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Monecor -

Score

1.38 /10
Danger

Monecor

Germany

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

Suspicious Overrun

High potential risk

https://monecorlimited.com

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Score

Regulatory Index0.00

Business Index5.99

Risk Management Index0.00

Software Index4.00

License Index0.00

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Warning: Low score, please stay away! 6
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United KingdomFCA regulation (license number: 186171) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Monecor · Company summary
Monecor Review Summary
Founded2-5 years
Registered Country/RegionGermany
RegulationSuspicious Clone
Market InstrumentsForex, Stocks, Indices, Cryptocurrencies, Commodities
Demo AccountNot mentioned
LeverageNot mentioned
SpreadFrom 0.1 pips
Trading PlatformMonecor Limited(Android and iOS)
Min DepositNot mentioned
Customer SupportPhone: +49 30520077630
Email: support@monecorlimited.com

Monecor Information

Monecor is a broker. The tradable instruments, with three account types, such as Fixed, Classic, and Raw accounts, include forex, stocks, indices, cryptocurrencies, and commodities. The minimum spread is from 0.1 pips. Monecor is still risky due to its suspicious clone status and unclear fee situation due to its closed official website.

Monecor Information

Pros and Cons

Pros Cons
Various tradable instruments: Forex, Stocks, Indices, etc.Suspicious Clone
24/5 customer supportInaccessible official website
Fees unclear

Is Monecor Legit?

Monecor is a suspicious clone, even though it claims to be regulated by FCA, CySEC, DFSA, and CIMA. However, the broker is not as safe as a regulated one.

Is Monecor Legit?
Is Monecor Legit?
Is Monecor Legit?
Is Monecor Legit?
Is Monecor Legit?
Is Monecor Legit?

What Can I Trade on Monecor?

Monecor provides traders with various trading options involving forex, stocks, indices, cryptocurrencies, and commodities.

Tradable Instruments Supported
Forex✔
Commodities✔
Stocks✔
Cryptocurrencies✔
Indices✔
Shares❌
ETFs❌
Bonds❌
Mutual Funds❌
What Can I Trade on Monecor?

Account Type

Monecor currently has 3 types of trading accounts, which traders can choose to open one of them, including Fixed, Classic, and Raw accounts. Traders who prefer low spreads can open raw accounts, while Fixed and Classic accounts are more suitable for investors who mind commissions.

Account Type FixedClassicRaw
SpreadsFrom 1.8 pipsFrom 1.8 pips(variable)From 0.1 pips(raw)
CommissionFreeFree$4 per round
Account Type

Monecor Fees

The spread starts at 0.1 pips and the Fixed and Classic accounts are commission-free. However, if you open a raw account, you will be charged a commission of $4 per round.

Trading Platform

Monecor develops proprietary built-in platforms, Monecor Limited, for Android and iOS instead of authoritative MT4/MT5.

Trading PlatformSupported Available Devices
Monecor Limited✔Android and iOS
Trading Platform
Trading Platform

Customer Support Options

Monecor provides 24/5 customer support, and traders can contact Monecor via phone and email.

Contact Options Details
Phone +49 30520077630
Email support@monecorlimited.com
Supported Language English
Website Language English
Physical Address Deutschland Frankfurt,Schillerstr 15-17.60313Frankfurt/Main

User Reviews

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Comments

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FX1123415302
more than one year
Every good review was from traders who just opened a trading account. No one was happy after a few months because once you invest your money in this platform, you will never see them again!
Every good review was from traders who just opened a trading account. No one was happy after a few months because once you invest your money in this platform, you will never see them again!
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2022-12-10 22:18
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FX1109763669
more than one year
Trust me, another liar. Bonus can only be withdrawn after meeting high minimum traded volume requirements-25 times the bonus amount plus the deposit. They are typical liars, and this is their typical scam trap.
Trust me, another liar. Bonus can only be withdrawn after meeting high minimum traded volume requirements-25 times the bonus amount plus the deposit. They are typical liars, and this is their typical scam trap.
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2022-12-05 18:57
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