English

Monstrade Forex broker specializes in providing foreign exchange trading services, the company's official website https://client.monst..., the company's legitimate regulatory information United KingdomFCACommon Business Registration to enhance the security of the company's address Antifašističke borbe 29-E, Belgrad 11070, Serbia

Monstrade Forex Broker

Basic Information

Registered Region

Serbia

Operating Period

Company Name

Monstrade Global Ltd

Abbreviation

Monstrade

Company employee

Customer Service Email Address

support@monstrade.com

Contact Number

+447450125893

Company Website

https://monstrade.co/

Company address

Antifašističke borbe 29-E, Belgrad 11070, Serbia

https://x.com/MonsTradeFX

Keywords

2-5 years

Regulated in United Kingdom

Common Business Registration

MT5 Full License

Self-developed

Regional Brokers

Suspicious Overrun

Medium potential risk

Company profile

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.

Monstrade broker review

Is Monstrade safe or scam

Rating Index

Islamic

Minimum Deposit

$ 15000

Prime

Minimum Deposit

$ 2500

How to login to Monstrade?

Monstrade Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a Monstrade Account Registering for a Monstrade account is the first step to accessing their trading platform. Heres a detailed guide on how to complete the reg

Monstrade Forex Broker - Complete Information Guide

1. Broker Overview

　　Monstrade, officially known as Monstrade Dooel Skopje, was established in 2021. The broker is headquartered in Skopje, North Macedonia, with a primary office located at Str. Kozara No: 68 - 2 / 6, 1000 Skopje. Monstrade operates as a private company, and it claims to provide a wide range of trading services to a global clientele, focusing primarily on retail forex trading.

　　Since its inception, Monstrade has aimed to cater to a diverse customer base, including individual traders and investors interested in various financial markets. The company has positioned itself as an international broker, offering access to multiple trading instruments, including forex, indices, commodities, cryptocurrencies, and stocks.

　　Despite its short operational history, Monstrade has attempted to establish a presence in the competitive online trading market. However, it has faced significant scrutiny regarding its regulatory status and operational practices. The company's business model is primarily focused on retail forex trading, but it also offers other financial instruments through Contracts for Difference (CFDs).

　　In summary, Monstrade presents itself as a comprehensive trading platform, but potential clients should approach with caution due to the lack of regulatory oversight.

2. Regulatory and Compliance Information

　　Monstrade is currently unregulated, which raises significant concerns for potential investors. The broker claims to be registered under the supervision of the Securities and Exchange Commission of the Republic of North Macedonia, but it has not provided any valid regulatory licenses. According to various sources, including the Financial Commission, Monstrade has been flagged for operating without proper authorization.

Regulatory Bodies: No recognized financial authority regulates Monstrade.
License Numbers: Not applicable, as the broker is unregulated.
License Validity and Scope: Monstrade lacks any valid licenses to operate as a financial services provider.
Legal Entities: Monstrade operates under the name Monstrade Dooel Skopje in North Macedonia.
Client Funds Segregation Policy: There is no evidence of a client funds segregation policy in place.
Investor Compensation Fund Participation: Monstrade does not participate in any investor compensation schemes.
KYC and AML Compliance Measures: The broker's commitment to Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance is unclear, given its unregulated status.

　　This lack of oversight means that clients may not have any recourse if they encounter issues with the broker, making it a risky option for trading.

3. Trading Products and Services

　　Monstrade offers a variety of trading products, which include:

Forex Pairs: The broker provides access to a range of currency pairs, although the exact number of available pairs is not specified. Major currencies are typically included.
CFD Products: Monstrade allows trading in several categories of CFDs, including:
Indices: Various stock indices are available for trading.
Commodities: Traders can engage in commodity trading, including precious metals and energy products.
Stocks: A selection of stocks from different markets is offered.
Cryptocurrencies: Monstrade provides trading options for popular cryptocurrencies, including Bitcoin and Ethereum.

　　The broker claims to update its product offerings regularly, but specific information regarding the frequency of updates and new additions is not disclosed.

　　Monstrade primarily focuses on retail trading services, catering to individual traders. However, there is no indication that the broker offers institutional client services or white-label solutions. The absence of asset management services further limits its appeal to a broader market.

