Moneta Markets is a relatively new entrant to the online financial assets trading platform market. It was founded in 2020. The platform seems to be a hit with many traders despite its relatively young age.
If this broker’s attractive branding elements and promising albeit confusing licensing declaration has caught your eye, and are about to make a financial move, you are in luck. Study this Moneta Markets review before depositing your hard-earned cash with them.
You will discover that this broker is not regulated in any reputable jurisdiction, though its website may claim otherwise. Unregistered brokerage firms are the bane of the financial markets. They are a huge risk because their clients are not protected from fraud or mistreatment.
When things go wrong, as they are wont to do with the unlicensed broker, the trader often finds himself or herself bereft of any financial compensation. It is critical, therefore, to only trade with brokerage firms that are under strict regulatory oversight.
If you have fallen prey to any financial mishap with these unregistered brokerage firms, we book a free consultation session with us. We can help chart a way to recover your money from them.
Moneta Markets: The bad
Moneta Markets is a trading platform that offers over 300 financial CFD trading assets. You can access indices, forex, crypto-assets, stocks, and commodities from its trading platform. This brokerage firm does not seem to have much in terms of attractive features. A quick look at its offerings reveals that Moneta also shares very little information on the fees charged to traders. There is no data on their commissions, trading charges, or spreads.
Moneta Markets is a market maker type of broker, making their profits from the losses of their clients. The rest of their trading strategy is quite opaque. One other peculiar feature that also works as a disadvantage for the firm is that they do not use the popular MT4 or MT5 for trade. They only offer a proprietary web trader. They are not focused on attracting the advanced trader to their platform.
Additionally, their platform does not support automated trading; neither does it have API custom application or third-party app support. Its training and research features are also very underdeveloped. Also, it doesn’t have much to offer in its highly advertised brokerage tutorials.
It is safe to say that Moneta Markets is a platform designed for the new or inexperienced trader, but lacks automated safe trading options or education features. Its first-time trader clientele who have little trading knowledge are in for a rough ride. Navigating the choppy waters of the financial markets without adequate broker support and safety features leaves them exposed.
Moneta Markets: The ugly
At the Moneta Markets website footer, the firm first states its regional trading restrictions. It clearly states that it does not offer trading access to Japan, North Korea, and the US. On its licensing information, Moneta says that it is a trademark of Vantage International Group Limited.
It then goes on to mention that Vantage Group is regulated in diverse jurisdictions. The third line of this ambiguous statement then goes on to say something interesting. That Vantage International Group Limited trades as Vantage FX and has a Cayman Islands Monetary Authority (CIMA) license.
The statement then throws you another curveball. It states Vantage Global Prime Pty Ltd that trades under Vantage FX has the recognized Australian Securities and Investments Commission (ASIC) license. Any trader trying to do their due diligence will be forgiven for making the assumption that Moneta Markets has an ASIC license and is therefore safe. Unfortunately, this is not the truth.
The truth about Moneta Markets
Moneta is indeed a Vantage International Group Limited business. It, therefore, only falls under the Cayman Islands Monetary Authority (CIMA) jurisdiction. The mentions of an ASIC license are only false advertising. Vantage Global Prime Pty Ltd dealings fall under the strict regulatory oversight of the Australian financial oversight, not Moneta’s or Vantage FX’s.
The Caribbean Island nation of the Cayman Islands is a haven for businesses that want to avoid scrutiny into their financial dealings. Wealthy personalities and rich investors adore the British Overseas Territory’s investor-friendly regulations and liberal laws.
Consequently, the islands, just like the St. Vincent and the Grenadines (SVG), are some of the most popular tax havens globally. Therefore, Moneta Markets is as unregulated as our review found Brokerz to be.
The Cayman Islands is also well known for its relaxed regulatory structures and strong privacy laws that make it super easy for anyone to set up a business. This is why the small nation with 60,000 inhabitants has an almost unequaled high concentration of wealth globally.
It also has some of the highest numbers of FX trading businesses that jet in to take advantage of easy regulatory guidelines. The Cayman Islands Monetary Authority is not only the nation’s central bank. It is also the supervisor of all its financial entities.
While it has an ethical code of conduct for the businesses that it licenses, the island’s liberal and flexible legal framework assures errant brokers insignificant penalties for financial misconduct. At most, they will only have to endure reduced sanctions for malpractices, which would cost these businesses massively in stricter regulatory jurisdictions.
Moneta Markets Review: The Verdict
This Moneta Markets review can conclusively say that this broker is not amply regulated. It’s a ticking time bomb. Do not waste your time or money here.
Experienced forex brokers only trade with offshore CIMA licensed brokers when they want to take advantage of the island’s massive tax benefits. If you want peace of mind and safety of your funds, go for tier 1 or tier 2 jurisdiction licensed traders.
Moneta Markets is an offshore Cayman Islands registered business. It may function and appear as honest, but it is not required to stay honest by strict regulatory oversight. It might offer you juicy packages, but it could all end in premium tears when your money begins to grow.
Such unpleasant surprises have occurred to thousands of traders globally. That could happen to you if you trade with Moneta Markets. If you have fallen prey to an unregulated scam broker such as Moneta Markets, contact us for advice. We can help you recover your money.