Moneta Markets review 2024:
All you need to know
In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets. As a leading financial media outlet, our editorial content is driven by rigorous research and data-driven insights, free from external influence. This assessment offers a transparent evaluation of Moneta Markets' conditions, tools, support, regulatory standing, and overall suitability for traders.
Moneta Markets is an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base and experiment with more advanced trading tools and techniques.
Account Conditions
3.7/5
Tools and Resources
3.3/5
Customer Service and Support
4.0/5
Trading Settings
3.3/5
Trust
2.6/5
User Experience
4.6/5
How do we score brokers
A relative newcomer to the forex brokerage industry, Moneta Markets was founded in 2020 under the Vantage Group before converting to a standalone operator in 2022.
Built from the ground up using familiar architecture from other Vantage Group graduates, Moneta Markets gives retail traders significant access to some of the deepest liquidity pools available in retail finance 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.
Moneta Markets uses Equinix cloud services to connect orders at data centers around the globe, providing a fast execution environment with relatively low costs for retail traders. With a wide range of product offerings, deposit options, and swift turnaround times on withdrawal requests, Moneta Markets is a good match for new to intermediate forex traders.
However, Moneta Markets is best suited for South African residents, amongst other regions, who are primarily focused on forex trading. This is due to competitive spreads on forex but higher-than-average spreads and commissions on CFDs and commodity offerings and regulatory restrictions that prevent US, Canadian, Hong Kong, and European Economic Area (EEA) traders from opening accounts.
| 🗺️ Regulated geos/regions |
South Africa, St Lucia |
| ✅ Currencies accepted for deposits/withdrawals |
USD, EUR, GBP, NZD, SGD, JPY, CAD, HKD, BRI, BTC, ETH, USD₮ |
| 💰 Minimum deposit |
Prime ECN & STP: $50 USD (or equivalent)
|
| 🛒 Bonus/promotions |
50% deposit bonus credit |
| 💱 Tradable asset classes |
Forex pairs, Index CFDs, Commodity CFDs, Individual Stock CFDs, Crypto CFDs, ETFs, Bonds |
| 💸 Costs (spreads, fees, commissions) |
Spreads from 1.2 pips on STP accounts.
|
| 💹 Leverage |
Forex: up to 1,000:1
|
| 🏗️ Trading platforms allowed |
ProTrader powered by TradingView
|
| 🗣️ Customer service languages available |
English, Chinese, Arabic, Malay, Korean, French, and Portuguese. |
Moneta Markets Account Conditions Score
Account Conditions
3.7/5
Regulated regions
Moneta Markets is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa under license number 47490. It also has a lower-tier regulation in Saint Lucia under license number 2023-00068.
As a brokerage not regulated by the Commodity Futures Trading Commission (CFTC), Moneta Markets cannot accept clients from the US. Further, Moneta Markets is unable to facilitate trading accounts for residents of the following countries: Afghanistan, American Samoa, Albania, Australia, Belarus, Bermuda, Bosnia And Herzegovina, Bulgaria, Burma, Burundi, Canada, Central African Republic, Crimea, Croatia, Cuba, Cyprus, Democratic Republic of the Congo, Eritrea, Former Federal Republic of Yugoslavia, Guam, Hong Kong, Iran, Iraq, ISIL (Da’esh) & Al-Qaida & The Taliban, Italy, Ivory Coast, Japan, Liberia, Libya, Macedonia, Mali, Montenegro, Myanmar, North Korea, Puerto Rico, Republic of Guinea, Republic of Guinea-Bissau, Romania, Russia, Sierra Leone, Serbia, Sevastopol, Seychelles, Singapore, Slovenia, Somalia, South Sudan, Spain, Sudan, Syria, United States of America, United Kingdom, United States Virgin Islands, Venezuela, Yemen, and Zimbabwe.
Currencies accepted for deposits/withdrawals
Deposits and withdrawals into and out of Moneta Markets trading accounts are accepted in a dozen currencies, including popular crypto offerings. Deposits and withdrawals can be made in USD, EUR, GBP, NZD, SGD, JPY, CAD, HKD, BRL, Bitcoin, Ethereum, and Tether.
Account types
Moneta Markets offers a wide range of account types, including Straight Through Processing (STP), two tiers of Electronic Communication Network (ECN) accounts, and Islamic swap-free versions of all account offerings. Moneta Markets also offers Percentage Allocation Management Module (PAMM) accounts and trade copying services through their proprietary CopyTrader App, as well as ZuluTrade social trading integration.
Minimum deposit
STP and Prime ECN accounts have a very low minimum deposit requirement of $50 USD (or equivalent), while Ultra ECN account holders must make an initial deposit of $20,000 USD (or equivalent). Islamic swap-free trading accounts follow the same minimum deposit structure.
Costs and fees
Spreads on STP trading accounts at Moneta Markets start from 1.2 pips, while both tiers of ECN accounts offer spreads from 0.0 pips. Moneta Markets does not offer fixed-spread accounts, and spreads may widen during times of extreme volatility or low market volumes. In exchange for low spreads, ECN accounts pay commissions of $3 per lot per side on Prime ECN accounts, while Ultra ECN accounts enjoy a discounted $1 per lot per side commission.
