Glimmer-trade has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Do not be fooled by the professional-looking website. Behind the scenes, Glimmer-trade is disorganized and incompetent. I found them after comparing multiple platforms and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Regular updates|Wide product range|Intuitive for beginners
Cons: Account statements could be more detailed
I invested $1,000 with Glimmer-trade 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 Markets Authority.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
I lost a significant amount because Glimmer-trade did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Easy to use platform|Instant funding
Cons: Onboarding videos are outdated|Some tools only available on higher tiers
Glimmer-trade 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: No hidden fees|Demo account available
Cons: Limited ETF selection|Live chat only during business hours
I am in a dispute with Glimmer-trade 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: Reliable uptime|Wide product range|Social trading features
Cons: Withdrawal takes 1-2 business days
Several red flags with Glimmer-trade: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets 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: Not registered with regulators|Unrealistic promises