Moneta Markets, a retail FX and CFDs trading brand, recently separated from Vantage to operate independently. The broker even gained an ASIC license in the process to ramp up its services in Australia: it also holds regulatory licenses in South Africa and St. Vincent and the Grenadines.
With so much going on for Moneta Markets, Finance Magnates was grateful for the opportunity to sit down with David Bily, founder, and CEO of Moneta Markets, and exclusively discuss the broker’s strategies to operate as an independent entity.
“Since Moneta’s inception, the intention has always been to build to a point where we’re able to stand on our own two feet, so to speak, and fortunately for us, we were able to get to that point faster than anticipated,” said Bily, who worked at Vantage for 10 years and parted as the Chief Marketing Officer.
Moneta Markets was established in mid-2020 under the umbrella of the Vantage Group. It even used Vantage’s regulatory license from the Cayman Islands Monetary Authority to operate in the international markets.
While operating under a major brand like Vantage has advantages, going independent also has benefits. According to Bily, the day-to-day operations of the broker did not see any significant changes from the separation as the company follows “a leaner structure” and has “the advantage of being agile and able to shift or narrow our focus based on what the industry is telling.”
Essential Licenses
Also, the gain of an ASIC license is huge, especially at a time when the Aussie regulator is cautious about handing out approvals after the collapse of several brokers like ForexCT and USGFX.
“Acquiring licenses and authorizations of our own to operate in various jurisdictions has been a priority, although not without its challenges,” said Bily. “ASIC, FSCA, and SVGFSA are all important for us to solidify our position as a reliable and trusted broker in an industry that is not only crowded but also tends to arouse skepticism.”
“Our intention is to demonstrate and build on our reputation as a client-centric, transparent broker, and by separating from the Vantage group and acquiring licenses of our own help to reiterate this.”
He further revealed that Moneta is in the process of gaining additional regulatory licenses, but did not reveal the jurisdiction it is approaching. Of course, additional licenses will only help the broker enter new markets and expand its base.
However, the additional licenses also bring complexities.
“There are region-specific requirements from a product perspective, like leverage restrictions that need to be adhered to across various markets, so keeping up to speed with these requirements is crucial,” said Bily.
He also acknowledged the benefits of strengthening regulations. “While it does present its challenges across the industry in regions such as Australia and Europe, it ultimately provides clients with a safer trading environment,” he added.
Market and Competitions
Initially operated in the offshore markets, Vantage entered Australia with its latest ASIC license. It is also putting the broker in direct competition with Vantage, which is headquartered in Australia.
However, Moneta has taken a conscious decision not to go head-to-head with Vantage.
“Vantage has been a major player in Australia for over a decade and has really cornered the retail market, whereas for us it is exclusive to wholesale investors,” Bily added.
“Going head-to-head for retail with Vantage in Australia would be an uphill battle, so our resources are much better allocated to continuing to grow business internationally, with our current focus on further building our presence across the SEA and LATAM regions, where we are seeing significant growth.”
Strategies for Dominance
Since its launch, Moneta aggressively expanded its offerings. It offers trading services with forex and CFDs of commodities, indices, stocks, and a few other popular asset classes.
“Our strategy has always been to deliver more value to clients, whether through new products, reducing costs through spreads or commissions, or improving our tech infrastructure,” Bily added.
“As a relatively new broker, we find that we have the advantage of agility over our competitors. We run a lean business model, which enables us to move quicker than the larger, more established brokers, so we can cut through the red tape without getting bogged down by cumbersome bureaucratic procedures, and rapidly evolve based on client feedback, and the natural progression of the industry itself.”
Steps after App Store’s MetaTrader Removal
Moneta, like several other brokers, offers trading services on MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms developed by MetaQuotes Software. However, late last week, Apple dropped a bomb with the removal of two MetaTrader apps from its App Store, the only legitimate platform from where apps can be downloaded on iPhones and iPads.
This not only hit MetaQuotes but also alarmed brokers like Moneta Markets.
Bily added: “We are in the process of developing our own custom trading app for iOS and Android, which in light of the recent news to remove the MT4 and MT5 trading apps from the Apple App Store, will provide a great point of difference for us, as I imagine that many of our competitors will be hit quite hard by Apple’s decision. As soon as the news dropped, fast-tracking the development of our App project became our priority. Which again emphasizes the key advantage of running a lean business model.”
Moneta Markets, a retail FX and CFDs trading brand, recently separated from Vantage to operate independently. The broker even gained an ASIC license in the process to ramp up its services in Australia: it also holds regulatory licenses in South Africa and St. Vincent and the Grenadines.
