Our Review Approach for Moneta Markets
At Moneta Markets, our team of Forex Trading experts, each with over a decade of experience, undertakes a thorough examination. This encompasses a comprehensive review of trading conditions, compliance with regulatory standards, assessment of fees and spreads, evaluation of platform functionalities, interactions with customer support, and hands-on trading experiences. Our mission is to furnish you with expert insights into the world of Moneta Markets.
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- Leverage: 1:30 | 1:2000
- Regulation: CySEC, FCA, DFSA, FSCA, FSA, CMA
- Min. Deposit: 0 US$
- HQ: Cyprus
- Platforms: MT4, MT5, HFM Trading App
- Found in: 2010
- HF Markets (Europe) Ltd – authorized by CySEC (Cyprus) registration no. 183/12
- HF Markets (UK) Limited – authorized by FCA (UK) registration no. 801701
- HF Markets (DIFC) Ltd – authorized DFSA (Dubai) registration no. F004885
- HF Markets (SV) Ltd – authorized by FSA SVG registration no. 22747 IBC 2015
- HF Markets (SV) Ltd – authorized by FSC (Mauritius) registration no. C110008214
- HF Markets SA (PTY) Ltd – authorized by FSCA (South Africa) registration no. 46632
- HF Markets (Seychelles) Ltd – authorized by FSA (Seychelles) registration no. SD015
- HFM Investments Ltd – authorized by CMA (Kenya) license no. 155
What is Moneta Markets?
Moneta Markets is a CFD and Forex trading company based in South Africa, with over 10 years of experience in the global financial market. We found that the broker offers access to more than 900 trading products and has served over 70,000 clients worldwide.
Additionally, Moneta Markets is authorized and regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and holds licenses in Seychelles and Saint Vincent and the Grenadines too.
Moneta Markets Pros and Cons
Moneta Markets is a well-established broker offering competitive trading fees and spreads starting from 0.0 pips. Our research shows that the broker offers its clients a diverse selection of trading instruments through the widely-used MT4 and MT5 platforms, as well as the choice of ECN and STP accounts for their trading needs.
For the cons, the trading conditions might vary based on the entity, and there is no 24/7 customer support.
|Regulated broker with good trading conditions||Conditions might vary based on the entity|
|MT4 and MT5 trading platforms||No 24/7 customer support|
|STP execution model|
|FSCA license and overseeing|
Moneta Markets Review Summary in 10 Points
|Regulation||FSCA, FSA, SVGFSA|
|Platforms||MT4, MT5, Pro Trader, WebTrader|
|Instruments||Forex, Share CFDs, Indices, Commodities, ETFs, Bonds, Crypto CFDs|
|EUR/USD Spread||0.1 pips|
|Base Currencies||USD, EUR, GBP, NZD, SGD|
Overall Moneta Markets Ranking
According to our test trade, Moneta Markets is a licensed and regulated broker that offers competitive and transparent trading conditions suitable for traders of all levels. Traders can take advantage of a variety of trading services with low spreads and fees.
- Moneta Markets Overall Ranking is 8.5 out of 10 based on our testing and compared to over 500 brokers, see Our Ranking below compared to other industry Leading Brokers.
|Ranking||Moneta Markets||Mitrade||Fusion Markets|
|Advantages||Trading Platforms||Trading Conditions||Trading Instruments|
Moneta Markets Alternative Brokers
Moneta Markets provides competitive trading solutions and low trading costs, however, there are other brokers in the industry that offer similar solutions. Below we have identified the top alternatives to Moneta Markets:
- Mitrade – Good Trading Conditions
- Fusion Markets – Wide Range of Trading Instruments
- Globex360 – Competitive Spreads
As we found, Moneta Markets has won many awards from reputable industry organizations. See some of the awards in the screenshot below.
Is Moneta Markets Safe or Scam?
No, Moneta Markets is not a scam. It is a regulated broker established in South Africa, authorized and regulated by FSCA regulatory body. In addition, we discovered that Moneta Markets has obtained licenses from two regulatory bodies in offshore zones, the FSA in Seychelles and the SVGFSA in Saint Vincent and the Grenadines.
Is Moneta Markets Legit?
Yes, Moneta Markets is a legit and regulated broker.
