Moneta Markets Review
Updated November 24, 2022
Moneta Markets is a broker funded by Vantage International Group Limited, a parent company that has been operational since 2009. It holds multiple regulatory licenses including that of the Cayman Islands Monetary Authority (CIMA) and a host of others from reputable regulatory bodies in the industry.
The relatively new Moneta Market was registered in 2018 and regulated by CIMA while it enjoys the full backing of its parent company.
For security and transparency purposes, the broker doesn’t hold client funds in a personal account but rather, at segregated accounts with the National Australia Bank. Client funds are also insured via the professional indemnity insurance policy, reassuring traders of the security of their funds.
Moneta Markets Malaysia – Overview
|Regulation||Australia, UK, Vanuatu|
|Maximum Leverage||Up to 500:1 leverage|
|Type of platform||MetaTrader 4, MetaTrader 5, Web-based, AppTrader|
|Deposit with credit card||Yes|
|Depositing with wire transfer||Yes|
|Demo account provided||Yes|
|Instruments traded||300+ Tradable Instruments (Forex, CFD, Crypto)|
Some of the benefits of trading instruments on Moneta Markets are:
- Moneta Markets offer non-trading and low forex fees.
- Account opening is stress-free and super fast.
- A wide range of deposit and withdrawal options are available.
- No inactivity or deposit fees.
- Streamlined funding and onboarding processes.
- Excellent helpful research support.
- 50% deposit bonus.
- No download is required.
The following are some of the broker’s weaknesses you should look out for:
- High CFD fees.
- A limited product selection.
- US traders are not accepted.
Moneta Markets Key Features
The broker is packed with features that make it a great trading platform. A client will enjoy some of the broker’s attractive features such as:
- Multiple trading platforms such as the popular MetaTrader suits 4 and 5, and WebTrader. These platforms have distinct features to make trading fun, stress-free, and rewarding.
- Wide range of trading instruments that include but not limited to indices, cryptocurrencies, and commodities.
- Extensive educational materials such as in-house articles, video content, and other resources will arm traders with the knowledge they need to excel in the Forex trading industry.
- A superb customer support team with various contact channels such as email, telephone, and live chat.
One of the numerous benefits of trading on Moneta Markets is the number of available trading platforms that are designed to satisfy their growing clients’ needs. Here are the notable trading platforms supported by the broker:
The MetaTrader 4 platform is designed to meet the needs of all types and levels of traders. It allows them to access over 300 global markets and put their trading skills to use.
The award-winning platform is the leading Forex trading platform that offers thousands of EAs and indicators to choose from while enjoying its robust performance.
On the platform, traders can customize their charts and have access to over 40 built-in indicators that support all the trading styles and strategies: short, medium, or long-term.
That’s besides its ultra-fast execution speed that allows you to explore an array of trading instruments. You are well positioned to leverage their rapid price movements for more profitable trading, either when trading automatically or manually.
The platform can be integrated with the WebTrader platform, offering you an opportunity to choose either of the platforms to trade whenever you desire.
Trading on the MT4 platform is super easy. Open a live account by registering on the platform, fund your account via the several funding methods supported by the broker, and access over 300 instruments across multiple asset classes.
The MetaTrader 5 platform is in a league of its own. The MT4 successor opens the door for traders to access over 300 global markets and trade effortlessly.
With its 21 time frames, advanced order types, and over 30 built-in indicators, it offers some advanced trading functions that will enhance a trader’s experience and boost their trading confidence.
An economic calendar and trade alerts are integrated into the platform to keep traders abreast of market-moving news, a necessity for traders who don’t want to miss out on trading opportunities or events that may impact their trading performance and result either positively or negatively.
MT5 users have hundreds of paid and free trading signals at their disposal to choose from. A couple of clicks are all you need to subscribe to the signals and have the trades on your MT5 platform automatically.
The Web Trader platform is equipped with some features that are designed to offer traders easy and simple market access, unmatched stability, and perfect precision. Besides allowing traders to trade from the same dashboard, account management is also possible through the platform.
Its built-in Client Portal simplifies the deposit and withdrawal processes for traders, only a few clicks are needed to fund your account or withdraw your earnings.
Some of the features you’ll find at your dashboard are:
- Order Module with a real-time calculator where your trading volume is displayed in dollar value and pips. The Module also allows traders to place ultra-fast market orders, saving them precious time.
- Precision charting with drawing tools and over 45 built-in indicators.
- Stop Loss / Take Profit Levels to help traders minimize trading risks and loss.
With a registered account, you can access the Web Trader account from your browser.
What Can I Trade On Moneta Markets?
It’s important to know what trading opportunities await you as a new user on the broker. Well, depending on your trading mission and goals, here are some of the tradable instruments to look forward to trading:
Cryptocurrency trading is allowed on the broker. It offers 6 digital coins for interested traders. On the platform, you can trade the leading digital coin – Bitcoin – and some altcoins such as Bitcoin Cash, Ethereum, Dash, Litecoin, and Ripple as CFD.
Note, however, that UK residents can’t trade Crypto CFDs. You can’t trade them if you are using a broker’s UK-based entity.
Users can trade any of the 7 commodities supported by the broker for trading such as gold, oil, cocoa, coffee, and more.
