Moneta Markets Review 2023

How we ranked fees

We ranked Moneta Markets's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

First, let's go over some basic terms related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

• Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
• Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.

In the sections below, you will find the most relevant fees of Moneta Markets for each asset class. For example, in the case of forex and stock index trading the most important fees are spreads, commissions and financing rates.

We also compared Moneta Markets's fees with those of two similar brokers we selected, Fusion Markets and IC Markets. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of Moneta Markets alternatives.

To have a clear overview of Moneta Markets, let's start with its trading fees.

Moneta Markets trading fees

Moneta Markets trading fees are low. There are different cost structures for different account types. We tested the ECN account, which charges a commission but offers tight spreads.

We know it's hard to compare trading fees for forex brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.

We have chosen popular instruments in each asset class usually provided by forex brokers:

• Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
• Stock index CFDs: SPX and EUSTX50
• Stock CFDs: Apple and Vodafone

A typical trade means buying a leveraged product, holding it for one week and then selling. For the volume, we chose a $20,000 position for forex and a $2,000 position for stock index and stock CFD transactions. The leverage we used was:

• 30:1 for forex
• 20:1 for stock index CFDs
• 5:1 for stock CFDs

These catch-all benchmark fees include spreads, commissions and financing costs for all brokers. Let's see the verdict for Moneta Markets fees.

Forex fees

Moneta Markets forex fees are generally low.

CFD fees

Moneta Markets has average CFD trading fees. Stock index CFD fees are low to average, while stock CFD fees are high.

Non-trading fees

Moneta Markets has low non-trading fees. There is no account, inactivity or deposit fee.

There is no fee for credit/debit card or electronic wallet withdrawals. One withdrawal by bank transfer per month is also free of charge, while all subsequent withdrawals are charged 20 currency units of your account ($20, €20, etc.).

Can you open an account?

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Moneta Markets accepts customers from all over the world, with some notable exceptions, like the US.

What is the minimum deposit at Moneta Markets?

The required Moneta Markets minimum deposit is $50.

Account types

If you want to explore the possibilities offered by Moneta Markets, we recommend opening a demo account.

There are two main types of trading accounts, which differ in their pricing structure and the spreads offered: an STP and an ECN account.

The key differences are detailed in the following table:

Moneta Markets also offers swap-free (Islamic) STP and ECN trading accounts for traders who are unable to receive or pay swaps on their trading positions due to religious beliefs. Rather than pay swaps or rollover interest on their overnight positions, the account holder is charged a daily administration fee that is deducted from the balance of their trading account.

How to open your account

Opening an account at Moneta Markets is an easy and fast process, and the client interface is user-friendly. Follow these simple steps to open an account in under 5 minutes:

1. Click on the 'GET STARTED' button.
2. Provide your name, email address, and phone number.
3. Add additional personal data and select the account type and account currency.
4. Answer a few questions on your financial status and trading experience.
5. Upload a copy of your photo ID or passport and proof of residence (utility bill or bank statement are accepted).

Depsositing between $500-$1,000 to your Moneta Markets trading account will grant you a 50% deposit bonus, plus an additional 10% bonus for deposits over $1,000, up to a total bonus credit of $20,000 (i.e. if you deposit $196,000). Bonus credit amounts cannot be withdrawn. Profits made will be reflected in your Account Value. Similarly, any losses made will be deducted from your real, deposited trading account funds, followed by your trading credit.

Account base currencies

At Moneta Markets, you can choose from 9 base currencies.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.

Compare digital banks

Deposit fees and options

Moneta Markets charges no deposit fees. Besides bank transfer, you can use credit/debit cards and the following electronic wallets:

• FasaPay
• JCB
• Sticpay

A bank transfer can take several business days, while payment with a credit/debit card is instant.

You can only deposit money from accounts that are in your name.

Moneta Markets withdrawal fees and options

Moneta Markets has no withdrawal fees for credit/debit cards and electronic wallets. The first withdrawal by bank transfer each month is free of charge, but all other withdrawals within the month carry a fee of 20 units in your account currency ($20, €20, etc.).

How long does it take to withdraw money from Moneta Markets? We tested the debit card withdrawal and it took 2 business days.

You can only withdraw money to accounts in your name.

How do you withdraw money from Moneta Markets?

• Log in to the client portal.
• Click on your name dropdown menu.
• Select 'Withdraw'.
• Choose an account to withdraw from.
• Enter the withdrawal amount.
• Click on 'Withdraw Funds'.

Please note that you can withdraw up to the same amount as that of your deposited funds, back to the same source of their origin. Any additional profits gained however will need to be transferred back using a bank wire transfer to a bank account under the same name as the trading account holder.

