Finance Assistance Limited has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". Firm stating they are FCA registered when not - Breach of s24 FSMA This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.financeassistanceltd.com.
If you are reading this considering Finance Assistance Limited - run. I wish I had read more negative reviews when my bank disappointed me and I searched for alternatives. I thought the positive ones were real. Maybe some are. My experience over since I opened my account last year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Transparent fees|Excellent charting|Good analytical tools
Cons: Account statements could be more detailed|Limited social trading features
I wanted to transfer my portfolio from another broker to Finance Assistance Limited. 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: Risk management tools|Clear documentation|Reliable uptime|Clean UI
Cons: No phone support on weekends
The hidden fees at Finance Assistance Limited are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Customizable dashboard|Automated trading options
Cons: Limited cryptocurrency options
For anyone considering Finance Assistance Limited, please be aware that this company has been flagged by Financial Conduct Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Pros: Information is publicly available for verification
Cons: Flagged by international regulators|Due diligence required
The spread at Finance Assistance Limited is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after a friend recommended them and initially thought the platform was good - until I started trading seriously.
Pros: Great customer service|Multiple order types|Economic calendar
Cons: Could offer more webinars