General Information& Regulation
MeritKapital Ltd (MeritKapital) is a Cyprus based, CySEC licensed investment firm (#77/06) with an FCA licensed company in London. MeritKapital has a predominantly fixed income focus, specifically within the emerging market Eurobond sphere. It has established a network of buy side clients amongst the emerging market jurisdictions it has a niche, but also within the western capital markets to capitalize on players that drive respective flows.
Products & Services
Financial services offered by this broker include asset management, custody, Deakling on own, underwriting, brokerage services on derivatives, equities, fixed income and forex. MeritKapital Forex brokerage services are delivered via the Direct Market Access platforms or through OTC (Over The Counter) products, which enables the company to either match orders internally, or pass them to a global liquidity provider.
Minimum Deposit
MeritKapital offers a standard Forex trading account for all traders that make an initial deposit of $100, which grants access to only a single type of trading account.
Leverage
The maximum MeritKapital leverage is 1:100, but the company does allow a broad range of trading strategies such as scalping and hedging that are banned in countries such as the US.
Spreads & Commissions
MeritKapital has high spreads that may lead to increased cost of trading. The major drawback of trading with the company is the high MeritKapital spreads, which can charge traders as much as 3 to 6 pips on major currency pairs during normal trading conditions.
Trading Platform
There isnt any proprietary MeritKapital trading platform, nor does the company offer third-party trading software such as the MT4 or other leading independent platforms. Instead, all clients receive access to the Bloomberg FX GO trading platform, which is an advanced trading terminal used by professional traders and institutional investors.
Customer Support
MeritKapital is required to have an excellent customer service portal to help customers with their concerns, but the company has introduced a sub-par customer support channel that can be improved on many counts. Although there is a live chat feature, it ‘s hard to contact the department during regular market hours, in which case, you have to send an email and await a response. The official MeritKapital website also does not offer any detailed information about the trading products, which does prevent traders from getting timely information about the company’s products and services.
