My Rate Watchers (myratewatchers.com) has been flagged by ASIC (Australia) for "Unlicensed". Phones: +44 772 473 9188 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.myratewatchers.com.
The spread at My Rate Watchers (myratewatchers.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after hearing about them at a conference and initially thought the platform was good - until I started trading seriously.
Pros: Two-factor authentication|Easy withdrawals|Dividend tracking
Cons: Some tools only available on higher tiers|Website design could be more modern
The platform at My Rate Watchers (myratewatchers.com) is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for over a year of dealing with this, I have had enough.
Pros: API access|Copy trading available
Cons: Help articles are sometimes vague
My Rate Watchers (myratewatchers.com) locked my account without warning and demanded documents I had already submitted. for nearly two years later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Copy trading available|Automated trading options
Cons: Withdrawal takes 1-2 business days
I wanted to transfer my portfolio from another broker to My Rate Watchers (myratewatchers.com). 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: Instant funding|Intuitive for beginners|Helpful community forum
Cons: Some tools only available on higher tiers|Limited demo account features
My withdrawal from My Rate Watchers (myratewatchers.com) was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. since I retired last year of being strung along.
Pros: Instant funding|Detailed reporting|Risk management tools
Cons: Could offer more webinars|Alert system is basic
KYC with My Rate Watchers (myratewatchers.com) 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: Excellent charting|Fast deposits|Professional team
Cons: Cannot customize dashboard fully|Could offer more webinars
What really bothers me about My Rate Watchers (myratewatchers.com) is the disconnect between their marketing and reality. They position themselves as a premium service but deliver a below-average experience. Found them after doing extensive research and I fell for the polished exterior. Never again.
Pros: Helpful community forum|Great customer service
Cons: None so far|Help articles are sometimes vague
I referred a friend to My Rate Watchers (myratewatchers.com) after a friend recommended them. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Wide product range|Full transparency
Cons: Onboarding videos are outdated|Research section could be deeper