Deeply rooted in the online trading industry, 2Mercados is a leading forex and CFDs broker that has made its name in this space because of its transparency, tight spreads, diverse payment methods, and reliable customer service, to mention but a few attributes. To set it apart from the multitude of online forex brokers, the company offers its traders a welcome bonus as high as 40% and leverage as high as 1:400. With such attractive features and services, it is hard not to notice such a broker whose 20 years of experience in the financial markets build credibility as to its already existing offers and services.To assist all traders in partnering with a reliable and reputable broker when stepping into the trading arena, our team of experts tested some of the most crucial services of this broker. This 2Mercados review is an honest and unbiased report of the facts and findings that our team of experts arrived while testing out this top broker. So, let’s examine if 2Mercados is the right broker for you.
2Mercados Broker Review – Know the Facts, Trade with Confidence
In order to be able to come up with factual findings, our team of experts openeda live trading account with 2Mercados. We deposited funds into the account, verified our information, and tested out the different services offered by this broker, including the platform, banking options and customer care.Based on this, this review takes into consideration factual attributes from this broker plus it includes input from other real user reviews in order to achieve a fair opinion.
What Makes 2Mercados Unique?
2Mercados has many enticing elements that set it apart from the rest of the brokers in the industry. To begin, the bonuses offered by 2Mercados are not a match to what its rivals offer. Starting with a 10% welcome bonus, all the way to a 40% welcome bonus, without stringent turnover requirements, is only offered by a few brokers in this space – and 2Mercados is a worth credit on this. The recent market regulations across European nations on brokers with regards to bonuses places 2Mercados as one of the few brokers still offering a reliable and transparent bonus program.
2Mercados is also exceptional in its diverse account offering to its clients. With VIP benefits of trading leverage of 1:400, this broker has truly achieved the mark of excellence. Still, for the Basic account and the Gold account, these accounts have leverage as high as 1:100 and 1:200 respectively. This is truly exceptional considering some brokers are only offering a maximum leverage of 1:30.
In addition, 2Mercados charges reasonable spreads. Its competitive spreads, which are a mix of fixed and floating spreads, make cheaper for traders who enter buy and sell trade in the financial markets. The spreads start from as low as 0 since 2Mercados is an ECN broker and with reference to the commissions, these are reasonably charged and match what competitors charge, and in some cases, even lower.
2Mercados Experience Test
To arrive at this honest 2Mercados review, we had to test out some of the features of this broker. In order to build confidence, a real account was opened with the broker, and the inputs from this review are derived from our firsthand experience with 2Mercados.
To begin with, we evaluated the account opening process. To be sincere, we didn’t experience any challenges. The process was straightforward and the information that was requested was easy to provide to the broker.
We also assessed the convenience of the payment methods and tried out depositing funds into our trading account. The payment options were diverse offering us a chance to choose between different payments formats. The deposit processing time was as stated in the terms and conditions page. The withdrawal process was also without any challenges. We followed what the broker required from us, such as verifying our account and immediately once the account was verified, the withdrawal was processed and the funds were returned to us.
The customer service was also of interest to us as it is an important metric to gauge the reliability of a forex and CFD broker. The customer service representatives were very professional in their engagement with our team of experts. On the launch of the live chat, one of the broker’s representatives was readily available. Similar to the telephone support and email, our queries were responded to in less than 15 minutes, a record some brokers will rarely achieve. Keen to note was the willingness to have our matters resolved in the shortest time was clearly evident of this broker’s customer support team. Despite our back and forth engagements, the customer support team always went out of their way to assist us, and they were always helpful and professional.
Whereas there is much more you can test to assess how a broker fairs, from our preliminary evaluation, this broker scored high marks and it is evident that they put customer service first.
Is 2Mercados Scam or Legit?
