Monecor

Monecor | 2024-10-25 13:22

Abstract：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 Review Summary
Founded	2-5 years
Registered Country/Region	Germany
Regulation	Suspicious Clone
Market Instruments	Forex, Stocks, Indices, Cryptocurrencies, Commodities
Demo Account	Not mentioned
Leverage	Not mentioned
Spread	From 0.1 pips
Trading Platform	Monecor Limited(Android and iOS)
Min Deposit	Not mentioned
Customer Support	Phone: +49 30520077630
Customer Support	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.

Pros and Cons

Pros	Cons
Various tradable instruments: Forex, Stocks, Indices, etc.	Suspicious Clone
24/5 customer support	Inaccessible 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.

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	❌

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	Fixed	Classic	Raw
Spreads	From 1.8 pips	From 1.8 pips(variable)	From 0.1 pips(raw)
Commission	Free	Free	$4 per round

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 Platform	Supported	Available Devices
Monecor Limited	✔	Android and iOS

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