Moneta Markets review: Should you sign up? – Test for traders

Choosing an online broker out of the countless companies on the internet can be tough. A great way to ease the process is by first setting a trading goal and searching for the company whose services can help you achieve this goal.

Many, especially new investors, love to thoroughly research an asset before delving into trade in the market. A broker offering rich research and educational materials, alongside great trading conditions, is ideal for these.

In this review, we introduce one such broker – Moneta Markets. We provide comprehensive details about the broker’s trading conditions and general services. By reading, you can find out if the broker’s services fit your needs.

What is Moneta Markets? – Quick facts about the company

Moneta Markets is a subsidiary of Vantage International Group Ltd, which has existed since 2009. Moneta Markets is a brand created in 2020 to provide online CFD and forex trading. It offers similar conditions as the broker Vantage Markets. 

Moneta Markets is a brand name registered under Moneta LLC, registered in St. Vincent and the Grenadines. The broker is regulated in top-tier regions like Australia, the United Kingdom, and South Africa and operates more than 70000+ active accounts.

Trades worth over 100 million+ are conducted on its platforms every month. The broker has received several awards, including the 2021 Users choice award and the award for Best forex broker for beginners and professionals.

Moneta Markets quick facts:

• Created in 2020
• A subsidiary of Vantage Group, a globally acclaimed broker
• Regulated in Australia, Europe, South Africa, and Saint Vincent and Grenadines 
• Over $100 million+ volume per month
• 70000+ active customers
• Multiple award winner

Regulation: Is Moneta Markets regulated?

As mentioned, Moneta Markets is a child broker of Vantage Group, an Australian-based global brokerage company licensed by the Australia Securities and Exchange Commission ASIC and Cyprus Securities and Exchange Commission CySEC. 

Moneta Markets is a brand name registered under Moneta LLC in St. Vincent and the Grenadines. The broker operates under a license from St. Vincent and the Grenadines Financial Service Authority (SVGFSA).

Moneta Markets South Africa Ltd also operates with a license from the Financial Sector Conduct Authority of South Africa FSCA. 

Regulatory bodies have strict requirements to which their licensed companies must adhere.

Examples of regulators’ policies include:

1. Segregation of customers’ funds for safety purposes
2. Insurance compensation schemes membership
3. Frequent training for staff and representatives 
4. Risk regulations on brokers’ platforms
5. Specific auditing process

Regulatory entities set these and more regulations to ensure transparent business operations and customer protection.

Moneta Markets regulations summary:

• St. Vincent and the Grenadines Financial Service Authority SVGFSA # 2052
• Financial Sector Conduct Authority FSCA, license # 47490
• ASIC AFSL, license # 428901 under Vantage Group

Security measures for traders and your money

Moneta Markets is a brand of Vantage Group, a renowned global financial institution with several licenses in top-tier regions. The brokerage brand – Moneta Markets is also separately regulated by several authorities, including South Africa’s FSCA and St. Vincent and the Grenadines’ FSA.

These regulations require strict compliance with fair business practices. Customers’ funds are stored in one of Australia’s top Custodian banks, which is among the twenty safest banks in the world.

The broker also has indemnity insurance that covers customers’ loss if it results from its employees’ or representatives’ work.

These safety precautions are in place to ensure customers trade with peace of mind. Data protection is also guaranteed as part of client-focused services and compliance with regulations.

Review of the offers and Moneta Markets trading conditions

As a newly created online broker brand, Moneta Markets offer a comparably limited asset selection. However, their product range keeps expanding. Moneta Markets recently added some instruments to its product selection, bringing the list to over 900+ tradeable symbols.

Customers can trade these markets through five asset classes: forex, commodities, shares CFDs, and indices. We provide an overview of each category below:

Foreign exchange 

Customers can access 45 forex pairs on Moneta Markets platforms. These crosses include major, minor, and exotic forex pairs. A minimum deposit of $50 is required to trade the forex market on its platforms.

Apart from all the majors, expect currency pairs like EURNZD, GBPJPY, USDCHN, USDZAR, and other liquid minors and exotics. These instruments can be traded on all platforms that the broker offers. 

