Mercato Brokers claims a premium multi-asset brokerage firm while presenting neither details about its regulations nor legal documents (terms & conditions, risk disclosure and privacy policy, etc.). Lacking such important information may be a distinct characteristic of unlicensed brokers, as legit brokers always present their accreditation and licenses in a prominent position. It is a red flag here.

Besides, Mercato Brokers shows its company is in Iraq. But as per the information we hold, Iraq currently has no regulatory authority that issues licenses for forex trading or regulates entities engaging in forex. The truth is, Mercato Brokers is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.