4. Trading Platforms and Technology

　　Monstrade utilizes the MetaTrader 5 (MT5) platform, which is known for its advanced trading capabilities. The platform supports various trading features, including:

MetaTrader 4/5 Support: Monstrade exclusively supports MT5, which offers enhanced tools for trading and analysis.
Web-Based Trading Platform: The broker provides a web-based version of the MT5 platform, allowing traders to access their accounts from any browser.
Mobile Applications: Monstrade offers mobile applications compatible with both iOS and Android devices, enabling traders to manage their accounts on the go.
Execution Model: The broker operates on a Market Maker model, which may impact the execution of trades.
Server Location and Infrastructure: Specific details regarding the server locations and technical infrastructure supporting the platform are not disclosed.
API Access and Automated Trading Support: The availability of API access or support for automated trading strategies is not specified.

　　Overall, while Monstrade provides access to a well-regarded trading platform, the lack of transparency regarding its execution model and technical infrastructure is concerning.

5. Account Types and Trading Conditions

　　Monstrade offers several account types to suit various trading needs:

Standard Account Conditions: The minimum deposit for all account types is set at $100. However, specific details regarding spreads and commissions are not explicitly stated.
Advanced Account Types: While the broker mentions different account types, the conditions across these accounts appear to be similar, lacking clear differentiation.
Special Accounts: There is mention of an Islamic account, which adheres to Sharia law, but details are limited.
Demo Account Policy: Monstrade offers a demo account for practice, allowing traders to familiarize themselves with the platform without financial risk.
Leverage Range: The broker claims to offer leverage of up to 3000:1 for forex trading, which is significantly higher than industry standards.
Minimum Trade Size: Specific information regarding the minimum trade size is not provided.
Overnight Fees Policy: The broker does not disclose any information regarding overnight fees or swap rates.

　　The lack of clarity regarding account conditions and trading fees could lead to unexpected costs for traders.

6. Fund Management

　　Monstrade supports multiple deposit and withdrawal methods, including:

Deposit Methods: Accepted payment methods include bank transfers, credit cards, and electronic wallets. The minimum deposit requirement across all account types is $100.
Deposit Processing Time: Deposits are typically processed instantly.
Deposit Fees: Monstrade does not specify any deposit fees for the methods mentioned.
Withdrawal Methods and Restrictions: The broker offers various withdrawal options, but specific details about withdrawal limits and processing times are not provided.
Withdrawal Processing Time: Withdrawal requests may take 24 hours for processing, but delays have been reported by users.
Withdrawal Fees Structure: Information regarding withdrawal fees is not transparently disclosed.

　　Given the lack of clarity and potential for delays, traders should exercise caution when managing their funds with Monstrade.

7. Customer Support and Educational Resources

　　Monstrade offers several channels for customer support:

Support Channels: Clients can reach out via phone, email, online chat, and social media platforms.
Service Hours and Time Zone Coverage: The support team is available 24/5, accommodating various time zones.
Multilingual Support: The broker provides support in multiple languages, although specific languages supported are not listed.
Educational Resources: Monstrade offers limited educational resources, including basic tutorials and market analysis, but lacks comprehensive training materials.
Market Analysis Services: The broker claims to provide daily market analysis and research reports, but the quality and depth of these resources are unclear.
Trading Tools: Tools such as calculators and economic calendars are available, but additional features like signal services are not mentioned.

　　The limited educational offerings may hinder inexperienced traders from fully utilizing the platform.

8. Geographic Coverage and Restrictions

　　Monstrade aims to serve a global market, but there are notable restrictions:

Primary Service Markets: The broker targets clients primarily in Europe and other regions.
Regional Office Distribution: Monstrade has its main office in North Macedonia, with no additional offices reported.
Countries/Regions Not Accepted: Monstrade does not accept clients from the USA, Canada, Iran, and North Korea.
Special Restrictions: Given its unregulated status, potential clients should be aware that engaging with Monstrade may pose significant risks.

　　In conclusion, while Monstrade presents itself as a diverse trading platform, the lack of regulation, transparency, and clear operational practices raises substantial concerns for potential investors. It is advisable for traders to conduct thorough research and consider regulated alternatives before engaging with Monstrade broker.

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