Moneta Markets broker stands out as a top choice for beginner to intermediate forex traders eager to expand their knowledge and explore advanced trading tools and strategies. This Moneta Markets review will be about its pricing, tools and resources, and trading experience.
Established in 2020 as part of the Vantage Group, Moneta Markets transitioned to an independent brokerage in 2022, making it a relatively new player in the forex market.
Designed with a robust infrastructure similar to other successful Vantage Group firms, Moneta Markets offers retail traders access to some of the most substantial liquidity pools in retail finance.
This is achieved by routing orders through the oneZero ecosystem, which connects to major banks and settlement institutions globally, including Goldman Sachs, UBS, Cboe Global Markets, Currenex, and Wells Fargo.
Pros and Cons of Using Moneta Markets
Pros
- Moneta Markets broker is overseen by regulatory authorities across three different levels: one at a top-tier level (Tier-1), another at a mid-tier level (Tier-2), and a third at a lower-tier level (Tier-4).
- Their PRO Trader web platform is based on TradingView, allowing you to trade directly from charts. You can easily change orders by dragging and dropping items on the chart.
- For those interested in social copy trading, Moneta Markets offers the CopyTrader service, which uses Pelican Exchange and ZuluTrade.
- In addition to this, they provide the MetaTrader suite. They also support trading with their PRO Trader and AppTrader platforms—both powered by TradingView.
Cons
- Moneta Markets might not be the best choice for affordable trading unless you’re ready to deposit $20,000 into their Ultra ECN account.
- The website has some outdated sections, and certain parts don’t work.
- They offer fewer markets compared to the top brokers that handle a lot of different assets.
- While they provide useful resources like Trading Central add-ons and daily video content from Moneta TV, their market research is not very detailed or high-quality.
- The Moneta Markets Masters Course has over 100 educational videos, but it lacks detailed written articles, which are important for a deeper understanding.
Top Features – Moneta Markets
1. Superior Trading Platforms: Moneta Markets provides traders with access to a variety of platforms, including MT4, MT5, AppTrader, CopyTrader app, and PRO Trader. This flexibility enables clients to transition effortlessly between platforms, delivering an exceptional trading experience tailored to diverse trading styles.
2. Efficient Onboarding Process: The registration procedure at Moneta Markets is notably swift and effective, available in 12 languages. The broker’s Client Portal allows users to set up an account in mere minutes, featuring a comprehensive array of instant deposit and withdrawal methods, along with a unique collection of trading tools from Trading Central.
3. Comprehensive Customer Support: Moneta Markets delivers award-winning, round-the-clock, multilingual customer support through email, live chat, and telephone services.
4. Rich Educational Resources: The educational portal offers an extensive selection of proprietary market research and educational materials. These resources assist users in monitoring economic indicators and evaluating market sentiment while also aiding traders at all experience levels in enhancing their trading capabilities. Additionally, users can participate in live video sessions.
5. Diverse Range of Instruments: Clients can select from an extensive array of financial instruments. Moneta Markets boasts over 1000 options across various asset classes, including Forex, Indices, Commodities, Share CFDs, Cryptocurrencies, ETFs, and Bonds.
Moneta Markets Tools and Resources
1. Trading Platforms
Moneta Markets provides a diverse selection of trading platforms, featuring mobile, desktop, and web applications for both MetaTrader 4 and MetaTrader 5. Additionally, it has developed its proprietary PROTrader terminal, available in mobile and web formats, which is powered by TradingView and delivers a comparable user experience.
2. Trading Tools
All trading platforms offered by Moneta Markets broker include standard chart time frames such as Monthly, Weekly, Daily, and various intraday candle configurations. However, traders accustomed to customizing candle periods that are not included in the standard charting options may find this limitation unsatisfactory.
Moneta Markets also supplies a detailed Economic Calendar accessible to all trading accounts. The “MonetaTV” service, which utilizes AI technology, provides daily market news and insights on significant market movements and headlines. Daily videos are created and uploaded to Moneta Markets’ YouTube channel, available at no cost to all users.
