Pyth has been flagged by Autorité des marchés financiers for "Unregistered/Unlicensed entity offering financial products or services". Pyth is not registered with the Autorité des marchés financiers (AMF) and is not authorized to solicit investors in Québec. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: pythim.com.
My withdrawal request from Pyth has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: No hidden fees|Good analytical tools|Helpful community forum
Cons: Limited cryptocurrency options|Minor UI glitches occasionally
The hidden fees at Pyth are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Easy to use platform|Easy withdrawals|Excellent charting|Low minimum deposit
Cons: Limited cryptocurrency options
The platform itself is okay, but the customer service at Pyth 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: Dividend tracking|Full transparency|Risk management tools
Cons: No fractional shares|Limited ETF selection
Pyth has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Segregated accounts|Smooth onboarding
Cons: Minor UI glitches occasionally|None so far
After seeing ads for Pyth online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Autorité des marchés financiers. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Not registered with regulators|Unrealistic promises
Pyth had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Comprehensive tools|Great customer service|Risk management tools|Regular updates
Cons: Limited cryptocurrency options
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Pyth 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: Initially responsive customer service
Cons: Blocked my account|No legitimate license|Fake returns
Pyth offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Multiple order types|Wide product range|Market news feed|Professional team
Cons: Research section could be deeper
I have been trying to close my account with Pyth for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Responsive team|High security standards|Easy withdrawals|No hidden fees
Cons: Could offer more webinars
I am in a dispute with Pyth 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: Clear documentation|Fast deposits
Cons: Live chat only during business hours