Moneta Markets’ David Bily on AISC License, Apple’s MetaTrader Removing

Moneta Markets Becomes an Independent Company
Recently, Moneta Markets, a platform for buying and selling retail FX and CFDs, broke away from Vantage to become an independent business. In addition to holding regulatory licences in South Africa and St. Vincent and the Grenadines, the dealer obtained an ASIC licence in order to expand its services in Australia. The founder and CEO of Moneta Markets, David Bily, graciously agreed to a conversation with Finance Magnates regarding the dealer’s tactics as a stand-alone business.

Bily, who spent ten years as Chief Marketing Officer at Vantage before departing, stated, “Since Moneta’s inception, the goal has always been to build to a point where we can stand on our own two feet, so to speak. Luckily for us, we were able to reach that point sooner than expected.”

In the middle of 2020, Moneta Markets was founded and is a part of the Vantage Group. To operate in international markets, it even made use of Vantage’s regulatory licence from the Cayman Islands Financial Authority. While there are benefits to working for a large company like Vantage, there are also benefits to becoming independent.

Bily states that the trader’s daily operations were largely unaffected by the split since it has “a leaner structure” and “the benefit of being agile and able to shift or narrow our focus based on what the industry is telling.” Obtaining the ASIC licence was also a significant step, particularly in light of the Australian regulator’s hesitancy to grant authorization in the wake of many traders’ collapses, including USGFX and ForexCT.

“Acquiring licences and authorizations of our own to operate in different jurisdictions has been a priority, though not without its challenges,” Bily stated. “ASIC, FSCA, and SVGFSA are all important for us to solidify our position as a reliable and trusted trader in an industry that is not only crowded but also tends to evoke scepticism.”

“Our aim is to demonstrate and build on our reputation as a client-centric, transparent trader, and by separating from the Vantage group and acquiring licences of our own help to reiterate this.”

Additionally, he said that Moneta is obtaining more regulatory licences, while the specific jurisdiction is still unknown. The trader will be able to grow its base and penetrate new markets with more licences. But there are complications associated with the extra licences as well. According to Bily, “There are region-specific requirements from a product perspective, such as leverage restrictions that have to be abided by across different markets, so keeping track of these requirements is important.” He understood the benefits of tightening rules.
Increasing the Offerings of Moneta Markets
He thinks the company will eventually benefit from tightening the regulations. Moneta Markets is seeking to enter the Southeast Asian and Latin American markets in an effort to strengthen its product offerings.
The company is creating specialised applications and taking advantage of the MetaTrader trading platforms in order to achieve this goal.