Song Management Group has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: +852 51947166 (international admin), 10 800 712 6888 (North China), 10 800 120 3938 (South China)
Addresses: Shanghai World Financial Centre No. 100 Century Avenue Pudong New Area Shanghai People's Republic of China This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.songmanagementgroup.com.
I opened an account with Song Management Group for roughly four months ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Instant funding|Regular updates
Cons: Cannot customize dashboard fully
I closed a profitable position at Song Management Group 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: Excellent charting|Portfolio tracking tools
Cons: Minor UI glitches occasionally|Limited social trading features
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. Song Management Group said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Multi-device support|Automated trading options|Full transparency
Cons: Limited demo account features|Alert system is basic
Song Management Group locked my account without warning and demanded documents I had already submitted. for the past year and a half later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Multi-currency support|Good analytical tools|Reliable uptime|Easy withdrawals
Cons: Limited social trading features|Email notifications too frequent
The only good thing about Song Management Group is that they remind you why regulation matters. I found them from a blog post comparing services. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Segregated accounts|Wide product range|Regular platform improvements
Cons: Limited cryptocurrency options|Inactivity fee applies after 12 months
I had high hopes for Song Management Group through a forum discussion, 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: Risk management tools|Good mobile app|Excellent charting
Cons: Charting tools need more indicators|Mobile app could be improved
Song Management Group has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: No hidden fees|Segregated accounts
Cons: Email notifications too frequent