Mercer Capital (MercerFX) Review

A New Zealand based Forex broker, registered with FSPR and FSCL.

  • Editor Rating

  • Rated 4.5 stars
  • Outstanding
Mercer Capital
  • 3.4/5 Avg. User Rating

  • Rated 3.4 stars
  • 5 Reviews

  • Mercer Capital
  • Reviewed by:
  • Published on:
  • Last modified: May 14, 2014
  • Execution
    Editor: 85%
    User: 59%
  • Reliability
    Editor: 92%
    User: 60%
  • Fees
    Editor: 93%
    User: 57%
  • Support
    Editor: 95%
    User: 58%

Review Summary:

All in all a very good broker with a personal touch. Although a little small it is fully regulated.

Mercer Capital is registered at the New Zealand Financial Service Provider Register (No. FSP347626) . It is a member of the Financial Services Complaints Limited. And it has a solid anti-money laundering policy in place. Which makes it a very trustworthy regulated Forex broker. It also has offices in Gibraltar and the UK.

They are an STP broker. Which means they have optimized the speed that transactions are processed at. And that means faster fills and less costs for you. And with more than 5,000 clients they are not one of the biggest brokers out there. But that will definitely be advantageous if you have to deal with their support team. Smaller brokerages often have a lot better support desks than most other brokers.

Forex & CFDs

Like most other Forex brokers, they offer Forex and CFDs. This gives you the ability to trade commodities and indices besides their main product, currencies.

Platforms

One of the platforms the offer to trade with is MetaTrader. This desktop software platform is well known around the world and has many users. The popularity of this platform has created a very large contributor base, which means there are many tutorials, indicators and EAs available for this platform. A good choice to start trading with.

Mercer Webtrader is their web trading platform. You can use this to trade from behind a firewall. Or if you want to execute a quick and easy manual trade.

Mobile trading is available with them using the MetaTrader app. Which is both available for iOS and Android.

Tools

Tools is often times how brokers try to differentiate themselves from each other. This broker is no different and offers a fair package of tools. A regular economic calendar. Market research by the Mercer global research team that is led by Thomas Mathew who has more than 35 years of experience. They help beginner trader and experienced traders trade better.

Support

Very friendly support helps you with any question you might have. And just like the research team, they are there to give you very close to tailored service. Especially if you have a Pro Account.

Accounts

At only a $1000 minimal account deposit and a 100% Bonus for a Standard Account, this broker is great if you are just beginning to trade. But looking at the 36 currency pairs and Gold, Silver and Indices they have on offer for this account, you can trade with them even if you are more experienced. They also offer 1:100 leverage for currencies and 1:200 leverage for precious metals.

But they also offer a Pro Account. You get one when you start with a $20,000 deposit. You get an extra 6 currency pairs to trade. Lower spreads. And you also can use 1:200 leverage for currencies and 1:200 leverage for precious metals.

Institutional and Custom accounts are also available. These offer more flexibility in the terms of the account.

All in all a very good broker with a personal touch. Although a little small it is fully regulated.

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Open a Live account

Pros

  • Low minimum account deposit
  • Excellent support, with personal touch
  • Experienced researchers and management

Cons

  • Small broker

User Reviews

  1. Filipe

    • Execution
      94%
    • Reliability
      100%
    • Fees
      85%
    • Support
      91%
    • Rated 5 stars

    Great broker, although they can be a little agressive if you ask them about the markets. Their small size and local presence makes them a perfect fit for me.

  2. Sanderdu

    • Execution
      100%
    • Reliability
      100%
    • Fees
      100%
    • Support
      100%
    • Rated 5 stars

    Wow! Why is this broker still so small? That is what I ask myself after having traded with them for a few months. Great people, great platform. Very happy thus far.

