IFX Brokers vs Moneta Markets

Forex

Overall Comparison

FEATURE

IFX Brokers

Moneta Markets

General comparison

4/5

4/5

Regulation

5/5

3/5

Spreads and fees

4/5

4/5

Trading Platforms

4/5

3/5

Trading Apps

4/5

3/5

Analytical Tools

4/5

4/5

Educational Resources

5/5

3/5

Trust Score

93

71

Best in class

x

 

Regulation Comparison

FEATURE

IFX Brokers

Moneta Markets

Trust score

93

71

Year Founded

2018

2020

Publically Traded

No

No

Licensed in South Africa

Yes

Yes

Assets Comparison

FEATURE

IFX Brokers

Moneta Markets

Forex

Yes

Yes

CFDs

Yes

Yes

Number of Forex pairs

70

45

US Stock Trading

No

No

International Stock Trading

No

No

Cryptocurrency CFDs

Yes

No

Fees Comparison

FEATURE

IFX Brokers

Moneta Markets

Average Spread for EUR/USD

0.2 pips

>1 pip

Commissions Charged

Yes

Yes

ECN Execution

Yes

Yes

Market Maker Execution

No

No

Deposit Options Comparison

FEATURE

IFX Brokers

Moneta Markets

Deposit fees

No

No

Bank wire

Yes

Yes

MasterCard

Yes

Yes

PayPal

No

No

Skrill

Yes

No

Minimum Deposit

$10

$50

Trading Platforms Comparison

FEATURE

IFX Brokers

Moneta Markets

Desktop Platform

Yes

Yes

Mobile App

Yes

Yes

Social Trading

Yes

Yes

MetaTrader 4

Yes

Yes

MetaTrader 5

Yes

No

cTrader

No

No

DupliTrade

No

No

ZuluTrade

No

Yes

Proprietary Platform

No

No

Analytical Tools Comparison

FEATURE

IFX Brokers

Moneta Markets

Economic Calendar

Yes

Yes

Social Sentiment

Yes

Yes

Trading Central

No

No

AutoChartist

No

No

Forex News Sources

Yes

Yes

Daily Market Commentary

Yes

Yes

Educational Resources Comparison

FEATURE

IFX Brokers

Moneta Markets

Offers education

Yes

No

Webinars

Yes

No

Beginner training videos

Yes

No

Advanced training videos

Yes

No

Glossary

No

No

Majors Offered

FEATURE

IFX Brokers

Moneta Markets

GBP/USD

Yes

Yes

USD/JPY

Yes

Yes

EUR/USD

Yes

Yes

USD/CHF

Yes

Yes

USD/CAD

Yes

Yes

NZD/USD

Yes

Yes

AUD/USD

Yes

Yes

IFX Brokers vs. Moneta Markets

We spent many hours thoroughly examining the best-in-class Forex brokers for 2023. Here, we take a closer look at IFX Brokers vs. Moneta Markets.

 

Which offers better pricing – IFX Brokers or Moneta Markets?

It is to be noted that both IFX Brokers and Moneta Markets provide favourable trading conditions for their clients.

One example of this can be observed in the IFX Brokers VIP Account, where the commission per lot traded is a mere US$6, and the spread on highly traded instruments such as the EUR/USD pair commences at a competitive 0.5 pips.

It is worth mentioning that spreads at IFX Brokers are variable and may fluctuate based on various factors, including the underlying asset, the type of trading account, and the current market conditions.

As such, traders must utilize stop-loss and take-profit orders to mitigate potential risks. Additionally, it is important to note that while no commission fees are associated with the retail account, traders utilizing this account type are responsible for covering the spread.

Based on an analysis of the average spreads and commissions charged, it can be inferred that the total trading fees at IFX Brokers range from $10 to $16 across its five trading accounts.

Moneta Markets, a brokerage firm, presents a cost-effective fee structure for its Electronic Communication Network (ECN) accounts.

The spread for these accounts commences at 0.0 pips, with an average spread >1 pip, and a commission of $3 per lot per side is applied. These rates are highly attractive to proprietary traders utilizing the services provided by Moneta Markets.

 

Which broker offers more security when trading Forex and CFDs?

IFX Brokers is a reputable South African brokerage firm authorized by the Financial Sector Conduct Authority (FSCA) that offers a wide range of financial assets for trading. The broker has recently gained significant popularity among traders of all skill levels.

The firm’s operations are well-regulated and transparent, providing clients with a trustworthy trading environment. Additionally, to ensure the security of customer funds, they are kept in separate accounts, and the FSCA provides oversight and protection for market participants.

