SFI Trade (sfitrade.com) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: sfitrade.com.
KYC with SFI Trade (sfitrade.com) is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Intuitive for beginners|Professional team|Clear documentation
Cons: Limited cryptocurrency options
After for a couple of months now with SFI Trade (sfitrade.com) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Fast deposits|Demo account available|Instant funding
Cons: No live chat on mobile
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. SFI Trade (sfitrade.com) recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Excellent charting|No hidden fees|Tax reports included
Cons: Minor UI glitches occasionally|Account statements could be more detailed
I had high hopes for SFI Trade (sfitrade.com) after doing extensive research, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Helpful community forum|Portfolio tracking tools
Cons: Minimum deposit could be lower|Account statements could be more detailed