Furthermore, Moneta Markets extends several trading tools to clients maintaining a balance of at least $500. These tools include technical analysis, trade ideas, expert advisors, and extensive educational resources. The firm offers a Trading Academy video course that spans Basic, Intermediate, and Advanced levels, along with a variety of educational webinars.
Moneta Markets Regulation and Compliance
Moneta Markets is the trading name for Moneta Markets South Africa (Pty) Ltd. This company is an authorized Financial Service Provider, also known as an “FSP.”
It is officially registered and overseen by the Financial Sector Conduct Authority (FSCA) in South Africa.
The company’s license number is 47490. You can find Moneta Markets South Africa at 1 Hood Avenue, Rosebank, Johannesburg, Gauteng 2196, South Africa.
Moneta Markets Pricing and Fees
Moneta Markets provides some of the most competitive trading costs in the industry, featuring ECN spreads starting at 0.0 pips, no swap fees for its Gold and Crypto offerings, and no commissions on over 500 US Share CFDs.
Regarding fees, the broker facilitates low-cost ECN trading at a rate of just $1 per lot per side, while UK and European Share CFDs incur minimal commissions starting at 0.1% of the nominal value. All other products available for trading through the broker are free from commissions.
Furthermore, it is noteworthy that the broker does not impose any fees for depositing funds into the trading account and offers a reimbursement for one withdrawal fee each month, which is sufficient for most traders.
Aside from the limited commissions and rollover fees that apply to less than half of the broker’s available products, there are no inactivity fees, positioning the broker at the forefront of the industry in terms of fees and pricing.
Moneta Markets Reliability & Security
Moneta Markets provides strong and popular trading platforms for everyone. This broker offers MT4, MT5, Prime ECN, and Direct STP accounts. Clients can easily switch between MT4, MT5, and PRO Trader, making it convenient for trading.
The trading platforms can be used on both computers and mobile phones, and the apps are compatible with both Android and iOS devices. These platforms are considered reliable and steady by many users.
Moneta Markets has partnered with TradingView to offer the PRO Trader Platform, a web-based tool that is gaining popularity in the industry.
For those with limited time or who want to explore different trading strategies, Moneta Markets provides social trading options through the well-known platforms ZuluTrade and DupliTrade.
These options allow traders to follow and copy the trades of experienced investors, offering a way to diversify their trading strategies.
Moneta Markets Trading Experience
1. Tradeable Asset Classes
Moneta Markets provides an extensive selection of assets, featuring over 1,000 CFDs. This includes 46 forex pairs, 23 global indices, 19 commodities, more than 700 individual stocks, 30 cryptocurrency CFDs and pairs, 51 ETFs, and 7 Bond market CFDs.
2. Lot Sizes
Moneta Markets establishes minimum lot sizes of 0.01 lots for forex and cryptocurrency, 0.1 lots for the majority of individual share CFDs, and a minimum of 1.0 lot for Bond CFDs and Crypto ETFs. The minimum lot sizes for Futures ETFs vary based on the underlying asset.
3. Leverage
Moneta Markets extends substantial leverage options for retail traders, offering up to 1,000:1 on all forex pairs, index CFDs, and precious metals. Leverage for energy CFDs is limited to 500:1, while “soft” commodities (excluding energy and metals) allow for leverage up to 50:1. Individual share CFDs have a maximum leverage of 33:1.
4. Execution Quality
The execution quality of trades at Moneta Markets across all platforms is generally outstanding, although minor instances of slippage may occur, influenced by market volume and volatility. Slippage can happen in both directions, occasionally benefiting or disadvantaging the client’s terminal.
Conclusion
From the context of this Moneta Markets review, it has established a notable presence in a highly competitive industry. Moneta has emerged as one of the fastest-growing Forex brokers, marked by a swift rise in trading volume and a growing client base.
Its success has garnered widespread recognition in the industry, validating that its strategies and product offerings meet the needs of both novice and seasoned traders when selecting a broker.