Maximum leverage is 500:1, and the spreads depend on the account type. Expect average spreads of 0.36 pips and 2.10 pips on major crosses on ECN and STP accounts, respectively. Commissions will apply if you use an ECN account.

Forex pairs:	33+
Leverage:	Up to 1:500
Spreads:	From 0.0 pips (depending on account type)
Execution:	Instant
Availability:	During trading hours

Shares CFDs

Shares trading allows investors to profit from dividends and price rise or fall. CFDs let you earn from shares trading through price speculation and dividend. Markets’ lists of shares CFDs are expanding, with over 635+ popular companies’ shares now available to trade.

Traders have options between top global stock exchanges, including the USA, the UK, and Europe. Or you can trade companies’ shares from all the exchanges and grow your portfolio. 

Expect shares from global companies like Google, Unilever, Apple, Heineken, Vodafone, Renault, Shell, and many more. Shares CFDs are accessible on all the broker’s platforms. Leverage up to 20:1 is provided, and the spreads depend on the asset traded.

Share CFDs:	33+
Leverage:	Up to 1:20
Spreads:	From 0.0 pips (depending on account type)
Execution:	Instant
Availability:	During trading hours

Commodities

Moneta Markets offer 15 of the most commonly traded hard and soft commodities. This category contains energy, soft commodities, and precious metals. 

The specific product selection in this asset class includes gold, silver, gasoline, natural gas, orange juice, and sugar, among others. Swap fees are not charged on gold. Leverage up to 333:1 is offered.

Commodities:	15+
Leverage:	Up to 1:333
Spreads:	From 0.0 pips (depending on account type)
Execution:	Instant
Availability:	During trading hours

Exchange Traded Funds ETFs

ETFs let you trade one product that contains a bunch of market instruments. They are a magnificent way to diversify investments and allow lower-risk trading. Customers will find more than 50+ commonly traded ETFs on Moneta Markets MT5 and ProTrader.

Popular markets like S&P500, Vanguard, iShares, and others, including crypto and bond ETFs are available. The broker provides these assets on its commission-based account at reduced spreads.

ETFs:	50+
Leverage:	1:1
Spreads:	From 0.0 pips (depending on account type)
Execution:	Instant
Availability:	During trading hours

 

Indices

Indices allow investors to trade a single product with varieties of stocks within it. Many traders use these financial vehicles to focus their investment on a specific sector or industry, such as finance, tech, health, etc. 

Customers can access 15 commonly traded global indices with Moneta Markets. Examples of the listed products are the popular S&P500, Dow Jones 30, FTSE, Hang Seng, Nasdaq 100, and others. The broker offers these assets through CFDs. You can trade at high leverage up to 500:1. Indices Trading is offered on the broker’s MT4 and ProTrader platforms.

Indices:	33+
Leverage:	Up to 1:500
Spreads:	From 0.0 pips (depending on account type)
Execution:	Instant
Availability:	During trading hours

Trading fees – How much does it cost to trade with Moneta Markets?

Moneta Markets use the two common fee structures in the industry: commission-based and commission-free. Customers can choose how they wish to get billed by using the platforms and account types with their preferred fee structure. 

The STP account type is a variable spreads no-commission account with a minimum spread of 1.20 – 1.40 pips on forex majors. The average rises to 1.36 pips and 1.76 pips during normal market hours. These spreads were recorded in August 2022 and apply to the most liquid forex major crosses. 

Spreads are much tighter on the ECN account and can sometimes drop to 0.10 pips for a forex cross, such as EURUSD. The average spread pips move up to 0.26 and 0.56 pips for other majors. A commission fee of $6 per round turn trade of 100000 units is charged. This falls within the market average.

Trading fees on other assets differ. Some are much higher than others. For example, commission on Europe shares CFDs costs $13 per order or 0.1% of the share’s stated value. Whereas US shares CFDs cost $6 per order.

Swap fees accrue if you leave trades open overnight. These charges are not fixed and depend on the asset. Trading gold attracts zero swap charges.

