View from a Vantage point - Moneta Markets Q&A
Published 4th November 2020
This is part two of our Q&A with Moneta Markets - to view part one, click here.
4. You are offering cryptocurrency alongside fiat deposits; do you see this as a big untapped market to date?
There has been a lot of demand from our clients to offer crypto deposits, not only because of the appeal of cryptocurrencies as their own tradable asset class, but also because they trust its safety. For instance, when a client chooses to fund their account with crypto, there’s no need to disclose their bank account or credit card details in order to deposit or withdraw their money.
Another key reason for increased demand for crypto deposits is that many traders already have cryptocurrency exposure and are holding tokens/coins. This makes it quick and easy for them to fund their trading accounts, or withdraw funds into their crypto wallet seamlessly using the WebTrader’s integrated fund management module.
On top of this, all cryptocurrency transactions are recorded on public networks, a blockchain, without any intervention from banks or third-party financial providers. An increasing number of people are wanting to become less reliant on third-party financial providers, and crypto is the ideal solution for that audience. And, when keeping transaction costs to a minimum, or even zero, crypto deposits can help clients to preserve their trading capital, also there are no international borders when it comes to managing account funds with cryptocurrencies which is extremely appealing to traders across the globe.
Again, it all comes down to making it as easy as possible for the client to start trading, for both onboarding and retention.
5. How much of a benefit does operating as a subsidiary of Vantage International Group give you over competitors?
While it can be a challenge entering such a competitive market as a new brand, being able to lean on the Vantage International Group heritage offers traders and partners the confidence that Moneta Markets is backed by one of the more reputable Forex brokers and partnership programs in the industry.
Since 2009 the Vantage FX has built a solid foundation not only for transparency, but also for delivering a great product. And, having built a great reputation over the years with clients and partners, we’re able to instil confidence that Moneta Markets will deliver even further on Vantage International Group’s reputation and grow to become a valued contributor to Vantage’s portfolio of brands.
One of the greatest advantages of being a subsidiary of Vantage International Group is that we have learned a lot of hard lessons over the years, and have taken those learnings as well as years of feedback onboard to apply that knowledge so that Moneta Markets provides the ultimate web-based platform for traders.
6. Considering increasing scrutiny on retail FX trading from multiple jurisdictions, what does Moneta do to ensure customers are trading sustainably and safely?
There is certainly an increase in attention regarding retail FX trading from a variety of jurisdictions which no doubt presents its challenges. I’m sure that it’s only going to draw more attention and scrutiny in the future and these changes will affect the entire industry on a global scale. However, there are a variety of measures in place to ensure our clients are able to trade sustainably in a safe and secure environment. Being licensed and regulated by CIMA, there is a restriction on the countries we’re able to service, which we adhere to without exception. We are also very conscious that policies are constantly changing, and put a great deal of effort into preemptively implementing policies that ensure we’re well prepared for increased tighter regulatory conditions that will affect the entire industry.
CIMA is just the start of our regulatory governance, we are hoping to enter the European market in the near future which requires additional accreditation, and we will continue to gain the licences required so as to expand our operational capabilities into multiple regions worldwide. This is vital in providing clients with the reassurance that they are protected by the relevant regulatory body in the region they reside.
When it comes to ensuring safety and sustainable trading, being a subsidiary of Vantage International Group offers traders the confidence that they’re trading with a brand backed by a brand with one of the best reputations for a safe trading environment and transparent trading conditions. On top of this, all client funds are held in segregated accounts with the AA rated National Australia Bank, and we also offer negative balance protection for clients who have exposure during rare black swan events.
We’re in this for the long-game, and that means it’s imperative for us to uphold the highest compliance and regulatory standards, so we can continue providing a safe and secure trading environment to service our clients and partners well into the future.
This article is the second in a two-part sponsored Q&A with Moneta Markets.