Moneta Markets provides its own self-developed platform, as well as the MetaTrader 4/5 web trading platforms. In this review, we tested Moneta Markets's own web trading platform.

The web trading platform is available only in English.

Look and feel

The Moneta Markets web trading platform is well-designed and user-friendly. On the other hand, its customizability is limited.

Login and security

Moneta Markets provides a two-step login. You can set it in within the 'Account Details' in the 'Manage Account Security' section. It is secured by Google Authenticator.

The platform's search functions work well. Assets are grouped into categories, and there is a search box where you can enter asset names or other keywords manually.

Placing orders

When you open a position, first you have to select 'sell' or 'buy' and after that you are able to set the stop loss or take profit levels if you want. Then you should click on 'Trade' and the order goes to the market. So placing orders consists of two steps.

You can use the following order types:

• Market
• Limit
• Stop

To get a better understanding of these terms, read our overview of order types.

There are also order time limits you can use:

• Good 'til canceled (GTC)
• Good 'til time (GTT)

Alerts and notifications

You cannot set alerts and notifications on the Moneta Markets web trading platform. 

Portfolio and fee reports

The Moneta Markets web platform has clear portfolio and fee reports, available under the 'Trade History' tab.

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Similar to the web trading platforms, Moneta Markets provides its own self-developed mobile trading platform, as well as the MetaTrader 4/5 mobile trading platforms. In this review, we tested Moneta Markets's own mobile trading platform.

The platform is available for both iOS and Android and we tested it on both. It is only available in English.

Look and feel

Moneta Markets has a great mobile trading platform, we really liked its design and user-friendliness. You will easily find every feature.

Login and security

Similarly to the web trading platform, the app provides a two-step login. You can set it in within the 'Account Details' in the 'Manage Account Security' section. It is secured by Google Authenticator.

You can't use fingerprint or Face ID authentication. Providing this feature would be more convenient.

Search functions

The search functions work well. You can search by typing the name of the product or by navigating the category folders.

Placing orders

You can use the following order types:

• Market
• Limit
• Stop

There are also order time limits you can use:

• Good 'til canceled (GTC)
• Good 'til time (GTT)

Alerts and notifications

Unfortunately, you can't set alerts and notifications on the mobile trading platform.

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Moneta Markets offers MetaTrader 4 and MetaTrader 5 as desktop trading platforms. In this review, we tested MetaTrader 4 due to its high popularity.

MetaTrader 4 is available in an exceptionally large number of languages:

Look and feel

Moneta Markets's desktop trading platform has great customizability. It is easy to change the size and the position of the tabs.

However, the platform feels outdated and some features are hard to find. For example, it took some time until we found how to add an asset to the watchlist.

Login and security

Moneta Markets provides only a one-step login. A two-step authentication would be more secure.

Search functions

The search functions are OK. You can find the assets in categories. However, categorization is a bit confusing as there are several forex categories. We also missed the usual search function when you can type in the asset names manually.

Placing orders

Here, you will not find very sophisticated orders like one-cancels-the-other. The following order types are available:

• Market
• Limit
• Stop
• Trailing stop

If you are not familiar with the various order types, read this overview.

There are also order time limits you can use:

• Good 'til canceled (GTC)
• Good 'til time (GTT)

Alerts and notifications

You can set alerts and notifications in the form of email, push notifications to mobile, or notification to the desktop platform. 

To set email or mobile notifications, you have to add your email address and your mobile MetaQuotes ID (it can be found in the MT4 app's settings). You can add them if you go to 'Tools' and then 'Options'.

Portfolio and fee reports

Moneta Markets has clear portfolio and fee reports. It is easy to find your profit-loss balance and the commissions you paid. These reports can be found under the 'Account History' tab: right-click on one position, then choose 'Save as Detailed Report'.

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Moneta Markets is a forex and CFD broker. To learn more about CFDs read our CFD trading tips.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Moneta Markets has an average selection of forex and CFD products. Stock CFDs typically include the largest companies listed on the UK, US and European markets.

You can change the leverage level at Moneta Markets, which is great.

Changing the leverage is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as preset leverage levels may be too high.

Note: Vodafone stock CFD is available only in the MetaTrader 5 trading platform.

Social trading

Moneta Markets offers a social trading service called DupliTrade.

All Moneta Markets clients can automatically duplicate the trades of a portfolio of proprietary traders. Simply choose the traders that you want to follow based on your preferred instruments, trading method and trading style, and their trades will automatically be duplicated in your Moneta Markets WebTrader platform.

If your Moneta Markets account is funded with a minimum of $2,000, you’re ready to start building your portfolio of professional traders. You can also test your portfolio on a demo account to find the right traders to suit your needs.