  3. Lui Santana

    • Execution
      99%
    • Reliability
      99%
    • Fees
      99%
    • Support
      99%
    • Rated 5 stars

    Honesty and reliability attained! i am happy i changed to Mercer.. $$$

  4. Raunaq

    • Execution
      1%
    • Reliability
      1%
    • Fees
      1%
    • Support
      1%
    • Rated 1 stars

    Hi,

    I would like to let all people know who have suffered hugely with Mercer to take action now … I have filed complaints against them to New Zealand, London, Cyprus authorities as they were not able to compensate for their and their trader Jack Green’s purposeful mistakes … So, whoever else has lost any sum of money, please reply to my message and give me your email so that I will get in touch with you and we can gather more evidence and give to the authorities in addition to what I have already submitted as they have started proper investigation against them now!! Also for anyone looking to further invest with them, please DO NOT and withdraw anything that you have. Stay away from this fraudulent firm. Whatever they are saying above is all wrong!!!
    Let me explain to you all what Mercer is … They contact their clients … tell them ALWAYS that they accept if clients start with small investments also … then make a few good trades and show us that they have made profit and then keep forcing us to increase our investments … If we deny, then they would either pause trading until the client gets annoyed and takes action OR they would simply just wipe off the account on purpose …
    These is exactly what happened with me and 3 of my relatives who were with Mercer … Their trader Jack Green was responsible for my account and first, we had started with Dupont Fx (this company is now closed because of again fraudulent activities and the UK govt. had to ban them from operating) and Jack went to Mercer then saying that Dupont has merged with Mercer to go bigger and better … false for sure !!! It seems like Dupont, Mercer, Saberfx all seem to be related to each other … and probably have same owner also who carries all these fraudulent activities … Could be Jacob Amar, Jack Amar, Jeff chesner, David Wylie, David Schiffer … Any of these as per my experiences and my conversations with these fraudulent companies!!!
    So in my case, Jack wiped off my account with a huge amount of sum in the account in beginning December … and it was really scary because he was placing trades with 100 lots and I had repeatedly told him NOT TO place such big trades but he would never listen and always ignored and completely opposite happened to what was supposed to happen with that trade and if wiped off the whole account … I really got scared and tried contacting him but he would first not reply on Skype or Emails or Telephone … and then after a couple of days he replied, saying unfortunately, the trade did not go as expected but he confirmed to me saying that Mercer has insurance on our deposits and he managed to get all my deposits into a new account and additionally gave me a bonus for the profits lost (these are their biggest scams… they try to buy their clients by offering bonuses and ALWAYS take them back if we try to withdraw or don’t do any more deposits saying that these are what the terms of the bonus are … this is just their trick to get us to put more and more deposits) … So, all my deposits were back into a new account and being so scared, I wanted to withdraw all my deposits … but he said that is not possible as it will first have to be a dispute case between me and Mercer where I will not be able to get anything for 3-4 months and then only anything can be decided … which is completely ridiculous as it was my money and I should be allowed to withdraw when I want to … So he was quiet for most of Jan by not placing any trades and then from February onwards, as I had deposited so much into the account, I started to withdraw … For every withdraw I had to argue and fight with him for so long because he would just say I cannot withdraw as I have not been depositing … He used to quote examples saying that he will allow for withdrawal for say 20k and then I need to bring in however 30k into the account … COMPLETELY RIDICULOUS … why would I withdraw if I have to later deposit … completely senseless and this is what they do with all their clients … Obviously, me and all other 3 family members had a lot invested with them and therefore, told him that we are not able to deposit anything anymore … This was definitely not what he wanted and he wanted to show what he is really capable of … So he starts messing up with our accounts … Placing huge Lots (again after we always being against them and he completely ignoring all our emails) and also placing trades opposite to the market on purpose .. for example, in End February, when USD was getting very strong … he knew that in the market still he places big lots to buy EURUSD and then closes that at a huge loss and then sells USDCAD … I mean if USD is going strong and we can see it in the market, these are trades he should not be placing … Within an hour, he wiped off 3 accounts with huge sums and placed big lots on my account (biggest account) again against the market … and did not close that trade probably because he wanted to wipe my account with this trade only going forward … and after 3 weeks or so that’s what happened as the hedges could not sustain that trade as it had gone in a huge deep hole thanks to him … When we contacted Jack for wiping the 3 accounts, he said this is normal and he should not be blamed for it .. Which is again wrong because even after me telling him to stop placing those trades, he did them on purpose … and then obviously as he had done before with my account, I asked him that we have insurance on our deposits so he should place all of those into a new account … and then he completely denied that too saying that he never said all of that which is not true and as they say, they have our telephonic conversations, they can all be replayed and checked again that I am not lying.
