Vortex Momentum has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Tried to withdraw my funds from Vortex Momentum 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.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
Several red flags with Vortex Momentum: (1) They promise unrealistically high returns, (2) They're not registered with Comisión Nacional del Mercado de Valores, (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: Not registered with regulators|Unrealistic promises
If you are reading this considering Vortex Momentum - 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 over a year has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Clean UI|Wide product range
Cons: Minimum deposit could be lower
I wanted to transfer my portfolio from another broker to Vortex Momentum. 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: Helpful community forum|Real-time alerts|Professional team
Cons: Charting tools need more indicators
I had a dispute with Vortex Momentum and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Good analytical tools|Multi-currency support|Dividend tracking|Customizable dashboard
Cons: No live chat on mobile|Limited social trading features
Vortex Momentum has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Intuitive for beginners|Competitive fees|Regular updates
Cons: Help articles are sometimes vague