Forex brokerage Moneta Markets is going it alone, the company announced Tuesday. Its management team has secured the investor backing to allow it to become an independent FX broking entity, stepping out from under the umbrella of Vantage. Moneta also confirmed that it has now received regulatory permissions from the Australian Securities & Investments Commission. Consequently it will be able to provide FX and CFD trading services to clients in Australia.
Moneta Markets began life as a trading platform under the Vantage FX regulatory and operational umbrella. It offered a wide range of markets from the off, including FX, cryptocurrencies and CFDs for equities. At the time, in July 2020, founder David Bily called it a “massive project” to get off the ground. Moneta was designed to provide the sort of service traders were really looking for.
Bily was ebullient this week on the news that Moneta Markets was now independent and able to offer its services to clients in Australia. “It’s been a long time coming, but I’m excited to announce that we have separated from the Vantage Group, and now finally have licenses and authorisation of our own to operate as an independent entity,” he said.
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Moneta Markets already has a regulatory license to operate in the South African market and provides offshore trading services from a regulatory license in the Caribbean.
David Bily was previously a key part of the Vantage team, having spent 10 years there operating out of the firm’s Sydney office. Prior to that he was an FX and CFD trading advisor with Halifax FC, also in Sydney.
Moneta Markets is offering traders a full suite of markets, including forex, commodities, indices, share CFDs and Exchange Traded Funds. The broker also supports MetaTrader 4. Among its popular services is the ability to trade gold with zero swaps, allowing traders to access the gold market with ECN spreads and zero swap fees on both long and short gold trades.
Moneta is also offering traders a Rescue Bonus helping them to cope with the bigger price swings we are currently seeing in financial markets. Traders who lose 75% or more of their initial deposit of $1000 or more are provided with a 25% rescue bonus.
You can find The Armchair Trader’s list of established, regulated CFD and Forex brokers here.