Trading cryptocurrencies has become a trend today, and due to their high volatility, one can make significant profits on digital assets. Scam brokers have taken full advantage of this, aggressively promoting their crypto trading services. In our Mercury Fintech review, we shed light on one such company that promises miracles on the homepage of its website. However, we understand well that the main act of these magicians is the disappearance of the user’s money. If you want to avoid becoming a victim of fraud, carefully read the materials we’ve published below.
Key Features
- Company Name: Mercury Fintech
- Website: https://mercury-fintech.com/
- Available Contacts: [email protected]
- Foundation: 2024
- Services: Forex/CFD trading
- License: None
- Initial Deposit: $2,500
From Sign-Up to Payout
The official Mercury Fintech website is full of surprises. On the homepage, the broker aggressively advertises its services, claiming to provide clients access to cryptocurrency markets. However, it does so at the expense of everything else, neglecting to introduce traders to the company, describe available markets and assets (beyond crypto), or explain trading terms.
Such issues are common on scam platforms, but the company in question today manages to stand out negatively even among them. There are major issues with both the website’s content and functionality:
- The “About Us” page is an exact duplicate of the homepage. Needless to say, it contains no actual information about the company.
- The “Documents” page offers no Terms & Conditions, Privacy Policy, or other documents that would regulate the relationship between the trader and the broker. Instead, it only describes what is required for verification. The basis for this requirement is unclear, as neither KYC nor AML policies are present on the site. As a result, no formal agreement is made between the company and the user. All actions taken by the user, including depositing funds, are done voluntarily and at their own risk. Consequently, there’s no legal ground to demand a refund.
- Users cannot create an account on their own because the website lacks a registration form. All links that supposedly lead to the new client registration redirect to the login page. Apparently, accounts can only be opened with assistance from customer support specialists. This is a typical scam tactic, where access to an account, trading platform, and personal cabinet is granted only to those who are ready to deposit funds into newly opened accounts.
From the very first interaction with the Mercury Fintech website, it’s clear that this “creation” is the work of individuals unfamiliar with the workings of Forex/CFD brokers or the interests of their clients. Yet, they aim to take users’ money, which makes them either amateurs or, more likely, fraudsters.
Our Trading Experience With Mercury Fintech
The broker provides no information about its trading platform on its website. Apparently, it considers this critically important detail something to hide, just like the company’s details. We don’t fully understand the reasoning behind this, as the more precise the terminal description, the fewer questions a potential client has when choosing a trading firm.
With most trading platforms, users can at least explore the terminal after registration, but Mercury Fintech doesn’t even offer that opportunity. As we’ve mentioned, there is no registration form on the site. An email inquiry to their support team was also left unanswered, so we couldn’t determine which terminal this broker uses.
All we could do was analyze the trading conditions offered by the company. Mercury Fintech offers seven account types for prospective clients:
- Main with a deposit of $2,500.
- Islamic with a deposit of $10,000.
- Bronze with a deposit of $10,000.
- Silver with a deposit of $25,000.
- Gold with a deposit of $100,000.
- Platinum with a deposit of $250,000.
- VIP with a deposit of $1,000,000.
For each of these accounts, the only disclosed details are the standard lot sizes for available markets and the minimum and maximum trade volumes. Mercury Fintech does not provide any other information. It seems the company’s internal policy dictates concealing crucial details. Otherwise, it’s hard to understand why traders are not informed about maximum leverage, spreads, swaps, commissions, etc. This approach forces traders to discover trade parameters during transactions, inevitably leading to losses — a likely outcome intentionally designed by the company.
The Reality Check
We are confident that most traders, upon failing to receive critical information about trading conditions, will avoid working with Mercury Fintech. However, there will still be some — usually beginners in trading — who believe the company’s promises. To prevent these users from taking rash steps (like depositing funds or attempting to trade on this platform), let’s highlight just how “legally” this broker operates.
To begin with, let’s discuss the firm’s registration. The website does not mention the jurisdiction in which the company is registered, when it was established, or under which license it operates. According to Open Corporates, the only company named Mercury Fintech PTY LTD is registered in Australia.
It is listed in the registry of the local financial regulator ASIC and has been operating since March 2021. We believe this name coincidence is no accident, especially considering there are no other companies with a similar name globally. Most likely, the project owners deliberately tried to pass themselves off as the real Australian firm. However, to their great misfortune, this company does not hold an AFSL license, which is mandatory for providing brokerage services.
The conclusion is straightforward:
- The platform has no affiliation with the Australian company of the same name and is not registered anywhere.
- The pseudo-company lacks a brokerage license, and its services are therefore illegal.
These two facts clearly indicate that Mercury Fintech is incapable of organizing trading operations. It lacks agreements with liquidity providers and electronic systems that supply quotations. It also cannot open corporate bank accounts, accept payments in its name, or store client funds in segregated accounts.
In essence, what we see is a classic scam broker that does not even establish agreements with clients. There is no doubt that all funds sent to accounts opened on this platform will end up in the fraudsters’ pockets.
How Long Has Mercury Fintech Been in the Game?
As we have already noted, there is no information about when the broker was established. However, since it exists only as a website, we can use the Whois service to determine the domain registration date.
As shown, the domain mercury-fntech.com was registered only on October 1, 2024. This further confirms that the real Australian company, which has been operating since 2021, has no connection to the platform we are discussing.
At the time of writing this review, the pseudo-company has existed for approximately three months. This is too short a period to build recognition in the trading community. However, it is more than enough time to address the issues on its website that we mentioned earlier. This suggests that these shortcomings are not accidental but rather deliberate actions by the fake broker. Can it be trusted?
Extra Fraud Indicators
Three months is a very short time for a Forex/CFD broker. However, as practice shows, the company has been making the most of this time. Within this brief period, the firm has commissioned and paid for a significant number of positive Mercury Fintech reviews.
For example, there are 69 reviews on Trustpilot, with 93% of authors giving high ratings. We found some of these comments particularly amusing. Most of them praise the “professionalism” of the support team, which can only be contacted via a feedback form or email, with responses taking over three days. The positive posts also commend the “low entry threshold” (despite the minimum deposit being $2,500) and the “attractive trading conditions,” about which the website provides no information.
There are also other publications on various websites expressing positive opinions about this pseudo-company. As with reviews, the paid nature of these posts is obvious.
On trading-specific platforms, experts demonstrate a different attitude toward the pseudo-firm. They point out the lack of registration and licensing, the opacity of operations, and the unsafe practices. The conclusion is unanimous: this broker is a scam, and working with it is not recommended.
Is Mercury Fintech the Right Fit?
Are you prepared to work with a company that is not registered anywhere, uses someone else’s name to appear legitimate, and does not even have offshore licenses? Would you agree to send money to its accounts without signing a client agreement? Do you trust paid publications online that praise things that do not exist? If so, then you can invest your money not only in this company, but also in another scam, such as AtlasLC review.
All these shortcomings of yet another scam broker are exposed in our Mercury Fintech review. We believe traders will have no doubts that working with these fraudsters is unsafe and carries a high risk of losing funds.
I no longer have any hope of recovering the funds I sent to Mercury Fintech as a deposit. These scammers even told me over the phone that they take no responsibility for technical issues on the platform. Naturally, these issues happened soon after, and after one such incident, I saw a zero balance in my account… I just didn’t understand how people could be treated this way, which is why I invested. Now I regret it.
Don’t delude yourself into thinking that Mercury Fintech will pay out any money. This company only cares about enriching itself at the expense of its clients. As soon as you stop investing money, the scammers immediately block your account and cut off all contact. They’ve been ignoring me for three weeks now.