The online trading industry at the moment is filled with many brokers; some are legit while others are a scam. Unfortunately, there is a thin line between who are the legit brokers to those who are scams. That’s where we come in handy. Our industry experts conduct a live trading test on each broker, test their products, ask the hard questions, and give their recommendations. Luckily, 2Mercados passed the test, and our experts outlined the following reasons as to why you should consider this online forex broker as legit and reliable.
2Mercados operates a transparent fee policy. For instance, their spreads are publicly listed on its website. Also, traders get to see these prices from the trading terminal. Other fees, such as withdrawal fees, are also stated in the terms and conditions page. Besides these two charges, the company doesn’t have any hidden charges, such as account dormancy fee. On the other hand, scam brokers will take every measure to hide the fees it charges traders; they will also come up with other hidden charges which they will disclose to traders only once they have made a deposit with the broker.
Legit brokers have their business licensed by a government body. This is the case with 2Mercados as it a licensed entity by the government of St. Vincent and the Grenadines. This means it operates within the confinement of the laws of that jurisdiction. As such, the company’s directors are liable in case of any misappropriation or other unlawful acts. Based on this, the company serves the traders with the best interest.
Another measure you can use to assess whether a company is legit or not is from their level of customer service. Most of the scam businesses will offer poor customer service as they will try to avert any contact with customers. 2Mercados has a reliable customer service team available through a number of options, making it easy to reach out for help in case of any challenge.
The company has invested heavily in its IT infrastructure, and as such, the last thing the company would want is to have a site which is offline or prone to attack. As a result, it employs high levels of security on its platforms. The company goes further by conducting a KYC (Know Your Customer) procedure in order to ensure the transparency of the traders using the broker’s site and utilizing its resources.
From the above assessment, there is much credibility to assert that 2Mercados is a legit broker.
2Mercados Regulation and Safety of Funds
2Mercados undertakes measures to keep its site safe and traders’ money secure. The company has deployed a team of cybersecurity experts who watch over their network, website, and its overall IT infrastructure against attacks or downtime. The company uses advanced firewalls to prevent an attack on its internal network. Also, the company uses a secure connection on its website to prevent any information loss, such as credit card data and other personal information.
The company also focuses on the security of its traders’ funds. 2Mercados holds its traders’ money in different accounts, separate from its operating funds. As a result, the company is able to protect itself from conflict of interest, and other audit queries that arise due to the holding of customer funds.
Opening an account with 2Mercados gives traders the peace of mind that their funds are secure and they are operating in a secure trading environment.
2Mercados has four account types which traders can choose from when they sign up with this broker. The accounts differ based on the amount a trader deposits, but you are assured there is standard and quality service when it comes to customer service and other important elements.
The account types available at 2Mercados are as follows:
This is the most basic account type. Traders with this account type can enjoy being part of a trading community, and have access to a weekly analyst session, as well as trade with leverage as high as 1:100. To join this account, you will be required to deposit USD 2,500 and thereafter, you will be entitled to a 10% welcome bonus.
To obtain access to the Gold account, you will be required to make an initial deposit of USD 10,000. You will be then be treated to a 20% welcome bonus and an opportunity to trade with leverage as high as 1:200. Other benefits include being part of a trading community and bi-weekly analyst trading sessions.
The platinum account requires traders to deposit at least USD 25,000 to open an account which is accompanied by a deposit match bonus offer of 30% the deposit amount. The benefits of having this account include trading with 1:300 leverage, access to a full educational package, telegram VIP channel, three weekly analyst sessions, and being part of a trading community.
The Black account is the most premium account available at 2Mercados, and without a doubt, it offers many benefits to the account holders. Traders enjoy trading from leverages as high as 1:400, have exclusive access to a telegram VIP channel and a dedicated private analyst, a 40% welcome bonus, and operations room membership. There are other secondary benefits that come with this account, such as access to a full educational package, and a dedicated account manager. To qualify for this account type, traders need to make a minimum deposit of USD 100,000.
