Spot Miners has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I am in a dispute with Spot Miners 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: Tax reports included|Real-time alerts
Cons: Minor UI glitches occasionally
I was about to invest with Spot Miners 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.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I found Spot Miners while looking for alternatives to my previous provider and the initial impression was positive. But since the beginning of the year later, I have encountered so many issues that I cannot recommend them. Trades failing, charts not loading, and support tickets going unanswered for days at a time.
Pros: Tax reports included|Good analytical tools|Two-factor authentication
Cons: Help articles are sometimes vague|Some tools only available on higher tiers
The platform at Spot Miners is riddled with bugs. Charts display incorrect data, order confirmations sometimes fail silently, and the portfolio tracker disagrees with actual positions. After for about ten months of dealing with this, I have had enough.
Pros: Good analytical tools|Clear documentation|Social trading features|Multi-device support
Cons: Spreads widen during volatile periods|Onboarding videos are outdated
I lost a significant amount because Spot Miners did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Quick verification|Personal attention|Smooth onboarding|Full transparency
Cons: No integrated tax optimization|None so far
If you are reading this considering Spot Miners - run. I wish I had read more negative reviews after a trusted YouTuber reviewed them. I thought the positive ones were real. Maybe some are. My experience over since last summer has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Clean UI|Portfolio tracking tools
Cons: None so far|No crypto staking
My card was charged twice by Spot Miners on the same day. I had to dispute it with my bank. Spot Miners 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: Educational resources|Risk management tools|Intuitive for beginners|High security standards
Cons: Would like more payment methods
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. Spot Miners said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Fast support response|Stable platform|Tax reports included|Professional team
Cons: Website design could be more modern|Withdrawal takes 1-2 business days
The so-called education at Spot Miners is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for over three years thinking they would help me learn.
Pros: Easy to use platform|Dividend tracking|Social trading features
Cons: No crypto staking|Slow to add new assets
I invested $10,000 with Spot Miners after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Markets Authority.
Pros: Professional looking website
Cons: Cannot withdraw funds|Not regulated|Pressure tactics