Moneta Markets is a leading online forex broker that provides global traders access to the foreign exchange market. Founded in 2020, the broker’s primary goal is to provide a user-friendly trading environment that complements a variety of trading instruments and competitive trading conditions. Keep reading this Moneta Markets review to know more about this platform.
A Detailed Table on Moneta Markets
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Rules and Regulations
Moneta Markets maintains a set of rules and regulations designed to ensure a fair and secure trading environment. Traders must comply with Know Your Customer (KYC) procedures, providing valid identification and financial information. The platform strictly prohibits fraudulent activities, market manipulation, and money laundering
Client funds are held in segregated accounts, safeguarding them from operational risks. The platform also enforces risk management protocols to protect traders from excessive losses. By prioritizing compliance, transparency, and user protection, Moneta Markets aims to foster a trustworthy and efficient trading ecosystem for its users.
What Can You Trade On Moneta Markets
Moneta Markets offers a variety of financial instruments for trading, allowing traders to market the market from one platform. While specific offerings may evolve with things, here are some common instruments you can trade on this platform:
Forex: Owners can do foreign sub-participation (Forex) and trade major, and minor outside pairs. It allows for speculation on exchange rate fluctuations.
Commodities: Moneta offers the ability to market various commodities, silver, gold, oil and other precious metals and energy commodities. Traders can take advantage of this government rule.
Indices: Traders have the opportunity to trade a selection of global stock market symbols, which announce the overall performance of specific stock market sectors. This allows owners to speculate on the direction of the larger market.
Share CFDs: Moneta Markets offers Contracts for Difference (CFD) product calculations based on shares of various companies. CFDs can be traded, allowing trading from price rules.
ETFs: Exchange-traded funds (ETFs) are available to trade in the Moneta market. ETFs are investment funds that track the performance of a specific index or asset class. Mamas can take a position on the price regulation of ETFs.
Bonds: Moneta markets enable the trading of bonds, which are securities issued by governments or corporations. Ownership can speculate on bond interest rates and yield movements.
Spreads, Fees, And Commissions
Moneta Markets offers three account options with different trading costs. Commission-based STP accounts are expensive for forex trading, while commission-free True ECN accounts have tighter spreads and a $6 commission per round-turn lot, which is close to the industry average.
The spread-only account has an average spread of 1.22 pips for the EUR/USD pair, while the True ECN account has an average spread of 0.15 pips for the same pair, with an overall cost of around 0.75 pips, slightly lower than the industry.
Deposit and Withdrawal Fees
Moneta Markets adopts a customer-friendly fee structure. The broker offers low-cost ECN trading with a fee of only $1 per lot per side, providing cost-effective trading for clients.
The Moneta Markets minimum deposit amount is just $50. This platform does not charge any fees for depositing funds into trading accounts. It means that merchants can transfer funds to their accounts without any additional charges, contributing to a seamless funding process.
How to Create an Account on Moneta Markets
Creating an account on Moneta Markets is an easy task. You need to follow some simple steps for it which are
- Go to the official Moneta Markets website in your web browser.
- Locate the ‘Open Live Account’ button on the homepage and click on it.
- Provide accurate personal information, including your full name, email address, phone number, and residential address.
- Select the type of trading account that suits your preferences, such as Standard, Pro, or Islamic accounts.
- Follow the Know Your Customer (KYC) process by submitting the required identification documents, such as a valid ID and proof of address.
- Read and agree to Moneta Markets’ terms and conditions before proceeding.
- Fund your trading account by selecting a convenient payment method and depositing the required amount.
- Verify your email address and complete any additional verification steps as prompted.
- Once your account is verified and funded, Go for Moneta Markets login and then start trading.
Is Moneta Markets Safe to Trade?
Moneta Markets can be considered a safe broker overall. Both its firms ensure the segmentation of client funds and negative balance protection. And although there is no compensation scheme, the risk of broker bankruptcy is relatively negligible. It should also be commended for issuing a ‘best practice policy’.
Which is the Best Alternative of Moneta Markets
If you think Moneta Markets doesn’t suit your needs, then there are some other options where you can trade. The best alternative for you can be AvaTrade. It is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader.
|CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto
|CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting
|FSCA, ASIC, FSA
|ASIC, CySEC, FSCA, ISA, CBol, FSA, FRSA, BVI, ADGM
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|20% Welcome Bonus up to $10,000
|AppTrader, ProTrader, MT4, MT5, TradingView, TradingCentral
|WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
If you want to know more about AvaTrade, then you’re welcome to check out this AvaTrade review by our experts. It will help you get an overall idea of this platform.
Pros and Cons of Moneta Markets
Trading with Moneta Markets presents a variety of advantages and disadvantages that traders should consider when selecting a forex broker. These factors contribute to the overall trading experience, and understanding them can help traders align their choices with their trading goals and preferences.
|Offers indemnity insurance for additional protection.
|Not ideal for low-cost trading
|Social copy-trading options are available through DupliTrade and ZuluTrade.
|Lack of integrated trading tools in WebTrader and AppTrader.
|Regulated in a tier-one jurisdiction.
|Provides a range of platforms, including MetaTrader, WebTrader, and AppTrader.
|Moneta Markets is regulated by the ASIC, FSCA, and FSA
Moneta Markets is a regulated multi-asset broker offering an excellent suite of 1000+ short-term instruments. There are no deposit fees and the minimum deposit is accessible at $50. We tried to share everything about Moneta markets in this article. Hopefully, this small effort will be helpful for all of you. Thank you all for reading this article.