MERRY CAPITAL foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://www.merryforex.com/, about the company's legal and temporary regulatory information, the company's address Level 24, Three International Towers, 300 Barangaroo Avenue, Sydney 2000.
MERRY CAPITAL Forex Broker
Basic Information
Australia
2-5 years Suspicious Regulatory License Suspicious Scope of Business Australia Appointed Representative(AR) Revoked High potential riskCompany profile
Rating Index
Merry Capital Forex Broker - Complete Information Guide
1. Broker Overview
Merry Capital, officially registered as Merry Capital Limited, was established on December 29, 2023. The broker is headquartered in Zetland, New South Wales, Australia, and operates primarily in the financial trading sector. It focuses on offering a variety of trading services including forex, metals, energy, indices, stocks, and cryptocurrencies. The official website of Merry Capital is merryforex.com, which supports both English and Japanese languages.
Merry Capital is a privately held company that aims to cater to a diverse clientele, including retail traders and institutional investors. The broker has positioned itself in the competitive forex market, providing various financial instruments to meet the needs of different user groups. Despite being a relatively new entrant in the industry, Merry Capital has made strides in establishing its presence.
The company operates under a business model that primarily focuses on retail forex trading, allowing individual traders to access various financial markets. As it continues to grow, Merry Capital aims to enhance its service offerings and expand its market reach.
2. Regulatory and Compliance Information
Merry Capital claims to hold a license from the Australian Securities and Investments Commission (ASIC), which is a significant regulatory body in Australia. The registration number associated with Merry Capital is ACN 673 903 529. As of December 31, 2023, the company became an authorized representative of Star Funds Management Pty Ltd, which is also regulated by ASIC, with its Australian Financial Services (AFS) representative number being 001307386.
However, it is crucial to note that holding an ASIC license does not automatically imply that the broker is reliably regulated or trustworthy, especially for clients outside Australia. There are concerns regarding the adequacy of regulation and whether Merry Capital is fully authorized to conduct forex trading activities.
Merry Capital has not provided substantial information regarding its compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, which are essential for ensuring the safety and security of client funds. The lack of transparency in these areas raises questions about the broker's commitment to regulatory standards.
3. Trading Products and Services
Merry Capital offers a wide range of trading products, including:
- Forex Pairs: The broker provides access to various forex currency pairs, although the specific number of pairs available has not been disclosed.
- Contracts for Difference (CFDs): This includes indices, commodities, stocks, and cryptocurrencies. Each category offers unique characteristics that cater to different trading strategies.
- Diverse Financial Instruments: The ability to trade metals, energy, and cryptocurrencies allows traders to diversify their portfolios and manage risks effectively.
While Merry Capital aims to meet the needs of various market participants, details regarding the frequency of product updates and the introduction of new trading instruments are not available. The broker's commitment to providing a robust trading environment remains to be seen as it develops its offerings.
4. Trading Platform and Technology
Merry Capital's official website does not specify whether it supports popular trading platforms like MetaTrader 4 or MetaTrader 5. Instead, it provides a textual description of its trading platform without offering a direct entry or download channel for users.
The broker claims to provide a seamless trading environment with real-time market execution and a no re-quotes policy. However, there is a lack of detailed information regarding the server locations, technology infrastructure, and whether API access and automated trading are supported.
The absence of comprehensive details about the trading platform may lead to uncertainty among potential traders regarding the tools and resources available for effective trading.
5. Account Types and Trading Conditions
Merry Capital appears to offer a single registration portal without distinguishing between different account types. There is no option for traders to select specific account types during registration, which can create confusion for new users.
Key parameters such as leverage ratios, fees, spreads, and minimum deposit requirements have not been disclosed on the broker's website. This lack of transparency can potentially lead to significant financial risks for users, as they may not be fully aware of the trading conditions they are entering.
The broker does not provide clear information on overnight fees or the minimum trading lot sizes, which are critical for traders to understand their cost structures and risk management strategies.
6. Fund Management
Merry Capital's website does not disclose specific information regarding supported deposit methods, such as bank transfers, credit cards, or e-wallets. The minimum deposit requirements for different account types are also not provided.
The processing times for deposits and withdrawals remain unclear, which could lead to delays and complications for traders looking to manage their funds effectively. Additionally, there is no mention of any fees associated with deposits or withdrawals, further adding to the uncertainty surrounding the broker's fund management policies.
