According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- No
- ModMount WebTrader
- FSA (Seychelles)
- 2022
Our Evaluation of ModMount
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
ModMount is a moderate-risk broker with the TU Overall Score of 5.23 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by ModMount clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Brief Look at ModMount
ModMount Services Limited operates under the regulatory oversight of the Financial Services Authority (FSA) in Seychelles, holding license number SD119. ModMount's mission is dedicated to delivering top-tier services to each client. The company prioritizes offering unparalleled comfort along with premium trading conditions, such as tailor-made accounts, real-time market updates, round-the-clock access to the market through web and mobile trading, and a range of other valuable features.
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TU Expert Advice
Author, Financial Expert at Traders Union
ModMount facilitates trading CFDs on Forex, commodities, stocks, indices, and cryptocurrencies, utilizing its ModMount WebTrader platform. The broker supports multiple account tiers, accommodating different trading expertise, and provides leverage up to 1:400. Advantages include seamless cross-platform order execution and educational resources that enrich user experience. ModMount features one-click trading and offers Trading Central for informed trading decisions.
However, ModMount operates under the Seychelles FSA regulation, which may not be as stringent as other regulatory authorities. The broker also charges above-average Forex trading fees and applies withdrawal and inactivity fees. These aspects may not be ideal for cost-conscious traders. Overall, ModMount is more suited to experienced traders comfortable with its fee structure and regulatory oversight.
ModMount Trading Conditions
💻 Trading platform: | ModMount WebTrader |
---|---|
📊 Accounts: | CLASSIC, SILVER, GOLD, PLATINUM, VIP |
💰 Account currency: | EUR/USD/JPY |
💵 Deposit / Withdrawal: | Credit/Debit Cards, Wire Transfer and APMs. |
🚀 Minimum deposit: | None |
⚖️ Leverage: | up to 1:400 |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0.01 |
💱 EUR/USD spread: | 0,4-0,7 pips |
🔧 Instruments: | CFD Products Indices, Forex, Crypto, Stocks, Commodities |
💹 Margin Call / Stop Out: | 100/20% |
🏛 Liquidity provider: | No |
📱 Mobile trading: | No |
➕ Affiliate program: | Yes |
📋 Order execution: | NDD |
⭐ Trading features: | No |
🎁 Contests and bonuses: | No |
ModMount stands out as a prime broker, specializing in VIP-class services for trading CFDs across Forex, commodities, stocks, indices, cryptocurrencies, and precious metals. The company prioritizes a dependable and user-friendly trading environment, employing cutting-edge solutions.
At ModMount, they take pride in facilitating a seamless experience for its users. ModMount offers effortless registration, demo accounts for practice, and personalized live accounts spanning various levels. The platform supports cross-platform trade order execution, ensuring high-speed market access. Features like one-click trading and a wealth of educational materials further enhance the trading journey. The company offers access to Trading Central to help traders make more effective decisions.
Comprising a team of dedicated professionals, ModMount is driven by the vision of delivering top-tier services to traders and investors on a global scale.
ModMount Key Parameters Evaluation
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Regulation and safety
ModMount has a safety score of 8.2/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Negative balance protection
- Track record of less than 8 years
ModMount Regulators and Investor Protection
Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
---|---|---|---|---|
|
Cyprus Securities and Exchange Commission | Cyprus | Up to €20,000 | Tier-1 |
|
Financial Services Authority of Seychelles | Seychelles | No specific fund | Tier-3 |
ModMount Security Factors
Foundation date | 2022 |
Negative balance protection | Yes |
Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker ModMount have been analyzed and rated as High with a fees score of 3/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- Volume-based discounts
- Above-average Forex trading fees
- No ECN/Raw Spread account
- Inactivity fee applies
- Deposit fee applies
- Withdrawal fee applies
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of ModMount with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, ModMount’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
ModMount Standard spreads
ModMount | Pepperstone | OANDA | |
EUR/USD min, pips | 0,4 | 0,5 | 0,1 |
EUR/USD max, pips | 0,7 | 1,5 | 0,5 |
GPB/USD min, pips | 0,5 | 0,4 | 0,1 |
GPB/USD max, pips | 0,9 | 1,4 | 0,5 |
Does ModMount support RAW/ECN accounts?
