Editor’s Verdict
ModMount presents its user-friendly, web-based trading platform, which includes Trading Central services and one-click trading. Traders get a maximum leverage of 1:400 with negative balance protection, and the asset selection covers six sectors and 350+ CFDs. I reviewed this broker to evaluate the competitiveness of its trading environment. Should you trade at ModMount?
Overview
ModMount offers a user-friendly trading platform with Trading Central services.
ModMount Five Core Takeaways:
- Embedded Trading Central services in a user-friendly trading platform.
- One-click trading
- Balanced asset selection, including cryptocurrencies and metals.
- Multilingual customer support
- Manual-only trading
Headquarters | Seychelles |
|---|---|
Regulators | FSA |
Tier 1 Regulator(s)? | |
Owned by Public Company? | |
Year Established | 2022 |
Execution Type(s) | Market Maker |
Minimum Deposit | $250 |
Negative Balance Protection | |
Trading Platform(s) | Proprietary platform |
Average Trading Cost EUR/USD | 4.1 pips ($41.00) |
Average Trading Cost GBP/USD | 4.7 pips ($47.00) |
Average Trading Cost WTI Crude Oil | $0.17 |
Average Trading Cost Gold | $0.27 |
Average Trading Cost Bitcoin | $393.50 |
Retail Loss Rate | Undisclosed |
Minimum Standard Spreads | 4.0 pips |
Minimum Commission for Forex | Commission-free |
Funding Methods | 6 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
ModMount Regulation & Security
Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. ModMount has one regulated subsidiary.
Country of the Regulator | Seychelles |
|---|---|
Name of the Regulator | FSA |
Regulatory License Number | SD119 |
Regulatory Tier | 4 |
Is ModMount Legit and Safe?
I found no verifiable misconduct or malpractice by ModMount. I recommend ModMount as it is FSA-regulated.
ModMount regulation and security components:
- Founded in 2022
- Regulated by the Financial Services Authority in Seychelles
- Segregated client deposits from corporate funds
- Negative balance protection
What would I like ModMount to add?
ModMount should consider a Hong Kong-based Financial Commission membership to offer an investor protection fund and audited financial statements. A third-party insurance package could enhance trust in ModMount.
Fees
I rank trading costs among the most defining aspects when evaluating a broker, as they directly impact profitability. ModMount maintains a commission-free pricing environment, but traders should consider all trading and non-trading fees.
The trading platform quoted the EUR/USD with a minimum spread of 4.0 pips or $40.00 per 1.0 standard round lot, as I reviewed ModMount. It was the lowest-priced currency pair, with average costs slightly higher.
ModMount non-trading fees are:
- A $100 monthly inactivity fee after 30 days of dormancy
- A $250 monthly inactivity fee after 60 days of dormancy
- A $500 monthly inactivity fee after 180 days of dormancy
- A $10 monthly maintenance fee applicable to all accounts irrelevant to the account activity
- A $30 bank wire withdrawal fee
Third-party processing costs and currency conversion fees may apply. ModMount notes lower spreads for higher account tiers with spread discounts, but I could not find details on how to obtain them.
The minimum trading costs for the EUR/USD at ModMount are:
Minimum Spread | Commission per Round Lot | Cost per 1.0 Standard Lot |
|---|---|---|
2.5 pips | $0.00 | $25.00 |
Here is a snapshot of ModMount trading fees:
Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights in the commission-free ModMount Classic account.
Taking a 1.0 standard lot buy/sell position in the EUR/USD, at the average spread and holding it for one night in the ModMount Classic account will cost the following:
Average Spread | Commission per Round Lot | Swap Long | Swap Short | Total Trading Costs |
|---|---|---|---|---|
4.0 pips | $0.00 | -$47.28 | X | -$86.28 |
4.0 pips | $0.00 | X | -$45.70 | -$85.70 |
Taking a 1.0 standard lot buy/sell position in the EUR/USD, at the average spread and holding it for seven nights in the ModMount Classic account will cost the following:
Average Spread | Commission per Round Lot | Swap Long | Swap Short | Total Trading Costs |
|---|---|---|---|---|
4.0 pips | $0.00 | -$330.96 | X | -$355.96 |
4.0 pips | $0.00 | X | -$319.90 | -$344.90 |
Average Trading Cost EUR/USD | 4.1 pips ($41.00) |
|---|---|
Average Trading Cost GBP/USD | 4.7 pips ($47.00) |
Average Trading Cost WTI Crude Oil | $0.17 |
Average Trading Cost Gold | $0.27 |
Average Trading Cost Bitcoin | $393.50 |
Minimum Standard Spreads | 4.0 pips |
Minimum Commission for Forex | Commission-free |
Deposit Fee | |
Withdrawal Fee | |
Inactivity Fee | true |
ModMount Trading Hours
Asset Class | From | To |
|---|---|---|
Currency Pairs | Sunday 22:05 | Friday 21:50 |
Cryptocurrencies | Sunday 22:05 | Friday 21:50 |
Commodities | Sunday 23:05 | Friday 22:00 |
Crude Oil | Sunday 23:05 | Friday 22:00 |
Metals | Sunday 23:05 | Friday 22:00 |
Stocks | Monday 01:05 | Friday 21:00 |
Futures | Monday 23:05 | Friday 21:50 |
Range of Assets
ModMount offers a balanced asset selection, where its choice of equity CFDs stands out. The trading platform lists select blue chips from Taiwan, Japan, Turkey, Malaysia, India, Brazil, Mexico, Colombia, and the UAE. US-listed companies comprise the bulk of equity CFDs, followed by EU companies, but I am missing ETFs.
