Moneywise has been flagged by Financial Conduct Authority for "Unauthorised". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I requested my data from Moneywise under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Tax reports included|Responsive team|Good analytical tools
Cons: No fractional shares|Help articles are sometimes vague
Moneywise 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: Market news feed|Customizable dashboard
Cons: Wait times can be long during peak hours|Help articles are sometimes vague
I opened an account with Moneywise 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: Portfolio tracking tools|Dedicated account manager
Cons: No integrated tax optimization|Alert system is basic
The only good thing about Moneywise is that they remind you why regulation matters. I found them after comparing multiple platforms. 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: Fast deposits|Multi-currency support|Tax reports included
Cons: No live chat on mobile|Wait times can be long during peak hours
After spending for about five months trying to make Moneywise work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Detailed reporting|API access|Low minimum deposit|Customizable dashboard
Cons: Slow to add new assets
Moneywise 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: Multiple order types|Intuitive for beginners
Cons: Spreads widen during volatile periods
Several red flags with Moneywise: (1) They promise unrealistically high returns, (2) They're not registered with Financial Conduct Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Unauthorized firm|Found in IOSCO warnings database
Do not be fooled by the professional-looking website. Behind the scenes, Moneywise is disorganized and incompetent. I found them while looking for alternatives to my previous provider and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Dividend tracking|Personal attention
Cons: No integrated tax optimization|Nothing significant
Where do I even begin with Moneywise? for over three years of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Customizable dashboard|Personal attention
Cons: Limited social trading features
I have been trying to close my account with Moneywise 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: High security standards|API access|Low minimum deposit|Social trading features
Cons: Slow to add new assets|Would like more payment methods