About Meridian Trade Bank
Meridian Trade Bank is a well-established financial institution in Latvia, with origins dating back to 1999 when it was founded as a local branch of the former USSR Foreign Trade Bank. The primary focus of the bank is to offer brokerage services to its clientele.
Areas of Expertise:
- Dealing in bonds,
- Trading stocks and associated options,
- Investing in exchange-traded funds (ETFs).
Meridian Trade Bank provides access to trading on over 40 stock exchanges for its clients.
Becoming a Client:
- Initiate the process by opening a checking account, a standard procedure in all Baltic banks that offer brokerage services.
- Execute a brokerage services agreement.
- Establish an account for financial instruments connected to the primary account.
For clients residing within the European Union, the bank offers a “Guest Kit” with numerous advantageous features. Non-residents without EU residency status should liaise with the bank’s branches in Latvia or Lithuania, where the terms are more stringent. For instance, traders dealing with futures and options are responsible for covering the exchange commission. Non-residents receive fewer complimentary services and face higher tariffs.
Advantages and Disadvantages:
- All transactions are conducted in compliance with relevant legislation,
- Access to a wide array of financial instruments through a single trading account,
- Flexible tariff structure for expense optimization,
- Option to request brokerage services via telephone,
- Timely provision of analytical data.
Meridian Trade Bank is an appealing option for individuals exploring residency in Latvia. Tailored conditions and consultations on the country’s migration laws are available for these customers. Individuals with undetermined citizenship may perceive a disparity in service levels and tariffs.
Additional Considerations:
- Mandatory personal visits to branches in Latvia or major Lithuanian cities,
- Exclusive ability to deposit and withdraw funds through an MTB account only,
- Presence of a limited and somewhat uninformative Russian-language website version,
- Challenges with obtaining prompt Russian-language support.
Final Thoughts
Despite encountering some restrictions and inconveniences, the brokerage services offered by Meridian Trade Bank make a positive impact.
This review has been prepared by the specialists at ExpertsReview.