IC Markets vs Moneta Markets - Fees Review included
Which broker is better IC Markets or Moneta Markets? Our expert assessment conducted according to TU’s own methodology showed that IC Markets is one of the top brokers in the financial market with the TU Overall Score of 8.62 out of 10. Moneta Markets is one of the top brokers in the financial market with the TU Overall Score of 4.53 out of 10. Find out more about TU Overall Score.
| Feature | IC Markets | Moneta Markets |
|---|---|---|
Overall |
4.7 |
44806 |
5 |
2.7 |
|
4.9 |
3 |
|
4.6 |
3.4 |
|
Investment Instruments |
4.9 |
1.4 |
Platforms and Charting Tools |
4.4 |
2 |
Deposit and Withdrawal |
4.6 |
3.6 |
Research |
4.3 |
2.9 |
Education |
4.4 |
4.1 |
Support |
4.6 |
2.8 |
Bonuses |
2.5 |
4.2 |
|
|
|
IC Markets vs Moneta Markets: Pros and Cons
IC Markets Trading Company was founded in 2007 in Sydney, Australia. The broker is licensed under the Australian Financial Services License (AFSL) and the Australian Securities and Investment Commission (ASIC). The broker is also a member of the Australian Financial Complaint Authority (AFCA), the governing body that sets the industry standard for the resolution of disputes between consumers and financial service providers, and regularly undertakes audits.
Moneta Markets is a brokerage company that provides traders with the ability to trade over 300 Forex instruments. A distinctive feature of the broker is fast order execution. Moneta Markets clients have access to trading through the Moneta Markets Webtrader, a proprietary development of the company.specializing in Forex, CFDs, Commodities, Fibre Optic Communications and Fintech solutions for a global clientele.
| IC Markets | Moneta Markets | |
|---|---|---|
| Overall Pros | World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | Good bonus programs |
| Advanced ECN trading | Withdrawal fee - 0%. | |
| Order execution speed 40 mc | Copy trading avaible | |
| Free VPS | ||
| Trading servers in New York and London | ||
| Strong regulation | ||
| 2000+ trading assets, 60+ currency pairs | ||
| EURUSD Average spread 01 pip | ||
| Overall Cons | No forex bonuses | Support is not 24/7. |
| World biggest Forex broker, over 180,000 clients and $1.11 trln monthly turnover in 2022 | No cent accounts |
IC Markets vs Moneta Markets: Safety and Regulation
| Regulated By: | IC Markets | Moneta Markets |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
AFCA (Australia) |
No |
Other Regulators |
Yes |
VFSC |
IC Markets vs Moneta Markets: Trading Conditions
| Trading Conditions | IC Markets | Moneta Markets |
|---|---|---|
Minimum Deposit |
$200 |
$50 |
Trading Platforms |
MT4, MT5, cTrader |
MT4, MT4 Mobile platform, MT5, MT5 Mobile platform, WebTrader, AppTrader |
Max Leverage (Futures) |
1-500 |
1-500 |
Supported Markets |
Forex, futures, CFDs on indices, commodities, metals, stocks and bonds |
Forex, Indices, Commodities, Share CFDs |
Trading assets |
2000+ |
300+ |
Trading Accounts |
cTrader, Raw Spread, Standard |
Moneta STP, Moneta ECN, Moneta PRIME |
Base Account Currencies |
USD, AUD, GBP, CHF, JPY, NZD, SGD, CAD, HKD, BTC |
USD, EUR, GBP, AUD, SGD, CAD, NZD, JPY, HKD |
IC Markets vs Moneta Markets: Fees
Forex Trading Fees
| Fee | IC Markets | Moneta Markets |
|---|---|---|
Standard Account EURUSD Average Spread |
0.62 pips |
2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$3 per lot |
$0 |
ECN Account EUR Average Spread |
0.02 pip |
0.8 pips |
CFD Trading Fees
| Fee | IC Markets | Moneta Markets |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | IC Markets | Moneta Markets |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
IC Markets vs Moneta Markets: Trading Assets
| Asset Name | IC Markets | Moneta Markets |
|---|---|---|
Overall |
2000+ trading assets |
300+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
No |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
No |
Bonds |
Yes (CFD) |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
IC Markets or Moneta Markets: Investment Programs
| Asset Name | IC Markets | Moneta Markets |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Moneta Markets or IC Markets
