Table of Contents
- 1 Overview
- 1.1 What is ModMount?
- 1.2 Is ModMount a scam or legitimate platform?
- 1.3 How can you withdraw funds?
- 1.4 Deposit Methods and Minimum Requirements
- 1.5 Trading Instruments on ModMount?
- 1.6 Pros and Cons of ModMount
- 1.7 Fees and Commissions
- 1.8 Inactivity Fees
- 1.9 Trading Accounts
- 1.10 How to Open an Account with ModMount?
- 1.11 Available Trading Platforms
- 1.12 Educational and Research resources
- 1.13 Customer Care
- 1.14 Conclusion
A brokerage firm acts as an intercessor between buyers and sellers in the financial markets. Their primary role is to facilitate the completion of transactions involving various financial instruments such as stocks, bonds, options, and other securities.
Buyers and sellers rely on brokerage firms to execute their trades and ensure a smooth and efficient process. These brokers charge fees, these fees are typically charged once the transaction is completed, reflecting the services provided by the brokerage firm.
By connecting buyers and sellers, brokerage firms play a vital role in maintaining liquidity and enabling market participants to access and trade financial instruments.
If you are thinking of finding the best online broker that has all the facilities for successful trading then you are at the right place. Today we have analysed one of the brokerage firms, ModMount.
Mod Mount review will offer you what the broker has to provide you. Also, you can understand whether the platform is secure for your trading or not. In short, we’ll be exploring the broker’s services and know if it is a scam or secure trading platform.
So, let’s dive in.
What is ModMount?
ModMount is a financial brokerage company. It is owned by ModMount Services Limited, Seychelles. The broker was established in 2022 and has a range of trading services to offer its clients.
Traders can have various offerings that support them to ensure a favourable trading. To analyse the broker and its offerings here we have the ModMount at a glance:
|Trading Instruments||Forex, Stocks, Indices, Soft and Energy commodities, Precious metals and Cryptocurrencies|
|Trading Platform||MetaTrader4 and WebTrader|
Is ModMount a scam or legitimate platform?
ModMount is a legitimate trading platform. Since its incorporation in 2022 it has been regulated by the Financial Services Authority (FSA). The authority ensures secure trading and operations of the brokerage company.
The licence number of the company is SD119. The company is operating under ModMount Services Limited and its registration number is 8426105-1. Besides, the secure trading facilities such as encryption, commitment to responsible practices and transparency online makes it a trustworthy broker.
Also, the broker ensures that funds of clients are segregated. And adhering to the regulation of the authority makes it a secure broker readily accessible.
How can you withdraw funds?
In terms of fees, debit/credit card and e-wallet withdrawals are levied with a 3.5 percent fee. Conversely, wire transfers carry a fee of 30 EUR/USD.
The minimum amount required for withdrawing funds via wire transfers is 100 EUR/USD, whereas for credit cards, it is 10 EUR/USD.
Deposit Methods and Minimum Requirements
ModMount lays a very convenient method for payment of the trading, so that even a novice can trade effectively with the broker.
Amongst them are Wire transfers, which offers traders to deposit money from one account to another.
Debit/Credit Cards, by linking their cards users can start trading.
Alternative Payment Methods such as online transfers and e-wallets are accepted by ModMount.
Trading Instruments on ModMount?
ModMount offers clients with the following financial markets to trade and access a range of trading instruments:
Pros and Cons of ModMount
|Regulated financial broker||Does not have same day cashouts|
|Offers range of trading instruments||Limited educational material|
|News updates and notifications|
|Provides negative balance protection|
|User-friendly trading platform|
|Maximum leverage 1:400|
Fees and Commissions
|Wire Transfer||30 USD/EUR|
|Inactivity Period||Monthly Account Inactivity fees|
|0 to 30 days||0|
|After 30 days||100 USD|
|After 60 days||250 USD|
|After 6 months||500 USD|
ModMount provides traders with four trading accounts that meet the needs of all levels of traders. These accounts are formed according to traders needs and wants, they can choose which account suits them and their pockets.
How to Open an Account with ModMount?
Traders can open their trading account at the ModMount platform by following given steps:
- Initial step is to visit the official website of the broker.
- Next, click on create an account tab.
- A new page opens up with a form for traders to fill.
- Enter the details correctly and click on the register tab.
- Then submit the questionnaire that appears on the screen.
- Following which traders have to submit documents asked by the brokers. They have to upload the documents on the website for verification.
- Once verified traders then can deposit the amount to begin trading.
Available Trading Platforms
MT4 provides traders with real-time access to market liquidity and prices. With real-time access to market prices and liquidity, you can make informed decisions regarding buying or selling assets.
This timely information allows you to react quickly to market fluctuations and take advantage of favourable trading opportunities.
Having real-time access to market prices and liquidity is essential for active traders, investors, and financial institutions who require accurate and up-to-date information to make informed decisions and execute trades effectively.
WebTrader is an exceptional trading platform specifically designed to facilitate swift execution in a dynamic trading environment. It encompasses all the essential features one would anticipate from a tailor-made platform, enabling you to construct and manage portfolios across seven different asset classes.
With WebTrader, you can execute trades rapidly and efficiently. The platform is optimized to deliver a seamless trading experience, allowing you to swiftly react to market fluctuations and capitalise on opportunities as they arise.
Educational and Research resources
The availability of educational and research resources is crucial for traders looking to enhance their knowledge and make informed trading decisions. While some broker websites may lack comprehensive resources, it is advisable for traders to consider platforms that offer a range of educational materials and research tools.
For example, brokers like XPro Markets and Elland Road Capital are known for providing extensive educational resources to their clients. These resources often include chart analysis, daily news updates, video lectures, in-depth explanations of forex-related topics, and trading e-books.
Such resources cater to both novice and experienced traders, offering valuable insights and strategies to improve trading skills.
By choosing a broker that offers abundant educational and research materials, traders can benefit from continuous learning, stay updated with market trends, and develop their trading expertise. It is essential to explore and compare different brokers to find the one that aligns with your educational needs and trading goals.
- E-mail: [email protected]
- Live Chat
- Phone number: +2484632002
ModMount is a trustworthy regulated financial broker. It has proper licence to operate in the market with regulation of the Financial Services Authority Seychelles. Traders can easily open their account by providing certain information and documents to get verified. The review lists major facilities of the broker and how traders can open their account. Besides, it mentions the pros and cons of the broker, products available such as forex, stocks, commodities, cryptos, metals and indices.
A legitimate and secure trading platform for various levels of brokers in the market.
Is the broker ModMount regulated by any authority?
Yes, it is regulated by the Financial Service Authority, Seychelles.
Which softwares is available to trade on ModMount?
ModMount offers MetaTrader 4 and WebTrader.
How many types of accounts are offered by ModMount?
There are 4 types of accounts offered by ModMount, that is, Classic, Silver, Gold and Platinum.
Do MoundMount offer Demo accounts for traders?
Yes, ModMount offers a Demo account for traders, on which they can start trading with virtual transactions.
What is the maximum leverage offered by ModMount?
Minimum leverage offered by ModMount is 1:400
What is the minimum age of a trader to trade on ModMount?
Minimum age of trader to trade on ModMount is 18 years.