As we found the brokerage firm operates under three different entities, each registered and regulated by the relevant financial authority in its respective jurisdiction. Moneta Markets South Africa (Pty) Ltd is registered and regulated by the FSCA of South Africa, Moneta Markets Ltd is authorized and regulated by the Financial Services Authority of Seychelles, and Moneta LLC is registered under the SVGFSA in Saint Vincent and the Grenadines.
See our conclusion on Moneta Markets Reliability:
- Our Ranked Moneta Markets Trust Score is 8.5 out of 10 for the good reputation and services provided. However, the only point is the availability of international trading via offshore entities.
|Moneta Markets Strong Points||Moneta Markets Weak Points|
|Negative balance protection||Regulatory standards and protection vary based on the entity|
How Are You Protected?
We discovered that Moneta Markets keeps clients’ funds separate from its accounts and does not use them for business purposes. Additionally, the broker also provides negative balance protection which means that clients’ accounts cannot go into negative balance, even in cases of extreme market volatility or unforeseen events.
Using leverage in trading can enable traders to increase their trading size and potentially make more profits. However, it is important to note that leverage can also work against you and result in substantial losses. Therefore, we highly recommend you take the necessary time to fully understand how to use leverage properly.
Moneta Markets leverage is offered according to the FSCA, FSA, and SVGFSA regulations:
- The minimum leverage is 1:33 for Share CFDs, while the maximum leverage is 1:1000 for Forex, Indices, and Metals.
Our research has revealed that Moneta Markets offers two types of accounts: Direct STP and Prime ECN accounts, with USD, AUD, EUR, GBP, SGD, and other currencies available for trading. Moneta Markets offers Swap-Free accounts as well, also known as Islamic accounts, for its Muslim clients.
New traders can also take advantage of the free Demo account to practice trading with trial trades.
|Fast account opening||None|
|Hedging and scalping allowed|
|Demo and Islamic accounts available|
|Low minimum deposit|
How to Open Moneta Markets Live Account?
Opening an account with Moneta Markets is quite easy. You should follow the opening account or sign-in page and proceed with the guided steps:
- Select and Click on the “Open Live Account” page
- Enter the required personal data (Name, email, phone number, etc.)
- Verify your personal data by upload of documentation (residential proof, ID, etc.)
- Complete the electronic quiz confirming your trading experience
- Once your account is activated and proven, follow with the money deposit.
Moneta Markets provides an access to more than 1000 trading instruments across Forex, Share CFDs, Indices, Commodities, ETFs, Bonds, Crypto CFDs asset classes, and with spreads starting from 0.0 pips.
We got in our test, that the Forex market, which is popular among traders, operates 24/5. The average spread for EUR/USD is 0.1 pips.
- Moneta Markets Markets Range Score is 8.9 out of 10 for wide trading instrument selection. On the other hand, many popular asset classes, such as futures, stocks, and options, are not available to trade.
Moneta Markets Fees
Moneta Markets has competitive fees which are primarily based on the spread and account type selected. Commission fees of $3 per lot per side are charged for Prime ECN accounts.
According to our research, the broker does not impose any deposit or withdrawal fees. However, any additional fees charged by banks and intermediaries involved will be at your expense. Typically, an international bank wire transfer incurs a cost of $25.
It is worth noting that if you keep your position open for more than a day, you will be charged overnight fees. However, Moneta Markets does not charge an inactivity fee, which is a benefit.
- Moneta Markets Fees are ranked low or average with an overall rating of 8.9 out of 10 based on our testing and compared to over 500 other brokers.
|Fees||Moneta Markets Fees||Mitrade Fees||Fusion Markets Fees|
Moneta Markets offers low floating spreads starting from 0.0 pips on Prime ECN trading account through its MT4 and Pro Trader trading platforms. Our testing found that the average spread for EUR/USD in Forex trading is 0.1 pips. You can refer to the table below for more information about the spreads of other products offered by Moneta Markets.
- Moneta Markets Spreads are ranked low with an overall rating of 8.5 out of 10 based on our testing comparison to other brokers. We found Forex spread much lower than the industry average, and spreads for other instruments are competitive too.
|Asset/ Pair||Moneta Markets Spread||Mitrade Spread||Fusion Markets Spread|
|EUR USD Spread||0.1 pips||0.12 pips||0.02 pips|
|Crude Oil WTI Spread||0.3||1.33||0.15|
|BTC USD Spread||–||0.42||28.091|
Deposits and Withdrawals
While trading with Moneta Markets you have the option to fund your account via your Client Portal through various funding methods including Bank Wire, Credit/Debit cards, Skrill, Neteller, etc. It is important to note that certain funding methods may vary based on banks and other entities.
