MeritGroup Review: MeritGroup.trade Beware of this Company

MeritGroup Review
  • Fund Safety
  • Regulation Status
  • Customer Support
  • Proof of Payment
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Summary

MeritGroup is a shady broker that is targeting both novice and expert traders. However, you won’t find expert investors wasting their time with this platform. Suspicious firms often feature fake reviews to win the trust of investors.

MeritGroup is an investment company that claims it offers over 200 trading instruments. Investors can trade precious metals, currency pairs, and forex. If you want to make a passive income, the venture welcomes you to join them.

MeritGroup Review, MeritGroup Company

Investors’ orders are executed within seconds. They eliminate the involvement of intermediaries. Therefore clients can earn funds directly into their account. Moreover, this entity brags that it has over 20K active customers.

MeritGroup is capable of featuring false statistics to win over investors. Additionally, the firm claims that it has over 11 years of experience. Unfortunately, they do not present their trading result, which is a big red flag.

MeritGroup.trade Review

The company has various assets, including indices, CFDs, EFTs, commodities shares, and crypto. The venture is a jack of all trades. They do not want to miss on any opportunity of making them money. The company also states it is offering an MT4 trading platform.

The venture is dealing with the Russian Forex industry. Moreover, the venture also states that it is licensed. However, the firm is operating as it wants. The trading conditions of this firm are not known. Moreover, this is an offshore entity that tries very hard to remain relevant in the market. Traders who join them risk their safety. It would be best if you did not easily trust this venture.

Here are some of the best forex trading brokers in the market. You can trade multiple currency pairs that are available in this platforms. Moreover, you can generate real-time profits.

MeritGroup Trading Conditions

MeritGroup is offering a fixed spread of 0.3 pips. It is beneficial to traders. The leverage to expect is that of 1:1000, which is beyond what the regulatory body permits. The platform allegedly uses various strategies to generate returns.

Some of their strategies include; hedging, using EAs, scalping, and following trading news. The broker is offering an MT4 and a web-based interface to their customers. The website is available in various languages.

The currency pair of EURUSD provides a spread of 0.5 pips. It is a great offer since investors will be paying less. The leverage cap of MeritGroup is absurd, and the limit is over what financial bodies permit.

The firm is offering a cap of 1:1000. The FCA, which is the finical watchdog of the UK, limits the leverage to 1:30. The USA and Canadian body’s maximum leverage is 1:50. It is a risky offer that exposes traders to severe risks.

Withdrawal and Deposit

The minimum amount that you can cash into this system is $250. MeritGroup is accepting money via Visa, MasterCard, Wire Transfers, and multiple cryptocurrencies. In most cases, most investment schemes in the market accept as low as $100.

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However, you should approach this broker with caution. If you want to test the water with them, we suggest that you deposit money via the bank card option. Here you stand a chance of getting a refund. Paying using crypto or wire transfers exposes you to more risks.

MeritGroup terms and conditions policy is available in Russian only. Therefore, investors who are not native Russians cannot understand what is being said. Hence, we do not know the withdrawal or deposit requirements of this venture.

Additionally, this broker is offering bonuses to investors. Sadly, we do not know the requirements that traders have to meet to cash out. Avoid this broker since the inactivity policy is not outlined.

Moreover, we don’t know the fees which the firm is charging. Since this company lies about being licensed, we advise investors to avoid any engagement with them. The only thing that you are going to get from them is regrets.

MeritGroup Contact Details

The platform states claim that it has offices in various areas. These include; London, Prague, and London. The specific location of their office is unfortunately not disclosed. The support can be contacted via email or phone.

Scam ventures have a bad customer support service. They never respond to the query of investors. Therefore, you will waste time waiting for customer care to respond. This is an offshore platform that does not care about its clients.

Every form of business invests heavily in its customer support team. They understand that customer satisfaction translates to the success of a business. There is no legit business that would harm their PR by not having a sound support team.

MeritGroup is most likely not going to respond to the query of investors. Ensure that the entity that you invest with has sound support team. You can know better the experience to expect from an entity by reading the experience of investors.

Registration and Regulation

MeritGroup is a venture that is managed by Paradfintrades LLC. The firm is registered in St Vincent and Grenadines. The area is infamously known for hosting shady companies. Furthermore, the area does not license forex trading or any other online services.

The platform also claims that it has a license from CROFR. Unfortunately, this is not a legitimate body, and it has been associated with shady investment firms in the past. Moreover, it shows that the venture was established by scammers to confuse investors.

Therefore, the money that you deposit at MeritGroup is not safe. The broker is not licensed, and the people that are behind this venture are professional con artists. Our best advice is that you stay away from this firm.

There are multiple legit investment platforms that you can use to earn real-time returns. Ensure that you check on the legitimacy of a firm. Additionally, performing thorough research will save you from making the wrong decision.

You stand a chance of being compensated when you invest with licensed companies. Funds are segregated into separate accounts, and the broker cannot misuse your money for personal gains. Moreover, the organizations must report their daily activities to the financial bodies.

MeritGroup Testimonials

The company has several testimonials in the form of videos. The reviewer speaks in Russians. They are praising the company for being the best. However, there is no proof of payment. Their statement is not valid.

MeritGroup.trade Review, MeritGroup Testimonials

MeritGroup is a shady broker that is targeting both novice and expert traders. However, you won’t find expert investors wasting their time with this platform. Suspicious firms often feature fake reviews to win the trust of investors.

It is best to read the experience of traders from third-party websites. Companies cannot manipulate information left behind, unlike on their website. The platform additionally does not have its trading performance.

The Domain Insight

MeritGroup has traffic of 6,688,190. They are not getting much engagement on their website. The registration of this firm took place in February 2020. It will expire in Feb 2022. Hence, you should avoid this dirty scheme.

Final Verdict

The company is not licensed, and they are collecting money from investors all over the world. The platform is violating multiple rules. Moreover, the venture does not have a customer support team. Therefore, nobody will come to your rescue once the broker exit the industry.

Ensure that you trade with legit forex trading companies that are transparent. These are top investment firms in the market that are genuine. Moreover, you can earn passive income with them. Their trading conditions also consider the needs of investors.

MeritGroup does not have client feedback. It is impossible to know the experience of those that have traded with the firm. Furthermore, you will sign up with them and never know what you are signing up for since their policy is only available via the Russian language.

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