Moneta Markets is a new brand that is part of the parent Vantage Group. Vantage Group, which offers traders the MetaTrader range of platforms, as well as basic mobile and web applications. While it has the majority of third-party functions, Moneta Markets has lacklustre educational and research options, and pricing is typical. Let’s look into the moneta broker review and learn about the market.
Do Moneta Markets safe?
Moneta Markets is considered average-risk and has an overall Trust score of 83 out of 99. Moneta Markets is not listed on the stock exchanges; it is not a bank and is authorized by two regulators of tier-1 (high trust) and no Tier-2 regulatory authorities (average trust) and one Tier-3 regulation (low trust). Moneta Markets is authorized
Moneta Markets offers the MetaTrader suite of platforms (from the brand’s parent company) and its own basic AppTrader mobile application. Moneta Markets’ AppTrader mobile application is basic, and MetaTrader does not include any extra accessories beyond the standard platform suite, which makes Moneta Markets a laggard compared to the top MetaTrader brokers.
Apps Overview: Moneta Markets provides its own AppTrader platform and the complete MetaTrader portable platform (MT4 and MT5) and MT5, all of which are accessible via Google Play for Android and on Apple’s App Store for iOS devices.
AppTrader was created by PandaTS, the same developer who helps to power the Moneta Markets platform on the web, and MetaTrader was created through MetaQuotes Software Corporation.
User-friendly: Though AppTrader is user-friendly, however, there’s not much happening within the app, and there’s still an opportunity to make improvements. I’d like to have Moneta Markets mirror some of the features available on the web platform in its AppTrader mobile application to improve the user experience across different devices.
Charting: The charts in AppTrader seem to be similar to those within the Web version. However, there are no indicators, and there are no drawing tools. Charts are also unable to be rotated into landscape mode, and watchlists don’t sync in the same way as the website version. To give you an example, Saxo Bank and TD Ameritrade (U.S. citizens only) are examples of brokerages that have almost perfected their art of creating a synced experience for all platforms (even trend lines can be seamlessly synced across all platforms).
Moneta Markets provides access to excellent third-party information through Trading Central but does not offer much in the form of in-house research. This means that it is behind the industry standard in this area and is far in comparison to research-leading Saxo Bank and IG.
Overview of research: Moneta Markets hosts videos from its Moneta TV series; however the research content it offers comes from a majority of third-party sources, such as the tools for research provided by Trading Central and streaming headlines from FxWirePro with very little in-house content.
Analysis and news on the market: Daily market briefings are available on the broker’s YouTube channel, which is part of the Moneta TV series powered by Trading Central. Both series of videos adhere to a standard daily format that provides a concise overview of the major market events. While they’re not the most appealing, they are short fragments of information that I found to be helpful and easy to understand. I would like to have these videos integrated into the trading platform, making them more accessible to traders.
Trading Central: Moneta Markets provides access to numerous third-party tools for research from Trading Central, such as Market Buzz, Featured Ideas, and the Economic Calendar. To gain access to the tools, however, customers must maintain their account balance at a minimum of $500. For example, some of the most reliable forex brokers provide such content and high-end tools for any live account holder. In addition, these tools aren’t fully integrated with the platform for trading.
Fundamental Forex Strategies for Trading
The most basic types of forex for beginners include a long trade and short trade. In a long-term trade, the trader bets that the currency’s price will rise shortly and that they will profit from the increase. Short trades are placing a bet that the pair’s value will decline shortly. The traders can also employ trading strategies based on analysis of technical aspects like moving average and breakout to refine their trading strategy.
Based on the length of time and the number of trades, the strategies are classified into four different kinds:
- A scalp market is a position held for up to 30 minutes or less, and the profits are limited to the amount of pip. These trades are believed to be cumulative, which means that the tiny profits earned from each trade can add up to a significant amount at the end of an entire day. They depend on the predictability of price fluctuations and cannot manage many fluctuations. So, traders generally limit trades in these most liquid pairs and during the busiest times in the morning.
- Day trades are only short-term trades, where positions are held and then liquidated on the same day. The time frame of a day trader may be either hours or minutes. Day traders need the ability to analyze technical data and an understanding of key technical indicators to maximize their profits. Similar to scalp trades, day trades depend on gains incrementally throughout the day to trade.
- In the case of a Swing trade in a swing trade, the trader will hold the position for that is longer than a day, i.e. they could keep the position for weeks or days. They can be beneficial in the event of major announcements made by governments or during times of economic turmoil. Because they have an extended time frame and are not a time-bound trade, they don’t need constant monitoring of trading markets during the course of the day. Alongside the technical aspects, swing traders are expected to be aware of the political and economic developments as well as their effect on the movement of currencies.
- In the case of a market in which a position is traded in a position trade, the buyer is able to hold the money for an extended period of time, which can last for weeks or years. This kind of transaction requires more fundamental analysis skills since it offers an explanation to the transaction.