In addition to spreads on all accounts and commissions on ECN accounts, Moneta Markets waives Islamic swap-free account fees for a period of ten days following account opening and deposit.
Moneta Markets does not charge deposit fees; traders get one free withdrawal request per calendar month. Above the single monthly withdrawal limit, a flat 20.00 unit rate processing fee is charged in your account’s base currency.
Bonus and promotions
Moneta Markets offers a 50% deposit bonus, which takes the form of a rebate structure on qualifying trades. After making a single deposit of at least $500, qualifying accounts earn a cash rebate per lot traded that can be redeemed at the beginning of every month. STP accounts earn $2.00 per lot traded on all forex pairs and Gold and Oil commodities. Prime ECN account holders earn $0.50 per lot traded on the same assets.
Depositing ease
Moneta Markets does not charge deposit fees, and payment processing is fast and easy. Deposits are typically processed and made available in trading accounts within 24 hours.
Withdrawing ease
Withdrawals through Moneta Markets are easy and free if you only make one monthly withdrawal request. The withdrawal request process takes less than two minutes through the broker's client portal. Payments are typically processed and received no later than the next business day.
Moneta Markets Trading Experience Score
Trading Experience
3.3/5
Tradeable asset classes
Moneta Markets offers a wide range of assets across over 1,000 CFDs, including 46 forex pairs, 23 global indices, 19 commodities, 700+ individual stocks, 30 cryptocurrency CFDs and pairs, 51 ETFs, and 7 Bond market CFDs.
Lot sizes
Moneta Markets offers minimum lot sizes of at least 0.01 lots on forex and crypto, 0.1 lots on most individual share CFDs, and 1.0 lot minimums on Bond CFDs and Crypto ETFs. Futures ETFs have variable minimum lot sizes that are dependent on the underlying asset.
Leverage
Moneta Markets offers aggressive leverage for retail traders up to 1,000:1 on all forex pairs, indices CFDs, and precious metals. Leverage on energies CFDs is capped at 500:1, with “soft” commodities (non-energy, non-metal) up to 50:1 leverage. Individual share CFDs get maximum 33:1 leverage.
Execution quality
Moneta Markets trading execution across all platforms is overall excellent, though minor instances of slippage will be experienced depending on market volumes and overall volatility. Slippage has been observed in both directions, both in favor of and against the client's terminal.
Moneta Markets Tools and Resources
Tools and Resources
3.3/5
Trading platform
Moneta Markets offers a wide range of trading platforms, including MetaTrader 4 and 5's mobile, desktop, and web-based applications. It also offers its own in-house PROTrader terminal in mobile, and web application variants, which is powered by TradingView and offers a similar experience.
Trading tools
All Moneta Markets trading platforms offer the standard chart time frames, including Monthly, Weekly, Daily, and some intraday candle configurations. However, traders who are used to setting custom candle periods not listed in the standard charting packages will be left disappointed.
Moneta Markets also offers a comprehensive Economic Calendar for all trading accounts. “MonetaTV” is an AI-based market news service that delivers a daily outlook on market moves and key headlines. Videos are produced and uploaded to Moneta Market’s YouTube channel daily and are freely available to all.
Moneta Markets also offers several trading tools to clients with a balance of at least $500, including technical analysis, trade ideas, expert advisors, and in-depth education services. It offers a Trading Academy video course in Basic, Intermediate, and Advanced tiers and a catalog of educational webinars.
Moneta Markets Trust
Trust
2.6/5
Regulation tiers
Moneta Markets is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. The FSCA, while not as strict as tier-1 regulators, is still considered to be a strong agency that protects investors and traders.
Moneta Markets also has a tier-5 regulation in Saint Lucia. Tier-5 regulations do not add extra protections to investors and traders.
As a brokerage not regulated by the Commodity Futures Trading Commission (CFTC), Moneta Markets cannot accept clients from the US. Further, Moneta Markets is unable to facilitate trading accounts for residents of the following countries: Afghanistan, American Samoa, Albania, Australia, Belarus, Bermuda, Bosnia And Herzegovina, Bulgaria, Burma, Burundi, Canada, Central African Republic, Crimea, Croatia, Cuba, Cyprus, Democratic Republic of the Congo, Eritrea, Former Federal Republic of Yugoslavia, Guam, Hong Kong, Iran, Iraq, ISIL (Da’esh) & Al-Qaida & The Taliban, Italy, Ivory Coast, Japan, Liberia, Libya, Macedonia, Mali, Montenegro, Myanmar, North Korea, Puerto Rico, Republic of Guinea, Republic of Guinea-Bissau, Romania, Russia, Sierra Leone, Serbia, Sevastopol, Seychelles, Singapore, Slovenia, Somalia, South Sudan, Spain, Sudan, Syria, United States of America, United Kingdom, United States Virgin Islands, Venezuela, Yemen, and Zimbabwe.
