MONSTRADE

Broker Reviews for MONSTRADE - Overview, Features and Trading Terms

Introduction/Overview

MONSTRADE is an Online Trading broker that uses the catchy tagline "The Monster Trading Broker". This broker has been created for traders wanting to trade multiple asset classes using one trading platform. The MONSTRADE broker supports the well-respected METATRADER 5 (MT5) trading platform and has numerous trading products available; this makes it appealing to all traders; both novice and those with more experience are looking for diversity and flexibility within their trading activities.

Background/History

The MONSTRADE official website does not disclose the basic corporation and company details (i.e., Year Established, Owner, Headquarters) for the broker nor does it provide much detail about the broker's formation or corporate events throughout history. The MONSTRADE emphasis is on their trading platform and product range, so before opening a trading account, traders should consider these missing details about the broker during their due diligence.

Key Offerings and Features

Multi-Asset Trading

The MONSTRADE Broker provides access to numerous asset types, including:

Forex

Commodities

Bonds

Metals

Cryptocurrency

CFD

This broker claims to offer greater than 12,000 instruments to trade, meaning traders can gain exposure to various asset classes around the world from one account.

Account Types and Trading Platforms

The MONSTRADE Broker uses the METATRADER 5 (MT5) Trading Platform, which can be accessed on both Desktop, Tablet and Mobile Devices. The METATRADER 5 platform is known for its advanced charting capabilities, Automated Trading, and Multi-Asset capabilityAccount Categories That the brokerage firm offers Live Accounts and Demo Accounts What the brokerage firm has not released is any information on the different types of accounts available (such as ECN or Standard Accounts) and requirements needed to open these account types.The brokerage firm does not provide any documentation about the various regulatory regulatory bodies and it is not known if there are any licenses associated with MONSTRADE, thus preventing customers from being able to determine whether they are compliant with any government regulations.

Below is a table outlining the major services provided by MONSTRADE:

Member of a Regulatory Body Regulatory Body | License Number | Status

--- |--- | ---

Not Disclosed | Not Disclosed | Not Listed on MONSTRADE Website

Trading Conditions/Technology

Trading Conditions

Based on statements given on the MONSTRADE website, they claim that they have Competitive Spreads and allow their clients to trade over 50 currency pairs and thousands of CFDs. However, they do not state what Competitive Spreads are nor do they disclose the Max Leverage Rate or minimum Initial Deposit or Commission amounts of these Commission rates.

Platform Technology

The trading platform that MONSTRADE uses to allow clients to trade is the base version of the MT5 platform. They do Not use any Proprietary Technology or Proprietary Tools and only allow their clients to have access to the standard features provided by the MT5 Platform.

The table below provides a summary of MONSTRADE's services.

Feature Services

--- | ---

Trading Platform | MetaTrader 5 (MT5) for PC & Mac (Desktop), Tablets & Smartphones (Mobile)

Competitively Priced Spreads | Competitive (exact information unknown)

Maximum Leverage | Not disclosed

Minimum Required Deposit | Not disclosed

Commissions Per Trade | Not disclosed

Use of proprietary tools | None

Fee Structure

As the MONSTRADE website does not include a published schedule of all fees and commissions associated with trading through them, it is very difficult to determine what costs may be involved with the use of their company.

Fee Type Services

--- | ---

Deposit Fee | Not disclosed

Withdrawal Fee | Not disclosed

Inactivity Fee | Not disclosed

Commission on Trades | Not disclosed

User Experience/Industry Reputation

MONSTRADE appears to have created their user-friendly and easy-to-navigate website for experienced traders but does not have any Third-party Verified Reviews or Ratings or Evaluations posted on the website by customers. Despite this, the strength of their Business and the use of MT5 suggests that they are a reputable brokerage; however, due to the unavailability of information about MONSTRADE regulatory compliance, their Fee Schedule and Trading Conditions, these items represent the areas Trader's will need to be the most Wine in making their decision to open a trading account with MONSTRADE.

To summarize, MONSTRADE has marketed itself as a multi-asset brokerage through their platform providing over 12,000 different trading instruments and has also provided Demo and Live accounts to its clients. For traders looking for a great variety of trading opportunities with a familiar platform, these services may have the most draw due to the increased accessibility.

Due to the lack of published regulatory documentation, lack of distributed and detailed trading conditions, and lack of transparency surrounding the Fee Schedule, traders should perform extensive Due Diligence before opening a trading account with MONSTRADE. In addition, while MONSTRADE has a good reputation, offers superior technology and numerous trading opportunities, as always, traders should only use reliable information when making trading decisions.