Moneyplant FX: MISA licence BFX2024047

The published contract tables cover 28 currency pairs, gold and silver, three energy contracts and seven stock indices, plus share CFDs on listed companies. The minimum trade size is 0.01 lots. Marketing copy on the homepage also mentions cryptocurrency, but no crypto instrument is listed anywhere in the published specifications.

The footer states that Moneyplant FX LTD does not provide services to citizens or residents of the United States, Cuba, Iraq, Myanmar, North Korea, Sudan, the United Arab Emirates, India and Pakistan. That restriction is not enforced in the signup process, which asks for no country of residence and offers a complete global list of telephone dialling codes.

Spreads start at 0.8 pips on the Elite plan, 1 pip on Standard and 1.5 pips on Micro and Swapfree. Commission is charged only on the two largest plans, at 7 USD per lot on ECN and 5 USD per lot on Elite. Overnight swap rates are not published anywhere on the site, so the cost of holding a position beyond a day cannot be checked before opening an account.

The withdrawal page states 24 hours on every method and no withdrawal fee. The deposit page contradicts this for bank transfers, noting that wire withdrawals usually take three to five working days to reach the account. Withdrawals must go to an account in the client's own name, and third party payments are not accepted.

MetaTrader 5 is the main platform, available as a branded Windows build, as Apple, iOS and Android apps, and as a browser terminal. MetaTrader 4 is not offered. The site also publishes Windows downloads for a platform called Dragon Trader and, on its DMA Stocks page, for Hammer Pro, Hammer Lite and three Sterling programs. Apart from the Windows MetaTrader 5 installer, those files are served from a host that is not on the broker's own domain.

Up to 1:500 on the Micro, Standard, Swapfree and Elite plans, and up to 1:300 on the ECN plan. The separate Account Types page quotes a lower ceiling of 1:300 for the Standard account, so the two published figures for that plan do not agree. At 1:500 a loss moves against a deposit five hundred times faster than the underlying price.

The lowest entry is 100 USD on the Micro plan. The other plans require 1,000 USD for Standard, 2,000 USD for Swapfree, 10,000 USD for ECN and 20,000 USD for Elite. A bank wire deposit carries its own minimum of 100 USD or the equivalent in euros.

The site is operated by Moneyplant FX LTD, registered in the Comoros Union under number HT00324030 at Bonovo Road, Fomboni, Island of Moheli. That company is confirmed as active in its Legal Entity Identifier record, which shows it was created on 13 March 2024. No directors, officers or beneficial owners are named anywhere on the website, and the same record reports no known controlling person.

Nothing confirmed in this review shows Moneyplant FX to be fraudulent, but several of the protections a client would rely on are missing. The operating company is real, active and traceable in an official record. Against that, the site publishes no terms of business, the document it presents at signup as its terms and conditions is a risk disclosure notice, and its regulation claim is unconfirmed. It should be treated as high risk and unverified rather than either safe or proven dishonest.

Moneyplant FX claims one offshore licence that has not been confirmed. Its homepage states that Moneyplant FX LTD is authorised by the Mwali International Services Authority of the Comoros under licence number BFX2024047, and it publishes a certificate dated 19 March 2024 to support that. This review did not confirm the entry on the authority's own register, so the licence is claimed rather than held. There is no licence from any onshore regulator.