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Moneta Markets in Nigeria — review, licence and costs
Cost calculator (median of 57 priced of 81)
Score (6 of 6 axes scored)
ranked against full-basis brokers
Who actually onboards you
- Entity that onboards Nigeria residents
- Moneta Markets Ltd
- Local standing
- Offshore (Seychelles FSA); not registered with the Nigerian SEC; no local investor-compensation scheme.
- Licence as the register states it
- No Nigerian (SEC Nigeria) licence; served under Seychelles FSA Securities Dealer licence SD144.
- Leverage for this entity
- Up to 1:1000 on forex/metals via the offshore entity; no local SEC cap.
- The firm behind it
- Launched ~2019-2020 by founder/CEO David Bily; originated inside Vantage International Group, now independent under Moneta Markets Excellence Holding Ltd.
- What we hold against it
- Offshore broker; caveat is Seychelles/St Lucia entity vs local protection; no verified SEC Nigeria alert-list entry at review.
Leverage by entity
The licence belongs to the firm; a leverage figure belongs to one entity. Only the entity that onboards Nigerian residents enters the score.
Scale from 1:10 to 1:3000, logarithmic.
Client protection
- Local entity onboards youOffshore (Seychelles FSA); not registered with the Nigerian SEC; no local investor-compensation scheme.
- Regulator warning on filenone found
— means the broker does not state it in any source we captured. It is not read as “no protection” and it is not scored.
Price against Nigeria market median(priced from 57 of 81)
Medians run over the 57 of 81 brokers that publish a price for Nigeria, never over the whole base. A spread without its commission is not a price and is not counted.
Accounts
Account types the broker names for this country: Direct STP (min USD 50, spread-only from ~1.2 pips), Prime ECN (min USD 50, from 0.0 pips + ~USD 3/side), Ultra ECN (min USD 20, 000, from 0.0 pips + ~USD 2/lot round-turn). The figures below are the broker's own and do not differ by account in any source we captured.
Swap-free account terms
Terms read from the account page on 01.10.2026. The cap on open positions is not published.
Payouts
Identical for every row: Deposit, h 24 · Fee, USD 0 · Min, USD 50.
Taxes for a Nigerian resident(1 rule)
- Trading profits are taxable and must be declared to the Nigeria Revenue Service (NRS, formerly FIRS).https://monetamarkets.com/about-us/moneta-markets/regulation
Not tax advice. Check with the FIRS.
Deposit and withdrawal methods (5 methods · 0 local rails)
Bank/wire, Visa/Mastercard, FasaPay, SticPay and crypto;
- Wire
- Visa
- Mastercard
- FasaPay
- Crypto
- Account currency
- USD-denominated for this market; no NGN local-currency account (USD/EUR/GBP etc. offered).
- Fee declared
- 5 of 5 methods
- Withdrawal back to
- the funding method
Where it does not serve(8 countries)
From the client agreement, clause 2.3. A country missing from a translated page is not read as “served”.
Platforms and markets(5 platforms)
- MT4
- MT5
- PRO Trader (web)
- AppTrader (mobile)
| Class | Count | Min spread |
|---|---|---|
| MT4 | — | 1.2 |
| MT5 | — | 1.2 |
| PRO Trader (web) | — | 1.2 |
| AppTrader (mobile) | — | 1.2 |
| All instruments | 1000+ | — |
147 further account types are named by their brokers but publish none of these figures, so they are not in the comparison: Eightcap Standard, Eightcap Raw, Fusion Markets Classic account, Pepperstone Standard, Pepperstone no minimum deposit, Trade Nation Two live tiers - lower-leverage and 141 more.
Identical for every row: Leverage 1000 NG.
Reviews(1 platform · 25% of the score)
| Snapshot | Rating | Reviews |
|---|---|---|
| 02.10.2026 | 4.1 | 424 |
Share of reviewers in Nigeria: — The platform does not publish it.
