CynavaTrade has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I am in a dispute with CynavaTrade 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: Tax reports included|Good analytical tools|Regular platform improvements|Social trading features
Cons: Spreads widen during volatile periods|No phone support on weekends
Several red flags with CynavaTrade: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database
The platform itself is okay, but the customer service at CynavaTrade 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: Real-time alerts|Smooth onboarding|Tax reports included
Cons: Onboarding videos are outdated|No live chat on mobile
CynavaTrade has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Easy withdrawals|Full transparency|Easy to use platform
Cons: Research section could be deeper|Account statements could be more detailed
I invested $25,000 with CynavaTrade after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Conduct Authority.
Pros: Initially responsive customer service
Cons: No regulatory oversight|Money disappeared|Fake testimonials
KYC with CynavaTrade 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: Multi-device support|Helpful community forum|Educational resources|Excellent charting
Cons: No live chat on mobile
I found CynavaTrade based on a colleague's recommendation and the initial impression was positive. But for the past year and a half later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: API access|Dividend tracking|Risk management tools
Cons: No phone support on weekends|Account statements could be more detailed
My withdrawal from CynavaTrade was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for just over a year of being strung along.
Pros: Social trading features|Regular updates|Demo account available|Full transparency
Cons: Limited ETF selection
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Pros: Information is publicly available for verification
Cons: Appears in regulatory warnings database|Uncertain regulatory status
Do not believe the bonus offer from CynavaTrade. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited through word of mouth in my investment club and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Transparent fees|Professional team
Cons: Alert system is basic|Would like more payment methods