Modmount is a forex broker established on February 16, 2022, primarily offering financial trading services in indices, forex, cryptocurrencies, stocks, and commodities, with its headquarters undisclosed. The broker does not provide services to the USA, Canada, Australia, Iran, North Korea, Myanmar, Israel, and EU member states, reserving the right to refuse registrations from other regions, like jurisdictions marked as high-risk by the Financial Action Task Force (FATF) or sanctioned countries.
Corporate Registration and Regulation:
Modmount Services Limited, registered in Seychelles with the address at Unit S41C, Espace Building, Le Chemin De La Fraternite, Ile Du Port, Seychelles, and registration number C8426105, is regulated by the Seychelles Financial Services Authority (FSA) under license number SD119. This entity is part of a group including Peaksight Ltd, Newblock Trading Limited, and FX Novus (Pty) Ltd.
Account Opening:
To open an account with Modmount, visit their website and click “START TRADING” on the homepage. After registering with personal details and completing a questionnaire, users can deposit funds and start trading.
Account Types:
Modmount offers five real trading accounts: Classic, Silver, Gold, Platinum, and VIP.
Classic Account:
- Commission-free deposits.
- Over 160 CFD assets.
- Forex leverage up to 1:400.
- Multilingual support, flexible spreads, advanced tools.
- Spreads for EUR/USD, GBP/USD, USD/JPY around 2.5 to 2.8; $0.14 for crude oil.
- Maximum leverage for stocks/equities: 1:5.
Silver Trading Account:
- Similar benefits as the Classic account with swap discounts and average execution speed of 0.08 seconds.
Gold Trading Account:
- Commission-free deposits, over 160 CFD assets.
- Faster execution (0.06 seconds), lower spreads starting from 0.05.
- Spreads: 1.8 for EUR/USD, 2.3 for GBP/USD and USD/JPY, $0.13 for crude oil.
Platinum Trading Account:
- CFDs on over 160 assets, swap discounts.
- Spreads from 0.05, faster execution (0.08 seconds).
- Spreads: 1.4 for EUR/USD, 2 for GBP/USD and USD/JPY, $0.12 for crude oil.
VIP Trading Account:
- Low commission on deposits, extensive asset range.
- Spreads: 0.9 for EUR/USD, 1.4 for GBP/USD and USD/JPY, $0.10 for crude oil.
Trading Platform:
Modmount provides a proprietary web-based trading platform.
Deposits and Withdrawals:
Deposits and withdrawals can be made via credit cards, e-wallets, and cryptocurrencies.
Summary:
Currently, Modmount is marked as "operating normally" on Traderknows.
