Moneta Markets Divorces Vantage Group and Acquires an ASIC License

Moneta Markets announced its departure from Vantage on Tuesday (previously VantageFX). Moneta obtained a group of investors to support its autonomous operations as a retail FX and contracts for differences (CFDs) broker.

In addition, the broker has regulatory approval from the Australian Securities & Investments Commission (ASIC) to offer services to Australian customers. On August 3, the Australia Financial Services (AFS) license was issued to locally incorporated Moneta Markets Pty Ltd.

Moneta holds regulatory clearance in South Africa and Saint Vincent & the Grenadines in addition to its Australian license.

Moneta, which debuted in the middle of 2020 under the Vantage Group umbrella, first operated as an offshore broker.

Since its inception, the goal has been to establish Moneta Markets as an independent brand, according to David Bily, the broker's founder and current chief executive officer.

"Initially, the technological and infrastructural support of the Vantage Group was crucial in helping us start, become a strong market competitor, and attain our independence. And it was crucial in attracting investors who wish to participate in Moneta's growth journey."

The official press announcement shared with Finance Magnates explained that Moneta's business has grown over the previous several years due to increased client acquisition, trading volume, and monthly deposits.

The brokerage provides services for trading forex and contracts for differences (CFDs) involving commodities, indices, equities, and ETFs. In addition, it is rapidly growing its instrument selection.

Moneta Markets is on course to become the world's premier retail FX and CFD broker, according to Bily, who noted that the company's product portfolio is expanding and that it is supported by an enthusiastic group of investors.