MoonTrade

MoonTrade is a forex and cryptocurrency broker that was founded on 8 July 2022 and registered in the United Kingdom. Its official website is moontradepro.com, and its registered address is listed as 2-3 Union Street, Reading, Berkshire, RG1 1EUR, United Kingdom.

According to internal records, the broker presents itself as a provider of trading services in Forex and Cryptocurrencies, offering leverage up to 1:100 through a web trader platform. However, the official website appears to be non-functional, and there are reports suggesting the possible use of a suspicious clone FCA license, indicating potential misrepresentation.

MoonTrade holds no regulatory licences from any recognised financial authority. This absence of regulation means that traders are not afforded the protections typically associated with licensed brokers, such as negative balance protection, segregated client funds, or access to independent dispute resolution schemes.

For any trader considering MoonTrade, the lack of oversight is a significant concern. Regulated brokers are subject to strict compliance requirements that help safeguard client interests; without such oversight, the risk of misconduct or financial loss is notably elevated.

MoonTrade claims to offer trading via a proprietary web trader platform. Information about the specific features or functionality of this platform is limited, and the website’s non-functional state prevents independent verification of the trading environment.

The instruments advertised include Forex pairs and Cryptocurrencies. The scope of available instruments, trading conditions, and execution quality remain unclear, as the broker’s online presence appears to be inactive.

Details regarding account types, minimum deposit requirements, spreads, commissions, or other trading costs are not publicly available from reliable sources. Known facts indicate that leverage is offered up to 1:100, which is high and carries significant risk, especially for retail traders.

Without clear information on account tiers or fee structures, potential clients are unable to make informed comparisons with other brokers. The lack of transparency is a red flag in the context of choosing a trading partner.

The combination of no regulatory oversight, a non-functional website, and reports of a suspicious clone FCA licence places MoonTrade in a high-risk category. Traders should exercise extreme caution before considering any engagement with this entity.

FXCanary’s Scam Risk Score for MoonTrade is 46 out of 100, which is classified as ‘Guarded’. This score reflects the significant uncertainties surrounding the broker’s operations and the potential for fraudulent activity. In the absence of verifiable operational history or client feedback, the prudent course is to avoid providing personal or financial information to MoonTrade.