FinTelegram reported back in August 2022 that Moneta Markets appeared to no longer be part of Vantage Group. In an executive interview with Finance Magnate, founder and CEO David Bily confirmed the breakaway from the Vantage Group. He also informed that Moneta Markets would now also operate with an ASIC license in Australia. However, Moneta Markets still operates unauthorized in Europe and violates regulatory rules. Here is another update.
Key Data
| Brands | Moneta Markets |
| Domain | www.monetamarkets.com |
| Social media | |
| Related legal entities | Moneta Markets South Africa (Pty) Ltd, South Africa Moneta LLC, SVG, est. March 2022 Moneta Markets Pty Ltd, Australia AGC Capital Securities Pty Ltd |
| Jurisdictions | South Africa St. Vincent & The Grenadines Australia |
| Platform | |
| Leverate | up to 1:500 |
| Payment processors | ZotaPay (cc), Finrax (crypto), BridgerPay, PerfectMoney |
| Related individuals | David Bily, CEO of Moneta Markets (LinkedIn) |
| Regulatory warnings | Consob |
Short Narrative
On its website is stated that Moneta Markets Pty Ltd would be an authorized representative (CAR no. 001298177) of AGC Capital Securities Pty Ltd, which is regulated by the Australian Securities & Investments Commission (ASIC), and holds an Australia Financial Service Licence (AFSL no. 481024).
However, Moneta Markets operates unauthorized in the European Economic Area (EEA) and solicits clients in this region. Despite their Australian and South African license, European clients have to regard Moneta Markets as an offshore broker without a proper license. They are not eligible for any investor protection scheme or support of financial ombudsmen.
Moneta Markets also offers leverage of 1:500, violating regulatory rules of the ESMA regimes and the FCA, which only allow a maximum of 1:30.
In December 2021, the Italian Consob issued a warning against Moneta Markets and the then-operator Vantage Global Limited.
Nevertheless, according to the latest Similarweb statistics for August 2022, more than 30% of the website visitors of this offshore broker come from Germany and Ireland alone. In our various reviews over the last few months, we never had problems registering and depositing as EEA residents.
On Trustpilot, Moneta Markets holds a 4.5-star rating and a corresponding “Excellent” trust level from more than 200 reviews (27 Sept 2022).
Read more about the Vantage Group.
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