SmartBitOption has been flagged by Commodity Futures Trading Commission for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I gave SmartBitOption a fair chance. After for roughly four months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.
Pros: Good analytical tools|Instant funding|Quick verification|Low minimum deposit
Cons: No live chat on mobile
Tried to withdraw my funds from SmartBitOption 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: Professional looking website
Cons: No regulatory oversight|Money disappeared|Fake testimonials
For anyone considering SmartBitOption, please be aware that this company has been flagged by Commodity Futures Trading Commission. 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: Appears in regulatory warnings database|Uncertain regulatory status
SmartBitOption locked my account without warning and demanded documents I had already submitted. for the past year and a half later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Multiple order types|Copy trading available
Cons: Search feature is basic
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that SmartBitOption has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Cons: Not registered with regulators|Unrealistic promises
SmartBitOption 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: Market news feed|Full transparency
Cons: Help articles are sometimes vague|Spreads widen during volatile periods
My withdrawal request from SmartBitOption has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Multiple order types|Social trading features
Cons: Email notifications too frequent|No phone support on weekends
I joined SmartBitOption while looking for alternatives to my previous provider and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Real-time alerts|Fast support response
Cons: Website design could be more modern