Moneta Markets Broker Review: Pros and Cons

Officially founded in 2020, the Moneta Markets broker is a relatively new player in the forex brokerage industry. It has however attracted massive attention even in such a short period. This article offers a detailed review of  the Moneta Markets broker. 

We will have an overview of the broker’s features, regulation, trading platforms, and particularly highlight its pros and cons. This will help you in deciding if this broker is the right choice for your trading needs.

Overview of the Moneta Markets Broker

The Moneta Markets broker was initially launched in 2018 as a subsidiary of Vantage International Group Limited and subsequently became a standalone operator. 

Despite being a newcomer, the broker has quickly gained good attention as a result of its comprehensive trading offerings, innovative trading platforms, and focus on customer experience. The broker offers a variety of financial instruments, such as forex, cryptocurrencies, commodities, indices, and share CFDs, catering to both beginner and experienced traders.

 Moneta Markets provides retail traders with significant access to some of the deepest liquidity pools available in retail finance. This they do by routing orders through the oneZero ecosystem, which includes some of the largest banks and settlement institutions worldwide, including Goldman Sachs, UBS, Cboe Global Markets, Currenex, and Wells Fargo.

Let us now highlight some of the pros and cons of this broker.

Pros of the Moneta Markets Broker

Some of the pros of this broker includes the following:

Variety of Trading Instruments

The Moneta Markets broker offers access to over 300 trading instruments across a wide variety of asset classes. This positions the broker as ideal for traders who wish to diversify their portfolios. For forex traders, it offers currency pairs which include both major and minor pairs. It equally offers cryptocurrency CFDs such as Bitcoin, Ethereum, and Litecoin. Additionally, it also offers CFDs on global indices including S&P 500, Dow Jones, FTSE 100, as well as on a variety of global stocks and ETFs. Commodity traders are not left out as the broker also offers CFDs on a range of commodities, including gold, silver, oil, and agricultural products.  

Competitive Fees Structure 

Its competitive fees structure is one feature that stands the broker out despite being new. Spreads on its Prime ECN and Ultra ECN accounts can be as low as 0.0 pips, while spreads on its Standard STP accounts  ranges from 1.2 pips, which is in line with industry averages. This has made the Moneta Markets broker highly competitive for traders looking for tight pricing. The broker charges a commission of $3 per lot side on prime ECN, and $2 per lot side on Ultra ECN. Furthermore, the broker does not charge deposit fees, but however, applies minimal withdrawal fees.

Trading Platforms

In addition to the popular MT4 (MetaTrader4) and MT5 (MetaTrader5) platforms which are currently considered the best in the industry, the broker also offers a proprietary trading platform. This is known as  Moneta Markets WebTrader. platform is a browser-based solution having a user-friendly interface with essential trading features. It is suitable for both day traders and longer-term investors given its real-time charting tools, technical indicators, and  comprehensive economic calendar. It also provides a range of risk management tools, such as stop-loss orders and take-profit levels. Additionally, the platform has a ‘Market Buzz’ tool which provides real-time market news and sentiment analysis, helping traders stay informed about key market events and trends.

Regulation and Security

The regulatory framework  under which the broker operates is the Financial Sector Conduct Authority (FSCA). Although the FSCA is not as popular as some of the top-tier regulators like the Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC), Moneta Markets still adheres to industry-standard security measures. The broker offers negative balance protection, segregated accounts for client funds, and SSL encryption to safeguard sensitive data.

Educational Resources and Tools

Moneta Markets provides a variety of educational resources that can help traders improve their trading skills. These resources include webinars, video tutorials, trading guides, and market analysis. The broker also offers an economic calendar and news updates directly on the platform, helping traders stay informed of market events that could impact their trades. These educational contents are well-organized and easy for beginners to access for learning.

Cons of the Moneta Markets Broker

Below are some of the cons of the broker:

Charges Inactivity Fees 

Moneta Markets charges an inactivity fee for accounts that have been dormant. This can be a major drawback for occasional traders who do not actively trade on a regular basis.

Limited Customer Support on Weekends

Customer support provided by the broker is only available 24/5. This can be really challenging for traders who need assistance during the weekend or non trading hours. This can be even more  challenging for those trading cryptocurrencies, who may need 24/7 support.

Low Tier Regulation 

The Moneta Markets broker is regulated by the Financial Sector Conduct Authority (FSCA). This commission is considered less stringent, especially when compared to other top-tier regulators like the Financial Conduct Authority (FCA) or the Australian Securities and Investments Commission (ASIC). This may be a drawback for some traders who prefer brokers with more robust regulatory oversight.

Limited Asset Classes on the Proprietary Platform

Although the WebTrader platform provided by the broker is innovative, it however lacks the customization and advanced features of MT4 and MT5. Consequently, for more complex strategies, the experienced traders might prefer sticking with the MetaTrader platforms.

Frequently Asked Questions

Where is Moneta Markets based?

• Moneta Markets has registered offices in both South Africa and Hong Kong. However, its regional coverage and operations are limited due to its low tier regulation.

 Which assets and instruments can be traded with Moneta Markets?

• The broker offers a wide variety of financial instruments for trading. These include forex, cryptocurrencies, commodities, indices, and share CFDs.

Is Moneta Markets regulated?

• Yes, the broker is regulated. The regulatory framework  under which the broker operates is the Financial Sector Conduct Authority (FSCA)

How long does withdrawal take on Moneta Markets? 

• Withdrawals can be processed within 24 hours depending on the method of withdrawal chosen.