Spectrum Investix 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.
The onboarding at Spectrum Investix 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: Clean UI|Wide product range
Cons: Email notifications too frequent
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
I was about to invest with Spectrum Investix but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Conduct Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Unauthorized firm|Found in IOSCO warnings database
Spectrum Investix 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: Good mobile app|No hidden fees|Easy withdrawals|Regular updates
Cons: Limited ETF selection
I gave Spectrum Investix a fair chance. After for about eight months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: High security standards|Low minimum deposit
Cons: Slow to add new assets
Tried to withdraw my funds from Spectrum Investix and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Lost entire investment|Reported to authorities|Unresponsive
I closed a profitable position at Spectrum Investix 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: Segregated accounts|Good mobile app|Clear documentation|Good analytical tools
Cons: Inactivity fee applies after 12 months
KYC with Spectrum Investix 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: Fast deposits|Great customer service|Easy to use platform|High security standards
Cons: Would like more payment methods|Limited ETF selection