With so much going on for Moneta Markets, Finance Magnates was grateful for the opportunity to sit down with David Bily, founder, and CEO of Moneta Markets, and exclusively discuss the broker’s strategies to operate as an independent entity.
“Since Moneta’s inception, the intention has always been to build to a point where we’re able to stand on our own two feet, so to speak, and fortunately for us, we were able to get to that point faster than anticipated,” said Bily, who worked at Vantage for 10 years and parted as the Chief Marketing Officer.
Moneta Markets was established in mid-2020 under the umbrella of the Vantage Group. It even used Vantage’s regulatory license from the Cayman Islands Monetary Authority to operate in the international markets.
While operating under a major brand like Vantage has advantages, going independent also has benefits. According to Bily, the day-to-day operations of the broker did not see any significant changes from the separation as the company follows “a leaner structure” and has “the advantage of being agile and able to shift or narrow our focus based on what the industry is telling.”
Essential Licenses
Also, the gain of an ASIC license is huge, especially at a time when the Aussie regulator is cautious about handing out approvals after the collapse of several brokers like ForexCT and USGFX.
“Acquiring licenses and authorizations of our own to operate in various jurisdictions has been a priority, although not without its challenges,” said Bily. “ASIC, FSCA, and SVGFSA are all important for us to solidify our position as a reliable and trusted broker in an industry that is not only crowded but also tends to arouse skepticism.”
“Our intention is to demonstrate and build on our reputation as a client-centric, transparent broker, and by separating from the Vantage group and acquiring licenses of our own help to reiterate this.”
He further revealed that Moneta is in the process of gaining additional regulatory licenses, but did not reveal the jurisdiction it is approaching. Of course, additional licenses will only help the broker enter new markets and expand its base.
However, the additional licenses also bring complexities.
“There are region-specific requirements from a product perspective, like leverage restrictions that need to be adhered to across various markets, so keeping up to speed with these requirements is crucial,” said Bily.
He also acknowledged the benefits of strengthening regulations. “While it does present its challenges across the industry in regions such as Australia and Europe, it ultimately provides clients with a safer trading environment,” he added.
Market and Competitions
Initially operated in the offshore markets, Vantage entered Australia with its latest ASIC license. It is also putting the broker in direct competition with Vantage, which is headquartered in Australia.
However, Moneta has taken a conscious decision not to go head-to-head with Vantage.
“Vantage has been a major player in Australia for over a decade and has really cornered the retail market, whereas for us it is exclusive to wholesale investors,” Bily added.
“Going head-to-head for retail with Vantage in Australia would be an uphill battle, so our resources are much better allocated to continuing to grow business internationally, with our current focus on further building our presence across the SEA and LATAM regions, where we are seeing significant growth.”
Strategies for Dominance
Since its launch, Moneta aggressively expanded its offerings. It offers trading services with forex and CFDs of commodities, indices, stocks, and a few other popular asset classes.
“Our strategy has always been to deliver more value to clients, whether through new products, reducing costs through spreads or commissions, or improving our tech infrastructure,” Bily added.
“As a relatively new broker, we find that we have the advantage of agility over our competitors. We run a lean business model, which enables us to move quicker than the larger, more established brokers, so we can cut through the red tape without getting bogged down by cumbersome bureaucratic procedures, and rapidly evolve based on client feedback, and the natural progression of the industry itself.”
Steps after App Store’s MetaTrader Removal
Moneta, like several other brokers, offers trading services on MetaTrader 4 and MetaTrader 5, two of the most popular trading platforms developed by MetaQuotes Software. However, late last week, Apple dropped a bomb with the removal of two MetaTrader apps from its App Store, the only legitimate platform from where apps can be downloaded on iPhones and iPads.
This not only hit MetaQuotes but also alarmed brokers like Moneta Markets.
Bily added: “We are in the process of developing our own custom trading app for iOS and Android, which in light of the recent news to remove the MT4 and MT5 trading apps from the Apple App Store, will provide a great point of difference for us, as I imagine that many of our competitors will be hit quite hard by Apple’s decision. As soon as the news dropped, fast-tracking the development of our App project became our priority. Which again emphasizes the key advantage of running a lean business model.”
- Bitcoin
- blockchain
- blockchain compliance
- blockchain conference
- coinbase
- coingenius
- Consensus
- crypto conference
- crypto mining
- cryptocurrency
- decentralized
- DeFi
- Digital Assets
- ethereum
- executives
- Finance Magnates
- Interviews
- machine learning
- non fungible token
- plato
- plato ai
- Plato Data Intelligence
- Platoblockchain
- PlatoData
- platogaming
- Polygon
- proof of stake
- W3
- zephyrnet
