- 1 Moneta Markets Basics
- 2 About Moneta Markets
- 3 Key Benefits
- 4 Why Choose Moneta Markets?
- 5 Regulation And Safety
- 6 Regulation In Kenya
- 7 Fund Safety
- 8 Forex Industry Awards
- 9 Moneta Markets: Legit Or Scam?
- 10 Trading Assets
- 11 Trading Instruments
- 12 Moneta Markets Account Types
- 13 Live Accounts
- 14 Demo Accounts
- 15 Leverage
- 16 Spreads
- 17 Commissions
- 18 Islamic Swap-Free Accounts
- 19 Moneta Markets Registration – How To Open A Trading Account
- 20 Moneta Markets Registration – How To Verify A Trading Account
- 21 Moneta Markets Payment Methods
- 22 Moneta Markets Deposits
- 23 Moneta Markets Withdrawals
- 24 Trading Platforms
- 25 Trading Tools
- 26 Education
- 27 Moneta Markets Customer Support
- 28 Our Verdict
- 29 Moneta Markets Forex Broker Review FAQ
- 30 Similar Brokers
Moneta Markets Basics
|🏛️ Based in||Limassol, Cyprus|
|⚖️ Regulation||FSCA, FSC|
|💰 Minimum Deposit||$50|
|💳 Deposit Options||VISA, MasterCard, FasaPay, JCB Pay, SticPay, Bank Wire|
|💳 Withdrawal Options||VISA, MasterCard, FasaPay, JCB Pay, SticPay, Bank Wire|
|📌Open an account||Start Trading with Moneta Markets|
About Moneta Markets
Moneta Markets is a reputable forex broker. It offers great account options, excellent trading conditions, and a safe trading environment. It also offers great educational resources, useful copytrading tools, and a VPS service.
Why Choose Moneta Markets?
Moneta Markets is a leading forex broker that offers traders an array of advantages when trading currencies. Here are some key benefits to using Moneta Markets:
- Low Spreads and Fees: Moneta Markets offers competitive spreads on major currency pairs, as well as low fees on trades, deposits, and withdrawals. This makes it easier for you to maximize their profits while minimizing costs associated with trading currencies.
- Advanced Trading Platform: The advanced trading platforms offered by Moneta markets allows you to access real-time market data, place orders quickly and easily, manage risk effectively, analyze the markets in depth with technical indicators and more!
- Security & Regulation – As a regulated broker in multiple jurisdictions, Moneta Markets takes security seriously. You can be sure your funds are safe at all times when trading through them. They also use SSL encryption technology which ensures your personal data remains secure.
Regulation And Safety
Moneta Markets is a licensed forex broker. Moneta Markets is a trade name use by two companies, which both work together, and which both operate under the same management. They are:
- Moneta Markets is a trading name of Moneta Markets South Africa (Pty) Ltd, an authorised Financial Service Provider. They are licensed and monitored by the Financial Sector Conduct Authority (FSCA) of South Africa, under licence number 47490.
- Moneta Markets is also a trading name of Moneta LLC, a registered financial services provider. They are licensed and monitored by the Saint Vincent and the Grenadines Financial Services Authority, under registration number 2052 LLC 2022
Regulation In Kenya
Traders in Kenya can open an account with the Moneta LLC business. As an SVG broker, they operate with slightly less regulatory oversight than other some of the other regulated brokers in Kenya. However, they still operate using strict client fund security measures and data protection protocols. As such, Moneta Markets is a reliable online trading service provider.
At Moneta Markets, they take the security of their clients’ funds and data very seriously. They have implemented a number of measures to ensure that your trading experience is safe and secure.
- Account Security: All accounts are protected by two-factor authentication (2FA) which requires both an email address and password to access your account. Additionally, all passwords must be at least 8 characters long with a combination of upper case letters, lower case letters, numbers and symbols for added protection against malicious actors trying to gain access without authorization.
- Data Encryption: Furthermore, they use advanced encryption technology on their servers so only authorized personnel can view sensitive information such as login credentials or financial transactions made through the platform.
- Funds Security: All client funds are held in segregated bank accounts with top tier banks around the world so that they remain separate from company operating capital at all times – this ensures that no matter what happens you will always have full control over your own money as it cannot be used for any other purpose than funding or withdrawing from your trading account(s).
