Muller Schmidt Associates has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: 1 (612) 392 290
Addresses: 1500 W Lake Street Minneapolis MN 55408 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.mullerschmidt.com.
I had high hopes for Muller Schmidt Associates after seeing their ad online, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Competitive fees|Fast deposits
Cons: Alert system is basic|Limited social trading features
The spread at Muller Schmidt Associates is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them through my accountant's suggestion and initially thought the platform was good - until I started trading seriously.
Pros: Helpful community forum|Clear documentation
Cons: Live chat only during business hours|Minimum deposit could be lower
Do not be fooled by the professional-looking website. Behind the scenes, Muller Schmidt Associates is disorganized and incompetent. I found them after hearing about them at a conference and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Dividend tracking|Good mobile app|Educational resources
Cons: Email notifications too frequent
Muller Schmidt Associates locked my account without warning and demanded documents I had already submitted. for a couple of months now later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Fast support response|Multi-currency support
Cons: No fractional shares
KYC with Muller Schmidt Associates 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: Responsive team|Educational resources|Fast deposits
Cons: Research section could be deeper
Opened my account with Muller Schmidt Associates based on a colleague's recommendation and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Professional team|Easy withdrawals|Dividend tracking|Excellent charting
Cons: Some tools only available on higher tiers|Desktop app not available on Linux
I opened an account with Muller Schmidt Associates for over three years 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: Regular platform improvements|Multi-currency support|Risk management tools|Easy withdrawals
Cons: Desktop app not available on Linux|Withdrawal takes 1-2 business days
After spending for just over a year trying to make Muller Schmidt Associates 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: Regular updates|Educational resources
Cons: Cannot customize dashboard fully|Would like more payment methods
The mobile app from Muller Schmidt Associates is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Good mobile app|Dedicated account manager|Segregated accounts
Cons: Nothing significant|No live chat on mobile
I gave Muller Schmidt Associates a fair chance. After for about ten 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: Social trading features|Tax reports included|Clear documentation
Cons: Search feature is basic|No integrated tax optimization