Fee:	Information:
Swap fees for overnight open trades:	Depend on the asset. From $0 with the swap-free account.
Administration fees:	Daily administration fee charged for swap-free accounts, instead of fees for overnight trades.
Account fees:	No account fees.
Inactivity fee:	No inactivity fees.
Deposit fee:	No deposit fees.
Withdrawal fee:	No withdrawal fees, except for International bank wire transfers. The most common withdrawal methods have no fees.

Test of the Moneta Markets trading platforms

Moneta Markets platforms offer customers access to the Electronic Communications Network, where they enjoy super-tight spreads. This trade execution is a non-dealing desk type that transmits orders through various liquidity providers. Transactions are matched with the best prices, resulting in lower spreads. STP trading is also offered, and these services are provided:

1. ProTrader
2. Meta trader 4
3. Meta trader 5

ProTrader by TradingView

ProTrader is Moneta Markets’ proprietary web platform developed by Panda Trading Systems. The Pro Trader offers access to trade all product ranges. TradingView is embedded on this platform, allowing social trading and access to additional indicators.

The platform comes with more than 100+ technical indicators and a selection of drawing tools, including the famous Fibonacci, trendlines, and more. The platform is accessible on mobile devices and computers. The AppTrader is available for download on Apple iOS and Google Play stores.

MetaTrader 4

Moneta Markets MT4 offers the standard features of this popular trading platform. Customers can easily integrate it into the Pro Trader to access any missing on either platform. 

Moneta Markets’ MT4 comes with over 40+ indicators and various other tools, such as Expert Advisors and automated trading support. 

Customers can build their own indicators and customize EAs. All the asset classes are offered on this platform, and you can trade on an STP or ECN account.

MetaTrader 5

Moneta Markets MT5 is only available for mobile trading but offers all product ranges and allows all account types. Using MT5 on mobile devices means a limited number of technical indicators and tools. But the market depth on the broker’s MT5 is more advanced than the MT4, and you can integrate it with the ProTrader for web access. The meta trader apps are downloadable on Apple iOS and Google Android. 

Indicators & charting availability on Moneta Markets

More than 48+ technical indicators are provided on the Pro Trader and meta trader platforms. But you can access over a hundred through TradingView. Ten drawing tools and six chart types effectively allow you to search for market trends. 

We noticed a few limitations in the trading tools. There are only nine timeframes, which is relatively low. The watchlist has just four columns, and the news headlines feature is not offered. Advanced risk management features, such as trailing stops, are also missing.

However, traders have access to Market Buzz through Trading Central. The economic calendar is also viewable, keeping users updated on important market information.

Mobile trading via the Moneta Markets app

Mobile trading with Moneta Markets is available through the AppTrader and MetaTrader platforms. These apps are available for Apple and Android smartphones or tabs.

The mobile apps offer no special features but allow customers to place and manage trades and control their accounts when they’re away from a bigger screen.

A few important web platform features are missing from the mobile. There are fewer indicators, though the broker has added up to 20 drawing tools. The watchlists are also not synchronizable. 

However, there are three chart types, which are replicas of the web platforms, and all assets are offered on mobile.

Moneta Markets mobile trading summary:

1. Place and manage trades on the go
2. 20 drawing tools included
3. All asset classes are available 
4. Beginner-friendly trading apps

How to trade on the platform (Tutorial)

There are 900+ tradeable instruments on Moneta Markets platforms. The basic rules for trading in the financial markets are the same. However, the elements affecting each asset’s price movements and respective markets vary greatly. 

For this reason, you should not enter into online trading before deciding what would make up your portfolio. The first step to trading is choosing a market(s). Whether forex, indices, metals, etc., your choice should be based on the assets you find most easy to understand. 

The most popular markets are the most liquid and profitable. They also have much information available and accessible. These markets include forex majors, stocks, and commodities. Many experienced traders built their portfolios from here.

Once you choose a profitable and easily-understandable asset(s), the next thing is to study its market. Find out the elements that influence price movements and study past trends. Online trading is about predicting price moves. Learning about your preferred market helps you make the best predictions and trade successfully. 

After learning trading basics about your chosen asset, log in and trade on your brokerage account. Though we always recommend demo practice first. Once you log in, scroll through the quote lists to find your desired instrument. If not on the list, click the Add tab to find and add it. Then select the instrument and click on New Order. Type the transaction information, such as lot size or amount. Set your stop loss and place the trade.

