Moonance is a trading name of Moonance LLC, a company incorporated in Saint Vincent and the Grenadines. Generally, that’s not a good sign, but this company has an ace in its sleeves. That’s its regulatory status.
But is that enough for the company to be trusted? Let’s find out together in this honest Moonance review. Also, we invite you to check our bonus tips from Globalinwest and Inveslo reviews.
| Regulated by: | Offshore regulated broker – MISA |
| Is This Company Safe? | No |
| Known Websites: | Moonance.com |
| Have Warnings from: | N/A |
| Registered in: | Saint Vincent and Grenadines |
| Operating since: | 2022 |
| Trading Platforms: | cTrader |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | $250 |
| Deposit Bonus: | N/A |
| Trading Assets: | Forex, Commodities, Indices, Shares |
| Free Demo Account: | Not available |
| How to Withdraw from This Company? | Generally, with all regulated companies you shouldn’t have any withdrawal problems. Yet, with offshore regulated brokerages, everything is possible. Therefore, if you experience any issues, don’t hesitate to seek our professional refund assistance. |
Legal info: Is Moonance legit?
Since the Financial Services Authority (FSASVG) is not issuing forex licenses, the company should opt for ones outside of the country. There are numerous top-tier choices that provide maximum security for traders, such as FCA, ASIC, and BaFin.
However, this brokerage opted for a less-known one. It is a MISA (Mwali International Services Authority) license. The main problem with such regulation is the fund protection features. For instance, with FCA-regulated brokerage, you have negative balance protection, guaranteed stop-loss, and a compensation scheme of up to 85.000 GBP. You don’t have such safety with Moonance brokerage and their MISA license.
Who are Moonance clients?
Throughout Moonance reviews, we could see their clients are coming from all over the world. However, to provide services to some of those, they must have licenses from authorities in those countries. Yet, they don’t. This tells you all about their legitimacy. Anyway, most of the clients come from:
- Italy
- United States
- United Kingdom
- United Arab Emirates
- Canada
There are at least five different top-notch regulations they could choose. But instead, they choose MISA. Nevertheless, if you recognize any trading or withdrawal issues, feel free to contact our team.
Traders Reviews
In general, it’s hard to trust any reviews nowadays. Obviously, everything can be paid. Anyway, this company has 18 comments on Trustpilot, and the percentage between 5 stars and 4 stars is split.
Overall, the comments appear good. However, we mentioned there’s an irregularity with the regulations required for some of those countries. Therefore, we encourage you to share your opinion about this company and help us and other traders learn more about them.
Leverage, Commissions, Spreads, Fees, and Taxes
One of the huge disadvantages of this company is its leverage of up to 1:500. Yes, traders think they can make more. But very easily, they can also lose more.
After all, regulators didn’t set up limits for no reason. The starting spread for the Classic account goes from 2 pips, which is already above the industry average. Apparently, all the commissions are set to $0.
Bonuses
Even though there’s no welcome bonus, traders can earn a referral bonus. Quite a big one of $200 for one invite and $50 for a referred friend. However, bonuses very often contain shady clauses that can impact your withdrawals. Therefore, we suggest you read the conditions first.
Moonance Trading Features
One of the key features of this company is the copy trading option. Traders can manage their investments with fixed investment accounts or percentages. They can also fully automate the opening and closing of the trades. However, this would be quite a bald move, knowing this company has weak regulations.
Trading Platforms Available
One of the nice surprises about this brokerage is its trading software choice. They offer one of the very popular and highly trusted options, cTrader.
With all of its advanced features, customization, and research options, it has become MetaTrader’s best competitor. Yet, you should keep in mind the software is not making the broker legit.
Available Trading Assets
Whether you are looking for crypto, stocks, or commodities, you have it all with this company. Sadly, stock trading is only provided to Elite Account users. All possibilities you can find with this broker are:
- Forex – USD/GBP, AUD/NZD
- Indices – DAX 30, CAC 40
- Stocks – American Airlines, Deutsche Bank
- Commodities – gold, silver
- Cryptos – XRP, DOT
Account Types
In general, Moonance account types have very slight differences. Mainly in stop-out levels, leverage, spreads, and minimum trading volume. But there’s a big gap between the Moonance minimum deposit amounts required. Practically, you get close to zero benefits for depositing more money. The options are:
- Classic – $250
- VIP – $10.000
- Elite – $50.000
Mobile Trading App
Another important detail is that all mobile users can use cTrader freely wherever they are. With user-friendly and fast iOS and Android apps, they quickly rose in popularity among traders.
However, traders should keep in mind that the software is not approving withdrawals. The company is.
Demo Account
If you are just exploring and looking for a decent broker, it’s good that this one offers a demo account. This way, you can test out their features and see how you like it. However, leaving contact information with offshore regulated brokers and Tier 1 regulated companies is not the same.
Education
If you were expecting to get an adequate education, you should start looking for another broker on time. Yes, there is a Moonance copy trading feature available. But the key to success in trading is knowledge. Yet, this platform doesn’t offer any.
Moonance Withdrawal
One of the worst things you can see in policy is that the company has the right to withhold any withdrawal. Therefore, potential issues can always be expected. Not to mention, the only payment method is through their wallet.
Nevertheless, the company charges a 15 euro withdrawal fee for all withdrawals below $100. For higher amounts, the fee is not disclosed. Neither is the processing time.
Customer Support
The thing we expected this company to have is adequate customer support contact options. However, the only option available is live chat through WhatsApp. But if you didn’t know, those messages are encrypted. Instead, you should opt for companies that offer call center phone lines where you can record all the calls. Just in case.
Key Information To Consider About Moonance
As mentioned, their regulation can’t be compared to the most trusted ones. Even though they offer highly trusted trading software, that doesn’t mean everything will be good. The company is freshly registered, and there’s plenty of time to prove itself or destroy its reputation. We are about to see.
Meanwhile, if you have any withdrawal problems with any brokerage, you can always reach out to our team. With our professional expertise in refunds and chargebacks, we can guide you step-by-step to recover any lost funds.
FAQ Section
What is Moonance?
Moonance is an offshore Forex and CFD brokerage registered in Saint Vincent and Grenadines in 2022.
Is Moonance LLC a Regulated Broker?
Indeed, yes. The company holds offshore regulation from the Mwali International Services Authority (MISA) with the number T2023270.
How to Recover Money from a Trading Fraud?
The easiest option is chargeback. Yet, sometimes it’s not available. Therefore, the best option is to talk to professionals and get adequate advice. Contact us to find more details.
