An In-Depth Moonance Review 2022. Is Moonance.com Legit?

Pros and Cons of Moonance

Moonance in a Flash

Moonance is a forex and CFD broker founded in 2022. The broker's headquarters address is First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent, and the Grenadines. Trading services on the broker's website are available worldwide but U.S. citizens and traders from a few more countries are exempted.

When it comes to trading, Moonance.com uses the industry standard MT4 platform. The broker provides a web version of the MT4 and mobile applications for iOS and Android. Users get a virtual account with $10,000 to test the broker's platform and perfect their trading skills.

On the downside, Moonance does not provide information about its licensing body, making verifying its accuracy and validity difficult. This Moonance.com review will cover all the important details every trader needs to know about the broker.

Moonance Safety Review

Moonance claims to be fully verified but doesn't disclose the licensing body. The broker also doesn't mention the segregation of clients' and corporate funds. However, Moonance offers negative balance protection to ensure its clients never lose more than the amount they have in their trading accounts.

Risk disclaimer: CFDs trading puts your capital at risk and is therefore not suitable for everyone.

Moonance Fees

Moonance.com doesn't charge any deposit fees. However, withdrawals are subject to processing fees which vary depending on the payment method and amount withdrawn.

Besides the Moonance withdrawal fees, traders may also incur additional fees based on the financial provider (bank, credit card provider, etc.) transaction fee schedule.

The broker also charges account inactivity fees equivalent to 10% of the account balance. However, the minimum account inactivity fee charged is €25, and the maximum is € 49.90.

Moonance Spread Overview

The spread rates on Moonance depend on the account a trader holds. The table below represents the spread data provided on the broker's website.

While these rates are not the best in the industry, they are not far off from the industry standards.

Moonance Swap Rates

The broker makes no mention of the average swap rates throughout the website.

Moonance Deposits and Withdrawals

The processing time for deposits and withdrawals on Moonance is determined by the payment method used. International bank transfers take the longest and can take up to seven working days.

Deposit and Withdrawal Methods

Moonance accepts a variety of deposit and withdrawal methods, including:

• Credit/debit cards
• Bank wire transfers
• E-wallets
• Crypto transfers

Depending on the user's region, additional payment methods may be available. However, traders must withdraw through the same payment option used to deposit funds. Traders must also verify their accounts fully to withdraw funds from their Moonance accounts.

Minimum and Maximum Deposits and Withdrawals

Moonance requires an unspecified minimum withdrawal amount for bank wire withdrawals. All other payment methods do not have a minimum payout, but Moonance doesn't process withdrawals that are below 2EUR. 

For deposits, the minimum amount required is $250.

Moonance Tradable Markets and Products

Moonance.com provides its clients access to 250+ products across Stocks, currencies, metals, commodities, indices, and CFDs.

Moonance Trading Platforms and Tools

Trading at Moonance happens on the MT4 platform. The broker provides a Web Trader version and apps for both Android and iOS. Some of the meaningful features are social trading, charting tools, economic calendar, trading signals, and leverage of up to 1:500.

Moonance Account Types

Moonance offers three accounts whose main distinguishing features are the required minimum deposit, spreads, and commissions. Below is an overview of each Moonance.com account.

Classic Account

• Spreads from 1.5
• Zero commission
• 250+ tradable assets
• Minimum deposit $100

VIP Account

• Spreads from 1.1
• zero commission
• 250+ tradable assets
• Minimum deposit $3,000

Raw Account

• Spreads 0.0
• Commission $5
• 250+ tradable assets
• Minimum deposit $5,000

Moonance.com also provides a demo account with $10,000 virtual money. On the downside, the broker doesn't provide an Islamic account that accommodates members of the Muslim faith.

Moonance Account Registration

Follow these steps to open a Moonance.com account.

1. Click the 'Sign Up' button on the broker's website.
2. Fill in the required details.
3. Click the 'Continue' button

Moonance doesn't accept traders from the U.S. You must also be at least 18 years old to open a live trading account.

Moonance Customer Support

Moonance.com provides customer support mainly through email This email address is being protected from spambots. You need JavaScript enabled to view it.. The broker offers support from Monday to Friday: 00:00-24:00 (GMT+2/GMT+3). Registered customers can also contact the support team via the live chat feature.

Research Tools Offered by Moonance

Unfortunately, no free research tools and materials are available on Moonance.com. There are also no free educational materials available on the broker's website.

Moonance Review Final Thoughts

Moonance.com is a newly launched broker with its headquarters in Kingstown, St. Vincent and the Grenadines. The broker offers a good asset index and fair trading fees. However, the broker's registration and licensing information is unclear as no regulatory authority is highlighted.

Moonance FAQs

Does Moonance require account verification?

Yes. Moonance.com requires proof of identity and address documents within 30 days of account registration.

What is the Moonance Appropriateness Test?

Moonance.com requires its clients to complete an Appropriateness Test after signing up. The goal is to ensure the account holder understands the risks of derivative products trading and gauge the leveraged products best suited for the trader.

The broker also collects some information about the economic status of its clients to ensure the account funding patterns align with the client's financial situation.

Can I have more than one Moonance live trading account?

Yes, you can have a maximum of four live trading accounts on Moonance.com. This caters to clients who want to have the next-level account since the broker doesn't support account upgrades. To open additional accounts, you must have already signed up.

Does Moonance allow Corporate accounts?

Yes, Moonance accepts corporate clients. You should sign up using the normal registration process using your company name and provide the personal details of the main contact person. To finalize the process, email This email address is being protected from spambots. You need JavaScript enabled to view it. with the official company documentation, such as a Certificate of Incorporation.

Does Moonance accept U.S. clients?

Moonance.com doesn't accept US citizens.