Trading ideas

Moneta Markets provides trading ideas for four asset types:

• currencies
• indices
• commodities
• share CFDs

After selecting an instrument, you can set time frames, for which you will see one of 3 suggestions:

• buy
• neutral
• sell

You can also get trading ideas from Trading Central, a third-party research provider. The ideas are based purely on technical analysis and cover FX pairs. There is a detailed definition of the pattern, and the actual trend is indicated with a target.

Fundamental data

Moneta Markets offers fundamental data, which is a useful tool mainly for forex traders. You can filter data for countries and by level of importance. A unique feature of the calendar is that you can search for specific news, so you can find the economic event faster.

There are different categories in which you can check the impact of the data. For example, you can see the distribution of bullish and bearish movements after the Fed's interest rate decision.

Charting

Moneta Markets has good charting tools. You can easily edit the chart and there are 56 technical indicators you can use.

News feed

We liked Moneta Markets's news feeds, provided by Trading Central. This is available if you have at least $500 on your account. You can find this tool under the 'Market Buzz' section, which also includes different tools, such as:

• split
• orientation
• trend analysis
• news volume
• most discussed topics
• sentiment
• subjectivity
• confidence index

Not only can you filter the news feeds for a specific asset, but you are also shown a sentiment score for that asset. For example, if all the articles are bullish/positive, then a 100% positive score is given.

Additionally, there's a tool called Trend Analysis that bluntly declares whether an asset "might fall" or "might rise" by x or y%. The somewhat sensationalistic headline is based on technical analysis by AI software that is also presented among trading ideas.

Overall, we wouldn't say that the quality of the information presented in Market Buzz is good enough to base your trading decisions on, but it's still much more useful than other MetaTrader brokers' news feeds.

Other research tools you may enjoy

You can use a great research tool for testing your strategy with relation to automated trading. It is called Strategy Tester and you can find it by clicking on 'View' and selecting 'Strategy Tester'.

Compare research pros and cons

You can contact Moneta Markets via:

• live chat
• phone
• email

Moneta Markets has great live chat support. It is fast and we always received relevant responses.

Email support is quick and helpful. We sent three emails and got helpful and relevant answers for all of them within a day.

Phone support was also great. We received quick and relevant answers.

However, we missed 24/7 availability, as support is only provided 24/5.

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At Moneta Markets you can learn in the following ways:

• Demo account
• Platform tutorial videos
• General educational videos
• Quality educational articles

Moneta Markets clients have access to video tutorials via Market Masters on basic trading concepts for various assets, technical and market analyses.

Using a demo account is a great way to get up to speed with trading and become familiar with the trading platforms.

If you choose to skip opening a demo account, trading platform tutorials are also available here. We loved the rich selection of lessons. 

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Is Moneta Markets regulated?

Yes, Moneta Markets itself is regulated by the Vanuatu Financial Services Commission (VFSC). However, Moneta Markets is a brand name of Vantage Group, which is regulated by several authorities globally, including the top-tier Australian Securities and Investments Commission (ASIC).

Is Moneta Markets safe?

To be certain if a brokerage is safe, we highly advise that you check two facts:

• how you are protected if something goes wrong
• what the background of the broker is

How you are protected

All Moneta Markets clients are onboarded under Vantage Global Limited, which is regulated by the Vanuatu Financial Services Commission (VFSC).

Moneta Markets provides negative balance protection. If the balance on your account goes into negative, you will be protected.

Background

Moneta Markets is a relative newcomer, as it was established only in 2020. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Find your safe broker

We recommend Moneta Markets for forex and cfd traders familiar with the metatrader trading platforms.

Below you can find links to all aspects of Moneta Markets in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our Moneta Markets fees article.

What about the minimum deposit?

Our ultimate guide to the Moneta Markets minimum deposit is updated regularly.

How to start your Moneta Markets account?

Look no further than our evaluation of the Moneta Markets account opening.

How's their trading app?

Here's our expert view after checking the Moneta Markets trading app.

Is the quality of customer service satisfactory?

All you need to know about the Moneta Markets customer service.

Legit or scam?

Is Moneta Markets legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether Moneta Markets is really free.

Is this broker good for beginners?

We checked it in Is Moneta Markets good for beginners.

Should you buy your silver bullets on Moneta Markets?

Research for silver bugs in the Silver buy on Moneta Markets guide

I want to trade options, are they available at Moneta Markets?

We explored the topic in Can you trade options on Moneta Markets?

What is the minimum account balance at Moneta Markets?

Check out the current account balance requirements at Moneta Markets in our What is the minimum account balance at Moneta Markets article.

Looking for commission and fees data for Moneta Markets?

We collected them in Moneta Markets commission and fees.

How do you withdraw money from Moneta Markets?

We tested it and collected the options and costs in How to withdraw money on Moneta Markets.