Spot Capital Markets Ltd t/a Milano Trade has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: UK: +44-2031-500-651, +39-0294-750-720, +39-0294-750-721, + 39-0294-750-720, +44-2031-500-651
Addresses: Kanika Business Center 319 - 28th Oktomvriou St 2nd Floor Limassol 3105 Cyprus; Katalanou 1 1st Floor Office 101 Aglantzia 2121 Nicosia Cyprus 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.milanotrader.com.
I signed up with Spot Capital Markets Ltd t/a Milano Trade after hearing about them at a conference and the first red flag was the aggressive account manager who would not stop calling. After depositing, the promised support vanished. Withdrawals are delayed with endless excuses. I have reported them to the regulator.
Pros: Reliable uptime|Personal attention|Helpful community forum|Professional team
Cons: Limited cryptocurrency options|Desktop app not available on Linux
Do not use Spot Capital Markets Ltd t/a Milano Trade for anything serious. I used them since the beginning of the 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: Good analytical tools|Clear documentation|Regular updates
Cons: Wait times can be long during peak hours
Spot Capital Markets Ltd t/a Milano Trade offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Fast execution|Automated trading options|Comprehensive tools|Smooth onboarding
Cons: Nothing significant
I am in a dispute with Spot Capital Markets Ltd t/a Milano Trade 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: Good mobile app|Excellent charting|Portfolio tracking tools|Low minimum deposit
Cons: Spreads widen during volatile periods
After spending since I opened my account last year trying to make Spot Capital Markets Ltd t/a Milano Trade work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Multiple order types|Portfolio tracking tools|Customizable dashboard
Cons: Charting tools need more indicators|Slow to add new assets
I have been trying to close my account with Spot Capital Markets Ltd t/a Milano Trade 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: Educational resources|Fast support response|Stable platform
Cons: Alert system is basic|Limited social trading features
If you are reading this considering Spot Capital Markets Ltd t/a Milano Trade - run. I wish I had read more negative reviews after my brother mentioned them. I thought the positive ones were real. Maybe some are. My experience over for a few weeks now has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Market news feed|Low minimum deposit
Cons: Wish they had more educational resources|No live chat on mobile
Spot Capital Markets Ltd t/a Milano Trade 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: Clear documentation|Intuitive for beginners|Transparent fees|Detailed reporting
Cons: None so far|Live chat only during business hours
Spot Capital Markets Ltd t/a Milano Trade changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Comprehensive tools|Clean UI|Professional team
Cons: Limited cryptocurrency options|Limited ETF selection
The spread at Spot Capital Markets Ltd t/a Milano Trade is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them when my bank disappointed me and I searched for alternatives and initially thought the platform was good - until I started trading seriously.
Pros: Multi-currency support|Smooth onboarding|Risk management tools|Competitive fees
Cons: Currency conversion fee exists|No crypto staking