As we discovered, ModMount does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with ModMount. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
ModMount Non-Trading Fees
ModMount | Pepperstone | OANDA | |
Deposit fee, % | 0-1 | 0 | 0 |
Withdrawal fee, % | 3,5 | 0 | 0 |
Withdrawal fee, USD | 30 | 0 | 0-15 |
Inactivity fee ($, per month) | 100-500 | 0 | 0 |
Deposit and withdrawal
ModMount received a Low score for the efficiency and convenience of its deposit and withdrawal processes.
ModMount offers limited payment options and accessibility, which may impact its competitiveness.
- BTC available as a base account currency
- Bitcoin (BTC) accepted
- Low minimum withdrawal requirement
- Bank wire transfers available
- Minimum deposit above industry average
- Only major base currencies available
- PayPal not supported
What are ModMount deposit and withdrawal options?
ModMount offers a limited selection of deposit and withdrawal methods, including Bank Card, Bank Wire, BTC, USDT, Ethereum. This limitation may restrict flexibility for users, making ModMount less competitive for those seeking diverse payment options.
ModMount Deposit and Withdrawal Methods vs Competitors
ModMount | Plus500 | Pepperstone | |
Bank Wire | Yes | Yes | Yes |
Bank card | Yes | Yes | Yes |
PayPal | No | Yes | Yes |
Wise | No | No | No |
BTC | Yes | No | No |
What are ModMount base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. ModMount supports the following base account currencies:
What are ModMount's minimum deposit and withdrawal amounts?
The minimum deposit on ModMount is $250, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact ModMount’s support team.
Markets and tradable assets
ModMount offers a limited selection of trading assets compared to the market average. The platform supports 160 assets in total, including 45 Forex pairs.
- Crypto trading
- Copy trading platform
- 45 supported currency pairs
- No ETFs
- Futures not available
Supported markets vs top competitors
We have compared the range of assets and markets supported by ModMount with its competitors, making it easier for you to find the perfect fit.
ModMount | Plus500 | Pepperstone | |
Currency pairs | 45 | 60 | 90 |
Total tradable assets | 160 | 2800 | 1200 |
Stocks | No | Yes | Yes |
Commodity futures | Yes | Yes | Yes |
Crypto | Yes | Yes | Yes |
Stock indices | Yes | Yes | Yes |
Options | No | Yes | No |
Investment options
We also explored the trading assets and products ModMount offers for beginner traders and investors who prefer not to engage in active trading.
ModMount | Plus500 | Pepperstone | |
Bonds | No | No | No |
ETFs | No | Yes | Yes |
Copy trading | Yes | No | Yes |
PAMM investing | No | No | Yes |
Managed accounts | No | No | No |
Contacts
Foundation date | 2022 |
---|---|
Registration address | Room B11, First Floor, Providence Complex, Providence, Mahe, Seychelles |
Regulation |
FSA (Seychelles)
Licence number: SD119 |
Official site | https://www.modmountltd.com/ |
Contacts |
+2484632002
|
Comparison of ModMount with other Brokers
ModMount | Bybit | Eightcap | XM Group | LiteFinance | 4XC | |
Trading platform |
ModMount WebTrader | MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, MultiTerminal, Sirix Webtrader | MT5, MT4, WebTrader |
Min deposit | No | No | $100 | $5 | $10 | $50 |
Leverage |
From 1:1 to 1:400 |
From 1:1 to 1:500 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:1000 |
From 1:1 to 1:500 |
Trust management | No | No | No | No | Yes | Yes |
Accrual of % on the balance | No | No | No | No | 7.00% | No |
Spread | From 0 points | From 0 points | From 0 points | From 0.8 points | From 0.5 points | From 0 points |
Level of margin call / stop out |
100% / 20% | No / 50% | 80% / 50% | 100% / 50% | 50% / 20% | 100% / 50% |
Order Execution | NDD | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution |
No deposit bonus | No | No | No | No | No | $50 |
Cent accounts | No | No | No | No | Yes | No |
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