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.
MetroFinancials 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: Clear documentation|Dividend tracking
Cons: Onboarding videos are outdated|Help articles are sometimes vague
MetroFinancials has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Professional team|Multiple order types
Cons: Research section could be deeper
MetroFinancials offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Dedicated account manager|Helpful community forum
Cons: Withdrawal takes 1-2 business days|Alert system is basic
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. MetroFinancials said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Portfolio tracking tools|Real-time alerts|Customizable dashboard
Cons: Cannot customize dashboard fully|Account statements could be more detailed
The onboarding at MetroFinancials was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Clear documentation|Professional team
Cons: Website design could be more modern|Charting tools need more indicators