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Moneta Markets Review 2024

Written by
Krisztián G.
Fact checked by
Updated
2d ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
1,259 people chose this broker
Not available in United States; see best alternatives

Why choose Moneta Markets

Moneta Markets is a global forex and CFD broker.

It has low forex fees and non-trading fees are also very favorable. Opening an account 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.

On the negative side, its product portfolio 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.

BrokerChooser gave Moneta Markets a 4.2/5 rating based on analyzing 600+ criteria and testing via opening a live account.

BrokerChooser score
4.2 4.2 /5
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74-89% of retail CFD accounts lose money
Pros
  • Low forex fees
  • Easy and quick account opening
  • Seamless deposit and withdrawal
Cons
  • Limited product selection
  • High stock CFD fees
  • No investor protection

Moneta Markets at a glance

🗺 Country of regulationAustralia, South Africa, Seychelles, Saint Lucia
🛡️ Negative balance protectionYes
💰 FX commission per lot$3.00 commission per lot per trade
💰 EURUSD spread0.2
💰 Inactivity fee chargedNo
💰 Withdrawal fee$0
💰 Minimum deposit$50
💵 Available base currenciesUSD, EUR, GBP, NZD, SGD, JPY, CAD, HKD, BRL
💵 Conversion fee of deposits in non-base currencyExchange rate received from liquidity providers plus a mark-up. We used the EURUSD trading fees for the calculation.
💳 Deposit with bank cardAvailable
👛 With electronic walletAvailable
🕖 Time to open an account1 day
🎮 Demo account providedYes
💵 Number of currency pairs46
🛍️ Products offeredForex, Futures, CFD, Crypto
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Fees

Score: 4/5
Moneta Markets has low forex trading fees and non-trading fees. On the other hand, the fees for trading stock CFDs are high.
Pros
  • Low forex fees
  • No withdrawal fee
  • No inactivity fee
Cons
  • Average index CFD fees

We compared Moneta Markets's fees with two similar brokers we selected, Fusion Markets and IC Markets. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of Moneta Markets alternatives.

Low FX fees

Moneta Markets charges a forex commmission: $3.00 commission per lot per trade. Spread costs come on top of this, e.g. the EUR/USD spread is 0.2.

Broker
EURUSD spread
FX commission per lot
Moneta Markets
0.2
$3.00 commission per lot per trade
Fusion Markets
0.0
$2.25 commission per lot per trade
IC Markets
0.0
$3.50 commission per lot per trade
Moneta Markets forex spreads and commissions

Average index CFD fees

All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 3.0.

Broker
S&P 500 CFD spread
Moneta Markets
3.0
Fusion Markets
0.3
IC Markets
0.2
Moneta Markets index CFD spreads and commissions

Low stock CFD fees

The commission for stock CFD trading is the following: $6 per trade.

Broker
Apple CFD
Moneta Markets
$6.1
Fusion Markets
$0.1
IC Markets
$0.3
Moneta Markets stock CFD spreads and commissions

No inactivity fee, low withdrawal fee

There is no account, inactivity or deposit fee.
There is also 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 bank transfer withdrawals are charged 20 currency units of your account ($20, €20, etc.).

Broker
Inactivity fee
Withdrawal fee
Moneta Markets
$0
Fusion Markets
$0
IC Markets
$0
Moneta Markets inactivity, withdrawal and other fees

Safety

Moneta Markets provides negative balance protection. However, clients are onboarded under mid-tier regulation and there is no investor protection.
Pros
  • Negative balance protection
Cons
  • No investor protection
  • Does not hold a banking license
  • Not listed on stock exchange
Read more

Deposit and withdrawal

Score: 4.4/5
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.
Pros
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
  • Quick deposit and withdrawal
Cons
  • High fee for bank transfer withdrawal (after one free each month)
Read more

Account opening

Score: 5/5
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.
Pros
  • Fast
  • Fully digital
  • Low minimum deposit
Cons
None
Read more

Mobile app

Score: 4.3/5
Moneta Markets has a well-designed mobile trading platform that offers great functionalities. However, it lacks price alerts.
Pros
  • User-friendly
  • Good search function
  • Order confirmation
Cons
  • No price alerts
  • No Touch/Face ID login
Read more

Desktop platform

Score: 5/5
The Moneta Markets web trading platform is user-friendly with a great search function. However, the customizability is limited.
Pros
  • User-friendly
  • Clear fee report
  • Good search function
Cons
  • Limited customizability (for charts, workspace)
  • No price alerts
Read more

Product selection

Score: 2.3/5
At Moneta Markets you can only trade forex, futures, CFDs and crypto. Thus many popular asset classes, such as real stocks or ETFs, are not available as products to trade.
Read more
“I recommend Moneta Markets for forex and CFD traders familiar with the MetaTrader trading platforms.”

FAQ

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Author of this review

Krisztián Gátonyi

Method-Man | Forex • Market Analysis • Stock Market

I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Visit Moneta Markets 74-89% of retail CFD accounts lose money

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