    Since Mercer decided not to help me a lot and after a month, I hear that they have terminated Jack because he was a fraud and not working properly for the firm, which I knew by his actions … we demanded that Mercer should refund us our deposits which Jack on purpose lost … and they would not agree and help and said can max. compensate only 25% which was NOT ACCEPTABLE… due to which New Zealand authorities have started full investigation against them and that’s why I request you to also come forward and add more to my complain so that we have an even strong case against them.
    The other things that they are famous for are: making trades disappear from our account ie. Obviously trades do not go as planned and start making huge losses so when we are a new client, they do not want to show us negative trades so first couple of times for free they will disappear the trades from our account … and then after that, again these crisis will always come and then they ask us to make for example 10 lots disappear, insert 10k into the account and then they will make these disappear from the account as well so that no losses are reflected on the account and the deposits are safe too etc … Jack did this more than 8-10 times in all of our 4 accounts together … not normal at all but we would have lost our deposits if we would not have agreed to them !!!
    Also, they are very good at making amendments to our accounts and amendements to even CLOSED TRADES … For example, after Jack started screwing up our account, I changed all my passwords and did not want him to even touch my account, which had huge lots of losses as open trades … And then one trade had gone positive and I closed those 28 lots with around 5k profit … then after a couple of weeks, I see my account, and that closed trade was disappeared from my account and 20 lots of that same trade ID# was reclosed at 30k loss … I mean this is huge fraud from their side what was done and I have proper screenshots to support this and I asked Jack what happened with that… and he completely said he is not aware of anything happening to the account and I am only the one responsible for this. Then in a weeks time he got terminated … and another person Joe Cannon was given my account and he also did not see that … Then I had to give him my screenshots to him to prove it and then he agreed and again changed that trade to closed at a profit amount but with 20 lots … and I said that is wrong too as I had closed this trade at a profit with 28 lots (as I wanted to just see till what extent they can change closed trades)… and then somehow he again goes back and changes the trade lots to 28 to get it back to properly what I had … I mean this was shocking and FRAUD completely as they changed a close trade’s lot size, closing price etc … which means they can do anything to the accounts and make clients temporarily happy with these FAKE HOPES AND FRAUD ACTIVITIES.
    Anyways, all must be thinking what do they do get out of all this … as they do not even take the 10% commission of the profits they promised at the beginning (they NEVER took anything from our account as commission probably because they knew they will eventually wipe off the account … do what they are best at) … They keep forcing us to put more and more deposits so that our account sizes increase … They also temporarily give us bonuses to have more equity in the account and a better margin … This is all because the brokers want to put bigger trades with bigger lots … By doing so, Mercer as a company make a lot of money and probably the brokers get money from the company as bonuses and commissions … I have another MT4 brokers account with another company who have very tight and good spreads and I compared theirs to Mercer and it was very shocking what I saw … The spreads (difference between pips for Buy and Sell amount)for Mercer are very very bad … and that is where they make their money … by placing huge lots so that huge trades and huge income for Mercer is generated and after that even when we are losing those trades it does not matter a lot to them as they still make money … and when they make our trades disappear with extra deposits from us … its win win from them … that they make more money with our extra deposits plus after making a trade disappear they obviously do not refund back the spread income they make …
    So in simple words, COMPLETE FRAUD FIRMS run by FRAUDSTERS … Please let me contact you if you have been a victim with Mercer and if you are currently active with them, please trust me and leave ASAP now as you will regret it later not doing so.

    Thanks a lot.

  5. jose martinez

    • Execution
      1%
    • Reliability
      1%
    • Fees
      1%
    • Support
      1%
    • Rated 1 stars

    is a fucking scam they still my money DO NOT JOIN

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