Moneta Markets Review 2024

Trust

Moneta Markets Regulations

In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

This is what I discovered about the several entities operating under the Moneta Markets trade name:

• Moneta Markets South Africa (Pty) Ltd is licensed and regulated by the Financial Sector Conduct Authority (FSCA) of South Africa under license number 47490. We rate the FSCA as a Tier-2 regulator.
• Moneta Markets PTY Ltd is soliciting Business from the UAE through a Non-Exclusive Introducing Broker Agreement with Sterling Financial Services LLC. The entity is regulated by the Securities and Commodities (SCA) Authority in the UAE under license number 305029. We rate the SEC as a Tier-2 regulator.
• Moneta Markets Ltd (Saint Lucia) is registered under the Saint Lucia Registry of International Business Companies with registration number 2023-0068. The entity is not regulated.
• Moneta Markets Ltd (Seychelles) is licensed and regulated by the Financial Services Authority (FSA) of Seychelles under license number SD144. We rate the FSA as a Tier-3 regulator.

Why is it Important to Know Where Your Broker’s Subsidiaries are Regulated?

Brokers operate multiple entities to serve clients worldwide. However, licenses obtained from regulators in different jurisdictions do not always entail the same degree of protection.

Some regulators mandate compliance with the strictest financial frameworks, while others are less rigid. That is why traders must familiarize themselves with the safety mechanisms ensured by the entity they want to open an account.

Here is what you need to be looking for in a broker in terms of safety mechanisms:

• Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. All Moneta Markets entities ensure the segregation of client funds.
• Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. Negative balance protection is available with all Moneta Markets entities.
• Compensation scheme. A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. While Moneta Markets does not participate in a compensation scheme, the broker has issued a ‘professional indemnity insurance’ to protect its clients against its credit liabilities.
• Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum retail leverage with Moneta Markets is 1:1000.

Stability and Transparency

In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and information transparency.

Moneta Markets’ website displays all relevant information about its trading fees. I appreciated that traders can quickly see the broker’s commission rates across different account types and asset classes. In contrast, most other brokers usually only display their FX commissions.

Is Moneta Markets Safe to Trade With?

I concluded that Moneta Markets is safe to trade with because of the following factors:

• Has issued a ‘best execution policy’
• Keeps client funds in segregated accounts
• Has issued a ‘professional indemnity insurance’

Fees

Moneta Markets Trading Fees

Moneta Markets Spreads

I tested Moneta Markets’ spreads on 7 August 2024 during the London and the New York open. The results are shown in the table below:

Broken down by asset class and compared to the industry average, Moneta Markets charges low spreads on share CFDs and cryptocurrencies, low-to-average spreads on commodities and indices, and elevated spreads on currency pairs.

Moneta Markets Swaps

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full base currency contract (100,000 units).

My tests indicate that Moneta Markets charges low-to-average overnight fees. These are not particularly suitable for longer-term trading.

Moneta Markets’ Non-Trading Fees

Moneta Markets does not charge a handling fee for deposits and withdrawals, though third-party banking fees may apply.

Dormant accounts are not liable for an inactivity fee.

Accounts Comparison

I have compiled the table below to help you better understand the difference between the trading fees of Moneta Markets’ two retail account types and the industry average. It illustrates the spreads and commissions I have recorded for the EUR/USD pair and compares them against the typical costs for ECN and STP accounts in the industry at large.

The table demonstrates how much you would have to pay to trade 1 full lot (100,000 units) in EUR/USD with a pip value of $10 for each account.

To calculate the cost of such a full-sized trade, I used this formula: Spread x pip value+commission

According to my findings, Moneta Markets’ standard (Direct STP) account features floating spreads that sometimes exceed the industry average. However, the Prime ECN account type offers much more competitive fees.

Are Moenta Markets’ Fees Competitive?

Overall, I concluded that Moneta Markets’ fees are competitive. The most favorable prices are available on the ECN account type, which features raw spreads from 0.0 pips and a $6 round-turn commission.

The account type also has a very low deposit requirement of only $50, making it quite accessible. With a deposit of at least $500, traders gain access to a wide variety of tools like Trading Central and VPS.