- Moneta Markets Funding Methods we ranked good with an overall rating of 8.9 out of 10. Fees are low, and also you can benefit from various account-based currencies.
Here are some good and negative points for Moneta Markets funding methods found:
|Moneta Markets Advantage||Moneta Markets Disadvantage|
|$50 is the initial deposit amount||Methods and fees might vary in each entity|
|No fees for deposits and withdrawals|
|Fast digital deposits|
|Multiple account base currencies|
In terms of funding methods, Moneta Markets offers the following payment methods:
- Bank Wire,
- Credit/Debit cards,
- Sticpay, etc.
Moneta Markets Minimum Deposit
Moneta Markets minimum deposit amount is $50 for the Direct STP account, while for Prime ECN account the initial amount is $200.
Moneta Markets minimum deposit vs other brokers
|Moneta Markets||Most Other Brokers|
Moneta Markets Withdrawals
Clients of Moneta Markets can easily and quickly withdraw their funds by accessing their Client Portal. The processing time for your withdrawal may vary depending on the method you choose, but generally, it will take between 1 to 3 business days.
How Withdraw Money from Moneta Markets Step by Step:
- Login to your account
- Select Withdraw Funds’ in the menu tab
- Enter the withdrawn amount
- Choose the withdrawal method
- Complete the electronic request with necessary requirements
- Confirm withdrawal information and Submit
- Check the current status of withdrawal through your Dashboard
Based on our research Moneta Markets offers its clients a selection of widely used trading platforms, including the industry-popular MetaTrader 4 and MetaTrader 5, as well as WebTrader and Pro Trader. These platforms are available in web, mobile, and desktop versions, providing traders with flexibility in accessing their accounts and trading tools.
Our findings revealed that both MT4 and MT5 trading platforms offer traders a range of analytical tools, indicators, and charts that can assist them in making trading decisions. These platforms also allow traders to automate their trades using Forex Robots (EAs), which can help them identify market movements and improve their stop-loss and market-entry strategies. In addition, Moneta Markets offers Copy Trading through MT4 and PRO Trader platforms, allowing clients to follow and replicate the trades of experienced traders.
- Moneta Markets Platform is ranked good with an overall rating of 9 out of 10 compared to over 500 other brokers. We mark it as good since it offers popular MT4 and MT5 professional trading platforms.
Trading Platform Comparison to Other Brokers:
|Platforms||Moneta Markets Platforms||Mitrade Platforms||Fusion Markets Platforms|
We got in our test that Moneta Markets offers 24/5 multilingual customer support through Live Chat, International Phone lines, and Email.
- Customer Support in Moneta Markets is ranked good with an overall rating of 8.9 out of 10 based on our testing. We got fast and knowledgeable responses, and also easy to reach during the working days.
See our find and ranking on Customer Service Quality:
|Availability of live chat, international phone lines, and email||No 24/7 customer support|
Moneta Markets Education
According to our research, Moneta Markets provides various educational resources for traders of all levels, such as video tutorials on the WebTrader platform, live streams, recordings, an economic calendar, and market news. However, we observed that the broker does not offer any seminars or webinars, which can be important for beginner traders.
- Moneta Markets Education ranked with an overall rating of 8.5 out of 10 based on our research. We found that the broker offers good-quality of educational materials and analysis.
Moneta Markets Review Conclusion
Overall, Moneta Markets appears to be a reputable broker that provides access to a wide range of trading instruments including CFDs and Forex with low spreads and leverage. Additionally, the broker supports popular trading platforms, including MT4, and MT5 which provide traders with multiple tools and features for manual and automated trading.
Moneta Markets also provides multilingual customer support and several educational resources, including a comprehensive economic calendar and market news. However, we noted that Moneta Markets does not provide webinars and seminars, which could be helpful for novice traders.
Based on Our findings and Financial Expert Opinions Moneta Markets is Good for:
- Traders from South Africa
- International traders
- Traders who prefer MT4 and MT5 trading platforms
- Advanced traders
- CFD and currency trading
- Copy trading
- Scalping/Hedging strategies
- ECN/STP execution
- Muslim traders
- Competitive spreads and costs
- Supportive customer support
- EA/Auto trading