| IC Markets | Moneta Markets | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
Yes |
No |
Appropriate platform |
IC Markets terminal |
No |
Others |
No |
No |
|
|
|
IC Markets vs Moneta Markets: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IC Markets | Moneta Markets |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
IC Markets vs Moneta Markets: Research
| Research Type | IC Markets | Moneta Markets |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
IC Markets vs Moneta Markets: Education
| Education Type | IC Markets | Moneta Markets |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
Yes |
Cent account |
No |
No |
Moneta Markets vs IC Markets: Support
| Support Features | IC Markets | Moneta Markets |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
IC Markets vs Moneta Markets: Forex Bonuses and Promo
| Promo | IC Markets | Moneta Markets |
|---|---|---|
Forex Bonus |
Not offered |
50% Deposit Bonus; If you have lost 75% or greater of your initial deposit of $1000 or more, we will give you a 25% rescue bonus |
Affiliate Program |
% of trading commissions |
Moneta Markets affiliates can earn up to $1200 CPA |
Other Promos |
||
|
|
|
Top 5 Reviews on Moneta Markets
-
Comment
At the moment, it is very difficult to find a normal broker and not fall for a scammer. Moneta Markets is one of the most stable brokers. Their terminal never gives errors, everything works fine, the execution is the best I've ever seen. It says only one thing - the company is honest!
-
Comment
I have been looking for a company that would meet all my requirements for a long time and finally found it. This Moneta Markets. Nothing is a problem here. Neither execution nor output. In addition, there is a very friendly and responsible support. I can wholeheartedly recommend this company!
-
Comment
At Moneta Markets, I tried the demo first. In principle, a few days were enough for a general understanding of the speed of the terminal and the execution of orders. In order to test the real conditions of the broker with minimal losses, I opened an STP account. The deposit on it is $50. ECN requires $200, so the choice was clear. Moneta Markets allows hedging and scalping. Robots and EAs are also not prohibited, but I did not connect them to STP, because the speed is definitely not enough. There are only 44 currency pairs, 6 cryptocurrencies in general. But there are more than 220 CFDs on shares. The minimum spreads for majors are around 1.3 points. But such values were rare, but the typical spreads for the Eurodollar are 2-2.5 points.
Top 5 Reviews on IC Markets
-
Comment
I decided to use the services of IC Markets not long ago. Now I think that not all negative reviews are justified. This is a good broker and I have already withdrawn profits several times, everything went without problems. IC Markets’ rates differ from those of other brokers. But you can adapt to this problem.
-
Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them oliviatrader 44 at gmail com WhatApp +1 (423) 248 - 2140
-
Comment
I was looking for a reliable broker and noticed the long existence and good reputation of ICMarkets. Moreover, my friend, who has been trading for a long time, recommended contacting them. After several years, I have become a more experienced trader and I am satisfied with the work of the broker.
-
Comment
I have been trading with IC Markets for some time now and I can draw some conclusions. The platform works stably, which indicates a serious approach to its work. Spreads are quite optimal, although for cryptocurrencies they are higher than average as compared to those of its competitors. Slippages occur, there is nothing you can do about it. But there are no problems with requotes at all. In general, I think it’s possible to rate IC Markets “good”.
-
Comment
There are many advantages to IC Markets broker. First, of course, is the presence of a license from a reputable regulator. Accounts can be opened for citizens of many countries. Second, the platform works very well. Order execution speed is high, and you can actively trade manually or with the help of an advisor. I am quite satisfied with IC Markets as a broker.
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.