General
Features
Pros
- Start trading live with just $200 minimum deposit.
- Powerful WebTrader and AppTrader platforms.
- Start trading live in just minutes.
- Trading tools and educational resources.
- Wide range of Share CFDs offered.
Cons
- No MT4 or MT4 support
Moneta Markets Review
Review Sections:
Moneta Markets is a Forex/CFD brokerage which has not yet accrued significant direct user feedback. It is a member of the Vantage International Group, together with other online trading destinations such as VantageFX and VTMarkets. Many of these other group members have less-than-savory reputations among the trading public.
The user complaints about the services of various Vantage International Group members include:
- Problems with customer service.
- Random prices, market-making.
- Problems with deposits and withdrawals.
- Questionable promotional activities.
We do know that Moneta Markets is not a dealing desk broker. Also bear in mind that none of the mentioned problems concern it directly. Thus far, not many traders have voiced their opinions about Moneta.
The brokerage touts several selling angles.
- Its minimum deposit is just $200.
- For that money, traders gain access to a unique, proprietary, web-based trading platform, and more than 300 tradable markets.
- Those who traded with Moneta Markets have thus far liked the platform.
- The broker offers a Demo account option, through which traders can swing into action within 30 seconds.
- It is similarly fast and easy to open a real money account with the broker.
As mentioned, the corporate entity behind the Moneta Markets brand is Vantage International Group.
The group has currently more than 70,000 client accounts and it operates more than 1.5 million trades every month. That translates to over $100 million in traded volume per month. The VIG has been involved in the online trading industry for more than 10 years.
The primary regulatory entity behind the VIG is CIMA, the Cayman Islands Monetary Authority. The CIMA registration number of the brokerage is 1383491. The local headquarters of the operation are located at Artemis House, 67 Fort St, PO Box 2775, Grand Cayman KY1-1111.
Handling the licensing/regulatory oversight of some 18 brokerages, CIMA is not the most prestigious regulatory body in the world.
Moneta Markets has a few other aces up its sleeves, however.
In addition to CIMA, it is also licensed and regulated by the Australian Securities and Investments Commission. Its AFSL number is 428901. The corporate entity backing the Australian branch of the operation is Vantage Global Prime Pty Ltd.
Furthermore, VIG is also the possessor of a UK license. Vantage Global Prime LLP has an FCA license. The FRN number of this license is 590299.
It is thus clear that Moneta Markets is a well-regulated operation. Its UK license may also mean that it is MiFID compliant.
Accordingly, the brokerage can legally peddle its deals in scores of countries all over the world. It does not accept traders from the US, Japan, and North Korea. Moneta Markets accepts traders from the EEA, except for Belgium and France.
Why would you want to join Moneta Markets instead of one of its competitors? In addition to the aforementioned selling points, the broker also offers:
- Maximum leverage of 500:1, allowing traders to maximize their profits.
- Low trading costs, good trading conditions.
- No commissions on deposits.
- Negative balance protection.
- Multi-lingual support.
Platform and Tools
| Feature | Moneta Markets |
|---|---|
| Virtual Trading(Demo) | |
| Desktop Platform (Windows) | |
| Desktop Platform (Mac) | |
| Web Platform | |
| Social Trading / Copy Trading | |
| Proprietary | |
| MetaTrader 4 (MT4) | |
| MetaTrader 5 (MT5) | |
| cTrader | |
| Currenex | |
| ZuluTrade | |
| MirrorTrader | |
| Charting - Drawing Tools(Total) | |
| Charting - Indicators / Studies (Total) | |
| Watchlists | |
| Order Type - Trailing Stop |
Interestingly, Moneta Markets have chosen to go the way of the proprietary trading platform. As such, the broker does not support MT4, MT5, cTrader, or any of the mainstream trading platforms.
Its Web Trader is powerful enough, however, to handle everything a trader may want from it. The platform supports a Demo account that gives traders EUR 25,000 in virtual funds to put the capabilities of the platform to the test.
From a visual point of view, the Moneta Markets trading platform is great. It is easy on the eyes and it has all its functions displayed clearly. Some proprietary trading platforms make it difficult for traders to locate technical indicators and drawing tools. Moneta Markets is not one of these platforms.
Moneta Markets’ Web Trader offers great charting. It features an indicator wizard that lends traders the ability to add one of the tens of supported indicators, within a few clicks. There is an option to pop the chart out into a full-screen view. The platform supports nine time frames for charting, from one minute to a month. Six different chart types are also available. The drawing tools are clearly displayed on the left-hand side of the chart.
