Having been established in 2019, Moneta Markets currently holds regulatory status with the Financial Services Conduct Authority (FSCA) in South Africa and the Australian Securities and Exchange Commission (ASIC) in Australia through its related entities. Over 70,000 customers use the Moneta Markets brand, which manages more than $100 billion in trading volume each month.

Along with the MetaTrader platform family, Moneta Markets also provides users with a simple web and mobile app. Although Moneta Markets does support a wide variety of third-party features, its research and educational options are subpar, and its pricing is standard.

Trading Instruments

Depending on which Moneta Markets entity and platform you use, you will have access to a variety of markets, including forex, shares, indices, commodities, and metals, with up to 1016 symbols available.

Trading in cryptocurrencies is only possible through contracts for difference (CFDs) at Moneta Markets; buying the underlying asset directly is not an option. Notably, neither U.K. residents nor retail traders from any broker’s U.K. entity are permitted to trade cryptocurrency CFDs.

• Forex Trading (Spot or CFDs) Yes
• Tradeable Symbols (Total) 965
• Forex Pairs (Total) 54
• U.S. Stock Trading (Non CFD) No
• Int’l Stock Trading (Non CFD) No
• Social Trading / Copy Trading Yes
• Cryptocurrency (Physical) No
• Cryptocurrency (CFD) Yes
  
  

Account Types

Choosing one of Moneta Markets’ three account types—the commission-based STP and Moneta Prime accounts, or the commission-free True ECN account—will affect your trading costs. The STP account from Moneta Markets is a pricey option for forex trading, whereas the True ECN account’s pricing is closer to the industry average with tighter spreads and a $6 per round-turn lot commission. Overall, Moneta Markets can’t match the pricing of the top forex brokers.

Moneta Markets Trading Platforms

Along with its own straightforward AppTrader mobile app, Moneta Markets also provides the MetaTrader family of platforms. When compared to the best MetaTrader brokers, Moneta Markets lags behind because its AppTrader mobile app is still very basic and MetaTrader only offers the standard platform suite.

An overview of the available apps is given below. Moneta Markets offers both its own AppTrader platform and the complete MetaTrader mobile platform suite (MT4 and MT5), both of which are accessible on Google Play for Android and the Apple App Store for iOS devices.

While MetaTrader is created by MetaQuotes Software Corporation, AppTrader is created by PandaTS, a company that also contributes to the powering of the Moneta Markets web platform.

In comparison to its PROTRADER platform, which uses TradingView for charting, Moneta Market’s WebTrader platform has a clean layout but a limited selection of features. For instance, the WebTrader platform only offers four watchlist columns and no news headlines.

Overview of the platforms: Moneta Markets gives you two options for trading platforms: the PandaTS-powered Moneta Markets WebTrader app and the MetaTrader platform suite (MT4 and MT5) created by MetaQuotes Software Corporation. Recently, Moneta Markets debuted its TradingView-powered PROTRADER platform.

Charting: Moneta Markets’ WebTrader charts, which offer six types, ten drawing tools, 48 indicators, and nine timeframes, are merely adequate. Although less fluid than I had anticipated, the panning and zooming were still acceptable, especially when using the dedicated zoom buttons. eToro and FOREX.com are two brokers that offer a more complete charting package.

Trading tools: Trading Central’s Market Buzz, Featured Ideas, and Economic Calendar are just a few of the tools that WebTrader provides. These features, however, are not built into the platform; instead, they merely redirect to open in a new tab from an external link. The platform needs to fully integrate these tools because doing so would make WebTrader noticeably smoother and enable traders to keep their attention on the markets.

Market research

As a result of its lack of internal research and access to quality third-party content from Trading Central, Moneta Markets falls short of the industry norm in this area.

Overview of research: Moneta Markets hosts videos from its Moneta TV series, but aside from that, almost all of its research content comes from outside sources, such as Trading Central’s suite of research tools and FxWirePro’s streaming headlines, with little to no in-house content.

Market news and analysis: The Moneta TV series powered by Trading Central, which is available on the broker’s YouTube channel, features daily market briefings. Both video series adhere to a daily template that provides a high-level overview of significant market movements. The videos are brief snippets that, despite being a little plain, I found to be helpful and simple to understand. I want these videos to be incorporated into the platform so that traders can watch them more easily.

Trading Central: Moneta Markets gives users access to a number of third-party research tools from Trading Central, including the Economic Calendar, Featured Ideas, and Market Buzz. However, customers will have to keep their account balances at least $500 in order to use these tools. For comparison, a few of the top forex brokers provide all live account holders with access to this content and premium tools. Additionally, the trading platform does not directly integrate these tools.

Education

The videos included in Moneta Markets’ Masters Course are the extent of its educational content. The Masters Course deftly explores a variety of topics and categories with brief video clips for beginners and longer videos for more advanced concepts. It covers multiple asset classes.

Learning center: The Moneta Markets Masters Course consists of 114 videos, many of which I found to be helpful. The videos range in length from a few minutes to about ten minutes.

There is room for improvement, and I would like to see Moneta Markets expand its YouTube channel’s library of videos to include webinars. It would also profit from increasing the amount of written content that it has already published because that would help it close the gap in its educational program.

Conclusion on Moneta Markets

I learned from using Moneta Markets that it must improve its offering across a number of categories if it wants to compete with the best forex brokers. Currently, Moneta Markets’ research and educational offerings are below industry standard, and it lags behind the top forex brokers in crucial areas like trading fees and the accessibility of mobile trading platforms.