Monecor

Monecor Limited is a brokerage firm registered in Germany, with its registered office at Schillerstr 15-17, 60313 Frankfurt/Main. The company was founded on 27 June 2022, making it a relatively new entrant in the online trading space. According to our records, Monecor operates as a broker offering a range of tradable instruments, including forex, stocks, indices, cryptocurrencies, and commodities.

Our records indicate that Monecor provides three account types: Fixed, Classic, and Raw. The minimum spread is stated to be from 0.1 pips. However, the official website (monecorlimited.com) is currently closed, which limits the availability of detailed public information about the broker's offerings and operations.

Monecor Limited holds three regulatory licences, according to our records. These are from the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CYSEC) in Cyprus, and the Cayman Islands Monetary Authority (CIMA) in the Cayman Islands. The FCA licence is for Market Making (MM), the CYSEC licence is for Forex Execution License (STP), and the CIMA licence is for Derivatives Trading License (EP).

It is important to note that the specific licence numbers are not published in our records, and the status of these licences is not specified. Traders should verify the current regulatory status directly with the relevant authorities, especially given the broker's limited public footprint.

Based on the information we have, Monecor offers trading in forex, stocks, indices, cryptocurrencies, and commodities. The broker provides three account types: Fixed, Classic, and Raw. These account types likely cater to different trading preferences and experience levels, with the Raw account potentially offering tighter spreads or commission-based pricing, though specific details are not available.

The minimum spread is reported to be from 0.1 pips, which is competitive if accurate. However, without an active website, we cannot confirm the exact specifications, leverage options, or trading platforms (such as MetaTrader 4 or 5) that may be offered.

Monecor Limited was founded on 27 June 2022, and its registered address is in Frankfurt, Germany. The company description notes that it is a broker, but also flags potential risks, including a suspicious clone status and unclear fee situation due to the closed official website. Our records show zero employees, which is unusual for a brokerage and may indicate a shell company or a very small operation.

We found no clone or impersonator sites associated with Monecor, but the lack of an operational website and social-media presence is a significant concern for transparency and customer support.

In FXCanary's assessment, Monecor Limited presents a guarded risk profile. The FXCanary Scam Risk Score is 40 out of 100, indicating a 'Guarded' level of risk. The primary risk flag is the absence of a verifiable website or social-media presence, which makes it difficult for potential clients to research the broker or access trading services.

Given the limited public information and the closed website, traders should exercise caution. The regulatory licences on file are positive, but the lack of operational transparency and the absence of independent reviews or user feedback mean that the broker's actual conduct cannot be verified. We recommend thorough due diligence before considering any engagement with Monecor.