Traders can view their pending orders list, trading history, and open trades at the bottom of the screen. All these lists offer a plethora of information on the selected positions.
For every supported asset, the Web Trader features an information panel, where it lists all the information pertaining to the trading conditions of that asset. It lists the spread, the spread type, the lot value, the maximum leverage, the min-max volume, the volume step, and various other relevant bits of data.
On the right side of the chart, just under the Buy/Sell options, the platform features a trader sentiment indicator. This bit of artifice offers vital information that may sway the trader one way or the other, before opening a position.
The platform displays the tradable asset selection on the left-hand side of the chart.
While the Moneta Markets Web Trader is a powerful platform indeed, it does have a few shortcomings, mostly stemming from its proprietary nature.
It does not support automated trading, watch lists, and trading tools such as ZuluTrade, or MirrorTrader. It does, however, support trailing stops. The Moneta Markets trading platform is available in mobile versions as well.
Asset Classes
Moneta Markets supports five asset classes:
- Forex.
- Cryptocurrencies.
- Commodities.
- Share CFDs.
- Indices.
As far as the Forex selection goes, the broker offers scores of major and minor pairs. If you are looking to trade exotics, however, Moneta is probably not the right place for you.
The cryptocurrencies lot contains five entries. Every one of them is a crypto/USD pair. BTC, LTC, BCH, ETH, DSH, and XRP are supported.
The supported commodities are gold, silver, oil, gas, cocoa, coffee, cotton, sugar, and copper. Interestingly, besides XAU/USD, XAU/AUD is also available.
Traders can juggle more than 100 share CFDs at Moneta Markets. These financial derivatives cover most of the important corners of the global economy.
The same goes for indices. The broker currently offers 14 such assets.
Commissions and Fees
As mentioned, Moneta Markets do not charge a commission on withdrawals. According to the information file they sent us, the maximum leverage they offer is 500:1. The spreads are floating and the EUR/USD spread is in the 0.8 pips range.
The broker does not charge any additional fees for inactivity. It does, however, charge standard fees for rollover.
Research and Education
| Feature | Moneta Markets |
|---|---|
| Daily Market Commentary | |
| Forex News | |
| AutoChartist | |
| Trading Central (Recognia) | |
| Delkos Research | |
| Acuity Trading | |
| Social Sentiment - Currency Pairs | |
| Client Webinars | |
| Client Webinars (Archived) | |
| Videos - Beginner Trading Videos | |
| Economic Calendar | |
| Calendar Includes Forexcasts | |
| Economic News Sentiment | |
| Trade Ideas - Backtesting |
The education section of the official Moneta Markets website is not a centerpiece. The information it offers, however, is useful and well-structured. The main element of the education section is the Market Masters Course. Users have to unlock this course to gain full access to it. To do that, they have to open a real money account and deposit at least $500. They then need to choose the Market Masters option in the trading tools menu of their Moneta platform. Then, they need to agree to the terms and conditions.
The Market Masters Course offers:
- Details on technical analysis, such as chart patterns, candlestick patterns, and Fibonacci techniques.
- An introduction to the stock market followed by an advanced course.
- Market-timing techniques and trend trading.
- Advanced strategies and tools.
- A pro day trader course.
- An advanced cryptocurrency trading guide.
The Moneta Markets education section is generous enough to offer several free courses and guides. Interestingly, within this section, the broker features an MT4 guide, which is peculiar, considering that Moneta does not even support the platform.
Customer Service
Traders can contact Moneta’s award-winning customer service through email, phone, and live chat. Of these, the live chat option is the quickest and the handiest.
The support email address is support@monetamarkets.com. The phone number is 1300 945 517.
Mobile
| Feature | Moneta Markets |
|---|---|
| Android App | |
| Apple App | |
| Charting - Draw Trend Lines | |
| Charting - Can Turn Horizontally | |
| Charting - Technical Studies/Indicators | |
| Watchlist - Syncing | |
| Trading - Forex CFDs | |
| Trading - CFDs | |
| Alerts - Basic Fields |
As mentioned, the Moneta Web Trader is available in mobile app forms. The Android version of the app only boasts a little over 100 downloads so far. The mobile app supports charting. It does not sync watch lists.
We could not find the App Store version of the Moneta app.
Conclusion
Moneta Markets is an online trading destination with some solid selling points. Its reputation is neutral for now. The fact that it is part of the Vantage International Group is not necessarily an asset, given the reputation of the latter.
The Moneta Markets Web Trader is solid, but it cannot match the capabilities of MT4.