Money Mall
Pros and Cons
Pros
- Regulated by BAPPEBTI in Indonesia
- Trading platform: MetaTrader 4
- Leverage up to 1:400 for Diamond accounts
- Operating since 2003 with a solid track record
- Diverse account types: Gold, Platinum, and Diamond
Cons
- Not regulated by major authorities such as FCA or ASIC
- Limited trading instruments available
- Lack of advanced trading platform options
- High spreads on currency pairs
- Inadequate educational resources for traders
Basic Information
User Reviews
Money Mall Overview
Founded in 2003, Money Mall, officially known as PT Gatra Mega Berjangka, is a regulated forex broker based in Surabaya, Indonesia. It operates under the oversight of the Indonesian Commodity Futures Trading Regulatory Agency (BAPPEBTI), holding the license number 271/BAPPEBTI/SI/X/2003. This regulatory status ensures that Money Mall adheres to stringent financial standards and offers a level of security and trust for its clients in the forex trading market.
Money Mall specializes in trading a range of financial instruments, primarily focusing on forex and commodities. The broker provides access to the widely used MetaTrader 4 platform, which offers robust charting tools, advanced trading functionalities, and mobile trading options for on-the-go access. With competitive features such as low spreads and various account types, including Gold and Platinum accounts, Money Mall aims to cater to traders of all levels. Customer support is available 24/5 through multiple channels, ensuring prompt assistance for trading inquiries and account management. Overall, Money Mall distinguishes itself with its commitment to transparency, market insights, and tailored trading solutions for its clients.
Is Money Mall Safe? Regulation Analysis
Regulatory Information
| Regulatory Authority | Country/Region | Fund Protection Measures |
|---|---|---|
| BAPPEBTI | Indonesia | Segregated Funds, Investor Compensation Scheme |
Is Money Mall Regulated and How Are Client Funds Protected?
Money Mall, operated by PT Gatra Mega Berjangka, is a regulated broker under the supervision of BAPPEBTI, Indonesia’s Commodity Futures Trading Regulatory Agency. This regulatory oversight means that Money Mall adheres to specific operational standards and compliance measures designed to protect investors. Client funds are safeguarded through segregation, ensuring that they are kept separate from the company’s operational funds. Additionally, the broker may offer an investor compensation scheme, which provides an extra layer of protection in case of insolvency. Overall, the broker’s regulatory status reinforces its legitimacy and commitment to maintaining a safe trading environment for its clients.
Trading Products and Services
What trading instruments does Money Mall offer?
| Asset Category | Available Products | Total Count (if available) |
|---|---|---|
| Forex | EUR/USD, GBP/JPY, AUD/NZD, Major & Minor Pairs | Many |
| Commodities | Gold, Silver, Crude Oil, Natural Gas | Many |
| Indices | S&P 500, NASDAQ, FTSE 100, DAX | Many |
| Stocks | US (e.g. Apple, Tesla), UK (e.g. BP, Vodafone) | Many |
| Cryptocurrencies | BTC, ETH, XRP, LTC | Many |
Money Mall offers a diverse range of trading instruments, making it suitable for various trader types, from beginners to professionals. With a focus on Forex, commodities, indices, stocks, and cryptocurrencies, users can explore multiple financial products that align with their trading strategies. This variety not only enhances user experience but also allows traders to build diversified portfolios and adapt their approaches based on market conditions. The extensive selection of asset categories supports flexible trading strategies, catering to both short-term and long-term investment goals, ensuring that all traders can find the right tools to meet their financial objectives.
Account Types and Trading Conditions
What Account Types and Fees Does Money Mall Offer?
| Account Type | Target User Group | Essential Characteristics | Applicability Notes |
|---|---|---|---|
| Gold Account | Beginner to Intermediate Traders | Low minimum deposit, moderate leverage | Requires a minimum deposit of $500 |
| Platinum Account | Intermediate Traders | Lower spreads, higher leverage options | Requires a minimum deposit of $500 |
| Diamond Account | Experienced Traders | High leverage, premium trading conditions | Requires a minimum deposit of $2500 |
| Demo Account | New Traders | Practice trading without real funds | Availability may vary |
Account Opening Process
Opening an account with Money Mall involves several straightforward steps. Initially, you will need to select the type of account that aligns with your trading needs. Following this, you will complete an application form, providing personal information such as your name, address, and contact details. Verification of your identity is a crucial step, which requires submitting documents like a government-issued ID and proof of address. After your account is approved, you will need to fund it, keeping in mind the minimum deposit requirement. Once funded, you can begin trading. Additionally, it is worth noting that you have the flexibility to upgrade to a professional account later if your trading needs change.
