Aussie Riches (aussieriches.com) has been flagged by ASIC (Australia) for "Unlicensed". Phones: 1800123456
Addresses: 123 Finance Street, Sydney, NSW 2000, Australia This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: aussieriches.com.
After for over three years with Aussie Riches (aussieriches.com) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Fast deposits|Clear documentation
Cons: No integrated tax optimization
Aussie Riches (aussieriches.com) offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Smooth onboarding|Easy withdrawals
Cons: No integrated tax optimization
The reporting at Aussie Riches (aussieriches.com) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Multi-currency support|Fast deposits|Market news feed|Social trading features
Cons: Nothing significant
Do not use Aussie Riches (aussieriches.com) for anything serious. I used them since the beginning of the year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Fast execution|Good analytical tools|Quick verification|Dividend tracking
Cons: Research section could be deeper|Inactivity fee applies after 12 months
The onboarding at Aussie Riches (aussieriches.com) was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: API access|Full transparency|Professional team|Instant funding
Cons: No live chat on mobile
I lost a significant amount because Aussie Riches (aussieriches.com) did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Dedicated account manager|Fast execution
Cons: Email notifications too frequent
The spread at Aussie Riches (aussieriches.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them through a podcast recommendation and initially thought the platform was good - until I started trading seriously.
Pros: Easy withdrawals|Stable platform|Great customer service|Clear documentation
Cons: No integrated tax optimization
I am in a dispute with Aussie Riches (aussieriches.com) over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Fast deposits|Multi-currency support|Social trading features|Market news feed
Cons: Mobile app could be improved|Nothing significant
I closed a profitable position at Aussie Riches (aussieriches.com) and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Customizable dashboard|Great customer service|Multiple order types
Cons: Mobile app could be improved|Wish they had more educational resources