Maunto is a forex broker established in Saint Lucia in 2023, providing trading services for financial derivatives such as forex, indices, cryptocurrencies, commodities, stocks, and precious metals. Maunto offers various account types, including Classic, Silver, Gold, Platinum, and VIP, each with different spreads, leverage, and trading volume limits.
Company Background:
Maunto was registered as a brokerage firm on October 11, 2023, in Saint Lucia, under the company entity DataWave Tech Ltd, with registration number 2023-00512. The company's registered address is P.B. Bonovo Road, Fomboni, Comoros, KM. As an emerging financial service provider, Maunto's official website domain was registered on April 3, 2023, indicating a relatively short establishment period. According to Maunto's official website (https://www.maunto.com/), the company offers a broad range of financial derivative trading services, including forex, indices, cryptocurrencies, commodities, stocks, and precious metals. Additionally, DataWave Tech Ltd does not provide its services to residents of the European Union or any other jurisdictions where such services are prohibited by law and regulations.
Regulatory Status:
Maunto claims to be regulated by the Comoros Moheli International Services Authority (MISA) with license number T2023409. Investors should note that MISA is an offshore regulatory body, which typically has lower standards and rigor. Consequently, the forex services offered by Maunto are not under effective regulation.
The offshore regulatory environment is relatively relaxed and may not provide the same level of investor protection as regulatory bodies in major financial centers. Therefore, investors should be particularly cautious about potential risks when choosing Maunto for forex trading and fully understand the implications and limitations of offshore regulation.
Because the forex services provided by Maunto are not effectively regulated, investors should carefully consider their risk tolerance, conduct thorough research, and be well-prepared before engaging in trading.
Trading Products:
Maunto brokers offer various financial derivative trading services across multiple markets and asset classes. Its trading products include indices, forex, cryptocurrencies, stocks, commodities, and precious metals, each with different leverage rates.
Indices
Maunto provides trading for several major global indices with leverage up to 200x. Tradable indices include AUD200, DE40, ES35, F40, JP225, and N25, covering the market performance of several major economies.
Forex
In forex, Maunto offers CFDs trading for over 45 forex currency pairs, including major pairs, minor pairs, and exotic pairs. Leverage can go up to 400x, with tradable pairs including AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, and CADJPY.
Cryptocurrencies
Maunto also offers cryptocurrency trading services involving major cryptocurrency pairs, with leverage up to 5x. Tradable cryptocurrency pairs include BTCUSD, BCHUSD, ETHUSD, LTCUSD, XRPUSD, DOGEUSD, and DSHUSD, providing opportunities for investors to participate in the digital asset market.
Stocks
In stock trading, Maunto offers CFDs trading for over 150 of the most popular stocks, with leverage up to 1:5. Tradable stocks include AAPL.OQ, AIG.N, AMZN.OQ, BA.N, BABA.N, and BAC.N, covering renowned companies across technology, finance, and retail industries.
Commodities
Maunto's commodities trading services include CFDs trading for various commodities with leverage up to 200x. Tradable commodities include BRENT, USOIL.c, COCOA.f, COFFEE.f, USCOP.f, COTTON.f, and NGAS.f, providing diverse investment options.
Precious Metals
In precious metals trading, Maunto offers trading for various precious metals, including gold and silver, with leverage up to 200x. Tradable precious metals include XAUEUR, XAUUSD, XAGEUR, XAGUSD, XPDUSD, and XPTUSD, providing stable hedging options for investors.
Trading Platform:
Maunto brokers offer the Maunto’s WebTrader trading platform, which covers over 160 CFDs, including the most popular asset classes in the market. Users can easily access the platform from any device. Additionally, the platform provides tools such as trading history and analytical reports to help users optimize their trading strategies. However, the broker does not offer a download option, and users cannot download it via the official website.
Account Types:
The broker offers various account types to cater to different investors' needs. Whether beginners or experienced traders, they can choose the most suitable account type according to their preferences and trading styles. Each account type has different spreads, leverage, and trading volume limits to ensure trading flexibility and security.
