Our team spent a full quarter trying out MonetyTrade with a funded account, and here's what we found. It's easy to get started, your money is kept safe, and beginners especially can find their way around. What to keep in mind is one or two charges that run a little high.
Best for: People who are just starting out who want a friendly place to start and want to keep costs low.
Not for: Anyone focused on forex, since a platform built for everyone can't beat a specialist tool there.
MonetyTrade is one of the few trading apps that put its money into being reliable — reliability and fair fees — rather than flashy ads. From what we saw in testing, we give it a score of B+.
What keeps it from a top score is a couple of fees that run a bit high. The good news is these are easy for the company to fix — nothing is wrong under the hood.
Making a trade is easy. Across our test trades, trades filled quickly and the price you saw was the price you got, often a touch better than average.
For simple buys and sells, it does the job well. Complex strategies weren't always as quick — worth knowing if you trade options a lot.
Stock trades cost you nothing — no commission. That's a big plus.
Where you might pay more are a few add-on services, which could be lower. None of it is hidden, so there are no nasty surprises.
The phone app is the best part of MonetyTrade. It's quick and simple to use, even on day one.
There's handy info inside the app — prices, news, and simple charts — so you can trust it. There's a desktop version too, though the app is the star.
Keeping your money safe is where MonetyTrade does well. Your funds are kept apart from the company's own money, so it's protected even if the company runs into trouble.
The platform is regulated in more than one country and passes independent security checks. If you buy crypto too, a licensed partner looks after it — normal for the industry, but good to know.
Overall, we're happy to give MonetyTrade a score of B+ for everyday investors. It gets the basics right: simple, safe, and fair.
To get top marks, MonetyTrade would only need to lower a few charges. We update our reviews regularly and update this review if things change.
You can start with $0. There's no big upfront amount. Setting up costs nothing.
Yes. Help is available any time by chat and answers come fast. Tricky questions go to a specialist instead of being bounced around. Phone help is weekdays only.
Yes — whenever you like. Your money isn't tied up. Withdrawals usually arrive within a day, with no fee from the platform.
Yes, it is. Your money is kept in a separate account, for your safety. It's licensed and independently reviewed too.
From add-on services, such as transfers or premium features, and behind-the-scenes interest. Regular stock trades stay free.
For simple day-to-day trades, it's fine. For complex trades, it's not the fastest. People trading a lot of forex may find cheaper options elsewhere.
The usual account types are offered, plus tax-friendly retirement accounts. Opening one is free and quick, though some account types take a day or two to activate.
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