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MONSTRADE Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-11-07 13:59

Abstract：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.

MonstradeReview Summary
Founded	2021
Registered Country/Region	Serbia
Regulation	FCA (Exceeded）
Market Instruments	100+, forex, commodities, cryptocurrencies, indices, stocks, ETFs, bonds
Demo Account	✅
Leverage	Up to 1:500
Spread	From 1.6 pips (Cent account)
Trading Platform	MeteTrader 5
Min Deposit	$100
Customer Support	24/5 Live chat, contact form
	Email: support@monstrade.com
	All Language Support: +44 7450 1258 93
	Social media: Telegram, Facebook, YouTube, Twitter
	Registration Address: Antifašističke borbe 29-E, Belgrad 11070, Serbia
	Representative 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 Cons

Pros	Cons
Diverse Market Instruments	High Spreads for the Cent Account
Demo Account Availability	No MT4
Multiple Account Types
MT5 Supported

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