Moneta Markets is a financial services company that offers forex and CFD trading services. The company claims to be regulated by the Financial Sector Conduct Authority (FSCA) of South Africa, but there is evidence to suggest that this is not the case.
Company Overview
Moneta Markets was founded in 2020 and is headquartered in Johannesburg, South Africa. The company’s website claims that it is a “leading provider of forex and CFD trading services” and that it offers “competitive spreads, low commissions, and a wide range of trading tools and resources.”
Team
The Moneta Markets website does not list any of the company’s management team members. However, it does claim that the company has “a team of experienced traders and financial professionals” who are “dedicated to providing our clients with the best possible trading experience.”
Services or Products
Moneta Markets offers forex and CFD trading services on a variety of assets, including currency pairs, commodities, indices, and stocks. The company also offers a variety of trading tools and resources, such as a trading platform, educational materials, and market research.
License and Regulations
Moneta Markets claims to be regulated by the FSCA of South Africa. However, the FSCA does not list Moneta Markets as a licensed financial services provider. This means that the company is not subject to the same level of oversight as regulated brokers.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to the same level of regulation as regulated brokers. This means that they are more likely to engage in fraudulent or unethical practices.
Second, unlicensed brokers are not required to keep client funds in segregated accounts. This means that there is a risk that your funds could be lost if the broker goes bankrupt or disappears.
Third, unlicensed brokers are not required to provide dispute resolution procedures. This means that it can be difficult to get your money back if you have a dispute with an unlicensed broker.
Legal Warning Against Moneta Markets
The Financial Conduct Authority (FCA) of the United Kingdom has issued a legal warning against Moneta Markets. The FCA warning states that Moneta Markets is not authorized to provide financial services in the UK and that it is likely to be a scam.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are a number of negative reviews about Moneta Markets online. These reviews allege that the company is a scam and that it has defrauded customers of their money.
Some of the specific complaints about Moneta Markets include:
- The company is not regulated by any reputable financial authority.
- The company’s trading platform is buggy and unreliable.
- The company’s customer service is poor.
- The company has refused to return customer funds.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Moneta Markets or another unlicensed broker, there are a few things you can do:
- Report the scam to the relevant authorities, such as the FCA in the UK or the FSCA in South Africa.
- File a complaint with the Financial Ombudsman Service (FOS) in the UK or the National Consumer Disputes Centre (NCDRC) in South Africa.
- Try to recover your money through a chargeback or a credit card dispute.
- Contact a lawyer who specializes in financial fraud.
If you need a quick solution, you should contact us. You will get a free consultation call where you will get some recovery service recommendations.
Final Thought
Moneta Markets is a potentially fraudulent broker that should be avoided. If you are considering trading with Moneta Markets, we advise you to reconsider and choose a regulated broker instead.
We hope this article has been helpful. If you have any further questions, please do not hesitate to ask.
