Maunto

Overview of Maunto

Maunto, registered in Saint Lucia in 2023, offers a wide array of tradable assets including indices, forex, cryptocurrencies, stocks, commodities, and metals. The broker introduces a range of account types - CLASSIC, SILVER, GOLD, PLATINUM, VIP - with a minimum deposit requirement of $250. It offers maximum leverage up to 1:400 for FX and varying levels for other assets. The Maunto WebTrader platform is their primary trading interface. Customer support is accessible via email, live chat, and phone. Maunto also provides educational resources focusing on trading fundamentals like leverage and stop-loss orders.

Pros & Cons

Maunto is characterized by its varied trading options and competitive spreads, which could appeal to traders looking for market diversity and cost-effective trading. The absence of deposit commissions and fees for the initial withdrawal further enhance its cost attractiveness. Additionally, the flexible withdrawal amounts through e-wallets offer convenience.

However, the withdrawal process may be considered protracted, potentially affecting liquidity. Moreover, inactivity and maintenance fees could increase the trading costs, as well as complex swap fees could impact profitability.

Is Maunto Legit？

Maunto, owned and operated by DataWave Tech Ltd, operates under the regulation of the Mwali International Services Authority ( MISA), holding a retail forex license under license no. T2023409.

Market Instruments

Maunto delivers an extensive array of trading instruments via CFDs, encompassing indices, Forex, cryptocurrencies, stocks, commodities, and metals. Indices offer insights into broader market trends, Forex trading presents a rich selection of currency pairs highlighting the market's depth, and cryptocurrencies introduce a dynamic investment avenue. Additionally, stock trading capitalizes on company-specific movements, commodities provide a hedge against geopolitical shifts, and metals trading offers a traditional safeguard against economic fluctuations.

Account Types

This broker provides 5 distinct trading accounts: CLASSIC, SILVER, GOLD, PLATINUM, and VIP. The initial deposit requirement for all accounts is $250. They offer varying levels of leverage, peaking at 1:400 for FX markets, with adjustments for other asset classes. Spreads differ by account, starting from as low as 0.03 pips for Platinum and VIP accounts.

How to Open an Account with Maunto？

To start trading with Maunto, follow these steps: Firstly, navigate to their website and find the account creation section. Fill out the registration with your personal information and choose your preferred account type. Submit documents for verification, including ID and proof of residence. After verification, fund your account using the provided methods. You're then set to trade on the Maunto WebTrader platform across various assets.

Leverage

This broker offers the maximum trading leverage is up to 1:400 for forex trading, with adjusted levels for other assets such as up to 1:200 for Silver & Gold, Indices, Commodities, and up to 1:5 for Stocks/Equities.

Spreads & Commissions

The Classic and Silver accounts offer EUR/USD and GBP/USD spreads starting from 2.5 and 2.8 pips, respectively, aligning with the standard for retail forex trading. For more experienced traders, the Gold, Platinum, and VIP accounts provide progressively tighter spreads, with the VIP account offering the most competitive rates, such as a 0.9 pip spread on EUR/USD. Interestingly, Maunto extends its competitive edge with flexible spreads as low as 0.03 pips for Platinum and VIP accounts, and crude oil trading offers dollar-based spreads.

Maunto also charges zero deposit commissions across all account types.

Other Fees

Maunto applies various non-trading fees, including withdrawal fees, inactivity fees, maintenance fees, and swap fees.

The first withdrawal is free if the account is fully verified and has conducted at least one trade; otherwise, a $10 fee is applied. Subsequent withdrawals incur charges, such as 3.5% for card transactions and $30 for wire transfers.

Inactivity fees scale with the period of inactivity, starting from 100 EUR after one month, increasing to 500 EUR beyond six months.

A monthly maintenance fee of $10 is charged regardless of account activity.

Swap fees are incurred for positions held overnight, calculated daily and tripled on Wednesdays to cover the weekend. These fees vary by asset class, including Forex, Cryptocurrencies, Commodities, Indices, and Stocks.

Trading Platform

Maunto's WebTrader platform delivers an accessible and intuitive trading environment, enabling users to connect from any device. It features a straightforward interface for customizing alerts and analyzing trading performance, supporting strategic decision-making. Additionally, Maunto places a strong emphasis on security, incorporating high-level technological measures and encryption to ensure the safety of users' trading operations.

Deposit & Withdrawal

Maunto offers several methods for depositing and withdrawing funds, including Credit/Debit Cards, Wire Transfer, and APMs. Withdrawal minimums are set at 10 USD/1500 JPY for Credit Cards and 100 USD/15000 JPY for Wire Transfers, with e-wallets offering more flexibility on amounts, subject to fees. Withdrawals are processed within 8 to 10 business days, but timelines differ according to local bank procedures.

Customer Support

Email: support@maunto.com

Phone: +44 203 150 2 347

Live Chat

Educational Resources

The educational resources include a help center with articles on important trading concepts such as margin, margin calls, stop-loss orders, and leverage. These resources are created to support traders of all levels, from beginners learning the basics to advanced traders looking to refine their strategies.

Conclusion

Operating since 2023 without regulation, Maunto offers wide range of assets, competitive spreads, and no deposit fees are attractive. However, the platform's user-friendly features are marred by the costs through inactivity and maintenance fees, along with a slow withdrawal process.

FAQs

Q: What types of assets can be traded on Maunto？

A: Maunto offers trading in indices, forex, cryptocurrencies, stocks, commodities, and metals.

Q: What account types does Maunto provide？

A: Maunto offers several account types: CLASSIC, SILVER, GOLD, PLATINUM, VIP, each with a minimum deposit requirement of $250.

Q: What is the maximum leverage available on Maunto？

A: The maximum leverage is up to 1:400 for forex and varies for other asset types.

Q: Are there fees for deposits and withdrawals at Maunto？

A: There are no deposit commissions, and the first withdrawal is fee-free. Subsequent withdrawals will incur fees, and there are also inactivity and maintenance fees.

Q: How does Maunto support its traders？

A: Maunto provides customer support via email, live chat, and phone.

Risk Warning

Online trading poses substantial risks, with the potential for complete loss of invested capital, rendering it unsuitable for all traders. It is imperative to comprehend the inherent risks and acknowledge that the information provided in this review is subject to change due to continuous updates in the company's services and policies.

Additionally, the review's generation date is a critical consideration, as information may have evolved since then. Readers are strongly advised to verify updated details directly with the company before making any decisions, as the responsibility for utilizing the information herein rests solely with the reader.