Maono Global Markets 2025 Review: Everything You Need to Know
Summary:
Maono Global Markets, established in 2022, is a forex broker that has garnered a mixed reputation among traders. While it offers a variety of trading instruments and high leverage, the lack of regulatory oversight and negative user experiences raise significant concerns. Notably, the broker claims to operate in South Africa but is under scrutiny for its legitimacy and operational practices.
Note:
It is important to highlight that the broker operates under various entities across regions, which may affect its regulatory status. This review aims to present a fair and accurate assessment based on available data.
Rating Overview
We assess brokers based on user feedback, expert opinions, and factual data.
Broker Overview
Founded in 2022, Maono Global Markets claims to be registered in South Africa, yet verification of this registration remains elusive. The broker operates on the MetaTrader 5 (MT5) platform, known for its advanced trading features, and offers a range of tradable assets including forex, stocks, and indices. However, it lacks valid regulatory oversight, raising questions about its operational legitimacy.
Detailed Review
Regulatory Regions:
Maono Global Markets claims to be registered in South Africa but lacks verification from the South African Financial Sector Conduct Authority (FSCA). The broker is associated with Sit Hund Hi Group (Pty) Ltd, which is also not authorized to engage in brokerage services for financial derivatives, according to FSCA records. This situation raises significant red flags about the broker's regulatory compliance.
Deposit/Withdrawal Currencies/Cryptocurrencies:
The broker supports various deposit and withdrawal methods, including Ozow and Paystack. However, there is a lack of clarity regarding the currencies supported and any associated fees or processing times for these transactions.
Minimum Deposit:
While specific minimum deposit amounts are not clearly stated across all account types, the absence of detailed information regarding account conditions may deter potential clients.
Bonuses/Promotions:
Maono Global Markets offers a 100% bonus account, but the terms and conditions surrounding this promotion are not explicitly defined, leading to potential misunderstandings among users.
Tradable Asset Classes:
The broker provides access to forex, shares, and indices. However, specifics on the range of available currency pairs, stocks, and indices are not comprehensively detailed, making it challenging for traders to make informed decisions.
Costs (Spreads, Fees, Commissions):
Spreads start from 1 pip in the standard and bonus accounts, but the absence of detailed information regarding commissions and other fees raises concerns about the overall cost structure.
Leverage:
Maono Global Markets offers high leverage of up to 1:500, allowing traders to control large positions with a smaller capital outlay. While this can amplify potential profits, it also significantly increases the risks involved, making it more suitable for experienced traders.
Allowed Trading Platforms:
The broker exclusively uses the MT5 platform, which is widely recognized for its user-friendly interface and advanced analytical tools. However, some users have reported difficulties in downloading the MT5 app on certain devices, particularly Android.
Restricted Regions:
There is no clear information regarding restricted regions, but the broker does not provide services in jurisdictions that may violate local laws, such as the United States.
Available Customer Service Languages:
Customer support is available in English, with multiple contact methods including phone and email. However, the overall responsiveness and effectiveness of customer service have been criticized in user reviews.
Repeated Rating Overview
Detailed Breakdown
-
Account Conditions (4/10):
The broker offers three account types—standard, bonus, and micro accounts. However, the lack of clear information regarding minimum deposits, margin ratios, and specific trading conditions limits the attractiveness of these accounts.
Tools and Resources (3/10):
While MT5 provides robust trading tools, Maono Global Markets does not offer any educational resources or additional trading tools, which could significantly benefit traders, especially novices.
Customer Service and Support (5/10):
Customer support is accessible via phone and email, but user experiences indicate inconsistency in service quality. The lack of educational resources further complicates the support aspect for inexperienced traders.
Trading Setup (Experience) (4/10):
The MT5 platform is a strong point for the broker, yet user feedback suggests that the overall trading experience is marred by a lack of transparency and clarity regarding trading conditions.
Trustworthiness (2/10):
Given the broker's lack of regulatory oversight, negative online sentiment, and unverified claims of registration, trustworthiness is a significant concern for potential clients.
User Experience (3/10):
User reviews highlight a mixed experience, with some praising the ease of use of the platform, while others express frustration over withdrawal issues and unclear terms.
In conclusion, while Maono Global Markets presents a variety of trading options and high leverage, the absence of regulatory oversight and negative user experiences warrant caution for potential traders. Always conduct thorough research and consider alternative options before investing.
