Monstrade Forex Broker

MonstradeReview SummaryFounded2021Registered Country/RegionSerbiaRegulationFCA (Exceeded）Market Instruments100+, forex, commodities, cryptocurrencies, indices, stocks, ETFs, bondsDemo Account✅LeverageUp to 1:500SpreadFrom 1.6 pips (Cent account)Trading PlatformMeteTrader 5Min Deposit$100Customer Support24/5 Live chat, contact formEmail: support@monstrade.comAll Language Support: +44 7450 1258 93Social media: Telegram, Facebook, YouTube, TwitterRegistration Address: Antifašističke borbe 29-E, Belgrad 11070, SerbiaRepresentative 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 ConsProsConsDiverse Market InstrumentsHigh Spreads for the Cent AccountDemo Account AvailabilityNo MT4Multiple Account TypesMT5 SupportedIs Monstrade Legit? No, Monstrade is not regulated, and the current regulatory status is exceeded.Regulatory AgencyFinancial Conduct Authority (FCA)Regulatory StatusExceededRegulated byUnited KingdomLicensed InstitutionMONSTRADE FINANCIAL LTDLicensed TypeCommon Business RegistrationLicensed Number15234169 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.LeverageFinancial Product CategoryAccount TypeAsset Range (USD)LeverageForeign Exchange, Precious MetalsECN< $1,0001:500PRIME< $1,0001:500CLASSIC< $1,0001:300ECN$$1,000 -$$10,0001:500PRIME$$1,000 -$$10,0001:500CLASSIC$$1,000 -$$10,0001:500ECN$$10,000 -$$50,0001:500PRIME$$10,000 -$$50,0001:500CLASSIC$$10,000 -$$50,0001:500ECN$$50,000 -$$100,0001:300PRIME$$50,000 -$$100,0001:300CLASSIC$$50,000 -$$100,0001:200ECN> $100,0001:300PRIME> $100,0001:200CLASSIC> $100,0001:100Indices, Commodities, BondsAll Accounts< $250,0001:100All Accounts$$250,000 -$$500,0001:50All Accounts> $500,0001:20CryptocurrenciesBTC/USD< $25,0001:50Other Cryptocurrencies< $25,0001:20BTC/USD> $25,0001:25Other Cryptocurrencies> $25,0001:5StocksAll AccountsAll Asset Ranges1:10Monstrade 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 TypeSpreadCommissionDemoFrom 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.COMPUTERPHONEMONSTARTABLETMT 5 for PCMT 5 for AppleMonstar for AppleMT 5 for IpadMT5 for MacMT5 for AndroidMonstar for AndroidMT5 for AndroidMT5 Web TraderDeposit and Withdrawal Monstrade accepts MasterCard, VISA, Perfect Money, Neteller, etc. The minimum deposit for Monstrade is 100 USD.