Monstrade
Abstract：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.
| MonstradeReview Summary | |
| Founded | 2021 |
| Registered Country/Region | Serbia |
| Regulation | FCA (Exceeded） |
| Market Instruments | 100+, forex, commodities, cryptocurrencies, indices, stocks, ETFs, bonds |
| Demo Account | ✅ |
| Leverage | Up to 1:500 |
| Spread | From 1.6 pips (Cent account) |
| Trading Platform | MeteTrader 5 |
| Min Deposit | $100 |
| Customer Support | 24/5 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.
Pros and Cons
| Pros | Cons |
|
|
|
|
| |
|
Is Monstrade Legit?
No, Monstrade is not regulated, and the current regulatory status is exceeded.
| Regulatory Agency | Financial Conduct Authority (FCA) |
| Regulatory Status | Exceeded |
| Regulated by | United Kingdom |
| Licensed Institution | MONSTRADE FINANCIAL LTD |
| Licensed Type | Common Business Registration |
| Licensed Number | 15234169 |
Besides, it offers some security measures, such as negative balance protection, compensation fund of the financial commission, and civil liability insurance program.
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 | ✔ |
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.
Leverage
| Financial Product Category | Account Type | Asset Range (USD) | Leverage |
|---|---|---|---|
| Foreign Exchange, Precious Metals | ECN | < $1,000 | 1:500 |
| PRIME | < $1,000 | 1:500 | |
| CLASSIC | < $1,000 | 1:300 | |
| ECN | $$1,000 -$$10,000 | 1:500 | |
| PRIME | $$1,000 -$$10,000 | 1:500 | |
| CLASSIC | $$1,000 -$$10,000 | 1:500 | |
| ECN | $$10,000 -$$50,000 | 1:500 | |
| PRIME | $$10,000 -$$50,000 | 1:500 | |
| CLASSIC | $$10,000 -$$50,000 | 1:500 | |
| ECN | $$50,000 -$$100,000 | 1:300 | |
| PRIME | $$50,000 -$$100,000 | 1:300 | |
| CLASSIC | $$50,000 -$$100,000 | 1:200 | |
| ECN | > $100,000 | 1:300 | |
| PRIME | > $100,000 | 1:200 | |
| CLASSIC | > $100,000 | 1:100 | |
| Indices, Commodities, Bonds | All Accounts | < $250,000 | 1:100 |
| All Accounts | $$250,000 -$$500,000 | 1:50 | |
| All Accounts | > $500,000 | 1:20 | |
| Cryptocurrencies | BTC/USD | < $25,000 | 1:50 |
| Other Cryptocurrencies | < $25,000 | 1:20 | |
| BTC/USD | > $25,000 | 1:25 | |
| Other Cryptocurrencies | > $25,000 | 1:5 | |
| Stocks | All Accounts | All Asset Ranges | 1:10 |
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 Type | Spread | Commission |
| Demo | From 1.0 pips | ❌ |
| Cent | From 1.6 pips | ❌ |
| Classic | From 1.6 pips | ❌ |
| Prime | From 0.8 pips | ❌ |
| ECN | From 0.6 pips | ❌ |
| Islamic | From 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.
| COMPUTER | PHONE | MONSTAR | TABLET |
| MT 5 for PC | MT 5 for Apple | Monstar for Apple | MT 5 for Ipad |
| MT5 for Mac | MT5 for Android | Monstar for Android | MT5 for Android |
| MT5 Web Trader |
Deposit and Withdrawal
Monstrade accepts MasterCard, VISA, Perfect Money, Neteller, etc. The minimum deposit for Monstrade is 100 USD.
WikiFX Broker
Latest News
Core inflation rate rose to 2.7% in May, more than expected, Feds preferred gauge shows
WikiFXCore inflation rate rose to 2.7% in May, more than expected, Fed's preferred gauge shows
WikiFXStablecoins go mainstream: Why banks and credit card firms are issuing their own crypto tokens
WikiFXThe Shame of Being Scammed: Don't Ever Stay Silent
WikiFXCapital.com Launches $1 Million EU Client Insurance to Enhance Investor Safety
WikiFXThe five most investment-risky brokers in Malaysia
WikiFXCitibank Sued in $20M Romance Scam Tied to Fraudulent Transfers
WikiFXTreasury yields inch higher as investors await the Fed's preferred inflation print
WikiFXThink Before You Trade! Unlicensed Brokers List Inside
WikiFX5 Reasons to Stay Away from Core Prime Markets
WikiFXRate Calc
