Octa-trade Metro has been flagged by Alberta Securities 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.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Octa-trade Metro 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.
Pros: Professional looking website
Cons: Blocked my account|No legitimate license|Fake returns
I am in a dispute with Octa-trade Metro over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Transparent fees|No hidden fees|Fast execution
Cons: No dark mode on mobile|Cannot customize dashboard fully
The spread at Octa-trade Metro is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after attending a webinar they hosted and initially thought the platform was good - until I started trading seriously.
Pros: No hidden fees|Reliable uptime
Cons: No phone support on weekends
Do not be fooled by the professional-looking website. Behind the scenes, Octa-trade Metro is disorganized and incompetent. I found them after attending a webinar they hosted and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Social trading features|Wide product range
Cons: Withdrawal takes 1-2 business days|Limited ETF selection
Several red flags with Octa-trade Metro: (1) They promise unrealistically high returns, (2) They're not registered with Alberta Securities Commission, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises