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Monstrade

Serbia|1-2 years|
Common Business Registration|Suspicious Overrun|Medium potential risk|

https://monstrade.co/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
Monstrade-Server MT5
Server Location United Kingdom

Contact

+44 2038 0751 02
support@monstrade.com
https://monstrade.co/
Antifašističke borbe 29-E, Belgrad 11070, Serbia

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+44 2038 0751 02

Other ways of contact

Broker Information

More

Company Name

Monstrade Global Ltd

Abbreviation

Monstrade

Platform registered country and region

Serbia

Company website
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Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-11-03
  • This broker exceeds the business scope regulated by United Kingdom FCA(license number: 15234169)Common Business Registration Non-Forex License. Please be aware of the risk!

WikiFX Verification

Monstrade · WikiFX Survey

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Monstrade · Company Summary

MonstradeReview Summary
Founded2021
Registered Country/RegionSerbia
RegulationFCA (Exceeded)
Market InstrumentsForex, commodities, cryptocurrencies, indices, stocks, ETFs, bonds
Demo Account
LeverageUp to 1:500
SpreadFrom 1.6 pips (Cent account)
Trading PlatformMeteTrader 5
Min Deposit$100
Customer SupportEmail: support@monstrade.com
Telegram: Monstrade Support Telegram
English Language Support: +44 7450 1258 93
All Language Support: +44 7450 1258 93
Telegram: Monstrade Support Telegram

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.

Monstrades homepage

Pros and Cons

ProsCons
  • Diverse Market Instruments
  • High Spreads for the Cent Account
  • Demo Account Availability
  • Multiple Contact Channels

Is Monstrade Legit?

No, Monstrade is not regulated, and the current regulatory status is exceeded.

Regulatory AgencyFinancial Conduct Authority (FCA)
Regulatory Status Exceeded
Regulated by United Kingdom
Licensed Institution MONSTRADE FINANCIAL LTD
Licensed TypeCommon Business Registration
Licensed Number15234169
Exceeded FCA license
Domain information

What Can I Trade on Monstrade?

MonsTrade offers a variety of product types, including forex, commodities, cryptocurrencies, indices, stocks, ETFs, and bonds.

Tradable InstrumentsSupported
Forex
Commodities
Cryptocurrencies
Indices
Stocks
ETFs
Bonds
What Can I Trade on Monstrade?

Account Type

Monstrade offers 6 account types to suit different trading needs, including demo accounts and Islamic accounts.

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.

Account comparison
Account comparison

Leverage

Financial Product CategoryAccount TypeAsset Range (USD)Leverage
Forex, Precious MetalsECN< $1,0001:500
PRIME< $1,0001:500
CLASSIC< $1,0001:300
ECN$$1,000 -$$10,0001:500
PRIME$$1,000 -$$10,0001:500
CLASSIC$$1,000 -$$10,0001:500
ECN$$10,000 -$$50,0001:500
PRIME$$10,000 -$$50,0001:500
CLASSIC$$10,000 -$$50,0001:500
ECN$$50,000 -$$100,0001:300
PRIME$$50,000 -$$100,0001:300
CLASSIC$$50,000 -$$100,0001:200
ECN> $100,0001:300
PRIME> $100,0001:200
CLASSIC> $100,0001:100
Indices, Commodities, BondsAll Accounts< $250,0001:100
All Accounts$$250,000 -$$500,0001:50
All Accounts> $500,0001:20
CryptocurrenciesBTC/USD< $25,0001:50
Other Cryptocurrencies< $25,0001:20
BTC/USD> $25,0001:25
Other Cryptocurrencies> $25,0001:5
StocksAll AccountsAll Asset Ranges1:10
Leverage

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 TypeSpreadCommission
DemoFrom 1.0 pips
CentFrom 1.6 pips
ClassicFrom 1.6 pip
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.

COMPUTERPHONEMONSTARTABLET
MT 5 for PCMT 5 for AppleMonstar for AppleMT 5 for Ipad
MT5 for MacMT5 for AndroidMonstar for AndroidMT5 for Android
MT5 Web Trader
Trading Platform

Deposit and Withdrawal

Monstrade accepts MasterCard, VISA, Perfect Money, Neteller, etc. The minimum deposit for Monstrade is 100 USD.

Payment methods

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