Moneta Markets ReviewOpen Demo Account
Moneta Markets, like some but not all brokers, takes an in-house approach to the development of trading platforms and does not offer MetaTrader. In terms of usability, the platform has a distinctive colour scheme and a range of helpful trading tools designed to help you manage your order flow. It also offers a mobile app that enjoys compatibility with multiple mobile operating systems. Thanks to the many diverse ways that you can fund your account, meanwhile, you can ensure that you get up and running – and take advantage of the broker’s generous bonus scheme – with ease.
Moneta Markets is a major provider of a variety of brokerage services, including foreign exchange pairs, CFD shares and CFDs. The broker offers services across several major markets, including Australia and the UK. The broker has a number of particular advantages: it offers a powerful platform for trading that has been developed in-house by specialists at Moneta Markets, for example, while it also has a trader-friendly bonus system that is perfect for enhancing trading capital. However, there are also some downsides, such as a disparity in the amount of leverage offered. In this review, Moneta Markets will be looked at in depth and you can find out whether or not it is the right broker for you.
- Offers a powerful in-house platform with various technical indicators
- Provides good leverage options, including as high as 500:1 in some cases
- Offers a mobile app that can be downloaded on both iOS and Android
- Gives customers a range of customer service options
- Deposit bonus can be redeemed several times over, whether a trader is new or not
- The broker is not compatible with MetaTrader
- Leverage levels vary considerably between asset classes, and are not always favourable to the trader
- The broker’s services are not available in certain countries
What can you trade?
Moneta Markets Forex Review
Foreign exchange is a big part of the offer at Moneta Markets. As this Moneta Markets forex review will go on to explain, the broker provides more than 45 pairs for traders to choose from. Major currencies such as the Canadian dollar and Australian dollar are represented, while less well-known ones such as the Singaporean dollar are also on offer.
Moneta Markets CFD Review
This Moneta Markets broker review has explored the share CFD options available. More than 185 share CFDs from around the world are available to trade at this broker, with major names such as Facebook, Google and Apple all represented.
Moneta Markets Stocks Review
Most of the well-known global indices are offered by Moneta Markets for traders. In total, there are 15 such indices – including the British FTSE 100, the German DAX 30 and many more.
Moneta Markets Crypto Review
This Moneta Markets cryptocurrency review found that its crypto offering is relatively poor, with just six cryptocurrencies available to traders. The broker does, however, offer major names such as Dashcoin and bitcoin.
What did our traders think after reviewing the key criteria?
Moneta Markets Fees
One downside of using Moneta Markets is that there is no immediately obvious centralised view of the fees levied. This information is available across the broker’s website, but it is stored in different places. The good news is that there are no deposit fees to be paid, and the broker does make this clear. However, it reveals on its share CFDs page, for example, that it charges per trade for many transactions – a model that may not suit all traders.
According to its sign-up screen, Moneta Markets only offers one standard account type. This may be a downside for traders, many of whom like the option of switching between accounts with different benefits such as more generous leverage levels. There is, however, a demo account option – so a trader can use the platform to practice before committing in full to a paid-for account.
When it comes to platforms, the Moneta Markets offer is something of a mixed bag. It is anchored around the Moneta Markets WebTrader platform, which is an in-house service that comes with a number of decent features, including easy access to risk management tools such as ‘take profit’ orders. In addition, withdrawals and deposits can be made with ease – and there is also a useful calculation function that demonstrates trading volume in terms of both dollar value and in pip format.
However, a major downside is that this broker does not include the commonly used MetaTrader platform in its list of available platforms. For traders who wish to use MetaTrader on the basis that they know it well, this broker might not be an ideal choice.
In terms of mobile applications, meanwhile, the broker offers a mobile app that has again been developed in-house. This mobile application can be downloaded for both Android and for iOS.
This Moneta Markets CFD review will now explore the usability of the Moneta Markets platform. This is important to any potential trader, especially given that clarity can make all the difference when it comes to trading decisions.
