MX Stocks

MX Stocks 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.

I joined MX Stocks after doing extensive research and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.

I wanted to transfer my portfolio from another broker to MX Stocks. 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.

Do not believe the bonus offer from MX Stocks. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited after attending a webinar they hosted and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.

This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.

MX Stocks 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.

Do not be fooled by the professional-looking website. Behind the scenes, MX Stocks is disorganized and incompetent. I found them based on a colleague's recommendation and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.

I experienced a security concern with my MX Stocks 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.

I want to warn everyone about MX Stocks. They have been flagged by Financial Markets Authority as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.

After seeing ads for MX Stocks online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Markets Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.