Department of Financial Trading has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: +1 202 552 1539, Fax: +1 202 315 3213
Addresses: 1204 18th Street Northwest WASHINGTON DC This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: gov.depft.us.
I requested my data from Department of Financial Trading 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: Transparent fees|API access
Cons: Charting tools need more indicators
I wanted to transfer my portfolio from another broker to Department of Financial Trading. 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: Copy trading available|Fast execution
Cons: Search feature is basic|Minor UI glitches occasionally
My withdrawal from Department of Financial Trading 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. since mid-2025 of being strung along.
Pros: Comprehensive tools|Fast deposits
Cons: Email notifications too frequent|Would like more payment methods
After for roughly four months with Department of Financial Trading I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Great customer service|Comprehensive tools
Cons: No fractional shares|Currency conversion fee exists
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Department of Financial Trading said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Full transparency|Dedicated account manager|Excellent charting|Multi-device support
Cons: Onboarding videos are outdated|Mobile app could be improved