SmartCoin has been flagged by The Dutch Authority for the Financial Markets for "Fraud and Other Types of Misconduct". The Netherlands Authority for the Financial Markets (AFM) warns consumers not to respond to offers from SmartCoin. This company is a suspected boiler room, a form of online investment fraud. SmartCoin has approached persons without being asked, to offer them investment proposals. A boiler room is... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: https://smartcoinud.com/.
The onboarding at SmartCoin 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: Clear documentation|Good analytical tools|Portfolio tracking tools
Cons: No dark mode on mobile|Website design could be more modern
Tried to withdraw my funds from SmartCoin 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: Blocked my account|No legitimate license|Fake returns
I opened an account with SmartCoin for over three years ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Transparent fees|Multi-currency support
Cons: Wish they had more educational resources|Email notifications too frequent
I requested my data from SmartCoin under GDPR. They sent a partial export that was missing months of transactions. When I asked for the rest they said it was a technical issue. Still waiting. They do not take data rights seriously.
Pros: Transparent fees|Detailed reporting|Market news feed|Regular updates
Cons: Charting tools need more indicators|Research section could be deeper
I am in a dispute with SmartCoin over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Copy trading available|Economic calendar|Full transparency|Regular updates
Cons: Withdrawal takes 1-2 business days|Some tools only available on higher tiers
Tried to withdraw my funds from SmartCoin 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: Withdrawal fees demanded|Communication cut off|Not authorized
SmartCoin had an outage that lasted several hours during a major market event. Not only did they fail to prevent it, but they also failed to communicate what was happening. We were left in the dark while our investments were at risk.
Pros: Comprehensive tools|Multiple order types|Easy to use platform
Cons: Some tools only available on higher tiers
I looked into SmartCoin and found they appear in the regulatory warnings database. The Dutch Authority for the Financial Markets has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
Several red flags with SmartCoin: (1) They promise unrealistically high returns, (2) They're not registered with The Dutch Authority for the Financial Markets, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly