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MoneoTrade

Cyprus|5-10 years|
Regulated in Cyprus|Suspicious Regulatory License|Suspicious Scope of Business|Cyprus Market Making(MM) Revoked|High potential risk|

https://www.moneotrade.com/en/

Website

Rating Index

Contact

+44 203 151 5550
info@moneotrade.com
https://www.moneotrade.com/en/

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

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40G

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Warning: Low score, please stay away! 4
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of this brokers's negative field survey reviews has reached 1. Please be aware of the risk and the potential scam!

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MoneoTrade · Company Summary

General Information & Regulation

Moneotrade is a Cyprus broker offering over 60 forex pairs and some other CFDs on the MetaTrader4 platform.Although Moneotrade is still licensed by CySEC, and as their license is revoked, the broker will no longer be reliable. And unless they change their minds or get another license, we will no longer be able to count them in our list of recommended brokers.

Market Instruments

Moneotrade offers a fine selection of forex pairs – over 60, a number of which minor or exotic like USDZAR, USDTRY, USDSGD, USDSEK, USDRUB, USDPLN, USDNOK, USDMXN, USDHUF, USDHKD, USDDKK, USDCZK and USDCNH. The rest of the CFDs you can trade with include 9 indices, oil, silver and gold. We saw no crypto assets in the list.

Accounts & Leverage

Moneotrade offers 3 trading Account, Classic Account with minimum deposits of $500, ECN Pro Account with minimum deposits of $20 000 and VIP Account with minimum deposits of $100 000. All leveraged at 1:300.Which meansTraders will have to deposit at least 500 USD if you want to open a trading account with this broker and that is about twice the amount most brokers would ask for. And besides, bear in mind that some big well established companies do not even have a minimum deposit requirement at all.

Because Moneotrade is still licensed by CySEC, the maximum leverage it can offer to its clients, when they trade forex, is 1:30. Actually this is the maximum leverage allowed on the European market since the European Securities and Markets Authority (ESMA) introduced its new guidelines in the summer of 2018. Still, if you are tempted to trade with higher leverage, you may also check our list of brokers regulated in Australia– the last major regulatory destination, where leverage remains unrestricted at WikiFX App.

Spreads & Commissions

With its Classic Account Moneotrade says to be offering spreads starting from 1,6 pips, which we find somewhat higher than what traders would usually consider attractive.

Trading Platform

At Moneotrade you have a choice between a downloadable PC version of the famous MetaTrader4 platform and a web based version. MetaTrader4 is well known to traders. It features numerous market indicators, an excellent set of advanced charting tools, as well as in- build trading robots, which will readily help you run algorithmic trading sessions.

Deposit & Withdrawal

Along with credit and debit cards like VISA and MasterCard, and bank wire at Moneotrade you can pay with some popular e-wallets like Neteller and Skrill. However, the broker does not accept crypto payments.

Broker Information

Company Name

AMFF Ltd

Company Abbreviation

MoneoTrade

Regulatory Status

No Regulation

Platform registered country and region

Cyprus

Phone of the company
  • +44 203 151 5550

  • +33 (0) 1 42 76 56 88

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Customer Service Email Address
  • info@moneotrade.com

Company Summary

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