FXMeridian ReviewCategory: Reviews | Author: Trading Brokers | Date: January 14, 2024
Looking for a comprehensive review of FXMeridian? You’re in the right place. We’re about to explore the ins and outs of this forex and CFD broker, covering everything from their trading platforms to the variety of instruments they offer. We’ll also delve into their account types, funding methods, and regulatory status. Whether you’re a seasoned trader or just dipping your toes into the world of trading, this review aims to provide you with a clear picture of what FXMeridian brings to the table. So, let’s get the ball rolling!
Pros & Cons
- Offers a wide range of tradable assets
- Allows traders to copy successful trades
- Provides low spreads and commissions
- Offshore regulation may provide less oversight and protection
- Premium accounts require high deposits
- Less favorable trading conditions compared to other brokers
FXMeridian is a forex and CFD trading company that’s been around since 2007, with its headquarters nestled in Sofia, Bulgaria. They’re regulated by the Financial Services Commission (FSC) of Belize, which adds a layer of trust for traders. One of the standout features of FXMeridian is the sheer variety of trading instruments they offer. We’re talking over 1,000 tradable instruments, including forex pairs, commodities, indices, and stocks. That’s a lot of options for traders of all levels.
They’ve also got a couple of popular trading platforms on offer, including MetaTrader 4 and cTrader. This means you’ve got some choice in how you want to trade. On top of that, their pricing is pretty competitive, with low spreads starting from 0.0 pips and commissions starting from $3 per lot. That’s something that could make a big difference to your bottom line.
FXMeridian also puts a lot of emphasis on education. They offer a variety of resources and tools to help traders improve their skills. This is great for beginners who are just getting started, as well as more experienced traders who want to keep learning and improving.
One of the unique features of FXMeridian is its copy trading platform. This allows you to select highly successful traders to copy, potentially boosting your own trading profits. This could be a game-changer for your trading strategy, giving you the chance to leverage the experience of top performers.
It’s important to know who’s keeping an eye on your broker, right? FXMeridian claims to be associated with several companies with regulatory assertions. First off, there’s Ever Financial AD, which used to be known as Financial House Ever AD. They’re based in Bulgaria, with their address in Sofia. They’re registered in Bulgaria under the number 831649724 and are authorized and regulated by the Financial Supervision Commission (their register number is RG-03-08).
But that’s not all. Ever Financial AD is also registered under the MiFID regulations with a whole bunch of European regulators. We’re talking about AFM France, AFM Netherlands, BaFin Germany, CMVM Portugal, CSSF Luxembourg, CNMV Spain, CONSOB Italy, CySEC Cyprus, FMA Austria, FI Sweden, FSA Denmark, FSA Estonia, FSMA Belgium, KFN Poland, NBS Slovakia, and more.
FXMeridian is also confirmed to be regulated by the Vanuatu Financial Services Commission (VFSC). VFSC is an offshore regulator known for its less stringent regulatory environment. While this technically means FXMeridian is regulated, the level of oversight and investor protection may not be as robust as that provided by more established regulatory bodies.
So, there you have it. FXMeridian is part of a network of companies that are regulated by various bodies across Europe and in Vanuatu. But remember, it’s always a good idea to consider all your options. Please see a list of regulated brokers for some alternative options.
Platforms & Tools
When it comes to trading platforms and tools, FXMeridian has got a couple of things up its sleeve. Let’s dive into what they offer to make your trading experience smoother.
- FXMeridian Trading Platform: This is their main trading platform, which is designed to be user-friendly and accommodating for traders at all levels. It’s packed with features and tools aimed at making your trading process more efficient, whether you’re just starting out or have plenty of experience in the markets.
- Social Trading Feature: FXMeridian offers a social trading feature that allows you to observe and copy the trades of successful traders. This can be a powerful tool for learning and potentially enhancing your trading results by leveraging the expertise of others in the trading community.
FXMeridian seems to understand that knowledge is power, especially when it comes to trading.
First off, they provide educational materials to their clients. These materials typically include things like e-books, videos, and articles that cover a range of trading topics. This can be a great way to learn the basics if you’re new to trading or to deepen your knowledge if you’re more experienced.
In addition to these materials, FXMeridian also offers something called a “single event live session”. This sounds like a live webinar or seminar where you can learn about a specific trading topic in real-time. It’s a great opportunity to ask questions and learn from experts in the field.
FXMeridian has a good spread of options, so you can find something that suits your trading style.
- Forex: FXMeridian provides access to over 50 currency pairs for forex trading. This allows clients to speculate on the price movements between different global currencies.
- Indices: The broker offers CFD trading on major stock market indices like the S&P 500, FTSE 100, DAX 30, and more. This provides exposure to broader market movements.
- Commodities: FXMeridian allows trading on commodities like gold, silver, oil, and soft commodities such as coffee and sugar. This caters to traders interested in these assets.
- Cryptocurrencies: The broker claims to offer access to leading cryptocurrencies for trading, though the specific coins are not mentioned. This taps into the growing crypto market.
- Shares/Stocks: FXMeridian provides the ability to trade CFDs on global company stocks across various sectors. This offers more trading opportunities.
They have three main account types: Silver, Gold, and Platinum. Each one has its own perks and minimum deposit requirements.
- Silver Account: This is the entry-level account. You can get started with a deposit of 2,000€. The spreads start from 2.1 PIPS and there’s a 2€ commission on shares. You get access to mobile trading, weekly/monthly portfolio examinations and projections, educational materials, and a personal account manager. Not a bad package to start your trading journey.
- Gold Account: Next up is the Gold account. You’ll need a deposit of 10,000€ to open this one. The spreads are a bit tighter, starting from 1.5 PIPS, but the commission on shares is still 2€. You get all the perks of the Silver account, plus daily signals to help guide your trading decisions.
- Platinum Account: This is the top-tier account. It requires a deposit of 50,000€, but it comes with some extra perks. The spreads start from just 0.9 PIPS and the commission on shares is still 2€. You get everything from the Gold account, plus personal portfolio building, 24/5 account manager support, and a single event live session.
Let’s chat about how you can fund your account with FXMeridian. They’ve got a few options on offer, so you can choose what works best for you.
- Visa and MasterCard: These are widely accepted credit or debit cards that most people already have in their wallets. Funding your account with these cards is usually quick and convenient. However, according to FXMeridian’s terms and conditions, a 4% processing commission is applied when using these methods, which is something to consider when choosing your funding method.
- Skrill: This is an e-wallet option that allows you to keep your trading funds separate from your main bank account. It’s a popular choice among many traders due to its convenience and speed. But remember, the 4% processing commission applies to e-wallets as well.
- Trustly: Another e-wallet option, Trustly is relatively new but has been gaining popularity for its speed and security. It offers a seamless online payment experience, but like Skrill, it’s subject to the 4% processing commission.
- Wire Transfer: This is a traditional and secure way to transfer money directly from your bank account to your trading account. It might take a bit longer compared to the other methods, but it’s a solid choice if you prefer direct bank transfers.
So, we’ve taken a good look at FXMeridian, and it’s clear they’ve got some interesting features, especially their copy trading platform that lets you mimic the moves of successful traders. This could be a game-changer for your trading strategy, giving you the chance to leverage the experience of top performers.
However, it’s worth noting that while FXMeridian offers strong features, there are other brokers with longer track records that might be worth considering as alternative options. For additional choices, we encourage you to explore our trading brokers reviews.