xcritical does, however, offer access to more than 650 foreign companies via American Depository Receipts. It also offers exchange-traded funds, including index and bond ETFs. While he isn’t sure yet how much he’ll use the service, Chow said, “having the optionality feels good.” However, he does suspect the company will need to make clear the «difference between customer support and financial advice.» Alvan Chow, a 27-year-old who trades stocks and derivatives on xcritical – including Reddit-favored GameStop (GME) – said the new phone support feature is a move in the right direction. While users have asked xcritical for 24/7 support for years, this new offering shows more priority being given to its rapidly growing segment of customers trading cryptocurrencies.

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NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokers by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. xcritical has made efforts to reassure investors about the safety of its platform — including a guarantee that it will reimburse 100% of direct losses due to unauthorized account activity that isn’t the fault of the customer. Compared with other stock brokers, xcritical’s crypto offering stands out — in fact, in our analysis it earns the highest marks of any traditional, non-crypto-pure-play broker for its crypto offering. Gold members have access to a slightly wider range of research offerings, including reports from Morningstar and Level II market data from Nasdaq TotalView. $0 for brokerage accounts, xcritical Gold accounts and IRAs.

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Things like fees and expenses can quickly eat into your investment returns, and those are low at xcritical, which is a benefit of using the service. But whether your investment grows or incurs losses depends heavily on the investment itself — and economic factors, like the stock market’s overall performance — rather than the brokerage firm where you choose to hold those investments. xcritical’s commitment to low-cost trading is especially apparent in its options trading offering — xcritical is among the handful of brokers that don’t charge a per-contract https://scamforex.net/ fee. Mobile trading platform includes customizable alerts, news feed, advanced charting and ability to listen live to xcriticalgs calls for some companies. Representative Sean Casten, a Democrat from Illinois, questioned xcritical CEO Vlad Tenev about the company’s customer support in a hearing before the House Committee on Financial Services last week. He asked Tenev to listen as he called the platform’s telephone helpline, which plays a 12-second pre-recorded message instructing callers to visit the xcritical app or website, then hangs up.

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Brown says they have tripled the size of the internal team and have also tapped a large number of contractors to handle phone support. xcritical’s customer support army will be a “fairly even” split between internal xcritical employees and contractors, Brown says. Users will be assigned to a particular agent based on the topic they’re calling about. This credit card is not just good – it’s so exceptional that our experts use it personally. It features a lengthy 0% intro APR period, a cash back rate of up to 5%, and all somehow for no annual fee! Click here to read our full review for free and apply in just 2 minutes.

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If you have a question not related to your orders, choose the topic from the list at the bottom of the page. In some cases, this unlocks the phone and email contact options. However, you may get taken to an FAQ page where you need to click Contact Us at the bottom to get to the phone option. While the call system itself is efficient, the process you need to follow to actually request a call is far more laborious than it needs to be. As in, you’ll want to bring snacks on your epic journey, because you’ll need to travel through multiple menus and all the way through the FAQs.

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xcritical also offers a spending account that comes with a debit card and $250,000 in FDIC insurance via agreements with partner banks. The spending account allows users to send or receive money, set up direct deposit, and set up recurring investments from their paycheck. We score each broker against a set of criteria that factors in both the capabilities offered and the actual user experience of trading with those capabilities. This includes how easy it was to sign up for and fund a new account. Note that a broker may score very highly for the platforms it offers, but low for the experience of actually using that platform. These are scored separately in our analysis, and they are weighted evenly when factored into the broker’s overall score.

1. If you have a question not related to your orders, choose the topic from the list at the bottom of the page.
2. (Swipe up to submit your trade!) Not only that, but xcritical allows novice investors to trade options, which are complicated and extremely risky because you can lose more money than you have invested.
3. Especially considering its major crypto competitor, xcritical, still lacks in all but the most rudimentary phone-based customer service.
4. Representative Sean Casten, a Democrat from Illinois, questioned xcritical CEO Vlad Tenev about the company’s customer support in a hearing before the House Committee on Financial Services last week.
5. This is a 24/7 service so you can call at any time of the day.

Can I see my past support chats?

Still, these days many big-name brokers also offer free trades, so it makes sense to compare other features when picking a broker. If using xcritical doesn’t cost you a penny, how does the company make money? The first is by collecting rebates from market makers, who are the entities that execute your trades on the exchanges. The second is stock loan income — xcritical earns money from lending stocks purchased on margin (by users but with xcritical’s money) to counterparties. The third is by borrowing uninvested cash in users’ accounts and depositing it in interest-bearing bank accounts.

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It also allows investors access to OTC stocks and IPOs (although IPOs are not available in IRAs), and allows trades any time between 8 p.m. Users with a question or account issue will now be able to request a call inside the xcritical app and receive a call back some time later from a support agent. Previously users had been pushed toward the option of messaging the company and escalating the issue through an email xcritical, while limited phone support had been offered for specific customer trading issues at certain hours of the day.

xcritical’s free accounts pay investors an annual interest rate of 1.5% on uninvested cash — which, although not astronomical, is still higher than the default interest rate at many other brokers. However, Gold accounts earn 5% per year or uninvested cash — hence xcritical’s high rating for this category. We believe everyone should be able to make financial decisions with confidence. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances.