MetroWaveTrade has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
MetroWaveTrade 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: Multiple order types|Fast support response|Market news feed|Detailed reporting
Cons: Limited social trading features|Could offer more webinars
Tried to withdraw my funds from MetroWaveTrade 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.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
Customer support at MetroWaveTrade 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: Transparent fees|Two-factor authentication|Smooth onboarding|Clean UI
Cons: No crypto staking
I wanted to transfer my portfolio from another broker to MetroWaveTrade. 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: Real-time alerts|Personal attention|Economic calendar|Stable platform
Cons: Desktop app not available on Linux|Limited demo account features
After seeing ads for MetroWaveTrade online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Conduct Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Not registered with regulators|Unrealistic promises
The hidden fees at MetroWaveTrade 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: Responsive team|Good mobile app
Cons: Mobile app could be improved
MetroWaveTrade 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: Good mobile app|Market news feed|Demo account available|Full transparency
Cons: No dark mode on mobile
I trusted MetroWaveTrade with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Demo account available|Great customer service|Good mobile app
Cons: Slow to add new assets|Some tools only available on higher tiers
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. MetroWaveTrade said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Intuitive for beginners|Low minimum deposit|Transparent fees
Cons: Research section could be deeper
I gave MetroWaveTrade a fair chance. After for over three years 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: Low minimum deposit|Wide product range
Cons: Limited cryptocurrency options