Pros and cons(4 for and 5 against, each tied to a figure on this page)
- Withdrawal in 24 h, one of 71 of 81 brokers here that publish a time
- Swap-free account available
- Round-turn cost 90 of 100, its strongest of 6 scored axes
- 4 platforms: MT4, MT5, PRO Trader (web), AppTrader (mobile)
- Round turn 7 USD on the raw + commission basis, over the Nigeria median 6.5
- No Nigeria authorisation on file: the entity that onboards you is licensed elsewhere
- Min deposit 50 USD, over the Nigeria median 20
- The published 1:1000 comes from the group's offshore entity, not from the Nigeria one
- Safety 10 of 100, its weakest of 6 scored axes
Alternatives in Nigeria(5 of 81 scored in Nigeria)
- Round turn, USD
- 6NG
- Min deposit, USD
- 50NG
- Leverage
- 1000NG
- Rank in this country
- #18
- Round turn, USD
- 6NG
- Min deposit, USD
- 50NG
- Leverage
- 500NG
- Rank in this country
- #24
- Round turn, USD
- 9NG
- Min deposit, USD
- 25 groupNG
- Leverage
- 1000 group
- Rank in this country
- #2
- Round turn, USD
- 6NG
- Min deposit, USD
- 50 groupNG
- Leverage
- 500NG
- Rank in this country
- #12
- Round turn, USD
- 7NG
- Min deposit, USD
- 50NG
- Leverage
- 500NG
- Rank in this country
- #14
"group" marks a figure the broker publishes for the group rather than for this country. It is shown because the broker states it, and it is not ranked, averaged or used to sort.
Methodology(6 axes · formula v1.0)
Score = 2 + 3 × weighted mean of six axes scored 0–100. Range 2.0–5.0. An axis without data drops out and the remaining weights are renormalised; it is never scored zero or estimated. Group-wide figures never enter a Nigeria score. Full methodology
| Axis | Weight | What is measured | Moneta Markets |
|---|---|---|---|
| Reviews | 25% | Rating, volume and recency on one public review platform | 55 |
| Round-turn cost | 20% | Round turn on 1 lot EURUSD: spread plus commission, against the country median | 90 |
| Safety | 20% | Local authorisation, the entity that onboards you, any regulator warning | 10 |
| Payouts | 15% | Published withdrawal time, fees and the methods available in the country | 80 |
| Track record | 10% | Years since the firm was founded, from its own filings | 35 |
| Platforms | 10% | Which trading platforms the broker confirms for this country | 50 |
Where Moneta Markets sits in the Nigeria base(81 brokers)
Round-turn cost, USD (57 of 81 priced)
Median 6.5 USD · range 3-20 · this broker 7 USD · 24 of 81 brokers do not publish it
Minimum deposit, USD (29 of 81 priced)
Median 20 USD · range 0-100 · this broker 50 USD · 52 of 81 brokers do not publish it
Retail leverage (53 of 81 with a Nigeria figure)
Median 1:500 · range 100-3000 · this broker 1:1000 · 28 of 81 brokers do not publish it
Withdrawal time published (81 brokers)
FAQ
- Does Moneta Markets accept residents of Nigeria?
- No. Offshore (Seychelles FSA); not registered with the Nigerian SEC; no local investor-compensation scheme. Onboarding entity: Moneta Markets Ltd
- Is Moneta Markets licensed to serve clients in Nigeria?
- No Nigerian (SEC Nigeria) licence; served under Seychelles FSA Securities Dealer licence SD144. Checked on 09.07.2026.
- How much does one round turn cost at Moneta Markets?
- About 7.0 USD per standard lot on EUR/USD. The median across brokers measured for Nigeria is 6.5 USD.
- What leverage does Moneta Markets offer to retail clients in Nigeria?
- Up to 1:1000. Up to 1:1000 on forex/metals via the offshore entity; no local SEC cap.
- Which trading platforms does Moneta Markets support?
- MT4, MT5, PRO Trader (web), AppTrader (mobile). Instruments: 1,000+ instruments: forex, indices, commodities, share CFDs, crypto CFDs, ETFs and bonds.
- How can I withdraw money from Moneta Markets in Nigeria?
- Bank/wire, Visa/Mastercard, FasaPay, SticPay and crypto; Nigeria-specific bank-transfer rail not verified at review.
- What account types does Moneta Markets offer?
- Direct STP (min USD 50, spread-only from ~1.2 pips), Prime ECN (min USD 50, from 0.0 pips + ~USD 3/side), Ultra ECN (min USD 20,000, from 0.0 pips + ~USD 2/lot round-turn).
- Does Moneta Markets offer a swap-free (Islamic) account?
- Yes. Moneta Markets offers a swap-free (Islamic) account to Nigeria residents.