SilverOak Chartered Bank / silverchrt.com has been flagged by Swiss Financial Market Supervisory Authority for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
After doing some research AFTER the fact (I know, I should have done this first), I discovered that SilverOak Chartered Bank / silverchrt.com is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Blocked my account|No legitimate license|Fake returns
SilverOak Chartered Bank / silverchrt.com 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: Customizable dashboard|Market news feed|Responsive team|Multi-device support
Cons: Website design could be more modern|Alert system is basic
SilverOak Chartered Bank / silverchrt.com advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Demo account available|Full transparency|Fast support response
Cons: Research section could be deeper
Do not be fooled by the professional-looking website. Behind the scenes, SilverOak Chartered Bank / silverchrt.com is disorganized and incompetent. I found them through a forum discussion and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Comprehensive tools|Good mobile app|Wide product range|Tax reports included
Cons: Currency conversion fee exists
I lost a significant amount because SilverOak Chartered Bank / silverchrt.com did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Segregated accounts|Excellent charting|Great customer service|Fast execution
Cons: Limited ETF selection|Email notifications too frequent