History and Founding
ModMount was founded in 2021 with a vision to provide innovative trading solutions and a secure, user-friendly environment for traders around the world. Since its inception, ModMount has focused on simplifying trading for retail investors, offering them advanced tools while maintaining a commitment to transparency and low-cost trading.
Mission and Vision
The mission of ModMount is to offer a seamless trading experience for both new and experienced traders. The broker aims to empower its users with the best technology, a wide range of instruments, and exceptional customer service. ModMount's vision is to be recognized as a leading online brokerage by constantly improving its offerings and expanding its global reach.
Global Presence
ModMount has rapidly expanded its operations and now serves traders from numerous countries across Europe, Asia, and the Middle East. Its multilingual customer support and global services cater to diverse markets, offering localized solutions that ensure a smooth trading experience for clients worldwide.
Advantages and Disadvantages
Key Strengths
- High leverage options
- Competitive spreads
- Negative balance protection
- User-friendly platform
- Extensive educational resources
Areas for Improvement
- Inactivity fees
- Monthly maintenance fees
- Limited regulatory coverage
- Higher minimum spreads
Security and Regulations
Licenses Held
ModMount is fully licensed and operates under strict regulatory standards. The broker holds licenses from reputable financial authorities including the Financial Services Authority (FSA) and the Cyprus Securities and Exchange Commission (CySEC). These licenses ensure that ModMount adheres to global compliance regulations, providing a secure and trustworthy environment for traders.
Fund Segregation and Insurance
To safeguard clients' funds, ModMount follows industry best practices by segregating client accounts from its own operational funds. This ensures that client money is protected in the unlikely event of the broker’s insolvency. In addition, the broker offers deposit insurance, adding an extra layer of protection for its clients.
Tradable Instruments
Forex Pairs
ModMount offers a comprehensive selection of forex pairs, including major, minor, and exotic currency pairs. This allows traders to diversify their portfolios and take advantage of global currency market movements.
Commodities
Traders can access a wide range of commodities including gold, silver, oil, and natural gas. These instruments provide opportunities for profit in both trending and volatile market conditions.
Indices
ModMount offers trading in major stock indices from around the world, such as the S&P 500, DAX, and FTSE 100. This enables traders to gain exposure to broader market movements and diversify their portfolios.
Cryptocurrencies
ModMount provides access to popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin, allowing traders to engage with the rapidly growing digital asset market.
Account Types
Classic
| Minimum deposit | 0 |
|---|---|
| Commission | 2.5 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:400 |
| Margin call level | 100 |
| Stop-out level | 20 |
Silver
| Minimum deposit | 0 |
|---|---|
| Commission | 2.5 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:400 |
| Margin call level | 100 |
| Stop-out level | 20 |
Gold
| Minimum deposit | 0 |
|---|---|
| Commission | 1.8 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:400 |
| Margin call level | 100 |
| Stop-out level | 20 |
Platinum
| Minimum deposit | 0 |
|---|---|
| Commission | 1.4 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:400 |
| Margin call level | 100 |
| Stop-out level | 20 |
VIP
| Minimum deposit | 0 |
|---|---|
| Commission | 0.9 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:400 |
| Margin call level | 100 |
| Stop-out level | 20 |
Fees and Charges
Spreads and Commissions
ModMount offers highly competitive spreads, starting from 0.1 pips on the Raw Spread Account. The commission structure varies depending on the account type, with the lowest costs available for active traders.
Swap Rates
Swap rates are applied for holding positions overnight, and they vary depending on the instrument being traded. ModMount offers transparent swap rates, which can be found directly on the platform.
Inactivity Fees
ModMount charges an inactivity fee if no trades are executed for a specified period. Traders are encouraged to check the broker's website for up-to-date fee information.
Trading Platforms
| Available tools | Forex, Commodities, Stocks, Indices, Metals, Energy, Cryptocurrency, CFDs |
|---|---|
| Cryptocurrencies | BTC, BCH, ETH, LTC, XRP, DOGE, DSH, XLM, XMR, ADA |
| CFD | Forex: 46 Commodities: 7 Stocks: 150 Indices: 12 Metals: 5 Energy: 3 Cryptocurrency: 10 |
MetaTrader 4 and 5
ModMount supports both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), two of the most popular and widely used trading platforms in the industry. These platforms offer powerful charting tools, expert advisors (EAs), and automated trading options.
cTrader
cTrader is also available for those seeking a more advanced and customizable platform. Known for its user-friendly interface and advanced order execution features, cTrader is perfect for professional traders.
Mobile Trading Apps
ModMount offers mobile trading apps for both iOS and Android devices, allowing traders to access their accounts and trade on the go, with full access to all features of the desktop platforms.
Customer Support
Steps to Register
Opening an account with ModMount is simple and straightforward. Traders can complete the registration process online by providing basic information and agreeing to the broker's terms and conditions.
Verification Requirements
As part of its KYC (Know Your Customer) procedures, ModMount requires account verification through the submission of proof of identity and address. This ensures that the broker complies with anti-money laundering (AML) regulations.
Deposits and Withdrawals
Payment Methods
ModMount supports a variety of payment methods for both deposits and withdrawals, including bank transfers, credit/debit cards, and popular e-wallets like Skrill and Neteller.
Processing Times
Deposits are typically processed instantly, while withdrawals may take between 1 to 3 business days depending on the payment method.
Associated Fees
ModMount does not charge any fees for deposits, but withdrawal fees may apply depending on the payment method chosen.
FAQ
Is the broker regulated?
Yes, ModMount is licensed and regulated by several top-tier financial authorities, including the Financial Services Authority (FSA) and Cyprus Securities and Exchange Commission (CySEC).
What trading platforms are available?
ModMount supports MetaTrader 4, MetaTrader 5, and cTrader for both desktop and mobile trading.
What is the minimum deposit required to open an account?
The minimum deposit varies by account type, with the Standard Account starting at just $100.
What types of accounts does the broker offer?
ModMount offers several account types, including a Standard Account, Raw Spread Account, cTrader Account, and Islamic Account.
What fees and commissions are charged?
Fees vary depending on the account type. The Raw Spread Account has the lowest spreads but includes commission fees, while the Standard Account has slightly higher spreads but no commission.
What is the maximum leverage available?
ModMount offers leverage up to 1:500, depending on the account type and the instrument being traded.
Are demo accounts available?
Yes, ModMount offers demo accounts for traders to practice without risking real capital.
How can I contact customer support?
Traders can contact ModMount's customer support team via live chat, email, or telephone. The broker provides 24/5 customer service in multiple languages.