Tezix 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.
Tezix 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: Educational resources|Reliable uptime
Cons: No integrated tax optimization|Charting tools need more indicators
Tezix advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Customizable dashboard|Multiple order types|Wide product range|Multi-currency support
Cons: Inactivity fee applies after 12 months|Website design could be more modern
Tezix has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: No hidden fees|Dedicated account manager
Cons: Minimum deposit could be lower|Wish they had more educational resources
After since I opened my account last year with Tezix 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: High security standards|Low minimum deposit|Easy withdrawals
Cons: Would like more payment methods
Several red flags with Tezix: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I joined Tezix through a podcast recommendation and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Personal attention|Demo account available|Great customer service|Detailed reporting
Cons: Desktop app not available on Linux
Tezix 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|Multi-currency support|Transparent fees
Cons: Limited ETF selection|Research section could be deeper
I wanted to transfer my portfolio from another broker to Tezix. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Excellent charting|Demo account available|Clean UI
Cons: Wait times can be long during peak hours
Tried to withdraw my funds from Tezix 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.
Pros: Initially responsive customer service
Cons: Blocked my account|No legitimate license|Fake returns
The onboarding at Tezix 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: Wide product range|Regular platform improvements|Professional team|Intuitive for beginners
Cons: Withdrawal takes 1-2 business days