WikiFX Review: Is XAU Merlion trustworthy?

About XAU Merlion

XAU Merlion has its headquarters in Cambodia, Phnom Penh. XAU Merlion, also called XAU Merlion Financial, claimed to provide an enriching and versatile forex trading experience for our clients. 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 of 2.40/10. 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. WikiFX contains details of more than 38,000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. 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). Running well in both the Android and IOS systems, the WikiFX APP offers you the easiest and most convenient way to seek the brokers you are curious about.

Click on XAU Merlion' WikiFX page for details