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Score

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/10

Mercato Brokers

Iraq|2-5 years|
White label MT4|Regional Brokers|High potential risk|

https://mercatobrokers.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

1
Server Name
MercatoBrokers-Server MT4
Server Location United Kingdom

Contact

+964 75053 645 45
info@mercatobrokers.com
https://mercatobrokers.com/
Iraq, Erbil, Dream city, Building No. 308

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Contact number

English

+964 75053 645 45

Broker Information

More

Company Name

Mercato Brokers

Company Abbreviation

Mercato Brokers

Platform registered country and region

Iraq

Company website
Twitter
Facebook
Instagram

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-06-26
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Mercato Brokers · WikiFX Survey

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Mercato Brokers · Company Summary

Risk Warning

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

Feature Detail
Regulation No regulation
Market Instrument forex, cryptocurrencies, indices, futures, stocks and metals
Account Type Classic, Silver, Gold and Diamond
Demo Account yes
Maximum Leverage 1:400
Spread Classic: 2.9 pips; Silver: 2.2 pips; Gold: 1 pip; Diamond: 0.1 pips
Commission N/A
Trading Platform MT4 & MT5
Minimum Deposit $500
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:

General Information & Regulation

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.

General Information & Regulation

Market Instruments

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.

Market Instruments

Account Types

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.

Account Types

Leverage

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.

Trading Platform Available

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.

Customer Support

Mercato Brokers customer support can be reached by telephone: +964 77 0000 2988, email: info@mercatobrokers.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

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?
A 2: Yes.
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.

User Reviews

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林辉昊
more than one year
I have been working with Mercato Brokers for over 6 months now and thanks to their expertise and knowledge I was able to put my Superannuation to good work. I found it was a really reliable and trustworthy brokerage company. Would definitely recommend their services. Especially in financial times like this!
2023-03-21 16:49
Reply
0
0
momo74136
more than one year
Mercato Brokers is good and, more importantly, safe. I would suggest the beginners start to trade on the demo account for a few weeks and understand how to use the platform before taking the plunge with actual trading.
2022-12-16 13:41
Reply
0
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