TradersRoom has been flagged by ASIC (Australia) for "Unlicensed (Legacy)". Phones: 646-490-2680, 888-899-2443
Addresses: 6943 198 Street Fresh Meadows New York NY 11365 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.tradersroom.com.
I closed a profitable position at TradersRoom 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: Economic calendar|Market news feed
Cons: Spreads widen during volatile periods
TradersRoom 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: Multiple order types|Regular platform improvements|Professional team|Reliable uptime
Cons: Account statements could be more detailed
The onboarding at TradersRoom 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: Personal attention|Portfolio tracking tools|Tax reports included
Cons: Onboarding videos are outdated
Do not believe the bonus offer from TradersRoom. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited based on a colleague's recommendation and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Comprehensive tools|Easy to use platform
Cons: Limited ETF selection|Could offer more webinars
The platform itself is okay, but the customer service at TradersRoom 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: Two-factor authentication|Good analytical tools|Customizable dashboard|Copy trading available
Cons: No phone support on weekends