- Precious metals
The tradable precious metals that are open for trading are gold, silver, and a host of other precious metals that can be traded as contract-based tradables.
If you are interested in trading indices, rest assured that the broker makes provision for you and other prospective investors in the instrument type. Over 18 indices from some of the biggest companies are available for trading.
Moneta Markets’ clients can trade from the 43 currency pairs supported by the broker. The common pairs are USD/GBP, AUD/USD, EUR/GBP, USD/EUR, and several others.
Although the jurisdiction where a trader is operating from determines the available deposit method, Moneta Markets generally offers these payment options:
- Credit/debit card: Payments can be made through Visa and MasterCard. Payments with these cards are instantly processed.
- International wire transfer: You can fund your account through wire transfer. It takes between 2 and 5 business days to process such transfers.
- Bitcoin: With the global acceptance of digital currency, Moneta Markets included payment via Bitcoin into its platform to enable Cryptocurrency-loving traders to trade on the platform easily. Payment through Bitcoin is processed within a business day.
- JCP, FasaPay, and Stickpay: Payments through JCB, Stickpay, and FasaPay are instantly processed for a smooth trading experience.
While you have an array of funding methods, withdrawal requests are processed via bank wire transfer only and may take between a day or three business days to be completed.
What Account Types are available at Moneta Markets?
The broker boasts four account types, a demo, and three trading accounts. Here are the account options you have and their distinct features:
The STP Account is available on MT4 and MT5 platforms and supports some currencies such as CAD, USD, GBP, AUD, EUR, SGD, NZD, and JPY. You will have access to several tradable instruments such as 16 indices, 44 Forex pairs, 19 commodities, 6 crypto CFDs, and 226 shares if you meet the minimum deposit requirement of $5.
The average leverage stands at 1:500 while the starting spreads is 1.2 pips. Note, though, that this account doesn’t offer any commission per trade.
- Moneta Prime
Power traders who need a special trading account can opt for the Moneta Prime account. Besides its wide range of tradable instruments, it also offers competitive spreads and charges zero commission.
You need a minimum of $10,000 to subscribe to the account where spreads starting from 0.4 pips await you.
- True ECN
This account type offers the lowest spreads on MT4 and MT5 platforms. They are designed for Scalping, EA, or Auto trading, performance traders.
The account supports a couple of currencies such as AUD, USD, CAD, EUR, JPY, GBP, SGD, and NZD.
With a minimum deposit of $200, a leverage of 1:500 and starting spreads of 0 pips await you. However, when using this account, you will be charged $3 commission on each trade.
The tradable instruments through the account include 19 commodities, 6 crypto currencies CFDs, 226 share CFDs, 16 indices, and 44 currency pairs.
- Demo Account
While the Demo Account can’t be classified as a trading account, it helps prepare traders for the task ahead by offering them a virtual platform and fund to trade and learn the ropes.
Via the Demo Account, a trader can learn everything about the platform – features, offers, bonuses, risks, and every other information you need to become a better trader.
The free account type is recommended for new traders who may need some professional assistance or tutoring before investing real money. Established traders who want to practice or hone their trading skills may take advantage of the account to do so before they open a Live account for real trading.
Moneta Markets is leveraging the increasing number of mobile device users to increase its user base. In addition to the MetaTrader 4 and 5 platforms, it also offers its mobile app for Android and iOS devices and can be downloaded via Google Play and AppStore respectively.
The mobile application removes the stress of monitoring new trades and open positions every time by sitting in front of your computer all day long. From the convenience of your mobile device, you can perform these trading-related activities and more without spending an unnecessarily long time in front of a computer.
The broker has a robust customer support. It provides multilingual support during the 5 working days via:
- Live chat: The live chat support is located on the broker’s website. Click it and type in your complaint or request.
- Telephone: You can contact the customer support team on the telephone. UK-resident traders can reach the team via +44 113 320 4819 and +61 2 8330 1233 for international traders.
- Email: Another communication option is via email. Send your inquiry or request to email@example.com and await response from the team. It may take up to 24 hours before you receive a response from the team.
Moneta Markets also has a good online presence on Twitter and Facebook. Their clients can reach out to them via these social media platforms.
The experienced broker also has a regularly updated Frequently Asked Questions (FAQs) section where traders can find answers to most of their major questions and concerns. No wonder the CV Magazines Corporate Excellence Awards awarded Moneta Markets the 2020 Best Customer Service award as a CFD broker.
Moneta Markets Accepted Countries
Moneta Markets opens its door wide for some countries across the globe. Residents of the following countries can trade on the platform: South Africa, Hong Kong, Germany, Denmark, the United Kingdom, Saudi Arabia, Qatar, Italy, Norway, India, Luxembourg, United Arab Emirates, and Sweden.
Most African countries and other countries like Belarus, Burundi, Ukraine, Russian Federation, Sudan, France, Iran, Yemen, and Venezuela are forbidden from trading on the broker.
Final thoughts on Moneta Markets Malaysia
Moneta Markets has established itself as a force to reckon with in the Forex trading industry. Its array of features and wide range of tradable instruments make it a worthy consideration for Forex traders who are looking for the best platform where they can diversify their investments.