WikiFX Review: Is XAU Merlion trustworthy?

XAU Merlion has headquarters in Cambodia, Phnom Penh, and is an online forex broker offering a series of financial instruments to its clients. WikiFX has made a comprehensive review of this broker by analyzing its regulations, specific information, etc. so that you have a deep understanding of this broker. In the back of the article we arranged a few small questions, each answer to the chance to win a bonus.

About XAU Merlion

XAU Merlion has its headquarters in Phnom Penh, Cambodia. XAU Merlion, also called XAU Merlion Financial, claims to provide clients with an enriching and versatile forex trading experience. The physical address of this broker is Diamond Twin Tower, 22nd Floor Building Sopheak Mongkol Rd, Koh Pich, Phnom Penh, Cambodia. WikiFX has given this broker a low rating. But why？

Website lacking information

The website of this broker looks well-designed. However, there is a lot of information missing on its website, such as leverage ratio, account types, and so on.

Regulation: Is XAU Merlion legit？

According to XAU Merlions website, this broker is regulated by the Securities and Exchange Commission of Cambodia (SECC). SECC regulates the securities industry in Cambodia to contribute to socio-economic development through capital mobilization from public/ securities investors to meet the demand for financing for investors.

(source: XAU Merlion)

However, according to WikiFX, this broker is not a regulated broker. The current status of SERC with license number 15 is “Exceeded”. Please be aware of the potential risk.

Trading Platform

This broker uses MT4 as its main trading platform. The MT4 is currently the most popular forex trading platform along with the MT5 on the market. With a user-friendly interface, powerful charting tools, and a large number of custom indicators, MT4 is available for automated trading and EA trading, helping traders of all levels to develop different trading strategies and help traders to get ahead in the financial markets.

Conclusion

WikiFX does not advise traders to invest in an unregulated broker with a low WikiFX score as this type of broker is very likely to take your money away fraudulently. XAU Merlion does not offer us enough information to prove its reliability. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX APP for free through this link below (https://www.wikifx.com/en/download.html).

Questions

• What is the WikiFX score of XAU Merlion？
• WikiFX rates brokers based on five dimensions in this article: license, regulation, business, Risk Control, and software. Do you know what score WikiFX gave XAU Merlion regarding Risk Control？

Additional

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