Maono Global Markets is a foreign exchange broker incorporated in South Africa, providing investors with foreign exchange, equities and index trading services. In addition, the company's website shows that it is headquartered in the Western Cape province of South Africa, and does not provide services to investors in jurisdictions that may violate local laws or regulations, such as the United States.
Company background:
The official website of Maono Global Markets shows that the company is registered in South Africa, but the registration information cannot be queried and verified through the South African government website. South African third-party business finder LexisNexis and yello sa websites did not find any registration information related to the company. In addition, according to the Whois query of the website's domain name registration information shows that the company's official website domain name registration on March 27, 2023, the domain name registration time is not more than 1 year ago.
Account Registration:
Maono Global Markets website information shows that the company provides investors with real accounts, demo account registration links. The way to register a real account is: Click "SIGN UP" on the top right corner of the homepage of Maono Global Markets official website, or click "SIGN UP" on the homepage of Maono Global Markets official website to enter the registration page. Select or fill in the name, country, phone number, Email, password and other information as required to complete the real account registration. The Maono Global Markets website account registration page is also available in English only. However, the Maono Global Markets website does not provide a link to sign up for a demo account.
Account Type:
According to the official website of Maono Global Markets, the company offers investors three types of trading accounts: Standard accounts, 100% bonus account and Micro account. However, the Maono Global Markets website does not provide the differences between these three account types in terms of minimum deposit, margin ratio, spread, commission, minimum trading unit, maximum trading unit, overnight interest and customer service.
Margin ratio:
Although Maono Global Markets' official website shows in the "account types", the company offers a guaranteed ratio of up to 1:500 for both Standard accounts and 100% bonus Accounts. However, the Maono Global Markets website does not provide information on the margin ratio of Micro account accounts and specific trading products such as forex, stocks and indices.
Margin ratio:
Although Maono Global Markets' official website shows in the "account types", the company offers a guaranteed ratio of up to 1:500 for both Standard accounts and 100% bonus Accounts. However, the Maono Global Markets website does not provide information on the margin ratio of Micro account accounts and specific trading products such as forex, stocks and indices.
Trading Hours:
The Maono Global Markets website does not provide information on the trading hours of specific trading products covered by Forex and precious metals.
Deposits and Withdrawals:
The Maono Global Markets website shows the possible deposit and withdrawal channels and methods it supports, including OZOW, paystack, match2 pay. The Maono Global Markets website, however, does not provide information about the currencies it supports, the fees and the time it takes to deposit or withdraw money.
Trading Software:
According to the Maono Global Markets website, the company offers investors MetaTrader5 (MT5) trading software, which is usually available on PC (Winodws/MacOS), Web and mobile (IOS/Android/). However, the Android version of MT5 software in some countries or regions, there are problems that can not be downloaded or downloaded installation speed is slow.
Regulatory information:
According to the Maono Global Markets website, the company is the authorized representative of Sithundhi Group (Pty) Ltd (FSP52030). Sithundhi Group (Pty) Ltd is licensed as an authorised representative with the Financial Sector Conduct Authority (FSCA) of South Africa. A search on the website of South Africa's Financial Sector Conduct Authority (FSCA) has revealed that Maono Global Markets' licence to be an authorised representative of Sithundhi Group (Pty) Ltd is genuine. It should be noted that information on the South African Financial Sector Conduct Authority (FSCA) website indicates that neither the company nor Sithundhi Group (Pty) Ltd can engage in the broking of financial derivatives.
Summary:
Maono Global Markets is suspected of operating illegally. For one thing, the Maono Global Markets website does not provide account types, details of products traded, or information on deposits and withdrawals. On the other hand, while the Sithundhi Group (Pty) Ltd authorised representative licence held by Maono Global Markets is genuine, information on the South African Financial Sector Conduct Authority (FSCA) website shows that Neither the company nor Sithundhi Group (Pty) Ltd can engage in the brokerage of financial derivatives. In addition, the website of Global Trade Finance Group Inc shows that the website of the Central Bank of Samoa (CBS), the regulator where the company is registered, does not find any regulatory information related to the company. According to this judgment, Maono Global Markets is suspected of illegal operations, and investors should be careful to choose the services provided by the company. TraderKnows reminds you, please pay attention to your property safety, to avoid falling into the fraud trap.