Finally, Moneta Markets’ fees are more competitive because the broker does not charge handling fees for deposits or withdrawals.

Platforms and Tools

The Web-Based Version of the Pro Trader Platform

I tested the web-based version of PRO Trader, Moneta Markets’ proprietary platform with charts powered by TradingView. The platform is highly versatile and customizable. It accommodates advanced technical analysis and is equally suitable for inexperienced and experienced traders. The platform features some essential tools, such as one-click trading and market depth.

The greatest advantage of PRO Trader is its versatility. The platform’s charts are easily scalable, making them ideal for multi-timeframe analysis. PRO Trader also has an easy-to-navigate interface, making it quite easy for newbies to find their way around.

Moneta Markets provides free Virtual Private Server (VPS) hosting for low-latency trading. It is available to funded trading accounts with at least $500 that achieve at least 5 lots in trading volume per month.

The broker also offers the Alpha Generation plugin for MetaTrader 4 and 5, allowing traders to choose from more technical indicators and chart configuration possibilities.

General Ease of Use

As shown above, the PRO Trader platform is pretty streamlined. Account info is positioned at the bottom of the platform; technical indicators and drawing tools are positioned on the left-hand panel; the chart screen occupies the middle section; and other important tools, such as watch lists and the depth of markets tool, are available on the right-hand panel.

Charts

I consider the charts screen a platform’s most important feature. It facilitates technical analysis by providing an overview of price action behavior. Chart artists use many analytical tools and chart configuration possibilities to examine it from multiple angles. In my experience, the really important aspect of a chart is how easy it is to scale price action up and down. PRO Trader is a platform that makes price action examination extremely easy.

As can be seen above, the chart screen retains its fluidity even when one or more technical indicators and drawing tools are added.

I have broken down the available analytical tools and chart configurations below:

• 105 technical indicators. The platform supports trend-based, volume-based indicators, oscillators, and more. These can be applied to study price action behavior and determine the underlying market sentiment. In general, technical indicators are used to gauge where the market is likely to head next.
• 59 drawing tools. Drawing tools, such as Fibonacci retracement levels and Elliott waves, are used to study repeatable price patterns. Additionally, they can be applied to determine key support and resistance levels and potential breakout or breakdown levels.
• 11 timeframes. MT4 allows multi-timeframe analysis of price action behavior. The greater the timeframes, the more intricate examinations can be carried out across the short-term and long-term.
• 16 chart types. Price action can be represented as a line, bars, or candlesticks. This diversity enables traders to examine potential trading opportunities from different angles.

Orders

I have broken down the available order types on the PRO Trader platform below:

• Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price at which the order is filled.
• Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
• Stop orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

My Key Takeaways After Testing the Pro Trader Platform

The PRO Trader platform is quite versatile and features charts powered by the seamless TradingView, which is arguably the most comprehensive software for technical analysis. It includes an impressive 150+ analytical tools, plus multiple timeframes and chart types. That’s why I consider PRO Trader an ideal choice for carrying out advanced technical analysis.

Moneta Markets’ App Trader

Moneta Markets’ App Trader is versatile and feature-rich. It allows traders to stay connected to the market on the go and adjust their open positions if necessary. The app also allows traders to examine price action behavior, place all basic orders (market, limit, and stop), and access the broker’s broad array of research content.

My Key Takeaways After Testing the App Trader

I appreciated the App Trader’s intuitive design. The app is light, easy to navigate, and user-friendly, even for beginners. Its standout feature is the incorporation of actionable trading signals, allowing traders to make favorable entries even without access to their trading stations.

However, like all similar apps, App Trader has a limitation: it must be used on low-resolution devices, making it harder to grasp market sentiment from cramped charts. Despite this, I would still recommend App Trader for its reliability and well-rounded design.

Moneta Markets’ Execution Model

Moneta Markets operates under a hybrid STP/ECN model without a dealing desk. Client orders with the broker’s Direct STP account are routed to the broker’s liquidity providers, while orders with the ECN account type are matched using electronic communication networks.