The colour scheme of the platform is laid out in a distinctive way, with a dark background being complemented by bold and bright colours, such as greens and reds, for individual elements. One particular usability-related advantage of the platform is that it comes with over 45 technical indicators integrated into the system, which is actually more than some competitors: MetaTrader 4, for example, only has 30 built-in indicators. Therefore, while traders might not be able to enjoy the interface that they know well from MetaTrader, they may find that their experience is in fact enhanced.
According to the Moneta Markets website, there are several ways to get in touch with the company if you need some support. It is possible to get in touch via a dedicated support email address, while there is also a live chat function for potentially more instant communication. There is also a telephone number. According to the broker, it offers its customer service provision 24 hours a day, five days a week.
The broker offers its website in a wide variety of languages, including Japanese, French and Spanish, which increases its accessibility for customers from all sorts of different backgrounds.
In addition, this broker also provides a clear risk disclaimer that assists traders looking to get some information about the inherent risk of speculating on assets like these. The risk disclaimer is posted on the Moneta Markets website, and reads as follows:
“Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please read our legal documents and ensure that you fully understand the risks before you make any trading decisions.”
Customers of Moneta Markets can benefit from a wide variety of different payment methods – and no matter what their preferred method might be, there will be a relevant option.
In terms of card payments, for example, customers can make their deposit via well-known names such as Visa. Japan-based global payment service JCB is also accepted, while the direct debit service FastPay is also available.
When it comes to bank transfers, a wire transfer system is available for customers to use. Moneta Markets also makes it clear on its website that its custodian bank is the National Australia Bank.
It is also possible to fund an account via bitcoin, so those who deal in cryptocurrency will have appropriate options available to them. Other technological innovations are also welcome at this broker, including e-wallets such as Neteller and Skrill. The major e-wallet service PayPal is also represented, which is sometimes not the case at other brokers – meaning that the range of funding methods on offer truly is particularly broad.
Moneta Markets offers a generous account funding bonus that can extend the value of your trading account and let you access the benefits of extra capital. All that a customer has to do in order to take advantage of the offer is to add an extra $500 or more to their account, and from there Moneta Markets will add an additional 50% of the sum.
Unusually, this offer can be redeemed whether or not you are a new customer. Some brokers only offer deposit bonuses to customers who are new, so this is a particularly generous option. The terms and conditions of the bonus scheme indicate that it is far from a one-off offer. Customers can make several claims, so the benefit of the added cash can be felt several times.
Regulation and Deposit Protection
The regulatory environment in which Moneta Markets operates is complex. The broker is in fact owned by a company named Vantage International Group Limited, and Vantage is both the owner of the Moneta trademark and also the provider of the investment products offered.
Vantage is an international firm, and it is regulated by several different providers all over the world.
The first is the Cayman Islands Monetary Authority (CIMA). In this jurisdiction, it has been given a designated Securities Investment Business Law number, which is 1383491.
In terms of larger countries, meanwhile, the broker has approval from a number of other regulatory bodies around the world.
The firm is, for example, regulated by the Australian Securities and Investments Commission (ASIC), where its number is 428901. Finally, it is also regulated in the UK by one of the most prominent regulatory bodies in the world, the Financial Conduct Authority (FCA) – its number there is 590299.
In terms of deposit protection, the client agreement document on the broker’s website suggests that the broker will place deposits into a “client segregated bank account when required by Law”. It is worth reading this document in full in order to understand the extent to which Moneta Markets will act to protect your cash.
Finally, it is important to emphasise that citizens from a range of countries are not permitted to trade at Moneta Markets. These include major economies such as the US and Japan, but also less prominent countries such as North Korea.
Moneta Markets has won a respectable array of awards in recent years. In the 2020 M&A Today Global Awards, for example, the broker won the ‘Best Customer Support’ award for a CFD broker, and in the CV Magazine Corporate Excellence Awards in 2020, it won the ‘Most Advanced Web-Based CFD Trading Platform’ award.