Maunto Broker Review 2024

Maunto, based in Saint Lucia, is a well-known Forex and CFD trading broker founded in 2023. This platform offers over 160 instruments in various markets, including Forex, indices, commodities, cryptocurrencies, stocks, and metals.

In this Maunto Review, we'll go through everything traders need to know, from its regulatory status, unique trading conditions, and different features. Let's find out if Maunto could be the right fit for your trading journey.

Maunto Company Information & Regulation Overview

Unlike most online brokers, Maunto is driven by a mission to simplify financial market access, catering to traders from beginners to experts. Here's what you need to know about the company behind the platform:

• Company Name: DataWave Tech Ltd
• Incorporation: Saint Lucia (Registration Number: 2023-00512)
• Founding Year: 2023
• Regulatory Body: Mwali International Services Authority (MISA)
• License Number: T2023409

Maunto's regulation by MISA is important because it adds to the platform's credibility. Although MISA is less famous than top-tier regulators, it still reassures traders.

Maunto Broker Summary of Specifications

To give you a quick overview of what Maunto offers, here's a snapshot of its key features:

What are Maunto Account Types?

Maunto offers a tiered account structure to cater to different trading styles and experience levels. Let's break down the main account types:

Each account type provides access to Maunto's full range of markets and educational resources. The main differences lie in the spread offerings and additional perks at higher tiers.

Maunto broker also offers a Demo account, enabling traders to practice without financial risk. It’s an excellent way to explore strategies and get comfortable with the platform before committing to real funds.

Maunto Broker Advantages and Disadvantages

Like any trading platform, Maunto comes with its own set of pros and cons. Let's weigh them up:

Maunto Broker Account Creation & Verification

Getting started with Maunto is a straightforward process. Here's a step-by-step guide:

1. Visit the Maunto website (www.maunto.com) and click "Create Account;"
2. Provide personal information (name, email, and phone number);

3. Verify your email;
4. Choose your account details based on your preferences;
5. Upload proof of ID and proof of address documents to verify your account.

The Maunto verification process takes a few days, depending on the quality of the pictures you uploaded on Maunto website.

Maunto Trading Platforms

Maunto offers two main platforms for trading to cater to traders of all levels, including beginners and professionals. Maunto offers services on:

WebTrader Platform

Maunto WebTrader allows traders to buy and sell various instruments regardless of their device software. Key features of this trading platform:

• Instant price alerts
• Various order type
• Real-time data streaming
• Over 160 CFDs

Mobile Trading App

Maunto Trading App is still under development. You can visit the application page on Firebase, experience trading with this app, and test its features to provide feedback to the developing team.

Maunto Broker Fees (Spreads and Commissions)

Maunto's pricing structure varies across account types:

• Classic/Silver Accounts: Spreads from 2.5 pips on major pairs
• Gold Account: Spreads from 1.8 pips
• Platinum Account: Spreads from 1.4 pips
• VIP Account: Spreads as low as 0.9 pips

Maunto has a transparent, commission-free trading structure. Other Maunto fees:

• No deposit fee
• 5% withdrawal fee for credit/debit cards/E-wallet withdrawals and $30 fee on wire transfers
• No inactivity fee

It's important to note that while Maunto offers competitive spreads, especially at higher account levels, they're not the lowest in the market. Traders should weigh these costs against the platform's other features and benefits.

What Deposit & Withdrawal Methods Are Available in Maunto?

Maunto provides several options for managing your funds to cater to clients with various preferences:

Deposit Methods

• Credit/Debit Cards
• Wire Transfer
• Alternative Payment Methods (APMs)

Withdrawal Methods

• Credit/Debit Cards (Minimum $10)
• Wire Transfer (Minimum $100)

Although Maunto deposit and withdrawal methods are limited compared to other brokers, they are sufficient for many traders. Here’s Key Points to remember about Maunto deposits and withdrawals:

• Minimum deposit: $250 (or equivalent)
• Withdrawal processing time: 8-10 business days
• Advanced security measures protect client information

Maunto's deposit and withdrawal system aims to balance convenience with security. However, the longer withdrawal processing times might be a drawback for some traders.

Copy Trading & Investment Options Offered on Maunto Broker

As of the latest information available, Maunto does not offer copy trading or social trading features. This absence might be a disadvantage for traders who prefer to follow or mimic the strategies of successful traders.

While Maunto focuses on providing a straightforward trading experience, those looking for copy trading functionality might need to explore other platforms like eToro, AvaTrade, or Pepperstone, which specialize in this area.

Maunto Broker Bonuses Overview

As of the latest information, Maunto does not offer any specific bonuses or promotions. This approach aligns with many regulated brokers who have moved away from offering trading bonuses due to regulatory constraints.

While the lack of promotions might seem like a drawback, it can also be seen as a positive. It allows traders to focus on the platform's core offerings and trading conditions without the distraction of temporary incentives.

Maunto Customer Support

Maunto broker provides customer support through multiple channels:

• Live Chat: Available on the website
• Email: support@maunto.com
• Phone: +44 203 150 2 347

Support hours are Monday to Friday, 12:00 to 21:00 GMT. Maunto's support structure aims to provide comprehensive assistance to traders. However, the limited hours of operation might be inconvenient for some, especially those trading outside of standard European business hours.

Maunto Broker Restricted Countries

Due to its regulatory status, Maunto broker doesn’t provide services to traders residing in the countries listed below:

• Japan
• USA
• Finland
• Portugal
• Spain
• Sweden
• North Korea
• Iran

Potential clients must confirm if Maunto’s services are legally accessible in their region. Each trader is responsible for ensuring they comply with local regulations.

Maunto User Reviews and Trust Scores

As a relatively new broker, Maunto has mixed reviews on the Trustpilot website:

• Total number of reviews: 178
• Score: 3.3
• Percentage of 5-star reviews: 44%

Traders must remember that these are the current scores and reviews of Maunto broker and can change in the future.

TF Expert Suggestion

As a Forex broker based in Saint Lucia, Maunto emerges as a promising option for beginner traders seeking a user-friendly platform with a decent range of assets. Its strengths lie in its intuitive interface, educational resources, and diverse instrument offerings.

However, more experienced traders might find the platform lacking in advanced features like copy trading, PAMM account, and limited regulatory oversight.

While Maunto shows potential, it's important for traders to weigh its offerings against their individual needs and risk tolerance. As with any financial decision, it’s important to carefully assess and research before committing to a trading platform.