TheBusinessICenter (thebusinessicenter.com) has been flagged by ASIC (Australia) for "Unlicensed". Search IC001 for other entities related to this alert. Link to warnings from overseas regulators: OSC https://www.osc.ca/en/investors/warnings/business-investment-center This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: thebusinessicenter.com.
I gave TheBusinessICenter (thebusinessicenter.com) a fair chance. After for about three 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: Transparent fees|High security standards|Excellent charting
Cons: Wish they had more educational resources|Limited demo account features
TheBusinessICenter (thebusinessicenter.com) 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: Segregated accounts|Helpful community forum
Cons: Currency conversion fee exists
My withdrawal from TheBusinessICenter (thebusinessicenter.com) was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for the past year and a half of being strung along.
Pros: Regular updates|Dividend tracking|Good mobile app|API access
Cons: Minor UI glitches occasionally
TheBusinessICenter (thebusinessicenter.com) 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: Clear documentation|Market news feed|Intuitive for beginners
Cons: Email notifications too frequent
If you are reading this considering TheBusinessICenter (thebusinessicenter.com) - 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 just over a year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Smooth onboarding|Tax reports included|Dedicated account manager|Multi-currency support
Cons: Inactivity fee applies after 12 months
I closed a profitable position at TheBusinessICenter (thebusinessicenter.com) 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: Reliable uptime|Multi-device support|Demo account available|Instant funding
Cons: Research section could be deeper
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. TheBusinessICenter (thebusinessicenter.com) said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Easy withdrawals|Detailed reporting|Reliable uptime|Dedicated account manager
Cons: None so far
I have been trying to close my account with TheBusinessICenter (thebusinessicenter.com) 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: Multiple order types|Full transparency
Cons: Alert system is basic