2Mercados Trading Conditions
2Mercados offers access to two trading platforms so traders can access a choice of trading instruments ranging from CFDs, forex, stocks, cryptocurrencies, indices, and commodities. Volatile assets, such as cryptocurrencies, are traded with a maximum leverage of 1:20, while ordinary financial assets, such as stocks and currencies, are traded with a maximum leverage of 1:30. For assets that have fixed spread prices, they are filled on market execution mode, implying that prices are filled on spot price, while assets with floating spreads are fulfilled on instant execution mode. The prices on the platforms are reflective of the GMT- 4-time zone, which is also the time zone the swap is applied on the account.
Fees and Spreads
The company has a transparent fees policy. This means that the company’s fees and spreads and disclosed publicly. With regards to trading, the company doesn’t charge any fees to traders except the difference between the bid and ask prices – spread and commission for some of the pairs. The spread is competitive and reflective of what 2Mercados competitors offer. Similarly, the commission is tight and only applicable to certain assets.
Account Opening Experience
Opening an account with 2Mercados is a straightforward process. To successfully open a 2Mercados trading account, follow the steps below.
- Visit the 2Mercados website and from the homepage, click on Open an Account
- Fill in the personal details requested such as full name, email, address, contact telephone number and password
- Click on Register
- You will be redirected to a trader’s dashboard
- Choose a deposit method and fund your account
- Your account will be ready for live trading.
The whole account opening process takes less than 5 minutes, and you will be ready for live trading as soon as your deposit reflects in your account.
Deposits and Withdrawals
2Mercados provides traders with a wide range of globally-recognized banking options. The payment options are secure and involve diverse options from e-wallets, credit and debit cards, to internet banking and prepaid cards. Below is a list of the banking options that traders can use to deposit and withdraw money to their 2Mercados trading account.
- Yandex Money
- MasterCard / Visa
- American Express
- Wire Transfer
- Sofort Banking
The payment processing time across these payment methods varies. EWallets have the fastest processing speeds, whereas banking options, such as wire transfer, may take up to 10 days for the money to reflect in bank accounts. Deposits are processed without a fee, but withdrawals attract a negligible processing fee.
2Mercados operates a closed-loop banking system implying that withdrawals are processed through the same payment method that was used for deposit. However, when a certain threshold is achieved, money is diverted to a trader’s bank account. This measure is in compliance with anti-money laundering (AML) policies that 2Mercados has put in place to secure its systems from abuse and fraud.
In a bid to ensure that customers operate in a safe and secure environment, 2Mercados requires traders to verify their accounts. This exercise is also a requirement by its regulators. In addition, 2Mercados also follows a Know Your Customer (KYC) process to ensure that they are now dealing with underage traders or profiled characters, such as directors of public companies. Documents required for the KYC process are as follows.
- Copy of ID or Passport – the document needs to have a signature and must reflect the full name and photo of the traders.
- Image of the Credit Card – If you made a deposit using a credit card, you need to provide the broker with a copy of this card. You should only disclose the first and last four digits of the card number and the signature at the back of the card.
- A Copy of Utility Bill dated no more than three months – the bill should bear your name and address and this must match the information provided when creating your trading account.
2Mercados Trading Platform
It is almost impossible to separate online financial trading from MetaTrader platforms. This is because the MetaTrader platforms have, for years, proven to be a top choice for professional traders, beginners and experienced traders alike. MetaTrader platforms – MT4 to be specific, hasn’t been a revered brand out of sheer luck; the platform has, over the years, been designed to meet the expectations of global traders. The platform is also preferred by lots of brokers because of its steady uptime, compatibility, among many other attractive features.