Moneta Markets, formally known as Moneta Markets South Africa (Pty) Ltd, is a reputable financial service provider that holds authorization, registration, and regulation by the Financial Sector Conduct Authority (FSCA) of South Africa, under license number 47490.

Moneta LLC, also operating under Moneta Markets, is registered under Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) with registration number 2052 LLC 2022.

To ensure the safety of clients’ funds, they are held in a segregated account with an AA-Rated Global Bank that consistently ranks among the top 20 safest banks in the world.

Moneta Markets adheres to strict financial regulations set by the jurisdictions in which it is regulated and works to provide transparent and fair access to the global Forex markets.

Furthermore, the company has Professional Indemnity Insurance to cover the work done by its employees, employees, and authorized representatives.

 

Which broker offers the superior trading platform?

IFX Brokers and Moneta Markets offer MetaTrader 4, but only IFX Brokers offers MetaTrader 5, which means that IFX Brokers offers a superior trading platform.

 

Do these brokers both offer MetaTrader?

Both brokers offer MetaTrader 4, but only IFX Brokers offer MetaTrader 4 and 5.

 

How many Forex pairs can I expect from these brokers?

IFX brokers provide access to 70 currency pairs, while Moneta Markets offers 45 pairs spread across major, minor, and exotic forex pairs. Therefore, IFX Brokers has a more diversified portfolio, providing traders flexibility when they trade forex.

 

Is it safe to trade with IFX Brokers?

It is confidently stated that trading with IFX Brokers is a secure endeavour.

This is due to the broker’s possession of a Financial Services Provider (FSP) license and regulation by the Financial Sector Conduct Authority (FSCA). This reputable Tier-2 market regulator oversees banking and non-banking firms in South Africa.

Furthermore, when conducting trades with IFX Brokers, one can expect high transparency and access to competitive trading conditions.

To further safeguard the financial assets of its clients, IFX Brokers maintains separate bank accounts at reputable South African financial institutions for each customer, wherein the funds deposited by the clients are not accessible to the broker.

Therefore, the funds deposited to IFX Brokers can only be utilized by the trader for their trading activities.

 

Is it safe to trade with Moneta Markets?

Financial Service Provider (“FSP”) Moneta Markets South Africa (Pty) Ltd is licensed and regulated by the Financial Sector Conduct Authority (“FSCA”) of South Africa and does business under the name “Moneta Markets.”

Furthermore, the Financial Services Authority (“SVGFSA”) entity operates under registration number 2052 LLC 2022 as Moneta LLC, operating as Moneta Markets.

While Moneta Markets has three entities, most clients are currently directed to the unregulated offshore Moneta LLC.

Different regulatory agencies provide varying degrees of protection. For example, depending on the jurisdiction, regulated entities might be subject to minimum capital requirements, leverage restrictions, segregated funds regulations, and negative balance protection.

In certain instances, regulated entities have compensation funds to compensate clients if a broker becomes insolvent.

Moneta Markets states on its website that all client funds are held in a trust account at the AA-rated National Australia Bank and that all client trading accounts are protected against negative balances.

Negative balance protection guarantees that customers cannot lose more than their account balance. Moreover, Moneta Markets asserts that it is subject to stringent regulatory compliance and regular accounting audits and is fully insured.

 

Who is IFX Brokers?

IFX Brokers is a reputable and trustworthy financial services provider in South Africa, offering forex and CFD trading solutions since 2018. It is approved by the Financial Sector Conduct Authority (FSCA) and has earned a great reputation among investors.

IFX Brokers offers five active trading accounts to suit the needs of different skill sets, with spreads starting at 0.5 pips on popular instruments such as EUR/USD.

Additionally, traders can enjoy favourable conditions across all accounts, including a maximum leverage of 1:500 on forex majors and an average deal cost between $10 and $16.

IFX Brokers also allows various trading strategies, including hedging, scalping, and automated trading robots, and provides access to 70 alternative currency pairs and a few non-forex assets.

Furthermore, traders can use MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms and various secure deposit and withdrawal options.

 

Who is Moneta Markets?

Moneta Markets is a division of Vantage International Group LTD that was established in 2009 by a group of experts in finance, global markets, and technology.

Since then, it has developed into its entity and will debut as a brand in 2020. Moneta Markets claims on its website to serve over 70,000 customers in over 190 countries, with a monthly trading volume of over $100 billion.

Forex, stocks, ETFs, commodities, indices, and cryptocurrencies are available through Moneta Markets’ Contracts for Difference trading platform. In addition, MetaTrader 4 and the Pro Trader platform developed by TradingView, are all accessible options.