MergeFX Trade (mergefx.com) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: mergefx.com.
I opened an account with MergeFX Trade (mergefx.com) for about ten months ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Social trading features|Regular platform improvements|Market news feed|Fast execution
Cons: Spreads widen during volatile periods|No phone support on weekends
After for just over a year with MergeFX Trade (mergefx.com), I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: API access|Portfolio tracking tools|Competitive fees|Full transparency
Cons: Nothing significant|Wish they had more educational resources
I experienced a security concern with my MergeFX Trade (mergefx.com) account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Multi-currency support|Quick verification
Cons: Live chat only during business hours|Website design could be more modern
I wanted to transfer my portfolio from another broker to MergeFX Trade (mergefx.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: Risk management tools|High security standards|Great customer service
Cons: Wish they had more educational resources
I closed a profitable position at MergeFX Trade (mergefx.com) and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Good analytical tools|Low minimum deposit|Responsive team|API access
Cons: Limited demo account features|Research section could be deeper
My card was charged twice by MergeFX Trade (mergefx.com) on the same day. I had to dispute it with my bank. MergeFX Trade (mergefx.com) then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Excellent charting|Multi-currency support|No hidden fees|Good mobile app
Cons: No live chat on mobile|Wish they had more educational resources