Moneta Markets vs RoboForex

Moneta Markets or RoboForex – which is better for UK traders 2024? Compare Moneta Markets and RoboForex in this detailed breakdown of their platforms, features and fees.

Moneta Markets vs RoboForex Comparison Table 2024
Moneta Markets RoboForex
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4.4
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4.5
Moneta Markets is ranked #92 among CFD brokers. RoboForex is ranked #8 among CFD brokers.
Review
Review
Moneta Markets has closed or no longer accepts UK clients.
Founded in 2019 and headquartered in Johannesburg, South Africa, Moneta Markets offers over 1000 instruments for short-term trading. New traders can choose between STP and ECN accounts while the smooth sign-up process has helped attract 70,000 registered traders. 		RoboForex is an online broker, established in 2009 and registered with the IFSC in Belize. Traders can choose from five accounts (Prime, ECN, R StocksTrader, ProCent, Pro) catering to different needs with trades from 0.01 lots and spreads from 0 pips. RoboForex has also enhanced its offering over the years, adding CFD instruments and launching its stock trading platform, plus the CopyFX system.
RoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
Pros
  • Moneta Markets supports a growing suite of 1000+ tradable assets, with a particularly strong selection of commodities and more recently fresh index CFDs.
  • Registering for an account with Moneta Markets is quick and easy through the digital sign-up process, taking just a few minutes with an accessible $50 minimum deposit.
  • The broker offers competitive leverage rates of up to 1:1000, allowing experienced traders to amplify their positions and potentially increase their returns.
  • The intuitive ProTrader web platform, powered by TradingView, performed brilliantly during testing, enabling trading directly from charts, plus the easy modification of orders using drag-and-drop functionality.
  • Moneta Markets makes account funding a breeze, with plenty of account currencies, zero transfer fees and a wide selection of traditional, digital and now crypto-backed payment methods.
  • RoboForex is known for its tight spreads starting from 0 pips and low minimum deposits from $10, making it accessible to those on a budget. The ability to trade with micro lots further lowers the barrier to entry for new traders.
  • The broker offers leverage up to 1:2000 for certain account types, which is among the highest in the industry. This high leverage allows traders to maximize their trading potential, albeit with a corresponding increase in risk.
  • The R Stocks Trader platform rivals leading solutions like MT4, with netting and hedging capabilities, comprehensive backtesting, Level II pricing, and a flexible workspace.
  • RoboForex offers over 12,000 instruments, providing more short-term trading opportunities than the vast majority of online brokers, with forex, stocks, indices, ETFs, commodities, and futures.
  • The broker offers two commission-free withdrawals each month in the Free Funds Withdrawal program, helping traders to minimize transaction costs.
Cons
  • Although regulated by the ASIC, trading through the Seychelles-based entity may result in limited regulatory protections while Moneta Markets’ short track also means it hasn’t earned the reputation of the safest brokers.
  • Whilst TradingView-backed ProTrader is intuitive, there are limitations compared to the full TradingView platform, notably time frames lack seconds or ranges, and community scripts can’t be added.
  • Clients need an account balance of at least $500 to access educational materials, a serious drawback for beginners who can get free materials from brokers like IG and eToro.
  • While trading costs are generally competitive, index CFDs feature fairly high spreads especially on US products like the S&P 500, trailing IC Markets during testing.
  • The best pricing is reserved for traders who deposit $20,000 for the ECN Ultra account, putting it out of reach for most retail investors.
  • Despite 15+ years in the industry and registering with the Financial Commission, RoboForex is authorized by one ‘Red-Tier’ regulator – the IFSC in Belize, lowering the level of regulatory protections for traders.
  • While RoboForex offers competitive spreads, some of its account types come with high trading commissions up to $20 per lot, trailing the cheapest brokers, such as IC Markets.
  • RoboForex now restricts base currency options to USD and EUR. This limitation may inconvenience traders preferring to manage their accounts in other currencies, while potentially leading to conversion fees.
  • RoboForex provides a variety of account types, which, while offering flexibility, can be overwhelming for newer traders trying to choose the most suitable option for their trading style. Alternatives, notably eToro, provide a smoother entry into online trading with one retail account.
  • Despite offering a range of platforms, RoboForex still doesn't support the increasingly popular cTrader. This might deter traders who prefer this specific platform for their trading activities and is available at firms like Fusion Markets.
Awards
  • 10 Best Companies To Watch 2021
  • Best Forex Broker For Beginners 2021
  • Best Forex Broker For Professionals 2021
  • Most Advanced CFD Trading Platform 2020
  • Best Multi Asset Trading Platform 2023 - Global Brands Magazine Awards
  • Best Trading Conditions 2023 - International Business Magazine Awards
  • Best Mobile Trading App 2022 - GF Awards B2B
  • Most Trusted Broker 2022 - International Business Magazine Awards
  • Best Investment Products 2021 - Global Brands Magazine Awards
  • Best Global Mobile Trading App 2020 - Global Forex Awards B2B
  • Best Broker of the CIS 2019 - IAFT Awards
  • Best Investment Products 2019 - Global Brands Magazine
FCA Regulated
No No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Stocks, Indices, Commodities, ETFs, Crypto CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures
Demo Account
Yes Yes
Minimum Deposit
$50 $10
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
ASIC, FSCA, FSA IFSC
Mobile Apps
iOS & Android iOS & Android, R StocksTrader
Trading App

Moneta Markets supports the MT4 and MT5 applications but has stepped up its game by introducing a proprietary AppTrader. Powered by TradingView, it has a strong focus on technical analysis. It also sports a more intuitive interface and comprehensive functionality, including full-screen chart viewing and an integrated news stream. The added advantage is straightforward account management, allowing you to deposit, withdraw and access 24/7 chat support directly in the app.

