MentorTrades (mentorstraders.com) has been flagged by ASIC (Australia) for "Unlicensed". Phones: 61375032473, 442035970695
Addresses: 1 Granary Street London N1C 4PF 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.mentorstraders.com.
MentorTrades (mentorstraders.com) 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: Excellent charting|Portfolio tracking tools|Fast support response|Automated trading options
Cons: Some tools only available on higher tiers
Do not use MentorTrades (mentorstraders.com) for anything serious. I used them for about five months for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Smooth onboarding|Instant funding|Full transparency|Clean UI
Cons: Spreads widen during volatile periods|Research section could be deeper
After for over three years with MentorTrades (mentorstraders.com) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Market news feed|Full transparency|Dividend tracking
Cons: Wish they had more educational resources
My withdrawal from MentorTrades (mentorstraders.com) was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for close to eighteen months of being strung along.
Pros: Clear documentation|Dividend tracking
Cons: Wait times can be long during peak hours
I opened an account with MentorTrades (mentorstraders.com) for a few weeks now ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Personal attention|Multiple order types
Cons: Limited demo account features
The reporting at MentorTrades (mentorstraders.com) 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: High security standards|Low minimum deposit
Cons: Withdrawal takes 1-2 business days|Spreads widen during volatile periods
The hidden fees at MentorTrades (mentorstraders.com) are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: API access|Smooth onboarding|Market news feed|Low minimum deposit
Cons: Charting tools need more indicators
I have been trying to close my account with MentorTrades (mentorstraders.com) for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Real-time alerts|Educational resources|Personal attention|Great customer service
Cons: No integrated tax optimization
What really bothers me about MentorTrades (mentorstraders.com) is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them based on a colleague's recommendation and I fell for the polished exterior. Never again.
Pros: Good analytical tools|Stable platform|Quick verification
Cons: Wait times can be long during peak hours|No live chat on mobile
Do not be fooled by the professional-looking website. Behind the scenes, MentorTrades (mentorstraders.com) is disorganized and incompetent. I found them after doing extensive research and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Quick verification|Demo account available|Portfolio tracking tools
Cons: Nothing significant