The minimum deposit requested by Moneta Markets is $50 to open a Direct STP account and $200 to open a Prime ECN account.
This Moneta Markets minimum deposit article will cover every aspect of Moneta Markets’ payment methods, fees, account currencies and deposits.
Table of Content
|Features||Moneta Markets Minimum Deposit|
|Moneta Markets Direct STP Account||$50|
|Moneta Markets Prime ECN Account||$200|
|Moneta Markets Islamic Account||$50 (STP) or $200 (ECN)|
|Base Currencies||USD, EUR, GBP, AUD, CAD, SGD, JPY, HKD, NZD|
Take a look at our Moneta Markets account types guide is a great place to look for more information on each type.
Visit Moneta Markets (74-89% of retail CFD accounts lose money)
Moneta Markets Base Account Currency
The broker supports a good number of base currencies:
You have to choose carefully the account base currency, because that will be the account you will trade with. Should you use a non-base currency, you will get charged a conversion fee.
Moneta Markets Payment Methods
As mentioned above, you will have to choose among the following payment methods:
- Bank wires
- Credit/debit cards that are Visa and Mastercard
- Local deposits
The availability for deposit and withdrawal depending on your location.
Unfortunately, PayPal is not available with this broker, but you can check out our PayPal forex brokers top ten to find brokers that do allow it.
Quite simply, there are no deposit fees charged from the broker side. You should check with your payment provider on fees they may charge though. An example here is international bank wires where your bank may charge a fee.
There is a maximum deposit limit of AUD$10,000 per transaction, per account each day, or the equivalent amount. If you deposit a non-base currency, a small conversion fee may also apply.
The first deposit you make by card will also be limited to a maximum of AUD$1,000 or equivalent.
Again, there are no withdrawal fees charged by the broker. Typically though, when it comes to international wire transfer, you can expect a minimum fee of 20 units (for example, 20 GBP or 20 USD) of your trading account base currency.
How to Deposit Funds into Your Moneta Markets Account
Here is our easy, step-by-step guide on how to deposit funds to your Moneta account.
1. Open a Moneta Markets Demo Account First
As a new trader to the industry, or if you are new to the broker, a great place to start is by visiting the broker and opening a demo account (74-89% of retail CFD accounts lose money).
This is a good chance for you to trade without any risk using virtual funds, and to get to know everything the broker has to offer. You are also completely free to proceed and open a live account right away if you feel ready.
2. Choose the Account Type You Wish to Open
The next step is choosing the type of account you would like to open. You will find several available from Moneta Markets. These include an ECN, STP, and Islamic account, alongside a PAMM account.
3. Verify Your Identity with the Broker
With your account type selected, it is essential to verify your account to start trading. For this process, you will need your ID with a passport being the best, and a copy of a utility bill or bank statement to verify your residence.
These documents can be quickly uploaded online, and once complete, you will be ready to make your deposit.
4. Choose Your Preferred Deposit Method
After you have verified your account and completed the first log-in, you will be ready to deposit following the easy steps below.
You can choose from a number of available deposit methods, mentioned above. The availability of each will depend on your own location.
5. Wait for the Deposit to be Processed
With your deposit complete, you just need to wait for it to be processed. The time this takes will depend on the method you use. For most methods, it could be up to 1 business day, though you should note that bank wires could take 2-5 business days.
Moneta Markets Minimum Deposit vs. Other Brokers
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money
|Number of deposit methods||8||9||10|
|Account currencies||USD, EUR, GBP, NZD, SGD, JPY, CAD, HKD, BRL||USD, EUR, GBP, NZD, AUD, CHF, HKD, JPY, CAD, SGD||USD|
Moneta Markets Deposit Bonus and Promotions
Moneta Markets does offer a deposit bonus. This is a 50% bonus though it will depend on where you are located and under which regulation whether you can access it. If available, once you have made a deposit, you will have this bonus in your account within 5 days. You need to make a minimum deposit of $500 to get the bonus.
Another bonus is offered in certain locations if you have lost 75% or more of your initial deposit of $1000, $2000 or $4000: in this case Moneta Markets will give you a 25% rescue bonus.
Moneta Markets Minimum Deposit Pros and Cons
- There is a low minimum deposit from $50
- A good number of base currencies are available
- Deposit bonuses are provided for some traders
- There are no fees on deposits and withdrawals
- The number of payment methods is not extensive compared to other brokers
- Withdrawing by using international bank wires involves a pretty consistent fee.
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