Withdrawals are reportedly subject to processing delays, which poses a higher financial risk for traders relying on timely access to their funds.
7. Customer Support and Educational Resources
Merry Capital offers several customer support channels, including email and a physical address for inquiries. However, the specific service hours and time zone coverage are not detailed on their website.
The broker supports multiple languages, including English and Japanese, making it accessible to a broader audience. Educational resources such as webinars, tutorials, and e-books are not explicitly mentioned, which could limit the learning opportunities for new traders.
Market analysis services, including daily analysis, news updates, and research reports, are also not highlighted, which may impact traders' ability to make informed decisions based on market trends.
8. Regional Coverage and Restrictions
Merry Capital primarily serves clients in Australia and Japan, as indicated by its website's language support. However, the specific regional distribution of its offices is not disclosed.
The broker does not provide a clear list of countries or regions from which it does not accept clients. This lack of information can create confusion for potential traders who may be interested in opening accounts with Merry Capital.
In summary, while Merry Capital offers a variety of trading products and claims to be regulated by ASIC, the broker's lack of transparency in key areas such as account types, trading conditions, fund management, and customer support raises concerns. Potential clients should exercise caution and conduct thorough research before engaging with this broker.
Overall, Merry Capital presents itself as a diversified trading platform, but prospective traders should carefully consider the potential risks involved due to the limited information available.
MERRY CAPITAL Similar Brokers
Latest Reviews
Raphaël Durand
France
I know Merry Capital tries to win us over with lower trading fees, surely cool. But here's the thing: their customer support is straight-up awful, slow to respond and ignore your questions. That kinda cancels out the whole low-cost thing... 😔😔😔
37130
2024-06-28
Chen Miyagi
Singapore
I wish the company had the support in French – it’s a popular language anyway. And it would save me lots of troubles. And they don’t provide the Bitcoin as a payment system. Dunno why – it’s so convenient!
37130
2024-06-28
みのたん
Japan
On March 27, 2024, I was instructed by Maruyama Investment Group, a support role in the investment group, to purchase the maximum amount of 76,000 barrels of crude oil that could be purchased with the funds at that time. I paid a margin of 228,000 USD (equivalent to 34.2 million yen at an exchange rate of 150 yen) and entered the purchase of the instructed quantity of crude oil. The lottery for the entered crude oil was conducted on March 29, two days later, and a large amount of crude oil, which accounted for 40% of the application of 30,400 barrels with an expected winning probability of 5%, was won. As a result, a huge profit of 1.216 million USD (equivalent to 182.4 million yen at an exchange rate of 150 yen) was confirmed, and a large additional margin of 684,000 USD (equivalent to 126 million yen at an exchange rate of 150 yen) was requested to settle this confirmed profit. From the customer representative of Merry Capital, it was informed that if the payment is not made by the settlement deadline of April 1, a delay damage fee of 10% will be incurred for each day of delay, and if the payment is not made for a certain number of days, it will be reported to the Financial Services Agency, and legal proceedings will be initiated and the margin will be confiscated. It was granted a three-day extension until April 4 by the customer of Merry Capital, assuming payment of additional margin. Furthermore, an additional deposit of 1 million yen was requested for a three-day extension, and it was granted an extension until April 7 by depositing it into the designated account on April 4. Through negotiations, an extension until April 16 was also granted. From the assistant of Maruyama Investment Group, it was proposed that if I deposit 200,000 USD of the additional margin of 684,000 USD into the account of Merry Capital Limited, the remaining 484,000 USD would be settled by my network. Actually, a part of it, 45,471,000 yen (about 300,000 USD), was transferred to my Merry Capital account, and it was promised that the remaining 184,000 USD would also be transferred. Believing in the support provided by Mr. Fujiwara, I borrowed 30 million yen (about 200,000 USD) and made a deposit, and a total of 506,780.76 USD was deposited into the designated account. However, the remaining additional margin of 184,000 USD (equivalent to 27.6 million yen at an exchange rate of 150 yen) that the assistant of Maruyama Investment Group had promised to support was not deposited, and the Merry Capital account was frozen and I was unable to withdraw funds due to the non-payment of the remaining additional margin of 184,000 USD. However, no report to the Financial Services Agency or legal proceedings have been made.
Exposure
2024-09-14