Grokedex 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, Grokedex is disorganized and incompetent. I found them after hearing about them at a conference and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Regular platform improvements|Excellent charting|Multi-device support|Wide product range
Cons: Minor UI glitches occasionally
Grokedex has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Copy trading available|Two-factor authentication|Customizable dashboard
Cons: Nothing significant
Several red flags with Grokedex: (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: Flagged by Financial Markets Authority|Cannot verify credentials
Tried to withdraw my funds from Grokedex and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I had a dispute with Grokedex and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Good mobile app|Smooth onboarding|Segregated accounts|Two-factor authentication
Cons: Cannot customize dashboard fully|Mobile app could be improved
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Grokedex recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Reliable uptime|Smooth onboarding|Demo account available|Wide product range
Cons: Search feature is basic|Live chat only during business hours
I signed up with Grokedex after a friend recommended them and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Easy to use platform|Quick verification|High security standards
Cons: Live chat only during business hours