CARFIS has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services|Regula...". CARFIS found at https://carfis.org, CRFIS.com and CA-RFIS.com is not registered in Ontario to engage in the business of trading in securities. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
CARFIS advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Instant funding|Excellent charting|Low minimum deposit|Easy to use platform
Cons: Desktop app not available on Linux|Inactivity fee applies after 12 months
After doing some research AFTER the fact (I know, I should have done this first), I discovered that CARFIS is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
What really bothers me about CARFIS is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them through a forum discussion and I fell for the polished exterior. Never again.
Pros: Dividend tracking|Intuitive for beginners|Easy to use platform
Cons: Search feature is basic
I requested my data from CARFIS under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Real-time alerts|Regular updates|Segregated accounts
Cons: Some tools only available on higher tiers