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Global Broker Regulation & Inquiry App

Score

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/10

Monecor

Germany|2-5 years|
Suspicious Overrun|High potential risk|

https://monecorlimited.com/

Website

Rating Index

Contact

+49 30520077630
support@monecorlimited.com
https://monecorlimited.com/
Deutschland Frankfurt, Schillerstr 15-17, 60313 Frankfurt/Main
Warning: Low score, please stay away! 7
Previous Detection : 2024-11-11
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United KingdomFCA regulation (license number: 186171) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The CyprusCYSEC regulation (license number: 259/14) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The Cayman IslandsCIMA regulation (license number: 1442313) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The United Arab EmiratesDFSA regulation (license number: F000048) claimed by this broker is suspected to be clone. Please be aware of the risk!
  • The Cayman Islands CIMA regulation with license number: 1442313 is an offshore regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

Monecor · WikiFX Survey

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Monecor · Company Summary

Monecor Review Summary
Founded2-5 years
Registered Country/RegionGermany
RegulationSuspicious Clone
Market InstrumentsForex, Stocks, Indices, Cryptocurrencies, Commodities
Demo AccountNot mentioned
LeverageNot mentioned
SpreadFrom 0.1 pips
Trading PlatformMonecor Limited(Android and iOS)
Min DepositNot mentioned
Customer SupportPhone: +49 30520077630
Email: support@monecorlimited.com

Monecor Information

Monecor is a broker. The tradable instruments, with three account types, such as Fixed, Classic, and Raw accounts, include forex, stocks, indices, cryptocurrencies, and commodities. The minimum spread is from 0.1 pips. Monecor is still risky due to its suspicious clone status and unclear fee situation due to its closed official website.

Monecor Information

Pros and Cons

Pros Cons
Various tradable instruments: Forex, Stocks, Indices, etc.Suspicious Clone
24/5 customer supportInaccessible official website
Fees unclear

Is Monecor Legit?

Monecor is a suspicious clone, even though it claims to be regulated by FCA, CySEC, DFSA, and CIMA. However, the broker is not as safe as a regulated one.

Is Monecor Legit?
Is Monecor Legit?
Is Monecor Legit?
Is Monecor Legit?
Is Monecor Legit?
Is Monecor Legit?

What Can I Trade on Monecor?

Monecor provides traders with various trading options involving forex, stocks, indices, cryptocurrencies, and commodities.

Tradable Instruments Supported
Forex
Commodities
Stocks
Cryptocurrencies
Indices
Shares
ETFs
Bonds
Mutual Funds
What Can I Trade on Monecor?

Account Type

Monecor currently has 3 types of trading accounts, which traders can choose to open one of them, including Fixed, Classic, and Raw accounts. Traders who prefer low spreads can open raw accounts, while Fixed and Classic accounts are more suitable for investors who mind commissions.

Account Type FixedClassicRaw
SpreadsFrom 1.8 pipsFrom 1.8 pips(variable)From 0.1 pips(raw)
CommissionFreeFree$4 per round
Account Type

Monecor Fees

The spread starts at 0.1 pips and the Fixed and Classic accounts are commission-free. However, if you open a raw account, you will be charged a commission of $4 per round.

Trading Platform

Monecor develops proprietary built-in platforms, Monecor Limited, for Android and iOS instead of authoritative MT4/MT5.

Trading PlatformSupported Available Devices
Monecor LimitedAndroid and iOS
Trading Platform
Trading Platform

Customer Support Options

Monecor provides 24/5 customer support, and traders can contact Monecor via phone and email.

Contact Options Details
Phone +49 30520077630
Email support@monecorlimited.com
Supported Language English
Website Language English
Physical Address Deutschland Frankfurt,Schillerstr 15-17.60313Frankfurt/Main

Broker Information

Company Name

Monecor Limited

Abbreviation

Monecor

Regulatory Status

Suspicious Clone

Platform registered country and region

Germany

Company website
Type of License

Description of Approved License Type

Type I

The financial instrument business deals with highly liquid securities and provides derivative transactions, which have characteristics.

As mentioned above, the main business content of the first type of financial instrument business operators can be roughly summarized as securities business (securities, securities CFD, etc.), financial futures business (FX), derivative trading business related to cryptocurrencies, securities management, etc. The work can be divided into four categories.

Type II

The financial instrument business basically refers to funds (shares of collective investment plans), trust beneficiary rights with lower liquidity, that is, financial instrument transactions excluding major securities such as stocks and corporate bonds. These are referred to as "equivalent securities" in the various items listed in the second paragraph of Article 2 of this Sale Business Law (hereinafter referred to as "equivalent securities").

In addition, the self-issuance (private placement and public offering) of certain securities such as investment trust beneficiary rights that are not regarded as securities, currency-related market derivative transactions, etc. are also positioned as Type II financial instrument business.

Phone of the company
  • +49 30520077630

X

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Facebook

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Instagram

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YouTube

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Company address
  • Deutschland Frankfurt, Schillerstr 15-17, 60313 Frankfurt/Main

Linkedin

--

WhatsApp

--

QQ

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WeChat

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Customer Service Email Address
  • support@monecorlimited.com

Company Summary

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