Degen Tradex 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. Website domain: degentradex.com.
I found Degen Tradex through a forum discussion and the initial impression was positive. But since I opened my account last year 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: Portfolio tracking tools|Multi-device support|Risk management tools|Reliable uptime
Cons: Limited demo account features
My withdrawal request from Degen Tradex has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Multi-currency support|Intuitive for beginners|Excellent charting
Cons: Search feature is basic|No dark mode on mobile
The platform at Degen Tradex is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for roughly four months of dealing with this, I have had enough.
Pros: Good analytical tools|Multiple order types
Cons: Website design could be more modern
I am in a dispute with Degen Tradex 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: Two-factor authentication|Transparent fees
Cons: Limited cryptocurrency options|Limited ETF selection
Do not believe the bonus offer from Degen Tradex. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after comparing multiple platforms and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Multi-currency support|Good mobile app|Professional team|Copy trading available
Cons: Email notifications too frequent|Research section could be deeper
Degen Tradex 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: Customizable dashboard|API access|Dividend tracking|Reliable uptime
Cons: Limited social trading features
Degen Tradex has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Full transparency|Fast support response|Dedicated account manager|Good mobile app
Cons: Some tools only available on higher tiers
I lost a significant amount because Degen Tradex 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: Tax reports included|Responsive team|Full transparency
Cons: No phone support on weekends|Limited social trading features
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Degen Tradex has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database
I gave Degen Tradex a fair chance. After for a few weeks now 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: Great customer service|Market news feed
Cons: Alert system is basic