How to trade Forex on Moneta Markets

The foreign exchange market is the most popularly traded and common investment avenue for beginners. The opportunities in this market are bounteous, and forex trading is among the easiest way to get into online trading.

Hundreds of currency pairs are available, out of which Moneta Markets offer 45+ of the most liquid ones. As mentioned, trading all the markets follows the same basic rules. So the first step in trading forex is to decide on a currency pair(s).

The major pairs, containing major currencies from first-world nations, are more popular and liquid. The minor and exotics also offer great profit opportunities but attract higher spreads. For this reason, many new investors always stick to the major ones in the beginning. Later, they add other pairs to access more opportunities. 

Once you have decided on the pair(s), follow these steps to start trading forex:

1. Market education and research

Seek information about the currencies you wish to trade. Fortunately, there are bountiful resources online about forex, and Moneta Markets also offer rich educational materials to help you get started. Foreign exchange rates depend on employment rates, interest rates, trade deficits, and other economic factors. Price movements rely on the economy backing the currencies. Staying informed on economic news will help you properly analyze the market.

2. Set your trading goals

Trading goals include your target and how you plan to achieve it. That means finding and adopting an effective trading strategy for your chosen pairs. Risk management should also be included in the goal. Decide the points at which you should abandon a trade if it starts to go south. And the profit level on which you would close each trade.

3. Practice using a free demo

After setting your goals and creating a plan, practice all you have planned and learned on a demo. A demo account is a virtual trading environment that allows users to test and practice trading with zero financial risk. The account is a copy of a live one and presents real market conditions and scenarios. Hence, ensure your strategies produce profitable outcomes here before using them in a live environment. 

4. Log in and trade forex on a live account

Once you have gained some knowledge, confidence, and skills on the demo, move your trading to a live account. On your account dashboard, click on quotes to display all the listed instruments. Scroll through to find your desired forex pairs. Click and select New order. Enter the transaction details. Set your limit orders, such as stop loss. Review the order details and place the trade.

How to trade stocks/shares on Moneta Markets

Stocks are among the most commonly traded asset class in the financial markets. People can own a portion of a company by buying its shares. It enables profit-making when the company declares a dividend, and the investor can also resell once the share rises in value.

However, this is only one way of investing in a company’s shares or trading its stocks. A less risky way is to trade through CFDs. With this method, you can still earn dividends with some companies. But you would not own the asset. Instead, you would be betting on the rise or fall of the shares’ value.

Trading CFDs on shares or stocks first requires learning about the market operations. Certain things affect stock prices and stock markets.

These include: 

1. Global economy
2. A country’s economic state
3. The industry’s health
4. The company’s acceptance rate
5. The company’s financial strength and market performance 

Key information on each element affecting stock prices will help you determine what companies or industries to invest in. Hence education and research should precede choosing a market instrument. 

On Moneta Markets’ platforms, you can play several global stock markets. You will access Europe, the United Kingdom, and the United States economies. Top companies are available from which you can choose. 

After that, study some proven stock trading strategies and test them on a demo to see if they work for you. Adopt the ones you are comfortable with, try devising your own, and build an effective trading plan. Practice a few more times until you gain some level of confidence. Then move trading to a live account.

Once signed in to your account, click on the asset tab and select shares. Then add your desired companies’ stock symbols to the quote list to trade them. On the quote list, click the stock symbol, and select New order. Fill out the trade details applying your strategy and plans. Enter your limit orders, review the details, and place the trade.

How to open your trading account

The account setup process with Moneta Markets is effortless.

It requires filling out three simple forms containing:

1. Personal details
2. Verification details
3. Account profile configuration 

On the broker’s website homepage, you will find the Sign-Up tab at the top center, highlighted in red.

Click on this button to begin the process. The first page will require your full name, country of residence, email, phone, and account type (individual or corporate account). You can also sign up using your Facebook, Gmail, or LinkedIn account. Clicking on one of these icons causes the page to auto-retrieve and fill out your personal details in the appropriate columns.

