ModMount is a CFD broker regulated by the Financial Services Authority (FSA) in Seychelles and offers over 350 different CFDs to invest in. These products are from different global markets which allows investors to diversify their trading portfolios on a single trading site. Moreover, ModMount caters to a diverse set of traders by providing five different trading accounts for traders to choose from. On top of that, the trading platform is available in 12 different languages to cater to a global client base.
In this ModMount review, we are going to take an in-depth look at the services that this broker has to offer. We will specifically look at the instruments available to trade, the trading fees, the trading platform available, and its credibility, among other features. Let’s jump in.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Basic information from ModMount review
About the broker
| Web: | https://www.modmountltd.com/ 74-89% of retail investor accounts lose money when trading CFDs with this provider |
| License: | Financial Services Authority (FSA) Seychelles |
| Supported languages: | English, Arabic, Chinese Simplified, Chinese Traditional, French, German, Italian, Japanese, Malay, Portuguese, Spanish, Thai |
| Year of foundation: | 2019 |
| Holder: | MODMOUNT SERVICES LIMITED |
| Headquarters: | S41C, Espace Building., Ile Du Port ,Mahe, Seychelles |
| Methods of contacting customer support: | E-mail, phone, online chat |
| Contact: | support@modmountltd.com +2484632002 |
| Deposit methods: | Debit and Credit Cards, Bank transfer, Crypto, Gpay, ApplePay, EFT, PIX, WebPay, Gcash, PayMaya, Mobile Money, Sticpay and Jeton. |
| Withdrawal methods: | Credit Card, APMs, Bank transfer |
About trading with ModMount
| Minimum deposit: | 250 USD |
| Min. trade: | 0.01 |
Maximum leverage: The maximum available leverage can be limited by local financial regulators or by international regulations, in such case, the displayed maximum leverage may not match the leverage you can actually trade with. For instance, in the European Union, the financial regulator ESMA restricts the maximum available leverage to 1:30 when trading major currency pairs, 1:20 when trading minor pairs and commodities and 1:2 when trading cryptocurrencies. Similar restrictions apply in Australia and possibly in other jurisdictions. | 1:400 |
| Spreads: | Look at the spread table – spread on the currency pair EUR/USD is 2.5 pips * on a standard account type |
Underlying assets: Might be a CFD. | Forex (47), stocks (158), commodities (13), indexes (12), cryptocurrencies (10) |
| Base currencies: | EUR, USD, CHF |
| MetaTrader 4: |  |
| Other trading platforms: | WebTrader |
| Social trading: | |
ModMount Trading Platform
ModMount provides traders with a WebTrader trading platform that is available on all kinds of devices. As this is a web-based platform, there is no need to download anything. Traders can access their trading accounts from anywhere, anytime as long as their device is connected to the Internet. This platform is powerful and yet intuitive enough to allow traders of all levels to easily use it effectively. On top of that, this platform comes with a plethora of trading tools to assist traders in their activities.
For starters, this platform has customizable market alerts and access to real-time rate streaming. This ensures that traders stay up-to-date on any market developments. A set of indicators are also available to help traders in analyzing market trends. They also assist traders in identifying entry and exit points and managing risk effectively. With indicators such as moving averages and oscillators, ModMount provides tools for all kinds of traders to enhance their analytical capabilities.
On another note, ModMount also provides clients with drawing and charting tools. These facilitate in-depth charting and technical analysis. ModMount equips its platform with a variety of drawing tools allowing traders to mark price levels, trendlines, and support and resistance zones.
Finally, ModMount provides traders with one of the best technical analysis software in the business. Trading Central on ModMount provides traders with independent research and leading analysis data to support their investment strategies. This helps traders to discover hidden trading opportunities, learn to time their trades, get market insights, and manage risk.
Available assets on the ModMount Trading Platform
Traders are always on the lookout for brokers that offer various global market instruments on the same trading platform. With ModMount, traders get exactly that with over 350 different market instruments to invest in. Specifically, ModMount allows traders to invest in CFDs on:
- Forex – With ModMount, traders have access to 45+ different CFDs on currency pairs including minors, majors, and exotics.
- Commodities – ModMount also supplies its traders with over 20 different CFDs on commodities. These include CFDs on oil, corn, and a plethora of other commodities.
