Monstrade Is An Unregulated Broker Registered In Serbia That Offers Forex, Commodities, Cryptocurrencies, Indices, Stocks, ETFs, And Bonds Trading Through The Popular MT5 Trading Platform With Leverage Up To 1:500 And Spreads Starting From 0.6 Pips.
Pros And Cons
Pros
Diverse Market Tools
Demo Accounts Available
Multiple Account Types
Support MT5
Diss
Higher Spreads On Cent Accounts
No MT4
Is Monstrade Legal?
No, Monstrade Is Not Regulated.
What Can Be Traded On Monstrade?
MonsTrade Offers Multiple Product Types Including Forex, Commodities, Cryptocurrencies, Indices, Stocks, ETFs And Bonds.
Account Types
Monstrade Offers 6 Account Types To Meet Different Trading Needs, Including Demo And Islamic Accounts.
Demo Account: The Minimum Deposit Requirement For Demo Accounts Is 100 Dollars. It Offers An Opportunity For Inexperienced Beginners To Practice Trading Without Worrying About Financial Losses.
Sub-Account: The Minimum Deposit Requirement For Sub-accounts Is 100 Dollars, Suitable For Those Who Have A Basic Understanding Of The Platform And Want To Try The Hands-on.
Classic Account: With A Minimum Deposit Requirement Of 100 Dollars, Classic Account Is A Standard Trading Account For A Wide Range Of Traders. It Is Designed For Those With Sufficient Trading Experience.
Premium Account: Premium Account Is Designed For Traders Looking For Enhanced Features And Benefits, Such As Lower Spreads And Priority Support. The Minimum Deposit Requirement For This Account Is 2500 Dollars.
ECN Account: With A Minimum Deposit Requirement Of 10000 Dollars, ECN Account Is Designed For Market Professionals Under Unique Conditions.
Islamic Account: With A Minimum Deposit Requirement Of 15,000 Dollars, This Account Charges A Fixed Commission On Foreign Exchange. It Is Designed For Traders Who Abide By Islamic Principles And It Is Forbidden To Pay Or Receive Interest.
Fees
Monstrade's Fees Are Relatively Low Compared To Industry Standards. Monstrade's Fee Structure Revolves Around Variable Spreads For All Account Types, With No Additional Commissions.
Spreads Start At 1.0 Pips For Demo Accounts And 0.6 Pips For ECN Accounts, But May Widen As Market Volatility Increases.
Trading Platform
Monstrade Uses MetaTrader 5 As Its Trading Platform. MetaTrader 5 (MT5) Is An Advanced And Versatile Trading Platform For Both Novice And Experienced Traders.
Deposits And Withdrawals
Monstrade Accepts Payment Methods Such As MasterCard, VISA, Perfect Money, Neteller, Etc. The Minimum Deposit Amount At Monstrade Is $100.
Customer Support
24/5 Live Chat, Contact Form
Email: Support@monstrade.com
Full Language Support: + 44 7450 1258 93