The next page will present columns for you to enter your ID card number and house address. Ensure the details you provide are consistent with the ones on the documents you upload later. The broker will confirm this eventually. 

You will also fill out some columns stating your trading experience, source of funds, and financial status. After this comes the account configuration, where you select your preferred platform, account type, and account currency. Up to ten base currencies are available to choose. Apart from the top three major currencies, you can set your account currency to the Australian dollar, Japanese yen, Canada, Hong Kong, Singapore, and New Zealand dollar, and Brazilian real.

After filling in these parts, tick on the agreement box to show that you have read, understood, and accept the broker’s terms. Then click next to proceed. The broker will need you to authenticate your email. Doing this requires opening the link the system sends you during the registration. 

At this point, the account setup is 95% complete. Uploading the verification documents will conclude the registration process. The broker will then activate your trading account.

Account types of Moneta Markets

Moneta Markets offers two account options. The two allow customers to choose according to their preferred execution style and fee structure.

They are:

1. Direct STP
2. Prime ECN 

Direct STP

The direct STP account is a no-commission type that uses STP execution methods. The minimum deposit is $50. The account works on the ProTrader and meta trader 4. All the product ranges are tradeable on the direct STP account, and leverage of up to 500:1 is allowed. 

The broker posts a minimum spread of 1.20 pips on this account. Though this only applies to forex EURUSD trading. Expect an average of 1.56 pips during peak hours, a fairly reasonable spread since commission does not apply in this account. 

The account supports hedging, and the Islamic account variant is offered. The broker recommends this account to beginners or new investors.

Prime ECN 

The Prime ECN, as the name implies, uses ECN execution. The account is commission-based and requires a $200 minimum deposit to use. The account runs on the ProTrader and MT4. You can trade on the AppTrader, through which you can integrate the MT4 and MT5. 

You can access all the products on this account and leverage up to 500:1. The minimum spread is 0.0 pip on major forex crosses, and a $3 commission applies per side for a standard lot. The account is recommended to experienced traders who do scalping and use EAs. Hedging is also allowed, and an Islamic account version is provided.

Can you use a demo account on Moneta Markets?

Yes. Moneta Markets offer a free demo account. The set-up takes less than 2 minutes and gives you access to a virtual account with credit up to $50000. This means you can practice trading as much as possible. As mentioned earlier, the account should ideally be used during your self-education and research stage. Trade on it while learning about the market and studying strategies. 

How to login into your Moneta Markets trading account

Customers can trade on the web-based platforms or the app. Logging into the account is simple. If you are using the web, click the Login tab on the broker’s website. It is highlighted in green at the top of the homepage.

The Login box appears, showing two columns for email and password. Type each information in the appropriate fields and click on login to launch the account. 

If you are using the app, once you launch the app, the login box will be on the main page. Type your trading account email and password and click login.

If you have issues logging in, the live chat is usually visible on the lower right of the page. You can reach support via the live chat icon. Or click Forgot password below the Login button if it is a password issue.

Verification: What do you need, and how long does it take?

Moneta Markets require proof of identity and residence to complete your account set-up.

The accepted documents to prove identity is one of these:

• A government issued identity card
• International passport
• Driver’s license. 

While the acceptable document for proof of address is one of the following:

• A bank or card statement containing your address
• A utility receipt, such as electricity, gas, or water bills. 

These documents must be valid.

That means they must meet these criteria:

• The ID must be a current one, not an expired one.
• The proof of address must be recent, not older than six months.
• The bills must carry your full name and the address you provided during registration. (Online print outs of bills or account statements are not acceptable.)

Once you have gathered these documents, take a clear, colored snapshot or scan them. Then send the images to [email protected]. 

The broker usually confirms identity within 24 hours, which sometimes takes two days. Once the verification is complete, the broker will notify you via email.

Available payment methods for deposit and withdrawals

Moneta Markets provide several payment options for easy deposits and withdrawals.

These payment methods include:

1. Mastercard
2. Visa
3. Bank wire
4. JCB
5. SticPay
6. FasaPay

These payment methods are all instant settlements for deposits, except the bank wire option. That can take two to five days for funds to reach your account. 

The broker does not charge any fees, but the payment service providers or banks may take a small amount for transfers. 