The 2Mercados MT4 has nine times frames, over 30 charting tools, and 51 technical indicators. This makes charting on the platform easy, making it a preferred platform by many technical analysts and traders. Besides this, the 2Mercados platform also offers traders a convenient platform to test out their strategies and backtest data. The platform is easily configurable and traders can install expert advisors (EAs) and unlimited trading signals. The 2Mercados trading platform is available in 37 different languages making it versatile and usable by traders from different regions. It has a real-time news feed portal integrated on the platform and you can reliably trade the market if you are a news trader. The 2Mercados platform is easy to use thanks to its user-friendly interface, an array of shortcuts, and menus for easy navigation. There is also an inbuilt guide that will help you to understand how the platform works.
The 2Mercados platform is conveniently available across a number of different channels. Traders can trade from the desktop-client, mobile app, or the web browser (WebTrader). On any of these platforms, traders can place trades, monitor trades, stop positions, and much more. Furthermore, on the desktop-client and web browser versions, traders can also pull a report of their trading performance. Overall, the 2Mercados platforms are built for traders who are serious about making money in the financial markets.
Education and Resources
2Mercados has an array of educational materials geared towards novice and experienced traders. The educational materials come in different formats; from video-on-demand tutorials, eBooks, to a detailed glossary and educational guides. To keep track of your reading, there is a progress bar on the top section of these materials. The video tutorials cover basic topics such as indicators, MT4, and signals, to advanced topics such as trading strategies, social trading and much more. Similar to videos, eBooks covers topics on CFDs, forex, and stocks, but in written format.
Besides education materials, there are other aide tools such as a news section, an economic calendar, seminars, and webinars. The news section is broad and covers macroeconomic news from different countries. The site allows traders to filter news per country to make market analysis simpler. The economic calendar offers a similar approach and traders can filter scheduled and past macroeconomic news by country, by date, or by impact level. The 2Mercados academy and the aides are available in English, Spanish, German, and Italian.
From time to time, 2Mercados conducts seminars in different cities. Also, if you are unable to attend the physical meet-ups, you can also join their educative webinars which are conducted by experienced financial markets experts.
2Mercados offers its customers numerous contact options through which you can reach out for help in case you experience a challenge. To reach out to the customer support, you can use any of the following options:
- Email Support
- Online fill out form
- Live Chat
The customer support representatives are very professional in their engagement with clients. Furthermore, customer support representatives are well trained in the financial markets industry, which makes THE problem resolution time short. The customer support is available 24/5 on telephone and email, while the live chat is available on a 24/7 basis.
Frequently Asked Questions (FAQs)
Is 2Mercados Regulated?
Yes, 2Mercados is a licensed entity operating under the jurisdiction laws of St. Vincent and the Grenadines.
What is 2Mercados?
2Mercados is a leading forex and CFDs trading brokerage company offering a wide range of financial instruments for traders to trade. The broker charges a spread as its fee and it offers a wide range of effective features and services.
Who has Experience with 2Mercados?
This broker serves the global forex and CFD trading community. Other interested parties that may benefit from its services include financial institutions, investors, and options traders.
How does 2Mercados Work?
2Mercados provides traders with a platform for them to buy or sell financial instruments online. To be able to remain afloat in the business, the company charges traders a fee which is derived from the difference between the ask price and the bid price of assets. The fee is relatively small, though it varies from asset to asset.
How Reputable is 2Mercados?
2Mercados have been in operation for over 20 years. The company is reputable for its transparency and reliability. Over the years, the company has won the hearts of many traders and has become a force to be reckoned with in the online trading realm.
How do I Open an Account with 2Mercados?
To open an account with 2Mercados, follow the steps below.
- Head over to the 2Mercados homepage of their website
- Click on open an account
- Fill in the registration details and provide the required information
- Make a deposit using one of the secure options provided
- Begin trading with a live 2Mercados trading account
Where is 2Mercados Based?
2Mercados is based at St. Vincent and the Grenadines.
Overall Rating: 8/10
Dov is a Blockchain and Forex trading enthusiast, who spends most of his time trading and examining software who are related to cryptocurrencies and forex trading. You can follow on Dov’s reviews and articles here on CoinRevolution and across the web.