Trading Fees
| Product | Spread (pips) | Commission | Notes |
|---|---|---|---|
| Forex (EUR/USD) | 0.8 | $0 (ECN: $3.5/lot) | Tight spreads for major pairs |
| Forex (GBP/USD) | 1.0 | $0 (ECN: $3.5/lot) | Competitive rates for major currencies |
| CFDs (Gold) | 35 | $5 per lot | High spread due to market conditions |
| CFDs (Oil) | 20 | $1 per lot | Moderate spreads |
| Cryptos (BTC/USD) | 1.0% | 0.1% | Variable depending on volatility |
Other Fees
In addition to trading fees, Money Mall may impose various other charges. These can include deposit and withdrawal fees, which vary by method. An inactivity fee may also apply if your account remains dormant for an extended period. Platform usage fees may be relevant if you utilize certain premium features. Overnight interest, known as swap rates, could be applicable depending on the positions you hold overnight. Lastly, currency conversion fees may occur when trading in different currencies.
Trading Platforms and Apps
What Trading Platforms and Apps Does Money Mall Offer for Traders?
| Platform | Device Support | Key Features | Additional Services |
|---|---|---|---|
| MetaTrader 4 (MT4) | Windows, macOS, iOS, Android | 2FA, Symbol lookup, Multiple order types, Price alerts, Technical indicators | Demo accounts, VPS services |
| Web Version | Any device with a web browser | Encryption, One-click trading, Market search, Push notifications | API interface |
| Mobile App | iOS, Android | Biometric login, Price alerts, Charting tools | Demo accounts |
Money Mall provides a diverse range of trading platforms to meet the needs of various traders. The MetaTrader 4 (MT4) platform is ideal for those seeking advanced tools and features, suitable for both beginners and experienced traders. The web version allows for flexible trading across devices, while the mobile app ensures that traders can manage their accounts and execute trades on the go. All platforms prioritize secure login methods and provide real-time alerts to keep traders informed.
Additionally, Money Mall supports mobile trading with a focus on user-friendly interfaces and efficient search capabilities. With features like fast order execution and access to demo accounts, traders can refine their strategies before committing real capital. Overall, the combination of robust security measures and comprehensive trading tools makes Money Mall a viable option for investors seeking to engage in the forex market.
Deposit and Withdrawal
Deposit and Withdrawal Options
| Payment Method | Processing Time | Fees | Limits | Base Currency Options |
|---|---|---|---|---|
| SEPA Transfer | 1–3 business days | No platform fee | Min 100, Max 50k/day | EUR |
| GrabPay | Instant | 1% fee | Min 20, Max 10k/day | SGD, MYR |
| SPEI | Same day | No fees | Min 500, Max 30k/day | MXN |
| Alipay | Instant | 1.5% charge | Min 50, Max 15k/day | CNY |
| Bank Wire | 3–5 business days | $10 for international | Min 100, Max 25k/day | USD |
Minimum Deposit
Money Mall requires a minimum deposit of $50 for standard accounts. This amount may vary based on the selected payment method, with options like GrabPay allowing deposits as low as $20. For premium accounts, the minimum deposit is set at $500.
How to Withdraw
To withdraw funds from your Money Mall account, follow these steps:
- Log in to your Money Mall account.
- Navigate to the ‘Withdrawal’ section under your account dashboard.
- Select your preferred withdrawal method from the available options.
- Enter the amount you wish to withdraw, ensuring it meets the limits set.
- Confirm your withdrawal request and check for a confirmation email.
- Wait for the processing time specified for your selected payment method.
Customer Support
Money Mall Customer Support Overview
Support Channels
Money Mall provides a variety of support channels to assist customers effectively. You can reach out to their support team via:
- Email: Customers can contact support through info@moneymall.ind.in or md.moneymall@gmail.com for inquiries.
- Live Chat: Available on the Money Mall website for real-time assistance.
- Telephone: Customers can call +919810222939 or +919717773117 for immediate support.
- Social Media: Engage with Money Mall on their social media platforms for updates and assistance.
Service Availability
Money Mall’s customer support is available Monday to Saturday from 10 AM to 7 PM. They offer support in multiple languages, ensuring that customers from different backgrounds can receive help comfortably.
Additional Resources
In addition to direct support, Money Mall offers various educational resources to enhance the trading experience, including:
- Video tutorials for using their trading platform.
- Webinars covering market trends and trading strategies.
- Market analysis reports to help customers make informed decisions.
- Trading signals for improved trading outcomes.
Overall, Money Mall is committed to providing top-notch customer service and support to ensure a smooth trading experience.
Frequently Asked Questions
Money Mall adheres to applicable financial regulations and strives to maintain compliance with industry standards. However, clients should be aware that the broker has faced scrutiny regarding its regulatory oversight, which may impact investor protection. We recommend clients conduct thorough research and consider regulatory status before engaging with the platform.
Money Mall offers access to various trading platforms and a range of financial services. However, specific details regarding trading spreads, leverage, and minimum deposit requirements may vary. Clients are encouraged to review the terms associated with their chosen account type and consult customer support for any clarifications.
Money Mall implements standard security measures to protect client data and funds, including encryption and secure payment methods. Nevertheless, reports of withdrawal issues have raised concerns among users, so it is important for clients to stay informed about the risks and take steps to safeguard their investments.
Many users have reported a user-friendly interface and ease of navigation on the Money Mall platform. However, experiences may vary, with some clients expressing dissatisfaction due to withdrawal difficulties and customer service challenges. Prospective clients should weigh these factors when considering their trading options.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.