RoboForex continues to excel with its wide range of iOS and Android-friendly platforms to meet short-term trading needs, including MT4 and MT5. The R StocksTrader app performed particularly well during testing, with a vast selection of stocks and ETFs, portfolio analytics, customizable watchlists, an events tracker, plus a fast and dependable mobile trading environment. The only notable absence in the RoboForex offering is the increasingly popular cTrader app, that’s favored by many traders.
iOS App Rating
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rating full
5
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4.7
Android App Rating
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rating full
4.4
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4.4
Margin Trading
Yes Yes
MetaTrader 4
Yes Yes
MetaTrader 5
Yes Yes
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No Yes
Autochartist
No No
eSignal
No No
Trading Central
Yes No
STP Account
Yes Yes
ECN Account
Yes Yes
DMA Account
No No
MAM Account
No Yes
PAMM Account
Yes No
LAMM Account
No Yes
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader, Strategy Builder in R StocksTrader
Copy Trading
Yes Yes
Copy Trading Platform
Moneta Markets is one of few brokers that offers its own social trading service, allowing clients to engage in copy trading through its user-friendly CopyTrader app. This easy-to-use solution lets beginner traders select and follow seasoned traders, accessing real-time performance statistics. Moneta Markets also offers ZuluTrade, a respected social and copy trading platform. RoboForex’s CopyFX service is designed specifically for currency traders with flexible control over your funds. The ‘Rating’ view provides helpful metrics on master traders, notably profit/loss, maximum drawdown, balance and number of trades spanning time intervals from 1 week to 6 months. That said, the joining process and resources are convoluted, which may confuse newer investors, while the interface trails the smooth user experience provided by category leaders like eToro.
Social Trading
Yes Yes
Trade Signals
Yes Yes
VPS Hosting
Yes Yes
Tournaments
No No
Demo Competitions
No Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0 $0
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • NZD
  • JPY
  • HKD
  • SGD
  • BRL
  • USD
  • EUR
Commodities
  • Gold
  • Silver
  • Oil
  • Gasoline
  • Copper
  • Cocoa
  • Coffee
  • Cotton
  • Sugar
  • Natural Gas
  • Orange Juice
  • Gold
  • Silver
  • Nickel
  • Oil
  • Copper
  • Palladium
  • Platinum
  • Natural Gas
  • Cocoa
  • Coffee
  • Corn
  • Wheat
  • Sugar
  • Soybeans
CFD
CFD traders have the opportunity to speculate on short-term movements across a wide range of assets, including forex, stocks, indices, commodities, bonds, and ETFs. Where Moneta Markets stands out is its high leverage up to 1:1000 for seasoned traders, though this seriously amplifies the risk of large losses for inexperienced investors. RoboForex offers a growing suite of over 12,000 CFDs, encompassing forex, stocks, indices, commodities, futures and ETFs. With an initial deposit of $10 and micro lot trading through to very high leverage up to 1:2000, RoboForex caters to a broad range of derivative traders. On the downside, analysis reveals execution speeds of 1-3 seconds, noticeably slower than IC Markets at 0.35 seconds, and suboptimal for fast-paced strategies like scalping.
Leverage
1:1000 1:2000
FTSE Spread
13.33
GBPUSD Spread<
0.56 0.4
Oil Spread
2.90 1.7
Stocks Spread
0.3 0.01
Forex
Moneta Markets provides an extensive selection of over 45 forex pairs, featuring leverage ratios that surpass those offered by the vast majority of brokers, reaching up to 1:1000. The HokoCloud VPS can also enhance automated forex trading strategies and is free if you deposit $500 and trade 5 forex lots per month. RoboForex offers trading on 30+ currency pairs, trailing category leaders like Pepperstone with its 90+ forex assets. That said, the Prime and ECN accounts feature competitive average spreads of 0.1 pips on the EUR/USD. Additionally, with a minimum investment of $100, traders can utilize the CopyFX system to replicate the strategies of seasoned currency traders.
Assets
45+ 30+
GBPUSD Spread
0.56 0.4
EURUSD Spread
0.26 0.1
EURGBP Spread
0.36 0.4
Currency Indices
  • USD
Moneta Markets RoboForex
Review
Review
RoboForex Ltd and its affiliates do not target EU/EEA/UK clients. Please be aware that you are able to receive investment services from a third-country firm at your own exclusive initiative only, taking all the risks involved.
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