Impersonation of MCJ Invest Pty Ltd (mcjinvest.com) has been flagged by ASIC (Australia) for "Imposter". 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.mcjinvest.com.
If you are reading this considering Impersonation of MCJ Invest Pty Ltd (mcjinvest.com) - run. I wish I had read more negative reviews while looking for alternatives to my previous provider. I thought the positive ones were real. Maybe some are. My experience over for a few weeks now has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Tax reports included|Low minimum deposit
Cons: Would like more payment methods|Spreads widen during volatile periods
The spread at Impersonation of MCJ Invest Pty Ltd (mcjinvest.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them while looking for alternatives to my previous provider and initially thought the platform was good - until I started trading seriously.
Pros: Social trading features|Detailed reporting|Customizable dashboard
Cons: Alert system is basic
The only good thing about Impersonation of MCJ Invest Pty Ltd (mcjinvest.com) is that they remind you why regulation matters. I found them through a forum discussion. 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: Automated trading options|Demo account available|Multiple order types|Dedicated account manager
Cons: None so far|Minor UI glitches occasionally
The so-called education at Impersonation of MCJ Invest Pty Ltd (mcjinvest.com) 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 about eight months thinking they would help me learn.
Pros: Dividend tracking|Tax reports included|Social trading features|Wide product range
Cons: Live chat only during business hours
The platform itself is okay, but the customer service at Impersonation of MCJ Invest Pty Ltd (mcjinvest.com) 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: API access|Instant funding|Easy to use platform|Multiple order types
Cons: No live chat on mobile
Impersonation of MCJ Invest Pty Ltd (mcjinvest.com) advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Multi-currency support|Dividend tracking|No hidden fees|Customizable dashboard
Cons: No fractional shares
Impersonation of MCJ Invest Pty Ltd (mcjinvest.com) locked my account without warning and demanded documents I had already submitted. for over three years later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Automated trading options|Clear documentation|Multiple order types|Clean UI
Cons: Limited ETF selection|Inactivity fee applies after 12 months
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Impersonation of MCJ Invest Pty Ltd (mcjinvest.com) recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Portfolio tracking tools|Multi-device support
Cons: Charting tools need more indicators|Inactivity fee applies after 12 months
I wanted to transfer my portfolio from another broker to Impersonation of MCJ Invest Pty Ltd (mcjinvest.com). 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: Stable platform|Clean UI
Cons: Desktop app not available on Linux