Moola Schoola 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.
Moola Schoola 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: Risk management tools|Multiple order types|Quick verification
Cons: No dark mode on mobile|Live chat only during business hours
Do not be fooled by the professional-looking website. Behind the scenes, Moola Schoola 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 I found them after doing extensive research and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.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: Great customer service|Personal attention|API access
Cons: No integrated tax optimization|Limited cryptocurrency options
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Moola Schoola is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Pros: Professional looking website
Cons: Lost entire investment|Reported to authorities|Unresponsive
Moola Schoola 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|Real-time alerts
Cons: Alert system is basic|Charting tools need more indicators
I have been trying to close my account with Moola Schoola 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: Fast execution|Portfolio tracking tools
Cons: No fractional shares|Minor UI glitches occasionally
Several red flags with Moola Schoola: (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: Listed in warning databases|No transparency|Pressure to invest quickly
I experienced a security concern with my Moola Schoola account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: High security standards|Real-time alerts|Educational resources|Portfolio tracking tools
Cons: Would like more payment methods|None so far