Chicago Tax Services has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: 1-312-324 6660, Fax: 1-312-276-8884
Addresses: 6110 W. Belmont Avenue Chicago Illinios 60634 USA This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.chicagotaxservices.com.
I gave Chicago Tax Services a fair chance. After for about five months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: High security standards|Stable platform
Cons: Currency conversion fee exists
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Chicago Tax Services recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Full transparency|Stable platform
Cons: Email notifications too frequent|No fractional shares
I had a dispute with Chicago Tax Services and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Intuitive for beginners|Customizable dashboard
Cons: Limited ETF selection
The so-called education at Chicago Tax Services 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 about ten months thinking they would help me learn.
Pros: Reliable uptime|Customizable dashboard
Cons: Alert system is basic
The only good thing about Chicago Tax Services is that they remind you why regulation matters. I found them after comparing multiple platforms. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Responsive team|Regular updates
Cons: No live chat on mobile|Research section could be deeper
I am in a dispute with Chicago Tax Services 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: Wide product range|Segregated accounts
Cons: None so far
Chicago Tax Services locked my account without warning and demanded documents I had already submitted. for over three years later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: High security standards|Market news feed|Great customer service
Cons: None so far|Spreads widen during volatile periods
Do not believe the bonus offer from Chicago Tax Services. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after a family member had a good experience and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Dividend tracking|Demo account available
Cons: Limited ETF selection
KYC with Chicago Tax Services is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Low minimum deposit|High security standards|Clean UI|Dedicated account manager
Cons: None so far|Nothing significant
I requested my data from Chicago Tax Services 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: High security standards|Competitive fees|Stable platform
Cons: Limited social trading features