Impersonation of Mercer (Australia) Pty Ltd has been flagged by ASIC (Australia) for "Imposter". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: app-mercer.com.
I had high hopes for Impersonation of Mercer (Australia) Pty Ltd after a friend recommended them, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Regular platform improvements|Segregated accounts
Cons: Live chat only during business hours
Do not be fooled by the professional-looking website. Behind the scenes, Impersonation of Mercer (Australia) Pty Ltd is disorganized and incompetent. I found them after a friend recommended them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Competitive fees|Regular platform improvements
Cons: No fractional shares
KYC with Impersonation of Mercer (Australia) Pty Ltd is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Regular updates|High security standards
Cons: Limited demo account features
Do not use Impersonation of Mercer (Australia) Pty Ltd for anything serious. I used them for a couple of months now for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Regular updates|High security standards|Smooth onboarding
Cons: Some tools only available on higher tiers
The platform at Impersonation of Mercer (Australia) Pty Ltd is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for about eight months of dealing with this, I have had enough.
Pros: Wide product range|Smooth onboarding|Detailed reporting|Good analytical tools
Cons: Minimum deposit could be lower