NostroBank (brokerage firm) has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Addresses: Bahnhofstrasse 45 8001 ZǬrich 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.nostrobank.com.
I signed up with NostroBank (brokerage firm) based on a colleague's recommendation and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Dividend tracking|Personal attention|Market news feed|Automated trading options
Cons: Limited cryptocurrency options
I wanted to transfer my portfolio from another broker to NostroBank (brokerage firm). 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: Two-factor authentication|Fast execution|Portfolio tracking tools
Cons: Could offer more webinars|None so far
My card was charged twice by NostroBank (brokerage firm) on the same day. I had to dispute it with my bank. NostroBank (brokerage firm) 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: Two-factor authentication|High security standards|Tax reports included
Cons: Slow to add new assets
The mobile app from NostroBank (brokerage firm) 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: Multi-currency support|Helpful community forum
Cons: Some tools only available on higher tiers
The platform itself is okay, but the customer service at NostroBank (brokerage firm) is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Easy withdrawals|Comprehensive tools|Dedicated account manager
Cons: No live chat on mobile
I gave NostroBank (brokerage firm) a fair chance. After for a few weeks now 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: Clear documentation|Personal attention
Cons: Limited social trading features
I found NostroBank (brokerage firm) from a review site like this one and the initial impression was positive. But for a couple of months now later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Comprehensive tools|Dividend tracking
Cons: Search feature is basic|Email notifications too frequent