Overview
Forex market trading offers a range of benefits for traders. One of the advantages of forex trading is its high liquidity, with trillions of dollars being traded daily. This liquidity allows for execution of trades and tighter spreads frequently, enabling traders to enter and exit positions with ease.
Additionally, the forex market operates 24 hours a day, five days a week, providing traders with several opportunities to participate in the market at their preferred time. The availability of leverage, allows traders to control larger positions with a smaller amount of capital, amplifying profits.
Furthermore, the forex market offers a diverse range of currency pairs, providing numerous trading opportunities.
So, now let’s dig out the ModMount Ltd on the basis of its trading pebbles.
What is ModMount Ltd?
ModMount is a company owned by ModMount Services Limited, located in Seychelles and registered with the local Financial Services Authority (FSA) with domain number SD119. However, it is important to highlight that regulatory institutions such as the FCA in the UK, ASIC in Australia, or CySEC in Cyprus are generally perceived as more trustworthy compared to offshore regulators like the FSA.
Registration number of ModMount is 8426105-1. ModMount doesn’t offer services to residents of certain jurisdictions such as the USA.
ModMount registered its domain in 2022, which is quite new to the trading market.
Is ModMount A Scam? Must-Read Before Trade
ModMount or modmountltd.com is operated by Modmount Services Limited, an investment firm based in Seychelles. The company is authorised and is under regulation of Financial Services Authority (FSA) of Seychelles. Operating within a regulated environment demonstrates their commitment to responsible practices and provides safeguards for investors, ensuring fair treatment.
One important aspect of client protection is the segregation of client funds. ModMount ensures that client funds are kept separate from the company’s own funds by placing them in segregated accounts. This segregation helps safeguard client funds in the event of any financial difficulties faced by the company.
By adhering to regulations and implementing measures to protect client funds, ModMount demonstrates their commitment to maintaining a secure and trustworthy trading environment.
ModMount Review: Pros And Cons
| PROS | CONS |
| Regulated by Financial Service Authority | No same day cashouts |
| Negative Balance Protection | Educational Materials are limited |
| Powerful User-Friendly Platform | |
| Maximum leverage 1:400 |
ModMount Review 2023: Deposit Methods & Minimum Requirements
ModMount provides various convenient deposit methods for their users. These include:
Wire Transfer: Traders can deposit funds directly into their account through wire transfer. This method involves transferring funds from one bank account to another.
Debit/Credit Cards: Accepts deposits made through debit and credit cards. Users can link their cards to their trading account and securely deposit funds.
APMs (Alternative Payment Methods): Broker also support alternative payment methods for deposits. These methods may include popular online payment services or e-wallets.
By offering multiple deposit options, ModMount aims to accommodate a wide range of preferences and facilitate convenient funding for their users.
How Can You Withdraw Funds?
ModMount has specific guidelines and fees for withdrawals. The minimum withdrawal amount for wire transfers is 100 EUR/USD, while for credit cards, it is 10 EUR/USD.
When it comes to fees, debit/credit card and e-wallet withdrawals are subject to a 3.5 percent fee. Wire transfers, on the other hand, incur a fee of 30 EUR/USD.
Additionally, ModMount charges a maintenance fee of 10 EUR/USD. Furthermore, accounts that remain dormant for up to two months will be subject to an 80 EUR/USD fee. For accounts dormant for up to six months, the fee increases to 120 EUR/USD. Beyond six months of inactivity, the fee rises to 200 EUR/USD.
What Can Be Traded On ModMount Ltd?
Indices
Indices provide a consolidated view of several stocks, allowing investors to track the collective performance of a particular sector, region, or market. They act as benchmarks to measure trends of specific investment areas.
- Access dozens of CFDs om global indices.
- 0% commission
- Up to 1:50 leverage for indices on CFDs
Forex
The volatility of the Forex market presents both challenges and opportunities for traders worldwide. The constant fluctuations in currency prices attract thousands of traders who seek to capitalise on these movements. By selecting the most effective strategies at the right moments, traders can identify and seize Forex opportunities in online trading.
- CFDs on 45+ FX pairs (Major, Minor, exotic)
- Real time market notifications and updates
- 0% commission
Crypto
ModMount offers the opportunity to trade crypto CFDs. While trading in CFDs, traders are not required to own the underlying asset. They have to speculate on the price fluctuations of the asset, allowing traders to potentially benefit from the market’s volatility.
- Most popular cryptos
- 24*7 customer service
- No commission or fees or tight spreads
- Real-time price quotes
Stocks
150+ stocks are offered by ModMount to trade on. Companies likeGoogle, Tesla often carry high liquidity and market interest due to their strong financial performance, innovative services, and influential positions within their sectors. Their stock prices are closely watched by traders and investors who seek opportunities to profit from their market movements.
- CFDs on 150+ most popular stocks
- No commissions
- Huge educational hub available for free
Commodities
The commodities market holds a rich history and plays a crucial role in the global economy. This market combines various raw materials and resources, and its value is subject to rapid fluctuations influenced by several factors.
