Meridian Trade Bank Quick reference
It is Universal Bank of Latvia, opened in 1999. It grew up from the local branch of Vnesheconombank of the USSR. It offers its customers services as a broker.
The broker works with:
- shares and options for them;
- ETF's exchange-traded funds.
It provides an access to more than 40 stock exchanges.
How can you become its client?
- As in all banks of Baltic states with brokerage services, you will need to open a transaction account.
- You will need to sign an agreement on brokerage services.
- You will need to open an account for financial instruments that will be tied to the main account .
For customers with a residence permit in the European Union, the bank has developed a “Guest kit” with a lot of useful features. Non-residents without it will have to come to the office in Latvia or Lithuania, and the conditions for them are harsher. For example, when working with futures contracts and options, the exchange commission is covered by the trader. There are fewer free services for non-residents and tariffs are higher.
Advantages and disadvantages
- all the activities are carried out in a legal field;
- you can work with all financial instruments through a single trading account;
- flexible tariff policy to optimize costs;
- the ability to order brokerage services by phone;
- provision of operational analytical data.
It is a good choice for those who receive a residence permit in Latvia. Special conditions and even consultations on the migration legislation of the country are provided for such clients. Non-citizens without a residence permit, comparing the service and prices, will feel like second-class customers.
Among other inconveniencies:
- the need for a personal trip to a branch in Latvia or key cities of Lithuania;
- deposit and withdrawal can be possible only through the account in MTB;
- Russian-language version of the site is shortened and uninformative;
- There are problems with the prompt receipt of technical support in Russian.
Despite the range of restrictions and inconveniencies, brokerage activities of the bank leave a favorable impression