Smart Global Options has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Tried to withdraw my funds from Smart Global Options and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
The onboarding at Smart Global Options was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: Great customer service|Regular updates|Helpful community forum|Transparent fees
Cons: Charting tools need more indicators|Wish they had more educational resources
If you are reading this considering Smart Global Options - run. I wish I had read more negative reviews after doing extensive research. I thought the positive ones were real. Maybe some are. My experience over since last summer has been so bad I feel obligated to warn others. Do not make my mistake.
Pros: Excellent charting|Copy trading available
Cons: Spreads widen during volatile periods|Limited demo account features
Smart Global Options seems more interested in acquiring new customers than taking care of existing ones. The marketing is aggressive but the product is mediocre. Once you are past the honeymoon period, the cracks in their service become very apparent.
Pros: Copy trading available|Real-time alerts|Good analytical tools
Cons: Slow to add new assets
Tried to withdraw my funds from Smart Global Options and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: No regulatory oversight|Money disappeared|Fake testimonials
I wanted to transfer my portfolio from another broker to Smart Global Options. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Good mobile app|Great customer service
Cons: Email notifications too frequent
For anyone considering Smart Global Options, please be aware that this company has been flagged by Financial Conduct Authority. This does not necessarily mean they are a scam, but it does mean they may not be authorized to operate in certain jurisdictions. I strongly recommend checking the official regulator website before making any investment decisions.
Cons: Flagged by international regulators|Due diligence required
I was about to invest with Smart Global Options but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Conduct Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Unauthorized firm|Found in IOSCO warnings database
The spread at Smart Global Options is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them while looking for alternatives to my previous provider and initially thought the platform was good - until I started trading seriously.
Pros: Dedicated account manager|Multi-device support|Fast support response|Fast deposits
Cons: No crypto staking|Cannot customize dashboard fully
Smart Global Options changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.
Pros: Segregated accounts|Great customer service|High security standards|Intuitive for beginners
Cons: No integrated tax optimization