Monstrade Forex broker specializes in providing foreign exchange trading services, the company's official website https://client.monstradecrm.com/en/auth/register?returnUrl=%2Fdashboard, 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
Serbia
2-5 years Regulated in United Kingdom Common Business Registration MT5 Full License Regional Brokers Suspicious Overrun Medium potential riskCompany profile
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
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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.
Rating Index
Prime Account
Classic Account
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Latest Reviews
EXOKAY
Kazakhstan
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.
Positive
2024-06-21
RtyuD
Pakistan
Unlike many other brokers, the deposit & withdrawal process is excellent: no requirement for 'selfies while holding drivers licence' or other stalling tactics to keep your funds for longer, just efficient & fast transfers. The interface on their site is also excellent. If you're not an MT4 user, its as good an alternative as I've used.
Positive
2024-05-08
Xukar
Italy
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.
Positive
2024-07-09