Summit Trade Co (summitrade.co) has been flagged by ASIC (Australia) for "Unlicensed". Search IC001 for other entities related to this alert.
Phones: 41225000892 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: summitrade.co.
Do not believe the bonus offer from Summit Trade Co (summitrade.co). The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited through word of mouth in my investment club and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Clean UI|Clear documentation
Cons: Could offer more webinars
If you are reading this considering Summit Trade Co (summitrade.co) - run. I wish I had read more negative reviews through my accountant's suggestion. I thought the positive ones were real. Maybe some are. My experience over for about eight months has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Full transparency|Quick verification|Customizable dashboard|Copy trading available
Cons: Nothing significant|Inactivity fee applies after 12 months
The so-called education at Summit Trade Co (summitrade.co) 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 the past six months thinking they would help me learn.
Pros: Clear documentation|Fast support response
Cons: Charting tools need more indicators
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. Summit Trade Co (summitrade.co) said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Clean UI|Excellent charting|Social trading features|Clear documentation
Cons: Help articles are sometimes vague
I am in a dispute with Summit Trade Co (summitrade.co) 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: Real-time alerts|Risk management tools|Multi-device support|Reliable uptime
Cons: Onboarding videos are outdated
KYC with Summit Trade Co (summitrade.co) 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: High security standards|Automated trading options|Clean UI
Cons: Inactivity fee applies after 12 months
Summit Trade Co (summitrade.co) had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Tax reports included|Dividend tracking|Professional team|Easy withdrawals
Cons: Email notifications too frequent|No dark mode on mobile
After for over three years with Summit Trade Co (summitrade.co) I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Comprehensive tools|Dividend tracking|Good analytical tools
Cons: Wait times can be long during peak hours|No live chat on mobile
The platform itself is okay, but the customer service at Summit Trade Co (summitrade.co) is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Excellent charting|Full transparency|Portfolio tracking tools
Cons: Desktop app not available on Linux|Minimum deposit could be lower
After using Summit Trade Co (summitrade.co) for close to eighteen months, I decided to move my account elsewhere. The platform was unreliable, withdrawals took an unreasonable amount of time, and I could never get a straight answer from customer service. Frustrating experience overall.
Pros: No hidden fees|Great customer service|Helpful community forum
Cons: Slow to add new assets