EXCESSIVE TRADE has been flagged by Comisión Nacional del Mercado de Valores 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.
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. EXCESSIVE TRADE recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Instant funding|Social trading features
Cons: Cannot customize dashboard fully
I was about to invest with EXCESSIVE TRADE but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Comisión Nacional del Mercado de Valores has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Not registered with regulators|Unrealistic promises
I wanted to transfer my portfolio from another broker to EXCESSIVE TRADE. 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: Customizable dashboard|Copy trading available|Instant funding
Cons: Charting tools need more indicators
EXCESSIVE TRADE 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: Quick verification|Fast deposits
Cons: Limited ETF selection