FirstMassi has been flagged by Financial Conduct Authority 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. Website domain: firstmassitrade.com.
The platform itself is okay, but the customer service at FirstMassi is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Good mobile app|Full transparency|Low minimum deposit|Risk management tools
Cons: Limited ETF selection|None so far
I invested $3,500 with FirstMassi after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Conduct Authority.
Pros: Professional looking website
Cons: No regulatory oversight|Money disappeared|Fake testimonials
After for about three months with FirstMassi 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: Market news feed|API access|Segregated accounts|Intuitive for beginners
Cons: No fractional shares|No phone support on weekends
Several red flags with FirstMassi: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Unauthorized firm|Found in IOSCO warnings database
The only good thing about FirstMassi is that they remind you why regulation matters. I found them from a blog post comparing services. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Instant funding|Demo account available|Customizable dashboard
Cons: Research section could be deeper|Onboarding videos are outdated