Shiiro Academy has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". Shiiro Academy offers what it describes as “trading signals” for foreign exchange derivatives, recommending specific trades to its members. This is regulated financial advice. Shiiro is not licensed to provide financial advice in New Zealand, and it is not registered on the FSPR.
The FMA i... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
The mobile app from Shiiro Academy is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Regular platform improvements|Helpful community forum|Good mobile app
Cons: No fractional shares|Slow to add new assets
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. Shiiro Academy recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Responsive team|Personal attention|Segregated accounts
Cons: Email notifications too frequent|Limited ETF selection
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Shiiro Academy 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.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
Shiiro Academy 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: Good mobile app|Segregated accounts|Low minimum deposit|Fast support response
Cons: No dark mode on mobile
I am in a dispute with Shiiro Academy 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: No hidden fees|Dividend tracking
Cons: Limited cryptocurrency options|No live chat on mobile
Do not be fooled by the professional-looking website. Behind the scenes, Shiiro Academy is disorganized and incompetent. I found them after reading several online reviews and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Real-time alerts|Excellent charting
Cons: Some tools only available on higher tiers
I was about to invest with Shiiro Academy but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Markets Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Flagged by international regulators|Due diligence required
My card was charged twice by Shiiro Academy on the same day. I had to dispute it with my bank. Shiiro Academy then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Professional team|Good analytical tools|Wide product range|Fast execution
Cons: Wait times can be long during peak hours|No dark mode on mobile