Boomerang (boomerang.trade and boomerang.dev) has been flagged by ASIC (Australia) for "Unlicensed". Related alerts: https://moneysmart.gov.au/check-and-report-scams/investor-alert-list#!hyperverse-hyperverse-com--1665 and https://moneysmart.gov.au/check-and-report-scams/investor-alert-list#!weareallsatoshi-weareallsatoshi-org--1683. Other regulator warnings: FMA https://www.fma.govt.nz/library/... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: boomerang.trade.
The platform itself is okay, but the customer service at Boomerang (boomerang.trade and boomerang.dev) is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Multi-device support|Automated trading options|Great customer service|Competitive fees
Cons: No integrated tax optimization
I am in a dispute with Boomerang (boomerang.trade and boomerang.dev) 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: Social trading features|Automated trading options
Cons: Alert system is basic|Charting tools need more indicators
I wanted to transfer my portfolio from another broker to Boomerang (boomerang.trade and boomerang.dev). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Portfolio tracking tools|Fast support response|Smooth onboarding
Cons: No dark mode on mobile|Wish they had more educational resources
The so-called education at Boomerang (boomerang.trade and boomerang.dev) is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for the past year and a half thinking they would help me learn.
Pros: Economic calendar|Dedicated account manager|Full transparency
Cons: Website design could be more modern|No crypto staking
I signed up with Boomerang (boomerang.trade and boomerang.dev) based on a colleague's recommendation and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Multiple order types|Easy withdrawals
Cons: Alert system is basic