If you are trading or thinking of getting started with Moneta Markets, then there is no better starting point than our Moneta Markets review for everything they have to offer.
You will find there are several Moneta Markets account types to choose from. That is exactly what we will focus on here. We will give all the details on every available account type, along with guiding you through exactly how to open your live account.
Let’s get started.
Table of contents
Moneta Markets Account Types
Here we walk through each available Moneta Markets account type that you will find when trading with the broker.
The first type you may encounter is the Moneta Markets demo account. This is available to all traders for a period of 30-days. Just like any demo account, it is an excellent place to test out your strategies or get to know the broker.
Again, there is no risk or obligation involved as all money traded is virtual. In order to open one, just visit the Moneta Markets website.
The ECN account is a popular choice with the broker. With this account type, you will have more than 300 CFD assets open to trade, and the minimum deposit remains very accessible at just $200.
The spreads are great value too. These start from 0 pips with a $3 per lot per side commission added. The ECN execution is some of the fastest in the industry and this makes the account type a good choice for scalpers with leverage of up to 500:1 available on forex depending on your location.
The next available account type is the STP account. This has an even lower minimum deposit of just $50 which makes it very easy to begin trading with. Through this account type, you will have access to a full range of more than 300 assets.
The spreads on the STP account are also good value starting from 1.2 pips with the same leverage of up to 500:1 available on forex. The STP execution also provides top speeds and great pricing.
The Moneta Markets Prime account is aimed at professional traders and provides a very enticing spread from 0.4 pips on many assets with the full catalog available to trade. Again leverage can go very high up to 500:1 in some cases.
The availability of this leverage and the Prime account itself depends on your location, and the minimum deposit here is high at $10,000 to get started.
You will find that both the ECN and STP account types also can be opened as Islamic trading accounts. These are fully compliant with Shariah Law and you will pay a daily fee for holding positions rather than a rollover or any interest-based fee.
If you are looking for this kind of account you can check out our swap-free Islamic forex brokers top ten.
A PAMM account with some excellent features is also available from Moneta Markets. These features include the ability for instant client onboarding as well as instant fee calculation, all aimed at making your life easier as a money manager.
Trades can be allocated by equity and you can have an unlimited number of investors and accounts to manage. The fees and commissions are also both flexible for you as a PAMM manager based on your requirements.
Moneta Markets Account Opening
With the account types considered, here is a closer look at exactly how to open your Moneta Markets account.
Live Account Opening
The first thing that many traders like to do, and it could be a good idea for you, is to open a demo account. You can read our Moneta Markets demo account guide to get the lowdown on this.
If you want to move straight to a live account though, that is also fine. Just head to the broker website, complete the registration information, and you can move to the next step.
As part of opening a live account, you will have to verify it. This requires your ID or passport to prove your identity, and a utility bill or bank statement to prove your residence. These can be uploaded and verified very quickly online.
With the account verified, you will be ready to make your first deposit. You can fund your account in a number of ways. These include bank wires, credit/debit cards (Visa and Mastercard), JCB, Sticpay, Fasapay, Skrill, and Bitcoin.
The availability of each funding method can vary depending on your location.
The Minimum deposit at Moneta Markets starts from $50 with an STP account. This amount is $200 for an ECN account while the Prime account is $10,000 as a minimum.
For more on minimum deposits, read our Moneta Markets minimum deposit guide.
There is a good range of base currencies available at Moneta Markets. This includes the USD, EUR, GBP, AUD, CAD, SGD, JPY, HKD, and NZD.
Moneta Markets Account Bonus
There is a 50% deposit bonus offered by the broker. This depends on your location and jurisdiction but if you are eligible then it will be transferred into your account within 5 business days after you made the deposit. The minimum deposit for this is $500.
Moneta Markets Account Deposit & Withdrawal
You will not encounter any direct fees from the broker when you make a deposit or a withdrawal. The exception here is if you are using an international bank wire transfer which may incur a fee. The minimum for such a transfer is 20 units of your base currency, for example, $20. If you are depositing a non-base currency, there may be a small conversion fee.
The processing time for a deposit is usually instant. For a bank transfer deposit, it can take 2-5 business days. Withdrawals take 1-3 business days.
Moneta Markets Account Management
Moneta Markets Account Inactivity
The Moneta Markets demo account expires after 30 days. For live accounts, there is no inactivity fee at all. If you have any issues, you can always contact the broker support team.
How to close your Moneta Markets Account
If you do wish to close your account, the first step is to withdraw any funds you have in the account. With this done, you can contact the broker with a request to delete your account. Again, if you encounter any issues, the broker support team will be there to help.
About the Author
Always full of different interests, Luca started to get interested in the field of personal finance in 2014.
His self-taught studies led him year by year to become increasingly interested in the investment field.
To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.
His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.
In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.