FlexonixTrader 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.
I am in a dispute with FlexonixTrader 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: High security standards|Comprehensive tools|Instant funding|Two-factor authentication
Cons: Slow to add new assets
After seeing ads for FlexonixTrader online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Conduct Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Pros: Website looks legitimate on the surface
Cons: Not registered with regulators|Unrealistic promises
Do not be fooled by the professional-looking website. Behind the scenes, FlexonixTrader is disorganized and incompetent. I found them from a blog post comparing services and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Multi-device support|Good mobile app
Cons: Could offer more webinars
I wanted to transfer my portfolio from another broker to FlexonixTrader. 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: Great customer service|Multi-currency support|Reliable uptime|Intuitive for beginners
Cons: Some tools only available on higher tiers
After doing some research AFTER the fact (I know, I should have done this first), I discovered that FlexonixTrader is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Blocked my account|No legitimate license|Fake returns
The onboarding at FlexonixTrader 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: Personal attention|Economic calendar
Cons: Inactivity fee applies after 12 months|None so far
FlexonixTrader had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Dedicated account manager|Transparent fees|Intuitive for beginners|Segregated accounts
Cons: Inactivity fee applies after 12 months|Desktop app not available on Linux
The reporting at FlexonixTrader is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Easy to use platform|Educational resources
Cons: Currency conversion fee exists|No integrated tax optimization
Opened my account with FlexonixTrader based on a colleague's recommendation and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Fast deposits|No hidden fees|Low minimum deposit
Cons: Live chat only during business hours
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. FlexonixTrader said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: No hidden fees|Reliable uptime
Cons: Some tools only available on higher tiers