MetroFinancials has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Note: Related to this are fake regulators 'American Futures and Options Trading Commission' and 'American Futures and Options Exchange Ltd'
Phones: 1 888 265 5806, 1 646 860 086, fax 1 646 619 4236
Addresses: 194 William St New York NY 10038 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.metrofinancials.com.
The platform itself is okay, but the customer service at MetroFinancials 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: Excellent charting|Good analytical tools
Cons: Withdrawal takes 1-2 business days
The reporting at MetroFinancials 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: No hidden fees|Full transparency|Real-time alerts
Cons: Wish they had more educational resources|Inactivity fee applies after 12 months
Customer support at MetroFinancials seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Full transparency|Two-factor authentication|Personal attention|Excellent charting
Cons: Charting tools need more indicators|Live chat only during business hours
The platform at MetroFinancials is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After since the beginning of the year of dealing with this, I have had enough.
Pros: Automated trading options|Multiple order types|Reliable uptime
Cons: Website design could be more modern
KYC with MetroFinancials is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Easy withdrawals|Multiple order types|Customizable dashboard|Multi-device support
Cons: Withdrawal takes 1-2 business days
I gave MetroFinancials a fair chance. After for about three months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Wide product range|Fast support response|Educational resources
Cons: Limited demo account features|Email notifications too frequent
Do not believe the bonus offer from MetroFinancials. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited through my accountant's suggestion and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: High security standards|Personal attention|Reliable uptime
Cons: Account statements could be more detailed
I found MetroFinancials after reading several online reviews and the initial impression was positive. But for the past six months later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Comprehensive tools|Wide product range|Detailed reporting
Cons: Limited ETF selection|None so far
After for the past year and a half with MetroFinancials 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: Comprehensive tools|Low minimum deposit
Cons: Alert system is basic|Limited ETF selection
MetroFinancials changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Automated trading options|Wide product range
Cons: No crypto staking|Email notifications too frequent