About MOONANCE
Company Overview
Moonance is an online trading broker established on 31 January 2023 and registered in Saint Vincent and the Grenadines. The company operates under the legal entity Moonance LLC, with its registered address at First Floor, First St Vincent Bank Ltd Building, James Street, Kingstown. It presents itself as a modern broker offering forex and CFD trading to retail clients worldwide.
Despite its recent launch, the broker claims to have attracted over 100,000 traders and offers a range of trading instruments, including forex, indices, metals, commodities, and shares (excluding stocks). The broker's website is available in multiple languages, including English, Portuguese, and Italian, indicating a target audience across various regions.
Regulation and Licensing
Moonance is not regulated by any major financial authority such as the FCA, CySEC, or ASIC. The broker claims to be authorized and regulated by MISA (license T2022122), but MISA is not a recognized regulatory body in international finance. The lack of oversight from a reputable regulator is a significant risk factor for traders.
Saint Vincent and the Grenadines is a jurisdiction known for minimal regulatory requirements for forex brokers. Many brokers incorporated there operate without meaningful supervision. Traders should be aware that in the event of a dispute, there is no recourse to a financial ombudsman or compensation scheme.
Account Types and Trading Conditions
Moonance offers three account tiers: Classic, VIP, and Elite. The Classic account requires a minimum deposit of $250 and offers leverage up to 1:200. The VIP account requires $10,000 and provides leverage up to 1:400. The Elite account is for high-volume traders with a $50,000 minimum deposit and leverage up to 1:500.
Each account type likely features different spreads and additional services, though specific details on spreads and commissions are not clearly stated on the website. The high leverage available on the Elite account carries substantial risk, especially for inexperienced traders.
Trading Platforms and Instruments
The broker does not explicitly name the trading platform it uses, but its website refers to a 'dashboard' for trading and account management. It is unclear whether MetaTrader 4/5 or a proprietary platform is provided. The broker advertises over 230 tradeable instruments, covering forex pairs, indices, commodities, and metals.
Moonance also offers trading signals and educational content, which are accessible through the client dashboard. The broker promotes $0 deposit fees and 24/7 customer support, although the quality and responsiveness of support have not been independently verified.
Unique Features and Risks
One notable feature is the broker's announced rebranding to Bullwaves. According to a notice on its website, Moonance is migrating to a new technology provider and will operate under the Bullwaves brand. Clients will need to access a new dashboard at bullwaves.global. This transition may cause disruption and raises questions about continuity.
Traders should exercise caution due to the lack of regulation and the recent rebranding. The broker's elevated scam risk score (52/100) from FXCanary reflects these concerns. It is advisable to thoroughly research and consider safer alternatives before depositing funds.
Overview compiled by FXCanary from regulatory records and public data. full MOONANCE review