Overview of Maunto
Maunto, registered in Saint Lucia in 2023, offers a wide array of tradable assets including indices, forex, cryptocurrencies, stocks, commodities, and metals. The broker introduces a range of account types - CLASSIC, SILVER, GOLD, PLATINUM, VIP - with a minimum deposit requirement of $250. It offers maximum leverage up to 1:400 for FX and varying levels for other assets. The Maunto WebTrader platform is their primary trading interface.
Pros & Cons
Maunto is characterized by its varied trading options and competitive spreads, which could appeal to traders looking for market diversity and cost-effective trading. The absence of deposit commissions and fees for the initial withdrawal further enhance its cost attractiveness. Additionally, the flexible withdrawal amounts through e-wallets offer convenience.
However, the withdrawal process may be considered protracted, potentially affecting liquidity. Moreover, inactivity and maintenance fees could increase the trading costs, as well as complex swap fees could impact profitability.
Is Maunto Legit?
No, it is unregulated by any famous regulatory authorities, like ASIC, or FSA.
Market Instruments
Maunto delivers an extensive array of trading instruments via CFDs, encompassing indices, forex, cryptocurrencies, stocks, commodities, and metals. Indices offer insights into broader market trends, Forex trading presents a rich selection of currency pairs highlighting the market's depth, and cryptocurrencies introduce a dynamic investment avenue. Additionally, stock trading capitalizes on company-specific movements, commodities provide a hedge against geopolitical shifts, and metals trading offers a traditional safeguard against economic fluctuations.
Account Types
This broker provides 5 distinct trading accounts: CLASSIC, SILVER, GOLD, PLATINUM, and VIP. The initial deposit requirement for all accounts is $250. The Classic account does not offer a swap discount, which is a disadvantage when compared to other account types where this benefit is available.
How to Open an Account with Maunto?
To start trading with Maunto, follow these steps: Firstly, navigate to their website and find the account creation section. Fill out the registration with your personal information and choose your preferred account type. Submit documents for verification, including ID and proof of residence. After verification, fund your account using the provided methods. You're then set to trade on the Maunto WebTrader platform across various assets.
Leverage
This broker offers the maximum trading leverage is up to 1:400 for forex trading, with adjusted levels for other assets such as up to 1:200 for Silver & Gold, Indices, Commodities, and up to 1:5 for Stocks/Equities.
Spreads & Commissions
The Classic and Silver accounts offer EUR/USD and GBP/USD spreads starting from 2.5 and 2.8 pips, respectively, aligning with the standard for retail forex trading. For more experienced traders, the Gold, Platinum, and VIP accounts provide progressively tighter spreads, with the VIP account offering the most competitive rates, such as a 0.9 pip spread on EUR/USD. Interestingly, Maunto extends its competitive edge with flexible spreads as low as 0.03 pips for Platinum and VIP accounts, and crude oil trading offers dollar-based spreads.
Maunto also charges zero deposit commissions across all account types.
Other Fees
Maunto applies various non-trading fees, including withdrawal fees, inactivity fees, maintenance fees, and swap fees.
The first withdrawal is free if the account is fully verified and has conducted at least one trade; otherwise, a $10 fee is applied. Subsequent withdrawals incur charges, such as 3.5% for card transactions and $30 for wire transfers.
Inactivity fees scale with the period of inactivity, starting from 100 EUR after one month, increasing to 500 EUR beyond six months.
A monthly maintenance fee of $10 is charged regardless of account activity.
Swap fees are incurred for positions held overnight, calculated daily and tripled on Wednesdays to cover the weekend. These fees vary by asset class, including Forex, Cryptocurrencies, Commodities, Indices, and Stocks.
Trading Platform
Maunto's WebTrader platform delivers an accessible and intuitive trading environment, enabling users to connect from any device. It features a straightforward interface for customizing alerts and analyzing trading performance, supporting strategic decision-making. Additionally, Maunto places a strong emphasis on security, incorporating high-level technological measures and encryption to ensure the safety of users' trading operations.
Deposit & Withdrawal
Maunto offers several methods for depositing and withdrawing funds, including Credit/Debit Cards, Wire Transfer, and APMs. Withdrawal minimums are set at 10 USD/1500 JPY for Credit Cards and 100 USD/15000 JPY for Wire Transfers, with e-wallets offering more flexibility on amounts, subject to fees. Withdrawals are processed within 8 to 10 business days, but timelines differ according to local bank procedures.
Education
Maunto says to offer comprehensive educational resources, from beginner basics to advanced strategies, including market insights, interactive courses, and real-world knowledge. However, the education center is locked, and if you want to access education materials, you have to sign up or log in.
Customer Support
24/5 Live Chat
Phone: +44 203 150 2 347
Email: support@maunto.com
Social media: Facebook, Instagram, Twitter, LinkedIn, YouTube
Conclusion
Operating since 2023 with offshore regulation, Maunto offers wide range of assets, competitive spreads, and no deposit fees are attractive. However, the platform's user-friendly features are marred by the costs through inactivity and maintenance fees, along with a slow withdrawal process.
Q&A
What types of assets can be traded on Maunto?
Maunto offers trading in indices, forex, cryptocurrencies, stocks, commodities, and metals.
What account types does Maunto provide?
CLASSIC, SILVER, GOLD, PLATINUM, VIP, each with a minimum deposit requirement of $250.
What is the maximum leverage available on Maunto?
The maximum leverage is up to 1:400 for forex and varies for other asset types.
Are there fees for deposits and withdrawals at Maunto?
There are no deposit commissions, and the first withdrawal is fee-free. Subsequent withdrawals will incur fees, and there are also inactivity and maintenance fees.
Are there any regional restrictions?
Yes. DtaWave Tech Ltd does not provide its services to residents of the Euorpean Union or any other jurisdiction where such distribution would be contrary to local news and regulations.
2024-11-05 14:25
