To open an account with Moneta Markets, follow these steps:
- Visit the Moneta Markets Website: Go to the Moneta Markets homepage and click on the “Open a Live Account” button.
- Register Your Account: Fill out the registration form with your personal details, including your full name, email address, phone number, and preferred account base currency. You’ll also need to create a password for your account.
- Complete the KYC Process: After registering, you’ll be prompted to complete the Know Your Customer (KYC) verification. This involves uploading documents like a government-issued ID (passport, driver’s license) and proof of address (utility bill, bank statement). Moneta Markets will review these documents to verify your identity.
- Fund Your Account: Once your KYC is approved, you can deposit funds into your account. The minimum deposit starts at $50 for most accounts. Choose from a variety of funding methods like credit/debit cards, bank transfers, and e-wallets.
- Start Trading: After funding, your account will be active and ready for trading. You can access the trading platforms offered by Moneta Markets, including MetaTrader 4, MetaTrader 5, and PRO Trader, to start trading various instruments like forex, commodities, indices, and more.
Different Types of Accounts on Moneta Markets
Moneta Markets offers three main types of trading accounts, each designed to cater to different trading styles and levels of experience:
- Direct STP Account:
- Best For: Beginners and general traders.
- Features: This account offers Straight-Through Processing (STP) execution, which means orders are sent directly to the market without dealer intervention. It provides access to 44 forex pairs, 30+ crypto CFDs, commodities, indices, and more. Spreads start from 1.2 pips, and there are no commissions on trades.
- Minimum Deposit: $50.
- Leverage: Up to 1000:1.
- Prime ECN Account:
- Best For: Scalpers and traders using Expert Advisors (EAs).
- Features: This account type uses Electronic Communication Network (ECN) execution, offering tighter spreads starting from 0.0 pips. However, it comes with a commission of $3 per lot per side. Like the Direct STP account, it also provides access to a broad range of markets.
- Minimum Deposit: $50.
- Leverage: Up to 1000:1.
- Ultra ECN Account:
- Best For: Professional traders and money managers.
- Features: The Ultra ECN account offers the most competitive trading conditions with spreads starting from 0.0 pips and the lowest commission of $1 per lot per side. This account type is designed for those with higher capital and more experience.
- Minimum Deposit: $20,000.
- Leverage: Up to 1000:1.
Minimum Deposit on Moneta Markets
The minimum deposit required to open an account with Moneta Markets depends on the type of account you choose:
- Direct STP and Prime ECN Accounts: The minimum deposit for these accounts is $50. This low barrier to entry makes it accessible for beginner traders or those looking to start with a smaller capital.
- Ultra ECN Account: The minimum deposit for this account is significantly higher, at $20,000. This account is tailored for professional traders and those with larger trading capital who require the most competitive trading conditions.
Countries That Can and Cannot Open an Account on Moneta Markets
The minimum deposit required to open an account with Moneta Markets depends on the type of account you choose:
- Direct STP and Prime ECN Accounts: The minimum deposit for these accounts is $50. This low barrier to entry makes it accessible for beginner traders or those looking to start with a smaller capital.
- Ultra ECN Account: The minimum deposit for this account is significantly higher, at $20,000. This account is tailored for professional traders and those with larger trading capital who require the most competitive trading conditions.
Moneta Markets allows account openings from a wide range of countries, but there are some restrictions based on local regulations.
Countries Where You Can Open an Account:
Moneta Markets is available in numerous countries across Europe, Asia, Africa, and Oceania. Key markets include:
- Australia
- United Kingdom
- Germany
- India
- South Africa
- Malaysia
- New Zealand
- Singapore
These regions benefit from the full range of Moneta Markets services, including high leverage options, multiple account types, and a wide variety of tradable assets.
Countries Where You Cannot Open an Account:
There are certain countries where Moneta Markets does not operate, primarily due to regulatory constraints. Notable restrictions include:
- United States: Due to stringent regulations by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA), Moneta Markets does not offer its services to U.S. residents.
- Canada: Similar to the U.S., Canada’s strict regulatory environment limits the availability of Moneta Markets.
- Japan: Japanese regulations require brokers to be locally licensed, which Moneta Markets does not hold.
- Iran: Due to international sanctions, Moneta Markets does not provide services to residents of Iran.
- North Korea: Like Iran, international sanctions prevent Moneta Markets from operating in North Korea.