Moneta Markets Review
Review Summary
Moneta Markets is a reliable and user-friendly trading platform regulated by ASIC and VFSC, offering a wide range of assets and low minimum deposits. While it has some drawbacks like an inactivity fee and limited educational resources, it is well-suited for both beginner and experienced traders.
When it comes to choosing an online broker for your trading needs, it’s essential to make sure you’re working with a reputable and reliable platform. Moneta Markets has been gaining traction in the trading world, but is it the right fit for you? In this Moneta Markets review, we’ll dive into the platform’s features, fees, regulation, and more to help you decide.
Moneta Markets Overview
Moneta Markets is an online forex and CFD trading platform launched in 2020. It is a subsidiary of Vantage International Group, which has been in the industry since 2009. Moneta Markets aims to cater to both new and experienced traders with a user-friendly interface, a variety of trading tools, and a range of assets, including forex, commodities, indices, shares, and cryptocurrencies.
Regulation
Moneta Markets operates under the oversight of several regulatory bodies. It is authorized by:
- Australian Securities and Investments Commission (ASIC) – A well-respected regulatory body ensuring the platform adheres to stringent operational guidelines.
- Vanuatu Financial Services Commission (VFSC) – Regulates Moneta Markets for its global clientele.
Although the VFSC is considered a less stringent regulator compared to ASIC, Moneta Markets’ relationship with Vantage International Group adds credibility, given that the parent company is also regulated by ASIC.
Security Measures:
- SSL encryption: All data is protected using top-tier encryption standards.
- Segregated client funds: Moneta Markets keeps your funds in separate accounts, ensuring your money is safe even in the unlikely event of the company facing financial difficulties.
Moneta Markets Platforms and Tools
Moneta Markets offers several trading platforms to meet the needs of different traders:
Moneta Markets WebTrader:
This is the platform’s proprietary browser-based trading solution. It offers an intuitive interface, making it ideal for beginners. The WebTrader comes with integrated charting tools, technical indicators, and one-click trading functionality.
MetaTrader 4 (MT4) and MetaTrader 5 (MT5):
For those who prefer more advanced trading platforms, Moneta Markets supports both MT4 and MT5. These platforms are industry-standard, known for their comprehensive tools and features such as:
- Advanced charting capabilities
- Expert Advisors (EAs) for automated trading
- Wide range of technical indicators
Moneta Markets Mobile App:
The mobile app is available for both Android and iOS devices, allowing you to manage your trades on the go. It includes a full suite of trading tools, including charts, indicators, and order management features.
Assets and Markets Offered by Moneta Markets
Moneta Markets provides a wide range of assets across several classes:
- Forex Trading: You can trade over 45 forex currency pairs, including major, minor, and exotic pairs.
- Indices: Trade popular global indices such as the S&P 500, NASDAQ, FTSE 100, and more.
- Commodities: Trade both soft and hard commodities, including oil, gold, and agricultural products like wheat and coffee.
- Shares: Moneta Markets offers access to over 200 shares of global companies such as Apple, Amazon, and Tesla.
- Cryptocurrency: Although relatively new to the platform, you can now trade a variety of cryptocurrencies, including Bitcoin and Ethereum.
Account Types
Moneta Markets offers three main account types:
- Standard Account: Ideal for beginners, with competitive spreads and no commissions. The minimum deposit is $50.
- ECN Account: This account type is best suited for more experienced traders. It offers tight spreads starting from 0.0 pips, with a commission of $3 per lot traded. The minimum deposit is $200.
- Islamic Account: This is a swap-free account designed for traders who wish to follow Islamic finance principles.
Moneta Markets Fees and Spreads
Moneta Markets charges low trading fees, particularly for the ECN account. The spreads on the Standard Account start at 1.2 pips, while ECN accounts enjoy spreads from 0.0 pips. There are no deposit or withdrawal fees, although some payment methods may incur third-party charges.
The platform also charges an inactivity fee of $10 per month if your account remains dormant for over 6 months.
Deposit and Withdrawal Methods
Moneta Markets offers a variety of payment methods for both deposits and withdrawals:
- Credit/Debit Cards
- Bank Wire Transfer
- eWallets (including Skrill, Neteller, and FasaPay)
- Cryptocurrency
Deposits are typically processed instantly, while withdrawals can take up to 1-5 business days depending on the method used.
Customer Support
Moneta Markets offers customer support 24/5 via live chat, email, and phone. The support team is responsive and knowledgeable, offering help in multiple languages. Additionally, the platform has a comprehensive FAQ section that addresses common issues and queries.
Moneta Markets Pros and Cons
| Pros | Cons |
|---|---|
| Regulated by ASIC and VFSC | Inactivity fee for dormant accounts |
| Low minimum deposit of $50 | VFSC regulation is less stringent |
| Wide range of assets (forex, stocks, indices, etc.) | Limited educational resources |
| User-friendly trading platforms (WebTrader, MT4, MT5, mobile) | Customer support not available on weekends |
| 24/5 responsive customer support | No fixed spread account option |
Pros:
- Regulated by ASIC and VFSC – Offers a sense of security.
- Low minimum deposit – Only $50 to start trading.
- Wide range of assets – Trade forex, stocks, indices, and more.
- User-friendly platforms – WebTrader, MT4, MT5, and mobile apps available.
- Good customer support – Available 24/5 in multiple languages.
Cons:
- Inactivity fee – A charge for accounts that go dormant for over six months.
- Limited regulatory oversight outside of Australia – VFSC is not as stringent as some other regulatory bodies.
- Limited educational resources – New traders may find the educational content somewhat lacking.
Bottom Line
In conclusion, Moneta Markets is a solid option for traders looking for a reliable and regulated broker. The platform’s range of assets, low minimum deposit, and user-friendly trading platforms make it suitable for both beginners and experienced traders. While it has some downsides, such as inactivity fees and limited educational resources, its strengths far outweigh its weaknesses.
If you’re looking for a broker that offers competitive spreads, robust security, and a smooth trading experience, Moneta Markets is definitely worth considering.
