MyCurrencyExpert (mycurrencyexpert.com) has been flagged by Australian Securities and Investments Commission 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.
My card was charged twice by MyCurrencyExpert (mycurrencyexpert.com) on the same day. I had to dispute it with my bank. MyCurrencyExpert (mycurrencyexpert.com) then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Full transparency|Dedicated account manager|Regular updates|Fast support response
Cons: No fractional shares
After seeing ads for MyCurrencyExpert (mycurrencyexpert.com) online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Australian Securities and Investments Commission. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Unauthorized firm|Found in IOSCO warnings database
After doing some research AFTER the fact (I know, I should have done this first), I discovered that MyCurrencyExpert (mycurrencyexpert.com) 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.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
After since I opened my account last year with MyCurrencyExpert (mycurrencyexpert.com), I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Regular updates|Customizable dashboard
Cons: Some tools only available on higher tiers|Limited ETF selection
I gave MyCurrencyExpert (mycurrencyexpert.com) a fair chance. After for roughly four 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: API access|Regular updates|Social trading features|Easy to use platform
Cons: No integrated tax optimization
The reporting at MyCurrencyExpert (mycurrencyexpert.com) is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Fast execution|Educational resources|Easy to use platform
Cons: Onboarding videos are outdated
Do not believe the bonus offer from MyCurrencyExpert (mycurrencyexpert.com). The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited through my accountant's suggestion and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Clean UI|Transparent fees|Comprehensive tools
Cons: Account statements could be more detailed|None so far
The spread at MyCurrencyExpert (mycurrencyexpert.com) is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them from a review site like this one and initially thought the platform was good - until I started trading seriously.
Pros: Professional team|Instant funding|Great customer service
Cons: Wish they had more educational resources|Charting tools need more indicators
I joined MyCurrencyExpert (mycurrencyexpert.com) after a trusted YouTuber reviewed them 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.
Pros: Good mobile app|Excellent charting|Fast deposits
Cons: Minor UI glitches occasionally|Would like more payment methods
MyCurrencyExpert (mycurrencyexpert.com) 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: Smooth onboarding|Detailed reporting|Dividend tracking|Two-factor authentication
Cons: Desktop app not available on Linux