FXAlchemy Investments has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". Firm states on website they are registered with The FCA when not - Breach of s24 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.fxalchemyinvestments.com.
What really bothers me about FXAlchemy Investments is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them through a forum discussion and I fell for the polished exterior. Never again.
Pros: Dividend tracking|Clear documentation|Risk management tools
Cons: Minor UI glitches occasionally|Spreads widen during volatile periods
I wanted to transfer my portfolio from another broker to FXAlchemy Investments. 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: API access|Wide product range|Low minimum deposit|Educational resources
Cons: Currency conversion fee exists|No fractional shares
The so-called education at FXAlchemy Investments 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 the past year and a half thinking they would help me learn.
Pros: Great customer service|Comprehensive tools|Intuitive for beginners
Cons: No crypto staking