Forex traders always look for trading with brokers that suit their trading needs and preferences. Moneta Markets and LMFX are online forex brokers that offer their trading services to traders and investors. Moneta Markets is a highly regulated and trusted forex broker. It is regulated in one tier-2 jurisdiction. On the other hand, LMFX is an offshore forex broker which is not regulated by any regulatory bodies.
In this article, we will review and compare the brokerage services offered by Moneta Markets and LMFX. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.
Moneta Markets vs LMFX: In a Nutshell
Moneta Markets
Founded in 2020, Moneta Markets is a new broker but was founded by experienced experts. Traders can enjoy ECN trading of over 1,000 forex and CFD instruments on its MetaTrader platforms, proprietary app trader as well as on the PRO TRADER; powered by TradingView. Social trading is via the Moneta CopyTrader app. Its ultra ECN account comes with tight spreads and commissions as low as $1/lot. To learn more, you may read our review about Moneta Markets.
Moneta Markets Overview
- Founded In: 2009
- Founder: David Bily
- Headquarters: South Africa
- Minimum Deposit: $50
- Maximum Leverage: 1000:1
- Regulations:FSP , FSCA
- Trading platform:RO TRADER ,APP TRADER ,Mt4,Mt 5,METATRADER APP,MT4,WEBTRADER,COPYTRADER APP
- Account Types: Direct, Prime, Ultra
- Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, FasaPay, JCB, SticPay
- US Traders: Not Accepted
LMFX
Traders who desire high leverage, multiple payment options, or even fixed spreads should consider trading with LMFX. Founded in 2015, the broker has successfully operated without hitches while growing its client base through the delivery of excellent services. Trading fees are low and there is an account type for every broker.
Moneta Markets vs: LMFX Features
Moneta Markets
- Trading Instruments: 1000+ Trading instruments including forex, indices, commodities, share CFDs, Crypto CFDs, Bonds, and ETFs
- Maximum leverage: Maximum Leverage is as high as 1000:1
- Minimum Deposit: $50 for Direct and Prime Account, $20000 for Ultra Account
- Account Types: Three ( Direct, Prime, Ultra)
- Trading Fees: Spread starting from 1.2 pip for Direct Account or Commission $3 per lot per side for Prime Account, and $1 per lot per side for Ultra Account
- PAMM/ MAM: Available
- Zulutrade: Available
- Scalping: Allowed
- News Trading: Allowed
- EA/ Robot Trading: Allowed
LMFX
- Trading Instruments: Forex, CFDs (Indices, Commodities, Metals, Shares) Â
- Maximum leverage: 1000:1
- Minimum Deposit: $5
- Account Types: Four ( Premium, Micro, Fixed, Zero Account)Â
- Trading Fees: Spread starting from 1 pips or commission $4Â
- PAMM/ MAM:Â Not Available
- Scalping: AllowedÂ
- News Trading: Allowed
- EA/ Robot Trading: Allowed
Moneta Markets vs LMFX: Pros and Cons
Moneta Markets Pros & Cons
- Regulated by FSA-S, FSCA
- The Maximum Leverage is as high as 1:1000
- Low Spread Starting From as low as 0 pips
- Allow Scalping, EA Trading, Copy Trading
- Offers passive investment programme(MAM, PAMM Account)
- Copy Trading, Zulutrade is allowed
- No Deposit or Inactivity fees
- Wide Range of instruments – 1000+ products to trade
- Easy and Quick Account Opening
- Seamless Deposit and Withdrawal
- Free Forex VPS
- Moneta Markets does not have top tire regulations like FCA, NFA, ASIC, CySEC etc.
- Limited number of trading instruments compared to market leaders
- No investor protection scheme
- The Ctrader platform is not offered
LMFX Pros & Cons
- The maximum leverage is as high as 1:1000.
- Tight Spread Starting from 0 pips
- Free VPS for high-volume traders.
- Allow Scalping, News Trading, EA Trading
- Does not have any FIFO Restrictions
- Deposit bonus and other bonuses.
- Due to the absence of regulatory restrictions, the broker is open to clients worldwide
- Multiple payment options including crypto and e-wallets.
- 4 Types of accounts available ( Premium, Micro, Fixed Zero)
- Traders are supported with trading tools like calculators, economic calendars, etc.
- Not Regulated by Any Authority
- Crypto CFDs are not available to Trade
- No Investor Protection Scheme
- No access to MetaTrader 5. Only MT4 and Webtrader are available.
- The minimum deposit for bank wire transfers is $250
- Managed Accounts and Social Trading (MAM, PAMM Accounts) are not Available
Moneta Markets vs LMFX: Side-by-Side Comparison
Moneta Markets Vs LMFX: Our Scores and Ratings
We rated both brokers, Moneta Markets and LMFX, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.
Moneta Markets :
LMFX
Final Verdict :
Both Moneta Markets and LMFX offer similar trading services worldwide. However, there are differences in their regulations, reputation, and operation. Moneta Markets is a highly regulated and trusted forex broker. It is regulated by top-tier regulatory authorities, including FSCA. On the other hand, LMFX is an unregulated offshore forex broker. Moneta Markets provides Multiple trading platforms including MT5, AppTrader, ProTrader (by TradingView). On the other hand, LMFX offers MT4, Webtrader, Mobile Trader.
As Moneta Markets is not licensed in the USA, it cannot accept US clients. Being an unregulated offshore forex broker, LMFX can onboard clients from anywhere in the world, including the USA. Therefore, non-US traders may opt for Moneta Markets, while US traders looking for offshore forex brokers may consider LMFX. Trading with offshore forex brokers is risky and not recommended.
