COMPARATOR / AX-05 / AP-FS-01
Meridian
COMPARATOR FILE
The slowest onboarding and settlement profile in the panel, with two incomplete sequences.
Comparator · AX-05
ACCESSEEA retail accounts · EUR pairs
PAIRBTC/EUR · €2,000 per sequence
01 / STUDY IDENTITY
Who was measured, and on what route.
Identity details are recorded for replicability. They are not a solvency opinion, a product endorsement or a statement about every customer’s experience.
- Legal or operating entity
- Meridian Crypto Ltd
- Jurisdiction
- United Kingdom · EU access via affiliate
- Registration or authorisation
- UK-registered cryptoasset firm; EU access through an affiliate
- Account access tested
- EEA retail accounts · EUR pairs
- Traded pair
- BTC/EUR
- Withdrawal route
- SEPA Credit Transfer
- Fee model at the tested tier
- 0.14% maker / 0.24% taker at the tested tier; €3.00 SEPA withdrawal
- Post-trade statement
- Fee line present; execution timestamp absent on the summary
02 / ENDPOINTS
Six measurements, one sequence.
The median is reported with its interquartile range and the number of contributing observations. The rank is within the five-venue panel. For comparators, the final column repeats the paired difference from the study report: Baerx minus this venue.
| Endpoint | Median | IQR | n | Rank | Baerx − Meridian |
|---|---|---|---|---|---|
| Onboardinglower is better | 99.5 min | 92.8 min – 125.5 min | 4 | 05 | −81.5 min[−174.0 min, −68.0 min] · n=4 |
| Round-trip costlower is better | 31.2 bps | 30.5 bps – 32.9 bps | 9 | 05 | −11.1 bps[−11.9 bps, −10.6 bps] · n=9 |
| Fill latencylower is better | 292 ms | 276 ms – 311 ms | 9 | 05 | −124 ms[−128 ms, −113 ms] · n=9 |
| Withdrawallower is better | 162.0 min | 136.0 min – 184.8 min | 8 (+1 censored) | 05 | −148.5 min[−178.0 min, −109.0 min] · n=8 |
| Supportlower is better | 428.0 min | 387.5 min – 477.0 min | 10 | 05 | −375.5 min[−436.5 min, −322.0 min] · n=10 |
| Statementhigher is better | 6.10 / 10 | 5.90 / 10 – 6.50 / 10 | 9 | 05 | +3.30[+2.90, +3.70] · n=9 |
A censored case is excluded from the median but retained in the completion count. An interval crossing zero is compatible with no difference at this sample size.
03 / FINDINGS
What the record shows.
Median time to an onboarding decision was 99.5 minutes, including one participant who stopped after a second document request at 190 minutes.
Median round-trip cost was 31.2 bps; median submit-to-fill latency was 292 ms.
Median withdrawal settlement among completed cases was 162 minutes; one withdrawal remained pending at the 24-hour censor.
Median support first response was 428 minutes; median statement completeness was 6.1 out of 10. Eight of ten sequences completed.
04 / BOUNDARIES
Where the file stops.
Two incomplete sequences do not establish a failure rate; they are reported as observed outcomes.
The venue's UK registration was not treated as evidence of EU customer protection.
The study did not test the affiliate's onboarding route separately from the main application.
05 / PARTICIPANT VOICES
What the panel said about Meridian.
Collected in the post-task debrief, translated where necessary, and checked by the participant. Length edited; sentiment not edited.
Meridian's withdrawal was still processing the next day. The money arrived on the second day, but the status page never changed.
The onboarding queue at Meridian passed three hours, and then it asked for another document. I stopped there.
06 / NEXT
Compare the file with the other four.
The venue files are written from the same observation table. No file adjusts another venue’s numbers, and no file adds a score that the study report does not publish.