysis
Here at the Forex Broker Expert, we have reviews of more than 200 Forex brokers and trading software. The number one item we check when reviewing a broker to see if they are a scam is a safety score. We use a Safety score algorithms to asses risk level. They major criteria we use in grouping a Forex broker in to risk levels include total years in business, which regulatory licenses each firm holds, is the broker publicly traded in any stock exchange as well as our manual in house check.
Different Forex brokers offer different account types which goes by different names like standard, classic, premium, VIP or gold. The most popular minimum deposit for a Forex basic account is $250. Leverages can go as high as 1:200. As for the pips charged on these accounts, EURUSD is usually the pair with the lowest spread and the ideal thing is that each type of account is unique and will either have fixed or floating pips depending on which account portfolio you have chosen. Learn more about the industry best prectices here.
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