Recommended for
- forex trading 4.0/5
Trusted broker
Regulated by top-tier financial authorities
Popularity
89
people
chose this broker in the last 6 months
BrokerChooser Score
4.1/5
Moneta Markets review summary
Moneta Markets is a global forex and CFD broker. Moneta Markets has low forex fees and non-trading fees are also very favorable (for example, there is no inactivity fee). Opening an account at Moneta Markets is a very rewarding experience as the process is super fast (less than 5 minutes) and fully digital. The broker also offers a great variety of deposit and withdrawal options, most of which are free of charge. On the negative side, the product portfolio at Moneta Markets is rather limited as the broker only offers forex and some CFDs. Additionally, stock CFD fees are quite high and there is no investor protection provided. BrokerChooser gave Moneta Markets a 4.1/5 rating based on analyzing 500+ criteria and testing via opening a live account.
Is Moneta Markets a legit broker?
See how Moneta Markets is regulated and whether you should have any concerns using it.
Moneta Markets pros and cons
Pros
Cons
- Low forex fees
- Easy and quick account opening
- Seamless deposit and withdrawal
- Limited product selection
- High stock CFD fees
- No investor protection
Moneta Markets main highlights
🗺️ Country of regulation
Vanuatu, but Vantage Group has regulation in Australia, UK, Cayman Islands
💰 Trading fees class
Average
💰 Inactivity fee charged
No
💰 Withdrawal fee amount
$0
💰 Minimum deposit
$50
🕖 Time to open an account
1 day
💳 Deposit with bank card
Available
👛 Depositing with electronic wallet
Available
💱 Number of base currencies supported
9
🎮 Demo account provided
Yes
🛍️ Products offered
Forex, CFD, Crypto
Fees
Moneta Markets has low forex trading fees and non-trading fees. On the other hand, the fees for trading stock CFDs are high.
Account opening
The account opening process at Moneta Markets is fast and fully digital. The brokerage delivers on its promise of a quick sign-up, as opening an account takes less than 5 minutes.
Deposit and withdrawal
Moneta Markets offers a great variety of deposit and withdrawal options. While the first withdrawal by bank transfer each month is free, after that a high $20 fee is charged.
Web trading platform
The Moneta Markets web trading platform is user-friendly with a great search function. However, the customizability is limited.
Mobile trading platform
AvaTradeGo is a modern, easy-to-use app with a decent set of features, including the AvaProtect insurance scheme. However, order types are limited and the app comes only in English.
Desktop trading platform
Moneta Markets offers the MetaTrader desktop trading platform. It is highly customizable, has clear fee reports and price alerts, but lacks a two-step login and the design is outdated.
Markets and products
At Moneta Markets you can only trade forex, CFDs and crypto. Thus many popular asset classes, such as real stocks or ETFs, are not available as products to trade.
Research
The Moneta Markets client portal includes a set of convenient research tools. However, most of the tools are available only to clients with an account balance of at least $500.
Customer service
Moneta Markets offers great customer support with a fast live chat. Emails are typically replied to within 24 hours with relevant answers. However, we missed 24/7 support.
Education
In addition to a demo account, Moneta Markets offers advanced video courses via Market Masters and trading platform tutorials. The only thing we missed was webinars.
Safety
Moneta Markets’s parent company is regulated by several authorities, including the top-tier ASIC, and negative balance protection is provided. However, clients are onboarded under Vanuatu regulation and as a result, no investor protection is provided.