- CFDs on 20+ most popular commodities
- No commissions
- Instant market notifications and price updates
Fees and Commissions
| Method | Applicable fees |
| Credit Card
Debit Card Prepaid Card E-wallets |
3.5% |
| Wire Transfer | 30 USD/EUR |
| Inactivity Period | Monthly Account Inactivity fees |
| 0 to 30 days | 0 |
| After 30 days | 100 USD |
| After 60 days | 250 USD |
| After 6 months | 500 USD |
ModMount Ltd Account Types?
Classic Account
This account offers access to over 350 CFDs on various assets, including stocks, indices, commodities, and cryptocurrencies, allowing for a diverse range of trading opportunities. With a maximum Forex leverage of up to 1:400, traders can amplify their positions and potentially maximise their trading potential. Dedicated multilingual support ensures that assistance is readily available in multiple languages, catering to the needs of traders worldwide. With an average execution speed of 0.08 seconds, efficient trade execution is a priority.
Silver Account
The Silver account on ModMount offers several advantageous features. Traders with a Silver account enjoy a swap discount, ensuring more favourable rollover rates.
The account also provides a 100% margin call level, allowing traders more flexibility in managing their positions.
The stop out level is set at 20%, providing a buffer for traders to manage their risk. The minimum volume per trade is set at 0.01, allowing for smaller position sizes, while the maximum volume per trade is capped at 50, ensuring controlled exposure.
Moreover, the Silver account allows trading on all available assets, providing traders with a wide range of options to diversify their portfolios.
Gold Account
The Gold account offered by ModMount presents a range of attractive features. Traders with a Gold account benefit from zero commission on deposits, allowing for more efficient funding of their trading activities.
With access to over 350 CFDs on various assets, including stocks, indices, commodities, and cryptocurrencies, traders have a diverse selection of trading opportunities at their disposal.
The Gold account also offers a maximum forex leverage of up to 1:400, enabling traders to magnify their trading positions. Dedicated multilingual support ensures that traders receive personalised assistance in their preferred language. With an average execution speed and flexible spreads of just 0.05 pips, traders can experience swift and precise trade execution, optimising their trading performance.
Platinum Account
Traders can enjoy the convenience of depositing funds without incurring any commission charges. With access to over 350 CFDs covering a wide range of assets, including stocks, indices, commodities, and cryptocurrencies, there are abundant trading opportunities to explore. The Max Forex leverage of up to 1:400 allows traders to potentially amplify their trading positions.
Additionally, dedicated multilingual support ensures that assistance is readily available to traders in their preferred language, providing a seamless trading experience. With an average execution speed of 0.08 seconds, trades can be executed promptly and efficiently.
| Account Types | Classic | Silver | Gold | Platinum |
| Leverage | 1:400 | 1:400 | 1:400 | 1:400 |
| Swap Discount | No | Available | Available | Available |
| Spreads | 2.5 | 2.5 | 1.8 | 0.9 |
ModMount Ltd: Account Opening Process
- Visit the website of MobMount Limited.
- Click on “Create Account”
- A form will appear with personal details to fill in.
- After filling the details, click to register.
- Submit to the questionnaire
- Document submission form to fill out.
- Deposit your amount.
Available Trading Platforms
MetaTrader 4
By leveraging the power of MT4, traders are equipped with an extensive selection of tools that enhance their market analysis capabilities. Within the MT4 platform, traders have access to a wide variety of technical indicators and charts, empowering them to conduct examinations of market trends and patterns.
Additionally, MT4 offers the flexibility to utilise custom indicators and expert advisors, allowing traders to personalise their trading strategies and automate specific trading tasks.
WebTrader
Web-based trading platforms are meticulously developed to prioritise user-friendliness and deliver a seamless trading experience. With a strong emphasis on ease of use, this platform is designed to cater to traders of all proficiency levels, ensuring accessibility and convenience for everyone. Whether you are new to trading or a seasoned professional, the user-friendly interface of the web-based platform enables effortless navigation and utilisation.
Educational And Research Resources
There are not enough educational and research resources on the website to learn from. A broker website should provide Chart Analysis, News on a day-to-day basis, video lectures, understanding of certain topics related to forex, trading e-books.
Thus, we would suggest traders to choose a broker that provides them with such information and research material, like, XPro Markets and Elland Road Capital, they both have extensive resources of education and research, making trade easier for both novice and experienced,alike.
Customer Support
- E-mail: [email protected]
- Live Chat
- +2484632002
Conclusion
When selecting a forex broker, ensuring legitimacy and trustworthiness should be of utmost importance. ModMount prioritises these factors, providing you with peace of mind regarding the safety of your investments. The company is not only authorised and regulated by the Financial Services Authority (FSA) of Seychelles, but it also implements stringent measures to combat money laundering. Furthermore, ModMount goes the extra mile to protect customer funds by segregating them into separate accounts, safeguarding them from potential financial risks.
With these security measures in place, you can confidently trade with ModMount, knowing that your investments are well-protected and in the hands of a reputable and trustworthy broker.