Moneta Markets has an FSP license under the Australian Securities and Investments Commission, a tier-1 regulator. This license allows Moneta to provide financial but not brokerage services in Australia.
Moneta Markets Customer Service and Support
Customer Service and Support
4.0/5
Languages available
Moneta Markets offers 24/5 live customer support via email, phone, and chat in six languages: English, Malay, Chinese, Korean, French, and Portuguese. On top of a comprehensive FAQ section available on the Moneta Markets website, general help services are also available through both the website and client portal.
Schedule/Time to reply
Moneta Markets client support is active during all forex market hours (24/5) and responses are guaranteed to be within 24 hours if telephone or live chat services are unavailable. Responses are typically very fast and either provide an answer or direct clients to the relevant information.
User reviews from ForexPeaceArmy
User Experience
4.6/5
Here you can find what Forex Peace Army users think about Moneta Market. Do you want to see more reviews? Visit the FPA page to see more user experiences with this broker.
Karenh – United Kingdom
Trustworthy Broker
5/5
Love the ease of pay outs and the spreads and leverage are great.
100% recommend this Broker A+."
Bheesham1234 – Trinidad and Tobago
Fast withdrawals
5/5
Giovannipb – Brazil
Previous problem solved
5/5
Tam89 – United Kingdom
The best broker and excellent support
5/5
Muhsin Usman – South Africa
Excellent support
5/5
Andrew21 – Cyprus
Execute orders in a non-existing price | Huge spreads
1/5
Moneta Markets final thoughts
FXStreet's assessment of Moneta Markets found them to be a good broker overall. Client feedback is generally positive, with many users praising Moneta Markets' leverage offerings and flexibility of deposit options and account types, including Islamic swap-free options.
Moneta Market's pricing and fee structure is broadly considered competitive, though spreads are somewhat higher than the industry average. Their PROTrader platform is also notably user-friendly, though mobile app offerings lack basic functionalities such as trading directly from the chart and basic drawing tools.
Customer support was commendable, with notable effort put into adhering to their promise of answering all requests and questions within 24 hours. Live chat service was particularly notable, with responses typically taking less than five minutes, and frequently instantaneous.
As with all brokerages, isolated client concerns exist, with some complaints of minor withdrawal delays and the odd technical glitch involving the PROTrader platform.
Moneta Markets has emerged as a reputable brokerage offering a satisfactory trading experience. Many clients express satisfaction with Moneta Markets' services and products.
About Moneta Markets
Moneta Markets has provided independent brokerage services since 2022, starting under the Vantage Group in 2020. Regulated in South Africa, Moneta Markets is the trade name of Moneta Markets Ltd., registered under the Saint Lucia Registry of International Business Companies with the registration number 2023-00068.
FAQs
Moneta Markets is regulated by the Financial Sector Conduct Authority (FSCA) of South Africa. While not in the highest tier in terms of regulator reputation, the FSCA provides a good level of trust and oversight for traders based outside the US, the European Economic Area, Australia, or Canada, among other countries. FXStreet verified Moneta Markets through rigorous testing of their trading platforms, payment processing and execution, and all available customer service channels.
Moneta Markets has registered offices in South Africa and Hong Kong and operates wherever regional securities regulators allow residents to engage in financial markets with regulatory approval from South Africa’s FSCA.
Moneta Markets offers a wide range of tradeable instruments, from spot forex to equity CFDs, indices, commodities, precious metals, and even some bonds and ETFs. It also offers access to cryptocurrency trading across all of its platforms.
Opening a trading account at Moneta Markets typically involves several straightforward steps. Here's a general guide on how to proceed:
- Visit the Moneta Markets Website: Go to the official website of Moneta Markets. Ensure that you are accessing the legitimate website to avoid phishing attempts.
- Account Registration: Look for a button or link that says "Register" or "Sign Up" on the website. Click on it to start the account opening process.
- Choose Your Account Type: Moneta Markets offers different types of trading accounts depending on your trading preferences and experience level. Select the type of account that best suits your needs.
- Fill Out the Application Form: You'll be asked to fill out an application form with personal details such as your name, email address, phone number, and residential address. You may also need to provide some financial information and specify your trading experience.
- Verify Your Identity: As part of regulatory requirements, brokers like Moneta Markets typically require you to verify your identity. This often involves uploading scanned copies or photos of identification documents (such as a passport or driver's license) and proof of address (such as a utility bill or bank statement).
- Agree to Terms and Conditions: Read through the terms and conditions of trading with Moneta Markets and agree to them.
- Fund Your Account: Once your account is approved and verified, you can fund your trading account. Moneta Markets provides several methods for depositing funds, such as bank wire transfers, credit/debit cards, or online payment processors.
- Download Trading Platform: Depending on your preference, you may need to download and install the trading platform provided by Moneta Markets, such as MetaTrader 4 (MT4) or MetaTrader 5 (MT5).
- Start Trading: After funding your account and setting up the trading platform, you can start trading various financial instruments offered by Moneta Markets.
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