- Indices – Traders can also diversify their portfolios on 12+ different major indices including DOW 30, NASDAQ, and S&P 500.
- Stocks – On the ModMount trading site, traders have access to 60+ different stock CFDs on some of the most popular companies. These include companies like Apple, Microsoft, Alibaba, Chevron, and many more.
- Cryptocurrency Futures – The final class of assets that people can trade on ModMount is the cryptocurrency futures asset class. Here traders have access to 30+ different cryptocurrency futures on Bitcoin and other popular assets.
🆓 How to open a free demo account?
Opening a demo account with ModMount is very simple, just register on their website.
74-89% of retail investor accounts lose money when trading CFDs with this provider
ModMount Fees and Spreads
The spreads that traders pay on ModMount depend on the account a trader chooses to trade on. There is a total of five different accounts that traders can choose from. These include the Classic, the Silver, the Gold, the Platinum, and the VIP accounts. The minimum spreads that this broker offers on each of these accounts are astonishingly low and no commissions are required.
Another fee that applies when trading with ModMount is a swap fee applied to positions held overnight. This fee depends on the asset a trader holds overnight and the size of the position held. However, ModMount allows Muslim traders to access a swap-free account based on the Shariah law principles.
ModMount Customer Support and Education
Being able to contact a broker that a trader is investing with is paramount since they may have issues on their trading journey. Luckily, ModMount provides three different channels for traders to contact customer support. For starters, traders can contact the support team via the live chat option that is available to them 24/7.
If the live chat option does not the needs of traders, they not need to worry. They can contact the ModMount support team via its mobile number +2484632002. Additionally, they can email the team through the email support@modmountltd.com. Both the mobile and email options are available to traders Monday – Friday: 12:00 till 21:00 GMT. With these various channels, ModMount believes that it leaves no room for issues to hold traders back.
Moreover, ModMount provides its clients with a rich education section. This helps traders enhance their knowledge and skills in various areas. These resources cover topics from the basics all the way to trading strategies.
ModMount Credibility
Perhaps the most important thing to look at on a broker site is its regulations. Traders always want to know that they trading with a broker that has oversight from stringent organizations. Luckily, ModMount is a regulated broker that holds a license from the Financial Services Authority in Seychelles with license Number SD119.
Another key feature to look at when determining the credibility of a broker is the online customer reviews. Notably, ModMount has a stellar rating on Trustpilot sitting at 3.9 stars out of 5. Overall, it seems that most customers have a positive experience with this broker.
Closing Remarks
In conclusion, ModMount emerges as a comprehensive and credible CFD broker offering a diverse range of trading instruments. With over 350 CFDs, including Forex, commodities, indices, stocks, and cryptocurrency futures, traders can build diversified portfolios on a user-friendly WebTrader platform. The broker’s low spreads and multilingual customer support help to enhance the trading experience.
ModMount caters to various trader preferences with five different account types, each offering competitive spreads and no commissions. The availability of a swap-free account aligns with Shariah law principles, accommodating the needs of Muslim traders. Crucially, ModMount’s credibility is reinforced by its regulation by the FSA in Seychelles. Positive customer reviews on Trustpilot further affirm the broker’s reputation, with a stellar rating of 3.9 out of 5 stars.
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| Broker | English | Min. deposit | Spread EUR/USD* | Platforms | License | |
|---|---|---|---|---|---|---|
 |  | 100 USD | 1.0 pips Spread was taken 03.05.2024 at 11:12 from the web or trading platform of Etoro. | In-house built platform | FCAASICCySec | etoro.comreview EUR/USD*: 1.0 pips Spread was taken 03.05.2024 at 11:12 from the web or trading platform of Etoro. |
 | | 0 | 0.9 pips Spread was taken 03.05.2024 at 11:12 from the web or trading platform of XTB. | In-house built platform | FCA CySec | xtb.comreview EUR/USD*: 0.9 pips Spread was taken 03.05.2024 at 11:12 from the web or trading platform of XTB. |
 | | 100 USD | 0.8 pips Spread was taken 03.05.2024 at 11:12 from the web or trading platform of Plus500. | In-house built CFD platform | FCAASICCySec | plus500.comreview EUR/USD*: 0.8 pips Spread was taken 03.05.2024 at 11:12 from the web or trading platform of Plus500. |
* The spread is variable for most brokers and changes depending on market volatility.
Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.