Merco Bank (mercobank.com) has been flagged by ASIC (Australia) for "Unlicensed". Phones: 46764916081, 48573581406
Addresses: pasaz Pierlejewskiego 16 95-069 Aleksandrow Lodzki This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: mercobank.com.
The reporting at Merco Bank (mercobank.com) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: High security standards|API access|Quick verification
Cons: Live chat only during business hours
Merco Bank (mercobank.com) locked my account without warning and demanded documents I had already submitted. for a few weeks now later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Economic calendar|Demo account available|No hidden fees
Cons: Wish they had more educational resources|Account statements could be more detailed
Do not believe the bonus offer from Merco Bank (mercobank.com). The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after a friend recommended them and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Tax reports included|Responsive team|Reliable uptime|Educational resources
Cons: Withdrawal takes 1-2 business days|Desktop app not available on Linux
The spread at Merco Bank (mercobank.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them from a blog post comparing services and initially thought the platform was good - until I started trading seriously.
Pros: Risk management tools|API access
Cons: Limited social trading features|Would like more payment methods
Opened my account with Merco Bank (mercobank.com) after a family member had a good experience and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Social trading features|Intuitive for beginners|Transparent fees|Great customer service
Cons: Inactivity fee applies after 12 months
I have been trying to close my account with Merco Bank (mercobank.com) for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Detailed reporting|Competitive fees|Regular platform improvements|Portfolio tracking tools
Cons: No crypto staking
I had a dispute with Merco Bank (mercobank.com) and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Customizable dashboard|Fast support response
Cons: Could offer more webinars
I trusted Merco Bank (mercobank.com) with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: API access|Good analytical tools
Cons: Minimum deposit could be lower
I requested my data from Merco Bank (mercobank.com) under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Segregated accounts|Stable platform|Economic calendar|Quick verification
Cons: Wish they had more educational resources|Spreads widen during volatile periods
I wanted to transfer my portfolio from another broker to Merco Bank (mercobank.com). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Regular updates|Stable platform|Helpful community forum
Cons: Limited ETF selection