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Xau Merlion Review
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Xau Merlion Review
Xau Merlion is a Cambodia-regulated forex broker promoting itself as a global leading broker offering tight spreads, attractive leverage, and affordable minimum amount requirement.To get more news about xau merlion review, you can visit wikifx.com official website.
However, bear in mind that Cambodia is far laxer in its oversight than heavy-regulated financial hubs such as the UK and EU. And the dangers and disadvantages of trading with such forex brokers often outdo the potential rewards.
Xau Merlion regulation and safety of funds
To begin with, Xau Merlion is operated and owned by Xau Merlion Financial Co. The company has its headquarters in Phnom Penh, Cambodia. Ber in mind that Cambodia’s financial market is developing and was regulated back in 2016. Since then, all licensed entities fall under the regulations of the Security and Exchange Regulator of Cambodia (SERC). The SERC is aimed at regulating the operations of financial institutions such as banks and non-bank financial intermediaries like forex brokers.
Again, keep in mind that the set of regulations applied in Cambodia is far behind the standards set in world financial hubs such as the UK and the EU. Therefore, we see no reasons for anyone based in the UK and EU to trade with unreliable brokers. Even more, several reputable brokers offer their services to Cambodian clients.To give you an idea of why we think that it’s better to trade with globally recognized brokers, we have summed up some of the major requirements that any EU and UK-based broker should follow in order to operate legally. This set of requirements is an effective way to sift out unreliable brokers and keep clients’ funds safe.
Хau Merlion promises trading on the popular MetaTrader4 platform. Therefore, we registered on their platform in an attempt to verify that claim. At first, we were pleasantly surprised that this forex broker offers a demo account option. However, this feature turned out to be more or less useless, as we didn’t get access to their actual trading software.We were hesitant to try opening a Live account with Xau Merlion, as investors are required to submit a lot of sensitive information and personal identification documents in advance. We recommend you never upload personal information or documents on unreliable websites as it may easily turn into your most regretted mistake.
There is a pile of trustworthy forex brokers providing the MetaTrader platforms. Therefore, you don’t have to compromise your security. Just choose a fully-regulated broker to trade with.They require a mimimum deposit of USD 50 to sign up for their services. This amount is acceptable. Most legitimate forex brokers require a minimum of up to USD 200 to sign up with them.
Furthermore, they promise ultra-low spread starting from 0.0 pips. A low spread is always good news to investors. However, it is not a good enough reason to disregard the lack of a legit forex license and risk your money.
As for leverage, Xau Merlion offers attractive leverage of up to 1:100. We understand that the idea that you will be trading with 100 times higher funds than your initial investment may sound like a get-rich-fast opportunity. But keep in mind that leverage restrictions of up to 1:30 are applied in the UK and EU in the effort of regulatory bodies for risk control and customer protection. A good thing is that Xau Merlion claims to protect clients’ accounts with negative balance protection to ensure they never become negative.