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No valid regulatory information, please be aware of the risk!
+964 75053 645 45
Pyramid scheme complaint
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
|Market Instrument||forex, cryptocurrencies, indices, futures, stocks and metals|
|Account Type||Classic, Silver, Gold and Diamond|
|Spread||Classic: 2.9 pips; Silver: 2.2 pips; Gold: 1 pip; Diamond: 0.1 pips|
|Trading Platform||MT4 & MT5|
|Deposit & Withdrawal Method||N/A|
Mercato Brokers is allegedly a multi-asset brokerage firm registered in Iraq that claims to provide its clients with various tradable financial instruments with leverage up to 1:400 and floating spreads on the MT4 and MT5 trading platforms via four different live account types. Here is the home page of this brokers official site:
As for regulation, it has been verified that Mercato Brokers currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.24/10. Please be aware of the risk.
Mercato Brokers advertises that it offers access to a wide range of trading instruments in financial markets, including forex, cryptocurrencies, indices, futures, stocks and metals.
Apart from demo accounts, Mercato Brokers claims to offer four types of trading accounts, namely Classic, Silver, Gold and Diamond. The minimum initial deposit for the Classic account is $500. The other accounts start at $1,000 and $10,000 respectively with the exception of the Diamond account where clients need to call them to get more specific information.
The leverage provided by Mercato Brokers is capped at 1:400. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads & Commissions
All spreads with Mercato Brokers are a floating type and scaled with the accounts offered. For example, 2.9 pips on the Classic account, 2.2 pips on the Silver account, 1 pip on the Gold account and 0.1 pips on the Diamond account. However, it does not provide any information on commissions.
Trading Platform Available
The platform available for trading at Mercato Brokers is the world's most advanced and popularly-used MT4 and MT5 for PC, Web Trader, iPhone and Android. They are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Due to our inability to register an account, we were also unable to determine what payment methods Mercato Brokers uses. The minimum initial deposit requirement is said to be $500.
Mercato Brokers customer support can be reached by telephone: +964 77 0000 2988, email: email@example.com or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook and Instagram. Company address: Iraq, Erbil, Dream city, Building No. 308.
Pros & Cons
|• Demo accounts available||• No regulation|
|• MT4 & MT5 supported||• Lack of transparency|
|• Wide range of trading assets||• High minimum deposit|
|• Multiple account types||• Uncompetitive spreads|
Frequently Asked Questions (FAQs)
|Q 1:||Is Mercato Brokers regulated？|
|A 1:||No. It has been verified that Mercato Brokers currently has no valid regulation.|
|Q 2:||Does Mercato Brokers offer demo accounts？|
|Q 3:||Does Mercato Brokers offer the industry-standard MT4 & MT5？|
|A 3:||Yes. Mercato Brokers offers both MT4 and MT5.|
|Q 4:||What is the minimum deposit for Mercato Brokers？|
|A 4:||The minimum initial deposit at Mercato Brokers to open a Classic account is $500.|
|Q 5:||Is Mercato Brokers a good broker for beginners？|
|A 5:||No. Mercato Brokers is not a good choice for beginners. Although it offers demo accounts on the MT4 and MT5 platforms, it lacks valid regulation is the truth.|
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