Phystrade has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I am in a dispute with Phystrade 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: Wide product range|Reliable uptime
Cons: No phone support on weekends
After using Phystrade for about ten months, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: Full transparency|No hidden fees
Cons: No crypto staking
Phystrade seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Personal attention|Great customer service|Smooth onboarding
Cons: No live chat on mobile
The spread at Phystrade is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after a family member had a good experience and initially thought the platform was good - until I started trading seriously.
Pros: Professional team|Great customer service|Fast support response
Cons: Limited ETF selection|None so far
Where do I even begin with Phystrade? for about five months of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Transparent fees|Automated trading options|Portfolio tracking tools|Customizable dashboard
Cons: Research section could be deeper
After seeing ads for Phystrade 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.
Pros: Website looks legitimate on the surface
Cons: Flagged by Financial Markets Authority|Cannot verify credentials
The platform itself is okay, but the customer service at Phystrade 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: Excellent charting|Professional team|Reliable uptime|Dividend tracking
Cons: Spreads widen during volatile periods
My withdrawal from Phystrade 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. for the past year and a half of being strung along.
Pros: Intuitive for beginners|Risk management tools|Real-time alerts|Good analytical tools
Cons: Wait times can be long during peak hours
I gave Phystrade a fair chance. After for close to eighteen 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: Demo account available|Competitive fees|Great customer service
Cons: Limited ETF selection
Tried to withdraw my funds from Phystrade and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Withdrawal fees demanded|Communication cut off|Not authorized