Merry Capital is a forex broker established on December 29, 2023, in Australia. It mainly provides financial trading services in forex, metals, energy, indices, stocks, and cryptocurrencies to investors, with its company headquarters being unknown. This broker does not provide services to jurisdictions where doing so might violate local laws or regulations, including but not limited to Cuba, Sudan, Syria, and North Korea.
Corporate Registration and Regulatory Status:
The Australian registered business entity of Merry Capital is MERRY CAPITAL PTY LIMITED, with the company's registered address at ZETLAND NSW 2017 and the ACN number being 673 903 529. This entity became an authorized representative of STAR FUNDS MANAGEMENT PTY LTD on December 31, 2023, and is regulated by the Australian Securities and Investments Commission (ASIC), with the AFS representative number being 001307386. According to the information obtained from Whois, the domain name of this broker's official website was registered on May 14, 2022.
Account Opening:
During the actual account opening process on the Merry Capital official website, Traderknows discovered that both the account opening and login portals provided by the broker were inaccessible, making it impossible to open an account.
Account Information:
Forex:
- Maximum Leverage: 1:500;
- Minimum Price Movement Unit: 10;
- Contract Size: 100,000 base currency;
- Minimum/Maximum Trade Volume: 0.01/100 lots;
- Maximum Position Size: 1000.
Spot Gold:
- Maximum Leverage: 1:500;
- Minimum Price Movement Unit: 20;
- Contract Size: 100 ounces;
- Minimum/Maximum Trade Volume: 0.01/100 lots.
Spot Silver:
- Maximum Leverage: 1:500;
- Minimum Price Movement Unit: 20;
- Contract Size: 5000 ounces;
- Minimum/Maximum Trade Volume: 0.01/100 lots.
Oil:
- Maximum Leverage: 1:100;
- Minimum Price Movement Unit: 10;
- Contract Size: 1000 barrels;
- Minimum/Maximum Trade Volume: 0.01/100 lots;
- Spread: STP Spread: 3.5, ECN Spread: 1.5.
Natural Gas:
- Maximum Leverage: 1:100;
- Minimum Price Movement Unit: 10;
- Contract Size: 10000 mmBtu;
- Minimum/Maximum Trade Volume: 0.01/100 lots;
- Spread: STP Average Spread: 53, VIP Average Spread: 45, ECN Average Spread: 36.
Indices:
- Maximum Leverage: 1:100;
- Minimum Price Movement Unit: 50;
- Digits: 2;
- Minimum/Maximum Trade Volume: 0.01/100 lots.
Stocks:
- Maximum Leverage: 1:20;
- Minimum Price Movement Unit: 20;
- Digits: 2;
- Minimum/Maximum Trade Volume: 0.01/10 lots.
Cryptocurrencies:
- Maximum Leverage: 1:50;
- Minimum Price Movement Unit: 50;
- Digits: 2;
- Minimum/Maximum Trade Volume: 0.01/10 lots.
Trading Platform:
Merry Capital offers a customized trading platform to its users, but details of this platform are not disclosed on its official website.
Deposits and Withdrawals:
Merry Capital has not disclosed the supported methods of deposit and withdrawal on its official website.
Conclusion:
Traderknows advises investors that Merry Capital only holds an AR license issued by the Australian Securities and Investments Commission (ASIC), which is a weak regulatory authority. As of January 11, 2024, this broker has been in operation for less than a month. Additionally, it is not possible to open an account normally on the broker's official website, and its contact methods are very limited, only available through email and online contact on the official website. Moreover, the broker uses its proprietary trading platform, and the methods of deposit and withdrawal are unknown. Traderknows suggests that investors stay away from Merry Capital and choose brokers that are transparent, strongly regulated, and reputable to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected of fraud" on Traderknows.
