First New York Securities LLC has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Note: this company is not connected and should not be confused with the legitimate firm First New York Securities LLC (www.fnysllc.com) of 90 Park St 5th Floor New York NY 10018 United States Ph 212 848 0600 which is registered with the SEC and FINRA as a broker dealer (CRD# 16362) in the USA
... 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.firstnewyorkllc.com.
What really bothers me about First New York Securities LLC is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them through my accountant's suggestion and I fell for the polished exterior. Never again.
Pros: Tax reports included|Stable platform|Clean UI|Regular platform improvements
Cons: Alert system is basic
The so-called education at First New York Securities LLC is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for just over a year thinking they would help me learn.
Pros: Regular platform improvements|Demo account available
Cons: No dark mode on mobile
I am in a dispute with First New York Securities LLC 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: Dividend tracking|Helpful community forum|Multi-device support
Cons: Search feature is basic
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. First New York Securities LLC recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Wide product range|Easy to use platform
Cons: Minor UI glitches occasionally|Help articles are sometimes vague
After for about ten months with First New York Securities LLC 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: Customizable dashboard|Economic calendar
Cons: Website design could be more modern|Account statements could be more detailed
The onboarding at First New York Securities LLC was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Detailed reporting|Multi-currency support
Cons: Nothing significant
I referred a friend to First New York Securities LLC through my accountant's suggestion. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Dedicated account manager|Great customer service|Educational resources|Intuitive for beginners
Cons: Limited demo account features
KYC with First New York Securities LLC is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Fast deposits|Quick verification|Low minimum deposit|API access
Cons: No fractional shares|No integrated tax optimization
The mobile app from First New York Securities LLC is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Quick verification|Demo account available|Clear documentation|Wide product range
Cons: Minor UI glitches occasionally
My withdrawal from First New York Securities LLC 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: Instant funding|Multi-currency support|High security standards|No hidden fees
Cons: No integrated tax optimization|Wish they had more educational resources