Score
United Kingdom
|
5-10 years
| https://www.moneycorp.com/en-gb/
Website
Rating Index
Influence
A
Influence index NO.1
Spain 5.57
LicensesLicensed Entity：TTT Moneycorp Limited
License No. 308919
United Kingdom
bancomoneycorp.com.br moneycorp.com
VIP is not activated.
General Information & Regulation
Moneycorp (TTT MoneyCorp Limited) is an international company, established in 1962, which provides personal and corporate customers with different payment needs, including commercial payment solutions, foreign personal payments (e.g., for property purchases), airport travel money (exchange offices), and large amounts of foreign currency bills. Moneycorp is headquartered in London, UK, with operations in Europe, North and South America, Australia, Asia, and the Middle East. Moneycorp holds a payment license from the UK Financial Conduct Authority (license number 308919) but is suspected of operating beyond its limits.
International Payments
With Moneycorp, it is possible to send money overseas in over 120 different currencies to 190 countries/territories. Users can transfer money internationally over the phone or send money in 33 different currencies.
Rates & Fees
Moneycorp's official website shows the high and low exchange rates it offers for currencies such as GBP/EUR with a high rate of 1.1755 and a low rate of 1.1004, GBP/USD with a high rate of 1.4243 and a low rate of 1.3450, and EUR/USD with a high rate of 1.2349 and a low rate of 1.1704.
Forex Trading
Moneycorp offers a range of online foreign exchange solutions, including forwarding contracts, spot contracts, market orders, and currency options.
Spreads
Moneycorp spreads information part is not fully disclosed on its official website.
Business Payment Solutions
Moneycorp can transfer funds to 190 countries using over 120 currencies with its commercial payment solutions, including bulk payments (bulk international transfers to a wide range of recipients) and API integrated payments.
Risk Management
Moneycorp offers a currency risk management service. Using a Moneycorp Business Account, investors can access a variety of currency contracts and options to help them manage their foreign exchange risk. Currency risk management tools include spot and forward contracts as well as stop and limit orders.
Moneycorp has FCA regulation, which provides a layer of legitimacy and security. However, the "Exceeded" regulatory status raises concerns about whether Moneycorp continues to meet the latest compliance requirements. As someone who always looks for safe brokers to trade with, I would be cautious when using Moneycorp for larger sums or complex financial services. The "Exceeded" status could potentially mean that Moneycorp isn’t operating under the latest oversight standards. So, I would recommend doing thorough research before deciding if Moneycorp is safe for your needs.
Moneycorp does not support popular platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which are widely preferred for forex trading. Instead, Moneycorp provides its custom trading platform, which may have certain advantages, but it lacks the flexibility and extensive third-party integrations that MT4 and MT5 offer. For traders like me who prefer the versatility of MT4 or MT5, this could be a significant downside. A more established platform would allow me to integrate external tools, indicators, and robots for automated trading.
Moneycorp supports various payment methods, including credit cards, Skrill, Neteller, and bank wire transfers. These are standard methods, but the lack of crypto payment options or PayPal may be a limitation for traders who prefer those options. As a trader who values the flexibility of e-wallets, I appreciate that Neteller and Skrill are supported, but I would have preferred a more diverse set of payment options, including PayPal or crypto for added convenience.
The minimum deposit required to open a Moneycorp account is not specified in the available information. Given that Moneycorp offers services ranging from personal money transfers to business payments, the minimum deposit could vary based on the type of account or service you choose. As someone who prefers knowing all the costs upfront, I would recommend reaching out to Moneycorp directly to clarify the minimum deposit for opening an account and getting started with their services.
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