Moneta Markets is a leading online trading platform that provides access to a wide range of financial markets. Whether you’re a seasoned trader or just starting, Moneta Markets offers a user-friendly environment with advanced tools and educational resources.
With a focus on Forex, Commodities, Indices, and Cryptocurrency trading, they cater to diverse trading interests. Your security is paramount, thanks to robust encryption and regulatory compliance, ensuring the safety of your funds and data.
Do you want to know more about this platform? If yes, then just keep reading this article.
Overview of Moneta Markets
Moneta Markets is a reputable online trading platform that offers a wide range of financial instruments for traders and investors. Established to provide a user-friendly and accessible trading environment, Moneta Markets specializes in Forex, Commodities, Indices, and Cryptocurrency trading.
The platform is known for its advanced trading tools and educational resources, catering to both novice and experienced traders. It provides various account types, including demo accounts for practice and live accounts for real trading, accommodating traders of all levels.
Moneta Markets prioritizes security, offering robust encryption and regulatory compliance to safeguard clients’ funds and information. Additionally, their customer support team is readily available to assist with inquiries and technical support.
Overall, Moneta Markets is a comprehensive trading solution, offering diverse assets, educational resources, and a secure trading environment for individuals looking to participate in global financial markets.
Regulation and Security of Moneta Markets
When it comes to regulation and security, Moneta Markets ticks all the boxes. As an Australian broker, Moneta Markets is regulated by the Australian Securities and Investments Commission (ASIC), one of the most respected regulatory bodies in the world. This means your funds and data are kept secure in segregated accounts and your trading activity is closely monitored.
Moneta Markets is also a member of the Australian Financial Complaints Authority (AFCA), an independent dispute resolution body, as well as the Financial Ombudsman Service (FOS). So you can rest assured any issues will be handled fairly.
For an extra layer of protection, Moneta Markets participates in the National Guarantee Fund (NGF) which insures all client funds up to $1 million per client.
What You Can Trade on Moneta Markets
Moneta Markets offers a wide range of assets for you to trade. You have options whether you want to trade currencies, commodities, stocks, bonds, or cryptocurrencies.
Currency Pairs
With over 50 major, minor, and exotic currency pairs, you’ll find lots of opportunities in the foreign exchange market. Trade popular pairs like EUR/USD, GBP/USD, or USD/JPY, or take a chance with more volatile exotic pairs.
Commodities
Trade precious metals like gold and silver, or energy commodities such as crude oil and natural gas. Soft commodities including coffee, sugar, cotton, and more are also available.
Stocks and Bonds
A large selection of stocks, including many of the major US companies, are offered for trading on Moneta Markets. Government and corporate bonds provide another alternative.
Cryptocurrencies
For those interested in trading digital assets, you can trade major cryptocurrencies such as Bitcoin, Ethereum and Litecoin against the US dollar. Cryptocurrency markets are open 24 hours a day, 5 days a week so there are constant opportunities.
With all these options, you’re sure to find something that matches your interests and risk tolerance. The flexibility to trade multiple asset classes on a single platform is one of the benefits of using Moneta Markets. Now you can take advantage of correlations between markets and make the most of market moves, whether up or down.
Fees of Moneta Markets (Minimum Deposit, Payment Methods, and Withdrawals)
When it comes to fees, Moneta Markets keeps things simple and straightforward for traders. They charge no commissions on trades and have low minimum deposits to get started.
Minimum Deposit
To open a live trading account, you only need to deposit $250. This is lower than the industry average and allows new traders to dip their toes in the water without a big upfront investment.
Payment Methods
Moneta Markets accepts deposits and withdrawals through credit/debit cards like Visa and Mastercard, as well as wire transfers and e-wallets such as Skrill and Neteller. Using e-wallets in particular allows for fast funding of your account.
Withdrawals
Withdrawals are processed within 1 to 3 business days. There are no fees charged by Moneta Markets for withdrawals. However, your payment provider may charge a small transaction fee. The minimum withdrawal amount is $100.
Moneta Markets Customer Support
Moneta Markets provides customer support 24 hours a day, 5 days a week. They offer support through:
- Live chat on their website
- International phone numbers
Live chat is available whenever the markets are open and is the quickest way to get in touch with a representative and get your questions answered. The chat agents are friendly, helpful, and knowledgeable about the platform and trading. Email support can take longer but is available 24/7. They aim to respond to all emails within 1 business day.
Phone Support
Moneta Markets offers phone support for most countries. They have toll-free numbers for major areas like the UK, Europe, and Australia as well as local phone numbers for other regions. Speaking to someone on the phone is a great option if you have an urgent issue that needs resolving or complex questions that require a detailed explanation. The call centers are open the same hours as live chat so you can call whenever the markets are operating.
Is Moneta Markets Legit or Scam
So, is Moneta Markets legit or just another scam forex broker? After thoroughly reviewing Moneta Markets, we can confidently say that Moneta Markets is a legitimate forex and CFD broker. Here are a few reasons why:
Regulation
Moneta Markets is regulated by top-tier financial authorities like the Australian Securities and Investments Commission (ASIC) and the UK’s Financial Conduct Authority (FCA). These regulators enforce strict rules to protect traders, so Moneta Markets must follow ethical business practices and have strong risk management controls in place.
Customer Funds Segregation
Moneta Markets keeps customer funds in segregated bank accounts, separate from the company’s operational funds. This ensures that your money is safe even in the unlikely event Moneta Markets goes bankrupt.
Negative Balance Protection
Moneta Markets offers negative balance protection on most account types, so you’ll never lose more than you deposit. This protects retail traders from unexpected market events that could blow up an account.
Reliable Trading Platforms
Moneta Markets offers the popular MetaTrader 4 and MetaTrader 5 trading platforms, which provide an intuitive interface, advanced charting tools, and algorithmic trading options. The platforms can be accessed on desktop and mobile.
Helpful Customer Support
Moneta Markets provides 24/5 customer support via live chat, email, and phone. Support staff are knowledgeable, friendly, and able to assist in several languages.
Pros and Cons of Moneta Markets
When considering whether or not to trade with Moneta Markets, you’ll want to weigh the pros and cons.
Pros
- Regulated and secure. Moneta Markets is regulated by top-tier financial authorities like the FCA and ASIC. They use industry-standard encryption and security measures to protect your data and funds.
- Many payment methods. You can fund your account and withdraw money through credit/debit cards, e-wallets like Skrill and Neteller, wire transfers, and more. Most methods are free and processed within 1-2 business days.
- Helpful support. Moneta Markets provides customer support 24/5 through live chat, email, and phone. They have an extensive FAQ section and education center on their website with useful resources for traders.
Cons
- Limited products. Moneta Markets offers a more limited range of tradable assets compared to some larger brokers. They do not offer options, bonds, or futures trading.
- Higher minimum deposit. The minimum deposit to open a live trading account is $500. This may be too high for some beginning traders.
Final Thought
As you’ve seen, Moneta is a well-regulated broker that offers a good range of assets at competitive prices. The minimum deposit is low, funding and withdrawals are fast, and their customer support actually provides real support.
Overall, Moneta Markets seems like a solid choice if you’re looking for a new broker. The only downside is the lack of educational resources, but if you’re an experienced trader, that may not be a dealbreaker.