- CLASSIC Account:
The CLASSIC account offers moderate spreads and leverage with flexible trading volume limits. In terms of spreads, EUR/USD is 2.5, GBP/USD is 2.8, USD/JPY is 2.8, and crude oil is $0.14. In terms of leverage, forex trading can go up to 1:400, silver and gold (metals) up to 1:200, and indices, commodities, and stocks/equities leverage up to 1:200 and 1:5, respectively. The minimum trading volume per trade is 0.01, and the maximum trading volume is 50.
- SILVER Account:
The SILVER account shares the same trading conditions as the CLASSIC account, including spreads and leverage. This account is suitable for investors who have some understanding of trading conditions but still wish to maintain basic standards. Investors can conduct steady trading through the SILVER account and enjoy a similar trading experience to the CLASSIC account.
- GOLD Account:
The GOLD account offers more competitive trading conditions, suitable for traders seeking lower costs and higher leverage. The spreads for this account are lower than the CLASSIC account, such as EUR/USD being 1.8, GBP/USD being 2.3, USD/JPY being 2.3, and crude oil being $0.13. The leverage remains the same as the CLASSIC account.
- PLATINUM Account:
The PLATINUM account further reduces spreads to EUR/USD: 1.4, GBP/USD: 2, USD/JPY: 2, and crude oil: $0.12, while maintaining the same leverage as the CLASSIC account. This account is ideal for investors sensitive to trading costs and seeking more competitive trading conditions.
- VIP Account:
The VIP account is the highest level account type offered by the broker, designed for high-frequency or large-volume traders. This account has the lowest spreads and highest leverage, with EUR/USD: 0.9, GBP/USD: 1.4, USD/JPY: 1.4, crude oil: $0.10, and the same trading volume limits as other account types.
Spreads and Commissions:
Each type has different spreads and trading conditions. The Classic account is one of them, with high spreads, for example, EUR/USD at 2.5. The Silver account has similar spreads to the Classic, while the Gold account's spreads are relatively lower, with EUR/USD at 1.8. The Platinum account further reduces spreads, for instance, EUR/USD at 1.4. The VIP account offers the lowest spreads, such as EUR/USD at 0.9. Although spreads are the primary trading cost, these account types do not seem to involve commissions. Additionally, each account type has minimum and maximum trading volume limits.
Leverage Ratios:
The broker offers various account types, each with different leverage ratios. For CLASSIC, SILVER, GOLD, PLATINUM, and VIP accounts, forex leverage goes up to 1:400, silver and gold (metals) leverage up to 1:200, and indices, commodities, and stocks/equities leverage up to 1:200 and 1:5, respectively. This differentiated leverage setup allows investors to choose the most suitable account type based on their trading preferences and risk tolerance.
Other Fees:
Maunto brokers charge various non-trading fees, including withdrawal fees, inactivity fees, maintenance fees, and swap fees. For withdrawal fees, the first withdrawal is free if the account is fully verified and at least one trade has been completed; otherwise, a $10 fee applies. Subsequent withdrawals incur additional fees, such as 3.5% for card transactions and $30 for wire transfers. Inactivity fees increase based on the inactivity period, ranging from €100 after one month to €500 after six months. Maintenance fees are fixed at $10 per month, regardless of account activity. Swap fees are calculated daily for overnight positions and triple on Wednesdays to cover weekends. These fees vary by asset class, including forex, cryptocurrencies, commodities, indices, and stocks.
Customer Support:
Maunto brokers offer various contact methods, including email support at support@maunto.com. They also provide real-time online chat services, allowing customers to interact with support agents via the website. For clients needing immediate assistance or having urgent issues, they offer phone support, and customers can call +44 203 150 2 347 to directly contact the support team.
Conclusion:
Maunto is a forex broker registered in Saint Lucia, operated by DataWave Tech Ltd. As an emerging financial service provider, its official website indicates that it offers trading services for financial derivatives such as forex, indices, cryptocurrencies, commodities, stocks, and precious metals. The broker claims to be regulated by the Comoros Moheli International Services Authority (MISA), but MISA is an offshore regulatory body with lower standards and rigor, potentially lacking the level of investor protection provided by regulatory bodies in major financial centers. Additionally, the broker charges various non-trading fees, including withdrawal, inactivity, maintenance, and swap fees. Overall, investors should pay attention to Maunto's regulatory status and fee policies, conduct thorough risk assessments, and be well-prepared when choosing to trade forex with Maunto.
Currently, Maunto is marked as "suspected fraud" on TraderKnows.