I also tested the broker’s execution speed, which I clocked at around 130 milliseconds. This is slightly slower than the industry average, though the overall performance can be enhanced using the broker’s VPS offering.

Tradable Instruments

Compared to the industry average, Moneta Markets offers an average amount of currency pairs and a high amount of commodities, share CFDs, indices, and cryptocurrencies.

What Are CFDs?

Contracts for difference (CFDs) are derivatives that speculate on the underlying asset’s price without physical ownership.

For example, a long position on gold would generate profit as the price rises or incur a loss as it falls, all without the need to purchase actual gold bars.

One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

What Can You Trade With Moneta Markets?

My Key Takeaways After Exploring Moneta Markets’ Instruments Offering

Moneta Markets’ instrument offering is wide and diverse. The broker offers plenty of lower-risk securities, such as ETFs and bonds, which can be used to better manage volatility over time. There are also many higher-yield/risk assets for speculative trading. Moneta Markets’ commodities and indices can be traded spot and as futures.

Customer Support

Customer Support Channels

Customer Support Test

When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

I conducted my test on 7 August at around 10:26 a.m. CET via live chat. Before connecting to an agent, I had to provide my personal information: name, account number, and email.

An agent connected within a few seconds. I initially inquired into Moneta Markets’ leverage policy, specifically their maximum leverage on cryptocurrencies. The agent responded right away and provided me with a satisfactory answer. Overall, I found Moneta Markets’ customer support fast and reliable.

Deposit and Withdrawal

Moneta Markets Deposit Methods

Moneta Markets Withdrawal Methods

Account Types and Terms

Moneta Markets Account Opening Process

To open an account with Moneta Markets, follow these simple steps:

1. Click ‘Sign Up’ from the top banner.
2. Enter your personal details.
3. State your residential address.
4. Provide your employment and financial details.
5. State your trading knowledge and experience.
6. Choose a trading platform and account type.
7. Upload proof of ID and proof of address to verify your account.

Research Tools

I have listed some of the more important types of research content available with Moneta Markets:

• Economic calendar. The economic calendar informs traders of upcoming economic releases, monetary policy decisions, and other events that can cause significant market volatility. Typically, such events create viable trading opportunities.
• Actionable trading ideas. Incorporated from Trading Central, these signals inform traders of currently unfolding trading setups. Each signal contains information, such as what is a viable entry-level, where to place a protective stop-loss order, a take profit order, etc.
• Market buzz. The market buzz is another feature incorporated from Trading Central. It informs traders of the underlying market sentiment: the proportion of buyers to sellers across multiple timeframes.
• Market breakdowns. Developed in-house, Moneta Markets’ breakdowns are available in video (on the broker’s YouTube channel) and text format (on the broker’s website). They are highly detailed and easy to assimilate.

My Key Takeaways After Exploring Moneta Markets’ Research Content

The combination of materials developed in-house and incorporated from third-party providers presents the reader with a multifaceted overview of current market developments. This diversity caters to the needs of different traders – from intraday speculative traders to longer-term position traders.

Education

Educational Tools

Moneta Markets has published over 200 videos on its YouTube channel, covering a wide range of trading topics, including platform tutorials. These videos are available in English, French, Portuguese, Chinese, and Korean. Additionally, the broker has published several dozen written articles on its website.

The Bottom Line

Moneta Markets is a forex and CFD broker founded in 2019 and headquartered in Dubai. It provides access to over 1000 tradable instruments, diverse accounts, and competitive prices.

Among Moneta Markets’ greatest advantages is its extensive research content. The broker incorporates advanced charting from TradingView and actionable trading ideas from Trading Central. It also provides free VPS hosting for low-latency trading.

In terms of Moneta Markets’ disadvantages, I recorded its execution speed above the industry benchmark of 100 milliseconds. Additionally, I discovered some minor transparency issues.

In summary, Moneta Markets is a great choice for automated traders, scalpers, and chart artists due to the broker’s advanced platforms and VPS hosting. The broker is also suitable for beginner traders thanks to its accessible accounts and penetrating educational materials.

FAQ