Merit Forex is a financial service firm registered and licensed in the Republic of Vanuatu. The brand offers forex/CFD trading on the MT4 and MT5 trading platforms.
|#||Broker's Features||MERIT FOREX Availability|
|#||Accepts US traders||❌|
|#||24 hour trading||❌|
|#||Trading by phone||❌|
|#||1st deposit bonus||❌|
|#||Forex contests competitions||❌|
|#||Interest charges on the balance||❌|
|#||24 hour support||✔|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review Merit Forex.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Merit Forex offers Online Financial Trading and Investment Services Such as Currencies, Commodities, Indices, Cryptocurrency, Futures.
Tradable Products: Merit Forex broker offers 49 currencies pairs, 3 CFDs, 9 metals, 12 indices, 2 commodities and 4 cryptocurrencies
Broker Type: Many types of brokers can be found in the most dynamic market in the world. Merit Forex is Dealing Desk.
Features: Merit Forex offers the ‘One Billion Signals’ and Copy trading services to all clients who wish to opt in.
As a market maker, Merit Forex may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Merit Forex recommended minimum capital is $0.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Merit Forex is regulated by VFSC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Investor Protection & Regulations: Merit Forex is licensed by the VFSC in the republic of Vanuatu. All clients are verified using KYC procedures. Both the trading environment and the website are protected using SSL technology.
Languages Available: Next lets have a look at each broker's different Language options. Merit Forex offers English, German, Italian, Russian.
Payment methods: Next lets have a look at each broker's payment options. Merit Forex offers Credit/Debit Cards, Cryptocurrencies, Neteller, Skrill, Bank Wire Transfer different payment methods for each account types.
Deposit and withdrawal: The card payment methods accepted on Merit Forex are VISA, Maestro and MasterCard. Neteller and Skrill are the mobile wallets accepted. Bank wire transfers and Bitcoin can also be used to fund or withdraw from a Merit Forex trading account.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Merit Forex makes MT5 available to clients.
Web & Desktop Trading Platforms: The MT4 and the MT5 are the trading platforms provided for Merit Forex clients. They are available as WebTrader platforms, Windows/Mac desktop applications and mobile apps.
Mobile Trading Platforms: The MT4 and the MT5 mobile apps can be downloaded and installed on iOS and android devices. The apps can be used to monitor prices, place trades, perform technical analysis, etc.
Merit Forex provides educational one-on-one sessions with a professional mentor based on clients’ needs and level of knowledge. Also, educational materials can be found through some nice forex/CFD training articles and a glossary on the website.
Merit Forex Clients are rewarded with several promotions that available under this broker, Including referral, trading and cashback bonuses
The customer support is available 24/5. You can chat with them on the web and on Skype. They can also be reached on phone, email and on social media.
Merit Forex provides access to trade over 70 instruments on the MT4 and MT5 platforms. The account types are designed to cater for the needs of beginner and intermediate level traders. Expert traders will find the resources provided to be insufficient for their requirements.
The regulatory status of this broker may prove to be a limiting factor as offshore regulators tend to be looked at with a suspicion by a large percentage of the trading community in the UK and EU.
Merit Forex brokerage services are appropriate for beginner and intermediate traders due to their demo account, and training articles.