Forex Industry Awards
Moneta Markets is an award-winning online forex broker. Their most recent accolades include:
- CFD Platform Of The Year 2022 – FinTech Awards
- Users Choice Award 2022 – Forex Rating
- Best Forex Broker For Beginners 2021 – Forex Rating
- Best Forex Broker For Professionals 2021 – Forex Rating
Moneta Markets: Legit Or Scam?
Moneta Markets is a legit forex broker. They have been in the forex industry for several years now and have a growing client base in Kenya. Moneta Markets are a regulated company. In terms of their services, they have great account types, good trading technology, and fair online trading conditions. They also have convenient payment methods, fast withdrawals, and good client fund protection. In our opinion, they are a reputable and legit forex company.
Moneta Markets has a great selection of trading assets. You can trade using any of their 300+ trading instruments including currencies, indices, commodities, and share CFDs.
Whether you’re a new trader looking to focus on the forex market, or a seasoned traders looking to diversify your portfolio, Moneta Markets has something for everyone. They offer:
- Forex: They offer trading on 40+ currency pairs including majors, minors, and exotics.
- Indices: They offer trading on 20+ indices including the FTSE100, the S&P500, and the DAX30.
- Commodities: They provide access to 15 commodities including oil and natural gas,
- Shares: They provide access to 130+ shares including Renault, LVMH, Philips, and Eni.
- Cryptos: They offer trading on 6 crypto CFDs including Bitcoin.
Moneta Markets Account Types
Moneta Markets has a fairly simple account model. They offer two account types. These are the STP account and the ECN account. They both come with deep liquidity, fast trade execution, and low slippage. They also come with transparent pricing and low trading costs.
|Type||Spreads||Min. Deposit||Max. Leverage||Commission|
|STP||From 1.2 pips||$50||1:1000||$0|
|ECN||From 0.0 pips||$200||1:1000||$3 per lot|
As part of our Moneta Markets review, we checked what trading conditions come with their live accounts. In our opinion, the best option for new forex traders in Kenya is the STP account. The spreads start from 1.2 pips on forex pairs, and there are no extra commission fees. The maximum leverage is also quite high at 1:1000. The minimum deposit for this account is $50. The base currencies are USD, AUD, GBP, EUR, SGD, CAD, NZD, JPY, and HKD.
Moneta Markets also has a demo trading account. In our opinion, this is one of their most helpful trading tools. You can use it to spend time developing your trading skills and getting used to online trading platforms. You can also use it to get a feel for the forex market and to test different forex trading strategies. The Moneta Markets demo account works based on virtual money. This means there are no deposits and there is no risk to your actual money. As such, this service can be very useful for new traders, especially if it’s their first time trading.
The maximum available leverage is 1:1000 on all accounts.
Moneta Markets has tight spreads. They are more or less in line with what you would expect from a reputable forex broker. The spreads are variable. This means that they depend on market conditions, and on the account type you choose. For example, with the Direct STP account, you can trade with spreads starting from 1.2 pips.
Moneta Markets also has good commission rates. They have one account with zero commission trading, which is what you would expect from a good broker. The commission rates are fixed. This means that they will be the same for every trade. For example, on the Prime ECN account, you can trade with commissions starting from $3 per lot.
Islamic Swap-Free Accounts
All of the Moneta Markets trading accounts are available as Islamic swap-free accounts. To get an Islamic swap-free version, you need choose this option when registering online.
Moneta Markets Registration – How To Open A Trading Account
As part of our Moneta Markets review, we looked at their account requirements. If you live in Kenya, then you can open a Moneta Markets trading account under the FSC business entity. Signing for an account is easy. To get started, go to the website, fill in the registration form, and choose your login details. Next, you need to complete the account verification process, submit copies of the requested documents, and choose your account type. This is so that they can approve and activate your account.
Moneta Markets Registration – How To Verify A Trading Account
As part of our Moneta Markets review, we looked at their account verification process. To open a live trading account you’ll need to show One Royal a proof of ID and a proof of address. This is so that they can check your identity and verify your account. The account verification process is simple. You can provide copies of your National ID card, Passport or Driving License . You can also provide copies of a utility bill or a bank statement.
Moneta Markets Payment Methods
As part of our Moneta Markets broker review, we checked what payment options they accept. As the minimum deposits are quite low, opening an account is fairly easy. They also offer a wide range of deposit methods, including e-wallets, which makes fund your account very convenient. As the withdrawal fees are quite low, closing an account is also easy. They also provide a wide range of withdrawal methods, which makes taking money out a completely hassle-free process.
