Forex and CFD broker Moneta Markets has revealed plans to hive off its retail business three years after having launched under the Vantage Group of brands.
The move comes as Moneta has secured backing from a clutch of new investors, as well as new licenses and approvals to expand reach and operate as its own entity. In addition to its current regulatory authorisations in South Africa and St. Vincent and the Grenadines, the broker has secured a new license from the Australian Securities & Investments Commission (ASIC).
The Aussie entity operates under the brand name Moneta Markets Pty Ltd, but it is not authorised to issue financial products and can only give general advice to both wholesale and retail clients.
Moneta Markets was launched in mid-2020 as the latest subsidiary of the Vantage International Group LTD brand. Despite the fact that Moneta, which was founded by Vantage’s long-serving exec David Bily, was still in its infancy, it drew big interest thanks to its parent company’s credentials.
The company says its business continues to be quite robust as it offers 1000+ instruments while market uncertainty remains high and volatility is likely to remain elevated.
David Bily, Founder and CEO of Moneta Markets, comments: “Since its inception, the intention has always been to build Moneta Markets into a brand that can operate on its own. The technological and infrastructural support of the Vantage Group, in the beginning, was vital in helping us launch and become a serious market contender, as well as in achieving our independence. And, it was instrumental in enabling Moneta to attract investors who want to be involved in our growth journey. Now, with our ever-increasing range of products, our continuous effort to improve our offering, and an enthusiastic group of investors supporting us, we are on track to build Moneta Markets into a position where it can become the preferred retail FX and CFD broker of choice around the world.”
Earlier last year, ‘Vantage FX’ has become ‘Vantage’ to reflect the culmination of its extensive business transformation. The rebranding showed that the Australia-headquartered company has evolved into an all-encompassing, global financial services provider.
At the time, Vantage said the new corporate name better encompass what it does, as it broadens its reach beyond retail FX trading to become a multi-asset provider. The brokerage firm currently offers CFDs on Forex, Indices, Shares, Commodities, and Cryptocurrencies.
Vantage also cited the reason for the amendment as an attempt to further accelerate business development in new financial fields to serve clients with a global presence.
Established in 2009, Vantage is a multi-regulated broker that has regulatory licenses from ASIC (Australia), FCA (UK), and CIMA (Cayman Islands). The company claims an average trading volume of $200 billion that exchange hands on its platform each month.
