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Score

2.60 /10
Danger

Monstrade

Serbia

2-5 years

Regulated in United Kingdom

Common Business Registration

MT5 Full License

Regional Brokers

Suspicious Overrun

Medium potential risk

https://monstrade.co

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Score

Regulatory Index1.25

Business Index5.30

Risk Management Index0.00

Software Index7.73

License Index1.25

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VPS Standard
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Broker Information

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Company Name

Monstrade Global Ltd

Company Abbreviation

Monstrade

Platform registered country and region

Serbia

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Warning: Low score, please stay away!
Previous Detection : 2025-01-09
  • This broker exceeds the business scope regulated by United Kingdom FCA(license number: 15234169)Common Business Registration Non-Forex License. Please be aware of the risk!

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Monstrade · Company summary
MonstradeReview Summary
Founded2021
Registered Country/RegionSerbia
RegulationFCA (Exceeded）
Market Instruments100+, forex, commodities, cryptocurrencies, indices, stocks, ETFs, bonds
Demo Account✅
LeverageUp to 1:500
SpreadFrom 1.6 pips (Cent account)
Trading PlatformMeteTrader 5
Min Deposit$100
Customer Support24/5 Live chat, contact form
Email: support@monstrade.com
All Language Support: +44 7450 1258 93
Social media: Telegram, Facebook, YouTube, Twitter
Registration Address: Antifašističke borbe 29-E, Belgrad 11070, Serbia
Representative Office: Str. Kozara No:68-2/6 1000 Skopje / North Macedonia

Monstrade is an unregulated broker registered in Serbia, offering trading on forex, commodities, cryptocurrencies, indices, stocks, ETFs, and bonds with leverage up to 1:500 and spread from 0.6 pips via the popular MT5 trading platform.

Monstrades homepage

Pros and Cons

ProsCons
  • Diverse Market Instruments
  • High Spreads for the Cent Account
  • Demo Account Availability
  • No MT4
  • Multiple Account Types
  • MT5 Supported

Is Monstrade Legit?

No, Monstrade is not regulated, and the current regulatory status is exceeded.

Regulatory AgencyFinancial Conduct Authority (FCA)
Regulatory StatusExceeded
Regulated byUnited Kingdom
Licensed InstitutionMONSTRADE FINANCIAL LTD
Licensed TypeCommon Business Registration
Licensed Number15234169
Exceeded FCA license

Besides, it offers some security measures, such as negative balance protection, compensation fund of the financial commission, and civil liability insurance program.

Security of client's funds

What Can I Trade on Monstrade?

MonsTrade offers a variety of product types, including forex, commodities, cryptocurrencies, indices, stocks, ETFs, and bonds.

Tradable Instruments Supported
Forex✔
Commodities✔
Indices✔
Stocks✔
Cryptocurrencies✔
Bonds✔
Options❌
ETFs✔
What Can I Trade on Monstrade?

Account Type

Monstrade offers 6 account types to suit different trading needs, including a Demo Account and an Islamic Account.

Demo Account: The minimum deposit requirement for Demo Account is $100. It provides an opportunity for beginners without experience to practice trading without the fear of financial loss.

Cent Account: With a minimum deposit requirement of $100, Cent Account is tailored for those who have a basic grasp of the platform and want to try actual operations.

Classic Account: With a minimum deposit requirement of $100, this account is a standard trading account catering to a broad range of traders. It is designed for those who have enough trading experience.

Prime Account: Prime Account is geared towards traders seeking enhanced features and benefits, such as lower spreads and priority support. The minimum deposit requirement for this account is $2500.

ECN Account: With a minimum deposit requirement of $10000, this account is designed for market professionals in exclusive conditions.

Islamic Account: With a minimum deposit requirement of $15000, this account is charged a fixed forex commission. It is designed to accommodate traders who adhere to Islamic principles, which prohibit the payment or receipt of interest.

Account comparison
Account comparison

Leverage

Financial Product CategoryAccount TypeAsset Range (USD)Leverage
Foreign Exchange, Precious MetalsECN< $1,0001:500
PRIME< $1,0001:500
CLASSIC< $1,0001:300
ECN$$1,000 -$$10,0001:500
PRIME$$1,000 -$$10,0001:500
CLASSIC$$1,000 -$$10,0001:500
ECN$$10,000 -$$50,0001:500
PRIME$$10,000 -$$50,0001:500
CLASSIC$$10,000 -$$50,0001:500
ECN$$50,000 -$$100,0001:300
PRIME$$50,000 -$$100,0001:300
CLASSIC$$50,000 -$$100,0001:200
ECN> $100,0001:300
PRIME> $100,0001:200
CLASSIC> $100,0001:100
Indices, Commodities, BondsAll Accounts< $250,0001:100
All Accounts$$250,000 -$$500,0001:50
All Accounts> $500,0001:20
CryptocurrenciesBTC/USD< $25,0001:50
Other Cryptocurrencies< $25,0001:20
BTC/USD> $25,0001:25
Other Cryptocurrencies> $25,0001:5
StocksAll AccountsAll Asset Ranges1:10
Leverage details

Monstrade Fees

Monstrades fees are comparatively lower than the industry standard. Monstrade's fee structure revolves around variable spreads without additional commissions across all account types.

Spreads start from 1.0 pips for demo accounts and 0.6 pips for the ECN account, but they can potentially widen as market volatility increases.

Account TypeSpreadCommission
DemoFrom 1.0 pips❌
CentFrom 1.6 pips❌
ClassicFrom 1.6 pips❌
PrimeFrom 0.8 pips❌
ECNFrom 0.6 pips❌
IslamicFrom 1.2 pips❌

Trading Platform

Monstrade uses MetaTrader 5 as the trading platform. MetaTrader 5 (MT5) is an advanced and versatile trading platform suitable for both novice and experienced traders.

COMPUTERPHONEMONSTARTABLET
MT 5 for PCMT 5 for AppleMonstar for AppleMT 5 for Ipad
MT5 for MacMT5 for AndroidMonstar for AndroidMT5 for Android
MT5 Web Trader
MT5

Deposit and Withdrawal

Monstrade accepts MasterCard, VISA, Perfect Money, Neteller, etc. The minimum deposit for Monstrade is 100 USD.

Payment options

User Reviews

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User comment

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Comments

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Xukar
more than one year
Monstrade's got some good leverage options, and they offer a lot of different things to trade, which is cool. It's easy to find something that fits your style. Overall, I'm liking Monstrade so far.
Monstrade's got some good leverage options, and they offer a lot of different things to trade, which is cool. It's easy to find something that fits your style. Overall, I'm liking Monstrade so far.
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2024-07-09 18:30
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EXOKAY
more than one year
It has a great platform. Very easy to use. The e-mail response and support is very fast as well. I was facing some difficulties in setting up my account. Diego Bottigliero helped me out.
It has a great platform. Very easy to use. The e-mail response and support is very fast as well. I was facing some difficulties in setting up my account. Diego Bottigliero helped me out.
Translate to English
2024-06-21 11:27
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