Richpro Academy has been flagged by Financial Conduct Authority 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.
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Richpro Academy has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database
Richpro Academy advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Regular platform improvements|Dividend tracking|Low minimum deposit
Cons: Some tools only available on higher tiers
The spread at Richpro Academy is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them through a forum discussion and initially thought the platform was good - until I started trading seriously.
Pros: Detailed reporting|Fast deposits|Easy withdrawals|Risk management tools
Cons: Could offer more webinars
Do not be fooled by the professional-looking website. Behind the scenes, Richpro Academy is disorganized and incompetent. I found them through my accountant's suggestion and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Personal attention|Easy withdrawals|Portfolio tracking tools|Dedicated account manager
Cons: Cannot customize dashboard fully
The onboarding at Richpro Academy was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Multi-device support|Tax reports included
Cons: Charting tools need more indicators|Limited demo account features
I have been trying to close my account with Richpro Academy 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: Good analytical tools|Regular platform improvements|Quick verification|Automated trading options
Cons: No fractional shares
I wanted to transfer my portfolio from another broker to Richpro Academy. 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: Smooth onboarding|Excellent charting|Stable platform|Automated trading options
Cons: Spreads widen during volatile periods|No integrated tax optimization
I closed a profitable position at Richpro Academy and the profit was not credited for 5 days. Support said it was a settlement delay. When it finally arrived it was less than the amount shown on the platform. They could not explain the difference. I have moved my account.
Pros: Great customer service|Social trading features
Cons: No integrated tax optimization|No phone support on weekends
Do not use Richpro Academy for anything serious. I used them since early this year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.
Pros: Segregated accounts|Tax reports included|Reliable uptime|Helpful community forum
Cons: Limited demo account features
Where do I even begin with Richpro Academy? for about eight 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: No hidden fees|Dedicated account manager|Regular updates
Cons: Minimum deposit could be lower|Alert system is basic