FexTap (fextap.com) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: fextap.com.
Do not use FexTap (fextap.com) for anything serious. I used them for roughly four months for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Social trading features|Good analytical tools|Excellent charting|Fast deposits
Cons: Cannot customize dashboard fully
Do not believe the bonus offer from FexTap (fextap.com). The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited when my bank disappointed me and I searched for alternatives and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Dedicated account manager|Social trading features|Intuitive for beginners|Dividend tracking
Cons: Limited demo account features|Account statements could be more detailed
My withdrawal from FexTap (fextap.com) 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 about five months of being strung along.
Pros: Dividend tracking|Good mobile app|Customizable dashboard
Cons: Withdrawal takes 1-2 business days
FexTap (fextap.com) 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: Clear documentation|Multi-currency support|Tax reports included
Cons: Cannot customize dashboard fully|No dark mode on mobile
I have been trying to close my account with FexTap (fextap.com) for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Stable platform|Portfolio tracking tools|Good mobile app|Customizable dashboard
Cons: No integrated tax optimization|Wish they had more educational resources