ModMount covers the following sectors:
- Forex
- Cryptocurrencies
- Commodities
- Equities
- Indices
- Metals
While the choice of currency pairs is sub-standard, I like that ModMount includes some exotic pairings.
ModMount Leverage
Maximum Retail Leverage | 1:400 |
|---|---|
Maximum Pro Leverage | 1:400 |
What should traders know about ModMount leverage?
- Maximum retail Forex leverage is 1:400.
- Commodity, index, and metals max out at 1:200.
- Equity traders get 1:5.
- Cryptocurrency leverage is 1:5.
- Negative balance protection exists, ensuring traders cannot lose more than their deposit.
- Traders must always use appropriate risk management with leveraged trading to avoid magnified trading losses.
Currency Pairs | |
|---|---|
Cryptocurrencies | |
Commodities | |
Crude Oil | |
Gold | |
Metals | |
Stocks | |
Stocks (non-CFDs) | |
Bonds | |
ETFs | |
Options | |
Futures | |
Synthetics |
Account Types
ModMount offers five account types with identical trading conditions, except for lower minimum spreads. The minimum deposit requirement is $250.
Swap discounts exist on all account types except for Classic, and all account types incur a monthly maintenance fee of $10, irrelevant to trading activity. A swap-free Islamic account is not available.
The minimum trade volume is 0.01, with a maximum of 50.00 on every account type. Traders receive an automatic margin call at 100% of equity with a stop-out at 20%.
ModMount Demo Account
What stands out about the ModMount demo account?
- ModMount offers a $100,000 demo account balance.
- The trading platform allows traders to switch easily between demo and live trading.
Trading Platforms
Traders get a proprietary trading platform as a desktop client, web-based alternative, and mobile app. It includes Trading Central services, a user-friendly interface, 20+ analytical tools, an economic calendar, multi-chart functionality, and one-click trading. It is available in English, French, German, Italian, Japanese, Portuguese, Spanish, and Arabic.
As an active trader, I miss MT4 and its algorithmic trading functionality, as the ModMount trading platform only supports manual trading.
Overview of Trading Platforms
MT4 | |
|---|---|
MT5 | |
MT4/MT5 Add-Ons | |
cTrader | |
Proprietary Platform | |
Automated Trading | |
Social/Copy Trading | |
DOM? | |
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
One-Click Trading | |
OCO Orders | |
Interest on Margin |
Unique Features
The choice of blue-chip equity CFDs from emerging markets is the unique feature at ModMount that stands out.
Research & Education
ModMount offers research via Trading Central, the most competitive feature of the ModMount trading environment. Traders can access it from the “Education” tab of the trading platform.
Customer Support
Traders can reach ModMount customer support from Monday 12:00 to Friday 21:00. Contact methods are e-mail, phone, and live chat. I recommend traders browse the FAQ section before contacting customer support.
Customer Support Methods |  |
|---|---|
Support Hours | Monday 12:00 to Friday 21:00 |
Website Languages |        |
Bonuses and Promotions
ModMount neither offers bonuses nor promotions.
Opening an Account
Traders must provide their name, e-mail address, phone number, and desired password to open a ModMount via the online account application. Clicking “Create an Account” completes the registration.
What should traders know about the ModMount account opening process?
- ModMount complies with global AML/KYC requirements.
- Account verification is mandatory.
- Uploading a copy of a government-issued ID and one proof of residency document satisfied verification for most traders.
- ModMount may ask for additional information on a case-by-case basis.
- Traders must verify their payment method.
- ModMount collects personal data, including tax ID numbers, trading experience, income, and planned deposit size.
Minimum Deposit
The ModMount minimum deposit is $250.
Payment Methods
ModMount accepts bank wires, credit/debit cards, MiFinity, Google Pay, Apple Pay, and many other local payment methods based on your country.
Withdrawal options |     |
|---|---|
Deposit options | |
Accepted Countries
ModMount accepts clients resident within many countries, but its website lists the US, Canada, Australia, Iran, North Korea, Myanmar, Israel, and “certain EU member states” as ineligible countries. ModMount also adds it may decline registration from jurisdictions like FATF high-risk or sanctioned countries.
Deposits and Withdrawals
The secure ModMount back office handles financial transactions for verified clients.
What are the key takeaways from the deposit and withdrawal process at ModMount?
- ModMount does not levy internal deposit fees.
- The minimum deposit is $250 or a currency equivalent.
- Deposit currencies are the USD, EUR, and JPY.
- An internal bank wire fee of $30 exists.
- The minimum withdrawal amount is $10 for credit/debit cards and bank wires.
- E-wallet withdrawals have no minimum withdrawal amount as long as they cover processing fees.
- Traders may face third-party payment processing charges.
- Potential currency conversion fees apply.
- The ModMount withdrawal process takes between eight and ten business days.
- The name on the payment processor and ModMount trading account must match in compliance with AML regulations.
- Payment processor availability depends on the geographic location of traders.
Is ModMount a good broker?
I like the trading environment at ModMount for day traders using manual strategies focused on liquid assets with a preference for blue chip equities. The user-friendly trading platform includes Trading Central services. ModMount accepts cryptocurrency deposits, and the minimum deposit requirement is $250 or a currency equivalent. It is higher than at many brokers but within a reasonable, affordable range.
FAQs
Does ModMount offer cryptocurrency trading?
Yes, ModMount offers cryptocurrency CFD trading.
What is the minimum deposit at ModMount?
The ModMount minimum deposit is $250.
Should you trust ModMount?
ModMount has been operational for over 1 year and is regulated in the Seychelles.
Is ModMount a legit CFD broker?
Yes, ModMount is a legit broker with an FSA license in Seychelles.