DriveWealth Reviews 39

I have HSA Bank, which uses Drivewealth as its HSA brokerage account. I dont recommend either. There are delays and errors placing orders for stocks using Drivewealth for me. Orders for full shares of stocks were executed as partial share buys, resulting in rejections of transfers in kind requests, the need to liquidate the partial shares, and potential tax consequences for me as a California resident.

DriveWealth is the brokerage arm for my HSA investment account at HSA bank. I want to move to Fidelity but DriveWealth repeatedly rejects the Transfer requests with no explanation. This has been going on for weeks.

I initially accessed their services through MyWallSt, which I now regret. They bounced me and other customer around and for a while I was stuck with Vest investments. These companies are unreliable and confusing. DriveWealth's customer support was slow, unclear, and often seemed unsure about their own processes. I ran into multiple issues with transfers, fees, and account management.

Honestly, there were too many problems to list in a single review, and the experience left me frustrated. Based on my experience, I would not recommend DriveWealth, Vest, MyWallSt, or any other platforms/brokers that rely on DriveWealth as the clearing firm.

Never use this broker. I was a shareholder of Orsted shares (before 16 September) and was denied my rights as a shareholder to the rights issuance. The broker lapsed my rights against my will, neither providing the option to exchange the rights for shares, or to sell them - as per UK financial regulations. As per financial regulations the shareholder should have been provided the option to either exchange or sell rights. I lost around 900 pounds as a result. I will be pursuing legal recourse.

I invested in stocks through DriveWealth/Revolut for 5 years, and everything went smoothly with great costs. I never had any issues.

This is the worst experience I've had with an investment firm. I've opened 3 support requests that are unanswered to this day, it's been 3 months. Following an ACAT transfer, I am simply asking them to send a the cost basis document to the receiving bank (this is a mandatory step per the ACAT regulations) which is a very simple ask, and no answer whatsoever. When asking Revolut wich uses DriveWealth as a 3rd party they tell me to ask DriveWealth. This is really the worst experience I've had with support.

was trying to move my money out of drivewealth just due to their incompetency. finally got to an account manager yousra hebeishy who berated me and told me lies about why money is on hold. come to find out this yousra character was SUED MANY TIMES in california for FRAUD by a company & she supported a convicted federal felon who STOLE $500K+ from investors in another scam before he went to prison. might have to file a suit unelss they release my money.

I never even heard of this company until I discovered recently that they reported stocks sales to the IRS in my name, using some random address! I’ve only used Stash and Robinhood. What is happening? I feel like no one is trustworthy at all, ever, particularly when it comes to money. People are just selling your personal info and trading your name. Now I have to track down this company to find out what is going on and ask them to correct it!

Can’t login. Can’t recover password. Now it’s disappeared from app store.

If I can give no star, I would give Drivewealth no star. You can never earn a dime with them and you can never cut your account with all kind of excuses they give you, and they charge you monthly fee. You will lose all your investment at last.

Very poor customer service. They have changes in their structure and basically tell everyone to either move accounts or sell all securities before 30 January 2022.

Contacted them. At first they were communicating, but no real action happened in the end. Started ghosting and updating already pending tickets.

Despicable, rude, irresponsible and unprofessional attitude. Happy they are closing anyway. Good luck with funding another job with this outlook on customer service.

Will never use them again and will never recommend to anyone.

I have drive wealth but always have trouble logging in or navigating the web page if anyone can help me alot of people will get the money

Drivewealth is providing great service for letting people invest into global stocks.

There are many hate reviews regarding information that Drivewealth support team doesn´t work and many topics are regarding withdrawing money back to our own bank accounts.

I had same problem twice for raising withdrawing order and after 4weeks of asking where my money is, it came back to Drivewealth account. The problem was not on drivewealth site at all, but on my own bank (in Czech) which require payment from USA to be set through correspondent Bank (located in USA).

So to avoid all next haters please ask first your own bank for providing corresponding BANK information (Swift and US correspond bank address) and in withdraw form there is one more line for "additional information" please write there "For Further Credit to your name + your own swift number.)

By this procedure I have recieved money within 2working days. Isn´t it great that we do have ability to invest and withdraw money throudh Drivewealth? I think that YES!

I have deposited amount from India and I have got the WIRE receipt from my bank saying the the transection got completed but the amount not reflecting in the Drive wealth account for last 10 days.
The partner broker Vested also not able to get any update from the drive wealth. very bad service.

I’ve been trying to withdrawal funds since April 23, 2021. To this date I has been impossible to DriveWealth to execute my order of an international wire transfer. I’ve been in touch with Victoria from support, she keeps telling me that they are looking into this. I've make a complaint to the SEC

not surprised by the low reviews no access to withdrawals. defiantly a scam, I came here for hope but its all lost....

Whilst DriveWealth is a valid brokerage, when you have an issue try getting help......its non existent, they never reply to support emails and they never answer the phone. If anyone knows how to escalate their appallingly bad service and get to speak to someone at Drivewealth please let me know.
They have my money but wont allocate to my brokerage account......I would avoid them if I were you.

I am surprised by such bad references.
Drivewelath isnt scam as many people write Many of you probably have zero financial literacy because you would not write such donkeys.DriveWelath is a registered broker-dealer by FINRA and SIPC, If DriveWealth goes bankrupt accounts are protected to 500000USD(250000 cash and 250000 securities).Regarding transfers to your borkerage account on their page is excatly written how long it takes when your money are credited to your accounts.By SEPA its up to 1-3 days and fee is 0,75%
When i send SEPA transfer from Slovakia money was credited in T+2 working day. Regarding tradeble stocks which people complaint hrere. On their page are criteria which stocks,ETF or funds fulfill.

US exchange listed (OTC securities are not available)
Market capitalization greater than $ 1 billion
If market capitalization is below $1 billion, then 3 month average daily dollar volume must be greater than $0.5 million
Exchange listed sponsored ADRs (American Depositary Receipts)
Non-leveraged ETFs
I would like to welcome more shares, ETF funds and closed end funds too , Would be good if to adjust the classification imposed not by market capitalization, but the average daily liquidity witch are at least a minimum of 30,000 pieces per day to meet for stocks , ETFs or CEFAfunds.Woudl be good if day added option trading (only covered call or secured put only). Regarding support. Sending email and mostly on the same day or next day i received answer. Isnt supper fast but its okey for me i do only buy and hold.regarding their app.Was deleted from google play app store (BeanStox).I have still this app its still buggy. When you buy fractional share app dont show fractional share on to 8 decimal places but only rounded to 4 which is pretty stupid as a person has to write down purchases and recalculate in case of sale in order to know how many fractional shares I actually have on 8 decimals. It would be good if they improve their web application, becose IT IS NOT POSSIBLE TO SELL FRACTIONALL SHARE there only full share you can sell FIX IT and add dark background.
Overall i give them 4 stars

Absolute scam. Only place too make money is IPOs,yet purchases are limited to usually just a couple hundred “bots” scooping all the shares. They “reject” withdrawal requests for no reason. I even got a response from support stating it’s their protocol to reject withdrawal requests, just try again. STAY AWAY...