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Smart Stock Options Review - is it scam or safe?

Smart Stock Options Review - is smart-stockoptions.com scam or good forex broker?

RATING: 1.2 / 0 REVIEWS Smart Stock Options
Smart Stock Options is not regulated. We cannot guarantee your money is safe.

Smart Stock Options is a binary options broker offering several account types, depending on how much you are willing to invest, with a variety of trading instruments and a seemingly attractive payout. Unfortunately this is not a regulated broker so if you are thinking about trading with them, be sure to read this review first.

 

Trading account  Min. deposit Max. leverage Spread
Bronze Account $300 n/a n/a

Silver Account

$1000 n/a n/a
Gold Account $3000 n/a n/a

 

Smart Stock Options Advantages:

 

A decent selection of trading instruments 

 

Smart Stock Options offers  nearly 30 forex pairs, some of which minor or exotic like USDSGD, USDZAR, USDRUB and USDTRY and also oil, gold, silver, platinum, coffee, sugar, stocks and bitcoins. If you like the idea of trading crypto assets, however, here you may also check our list of brokers, trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Good maxim payout

 

Unfortunately we were not immediately able to open a demo account and check the trading conditions Smart Stock Options offers first hand, and yet from their presentation we understand that the maximum payout is as high as 95% - a percentage, which is considered quite attractive. Still, we may also suggest that you also try a regulated forex broker, offering tighter spreads. Here is our list: 

 

>> Lowest spread forex brokers<<

 

Lots of payment methods

 

It seem like Smart Stock Options accepts payments in virtually all possible ways – from major cards like VISA and MasterCard, through bank transfers and e-wallets like NetellerSkrill, Perfect Money, WebMoney, OKPay, QIWI Wallet, Yandex, Payoneer and Vload, to altcoins like Bitcoin, Ethereum and Litecoin. Still, here you may also check our list of brokers, where you can pay with bitcoins:

 

 

 

Smart Stock Options Disadvantages:

 

Not regulated

 

Since the European Securities and Markets Authority banned the sale of binary options to retail clients in July 2018, we should admit that there are not many places left where a binary options broker can get a proper license. 

 

In the case of Smart Stock Options it turns out the broker is operated by the Seychelles based Algobit Ltd., which acts on behalf of the FGC - Finance Group Corp., a company based in Vanuatu, which as we understand is the owner of the broker.

 

In any case neither of the two companies has license and that is unfortunate, because regulation is the one key factor that can guarantee the safety of your funds.

 

Brokers, regulated by official financial watchdogs in Europe, Australia, Canada or the US, such as the Financial Conduct Authority (FCA) in the UK,  the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC) are obliged to follow strict rules. And with a FCA broker you will even get an insurance of up to 85 000 GBP, which will be payed back to you in case your broker happens to be insolvent. So here you may also check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Unusual withdraw conditions

 

Even without a bonus, to request a withdraw Smart Stock Options wants you to trade your deposit at least once and that is absurd. No legit broker will ever impose withdraw restrictions on your own money.

 

Trading bonuses as a pretext to refuse withdraws

 

And with a bonus things naturally get even worse – here you will have to reach a turnover of at least 300%, before you will be allowed to make any withdraw request. 

 

And besides the practice of offering trading bonuses has always been controversial, precisely because of the minimum trade volume requirements bonuses are usually linked to, and the fact that scammers usually use bonuses as a pretext to cancel your withdraw requests. 

 

It is not a surprise that all trading bonuses are prohibited in Europe and on many other regulated markets as well.

 

Unusual fees and commissions

 

Take a note that if you deposit funds with cards like VISA and MasterCard, Smart Stock Options will charge you a 5% commission, while if you do not trade for a single month you will have to pay an additional account service fee.

 

High minimum deposit requirements

 

As it turned out the minimum deposit requirement to start trading with Smart Stock Options is 300 USD and that is somewhat higher than the deposit most brokers would ask you for. Also, bear in mind that with some big and well known players likeFBS and IG you will be able to start trading with virtually 5 USD or even less.

 

Conclusion:

 

Smart Stock Options is a binary options broker, that says to be offering competitive payout with a nice selection of trading instruments. Unfortunately the broker is not regulated and that is a major setback. Bear in mind that trading with unregulated companies is associated with significant risks, so our general advise is to avoid such brokers altogether.

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Traders` reviews for Smart Stock Options

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