Here are a few reasons why I personally do not recommend trading.
1. Regulatory Concerns: Trading apps have faced regulatory scrutiny in several countries, leading to restrictions or bans on its operations in those regions. This uncertainty can be a risk for traders.
2. Security Issues: Despite having strong security measures, many trading apps have experienced significant hacks in the past. Although users were compensated, it raises concerns about the platform's security.
3. Complexity for Beginners: The platforms offers a wide range of trading options, which can be overwhelming for new traders. The interface, while feature-rich, might be confusing for those not familiar with advanced trading tools.
4. Customer Support: Some users have reported issues with trading apps customer support, noting delays and difficulties in resolving problems, which can be a critical issue in fast-paced trading environments.
5. Withdrawal and Deposit Issues: Users occasionally face problems with deposits and withdrawals, including delays and technical issues, which can be frustrating and potentially costly.
6. High-Volume Trading Fees: For traders dealing with high volumes, the fees can accumulate, and there are other platforms with more competitive fee structures.
7. Legal Risks: Depending on the jurisdiction, using trading might pose legal risks if the platform is not compliant with local regulations. Traders need to ensure they are not violating any laws by using the platforms.