Moneta Markets Deposits
Moneta Markets offers a wide range of deposit methods including debit card, credit card, and bank transfer. If needed, they also offer other funding methods including FasaPay, JCB Pay, and SticPay. The deposit time and deposit fees vary depending on which payment method you choose. For example, deposits made via bank transfer are free, and processed within 1-3 working days.
Moneta Markets Withdrawals
Moneta Markets offers a wide range of withdrawal methods including debit card, credit card, and bank transfer. If needed, they also offer other withdrawal options including FasaPay, JCB Pay, and SticPay. The withdrawal time and withdrawal fees vary depending on which payment method you choose. For example, withdrawals made via bank transfer have fees, and are processed within 1-3 working days.
Moneta Markets provides a range of platforms and tools to help traders make the most out of their trading experience. The broker offers both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular forex trading platforms in the world. Both MT4 and MT5 offer advanced charting, technical analysis, automated trading capabilities, as well as access to a wide variety of markets including Forex, CFDs on stocks & indices, commodities & metals.
In addition to these powerful platforms Moneta Markets also provides its own proprietary web-based platform which is designed for ease-of-use with an intuitive interface. It allows users to quickly get up and running with their trades without needing any prior knowledge or experience in online trading. This platform also includes features such as one click order execution for fast trade entry/exit times along with real time market data feeds from major exchanges around the globe. This means you can always stay on top of what’s happening in your chosen markets.
Moneta Markets has a handy DupliTrade tool. You can use it to copy the trades of experienced proprietary traders. All you need to do is choose who you want to follow based on your trading instruments, trading method, and trading style. Their trades will then automatically be copied to your own trading platform.
Moneta Markets has lots of educational resources, including free video tutorials and a free online course. It also offers news, analysis, and daily TV coverage of the financial markets.
Moneta Markets Customer Support
At Moneta Markets, they understand that customer support is an essential part of any successful forex trading experience. That’s why they offer a comprehensive range of customer support services to ensure their clients have the best possible trading experience. You can contact their customer support team by email, phone, and live chat.
Moneta Markets is an established and reliable forex trading broker that offers a wide range of services to its clients. The company has been in business for over 10 years, providing traders with access to the global markets through their secure online platform. They offer competitive spreads, low commissions and fast execution times on all trades. Additionally, they provide educational resources such as webinars and tutorials which can help new traders learn the basics of forex trading quickly and easily.
Overall, Moneta Markets is an excellent choice for those looking to start or expand their forex trading portfolio. Their customer service team is always available should you have any questions or concerns about your account or trades while their advanced technology ensures that your funds are safe at all times when using this broker’s services. With so many benefits offered by this reputable broker it’s easy to see why so many people choose them as their go-to provider for online currency exchange transactions!
Moneta Markets Forex Broker Review FAQ
Yes, Moneta Markets in Kenya is a good broker. They have great account types, low minimum deposits, and low trading costs. Moneta Markets has a large range of trading instruments including forex, stocks, indices, and cryptos. They also provide high leverage, fast execution, and low slippage. In our opinion, they are a good broker and a good choice for Kenyan traders.
Yes, Moneta Markets is a legit broker. They offer an award-winning online trading service, as well as cutting-edge trading technology, free trading tools, good educational courses, and multilingual customer support. When it comes to client fund safety, they also operate using strict client fund protection and data security measures. In our opinion, this makes them a legit broker.
Yes, Moneta Markets is a regulated broker. The Moneta Markets trade name is used by two companies, both working together, and both operating under the same management. One company is registered in South Africa and licenced by the FSCA, and the other company is registered by the FSC in Saint Vincent and the Grenadines.
In our opinion, the best account type for new traders is the STP Account. It has low spreads that start from 1.2 pips on forex pairs, and there are no extra commission fees. The minimum deposit for this account is $50. The best account type for intermediate traders is the Prime ECN Account. It has spreads starting from 0.0 pips. There are commissions of $3 per lot per side. It also comes with high leverage of up to 1:1000. The minimum deposit for this account is $200.
Moneta Markets is a great forex broker. They have two great account types, both of which come with low minimum deposits. They also have good trading conditions, industry-leading trading technology, and useful educational resources. However, if you want to research all your options, there are many other great forex brokers in Kenya as well. We recommend looking at HotForex, FXTM, Exinity, FXPesa and Instaforex.
Ready to sign up? Register for an online trading account with Moneta Markets.