How to deposit money – The minimum deposit explained

Login to your client area to fund your account. 

1. On the dashboard, click on Funds and select Deposit among the options.
2. Choose the payment method, e.g., Visa, SticPay, and so forth.
3. Enter the account details for the payment method chosen.  
4. Confirm the details you have given and authorize the transfer.
5. Click on OK.

The funds should reflect in your trading wallet within minutes if you use any payment options listed above, except bank wire.

Moneta Markets’ minimum deposit is $50 for the Direct STP account and $200 for the ECN account. Therefore, your initial transfer must be this amount or higher, depending on your choice.

If there is a deduction and the money does not appear in full, it means the payment company has deducted its fees from the amount you sent. 

Although they usually notify the customer during the transfer, Moneta Markets sometimes refunds these deposit fees. You can contact them to learn more about this.

Deposit bonuses on Moneta Markets

Moneta Markets offers a one-time deposit bonus to newly registered traders. The broker gives a 50% credit bonus to new customers who deposit up to $500 on their first transfer. Other terms and conditions apply to using this free credit.

Other rewards are referral bonuses. There is no ongoing bonus promotion for existing customers.

Withdrawal – How to withdraw your money on Moneta Markets

Similar to depositing funds, withdrawals are also hassle-free as long as you have verified your address.

1. Login to your client area and click on Funds on the dashboard. 
2. Select Withdraw funds from the drop-down options.
3. Choose your preferred payment methods, e.g., Mastercard, bank wire, FasaPay, or others.
4. Fill out the request form as instructed 
5. Confirm the details and click Submit.

Withdrawals take longer to reach the recipient’s account. Expect to receive the funds within one to three days for all payment methods, except bank wire. Bank wire withdrawals can take up to seven days for funds to settle.

Note that due to financial regulations, you can only withdraw into an account bearing the same name on your trading account. 

Additionally, you can not move funds out of your account till you complete address verification. So ensure you have uploaded the necessary documents.

Customer support for traders who use Moneta Markets

Moneta Markets offer award-winning multi-language customer service through phone, email, and live chat. Technical and customer support is available 24 hours during official market days (Monday – Friday).

You can reach them via email at [email protected] or live chat on their website.

Customers in the UK can reach phone support via +44 (113) 3204819, while those outside the UK can call them at +61 2 8330 1233

Customer care number:	Email support:	Live chat:	Availability:
For customers in the UK: +44 (113) 3204819 For customers outside the UK: +61 2 8330 1233	[email protected]	Yes, available	24 hours a day, from Monday to Friday

Education material – How to learn trading with Moneta Markets 

As mentioned in the beginning, Moneta Markets is one of those companies that offer rich education and research materials. These resources allow customers to research their desired assets before trading comfortably.

Its educational provisions include Moneta TV, which offers daily economic information that affects prices. A WebTV feature is also available, offering real-time news on stock exchanges, such as the NYSE.

There are premium courses for experienced traders and various video tutorials for traders of all levels. One major demerit of its educational content is that most resources are only available to registered customers. Site visitors will not find articles or video resources to study except FAQs.

Additional fees on Moneta Markets

Fortunately, Moneta Markets does not charge extra or non-trading fees. Expect only direct trading costs, such as spreads and commissions explained earlier. 

Available countries and forbidden countries 

Moneta Markets accept customers from almost all parts of the world. Customers from regions such as the USA, where foreign brokers are not allowed to render services, are excluded. Moneta Markets is also not available in regions where the local regulations restrict brokerage services. Such regions include North Korea, Yemen, Iraq, and other restricted countries.

Review conclusion – Moneta Markets is an excellent broker

Moneta Markets is a relatively new brand and is well-regulated. Its product list is still growing, and trading fees stay within the market average. Customers will find useful educational and research materials on its platforms. Its proprietary app allows easy integration with the meta trader platforms.

However, the broker needs to increase its product offerings. Its educational content is limited and inaccessible to site visitors. Mobile trading services offer only very few basic functions. Moneta Markets need to improve in these areas to compete with other industry’s bests.

Frequently asked questions (FAQs) about Moneta Markets: