@SmartScalpFX 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.
I am in a dispute with @SmartScalpFX 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: API access|Automated trading options|Segregated accounts|Detailed reporting
Cons: Limited ETF selection|No crypto staking
For anyone considering @SmartScalpFX, 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
After spending for a couple of months now trying to make @SmartScalpFX work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Copy trading available|No hidden fees
Cons: Minor UI glitches occasionally
The mobile app from @SmartScalpFX is dangerous. I placed an order that showed as pending, so I placed another. Both executed and I was overexposed. When I complained they said it was user error. The app design is misleading.
Pros: Excellent charting|Detailed reporting|No hidden fees
Cons: No phone support on weekends|Website design could be more modern
Their execution during news is terrible. I had limit orders in place. When the news hit, my orders were not filled at the limit price - they were filled much worse. @SmartScalpFX said it was market conditions. Same news, another broker filled me properly. They are not honest.
Pros: Educational resources|Market news feed
Cons: Some tools only available on higher tiers
The hidden fees at @SmartScalpFX are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Fast support response|Wide product range|Personal attention
Cons: Research section could be deeper|No fractional shares
After doing some research AFTER the fact (I know, I should have done this first), I discovered that @SmartScalpFX 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: No regulatory oversight|Money disappeared|Fake testimonials
After seeing ads for @SmartScalpFX online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Conduct Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I requested my data from @SmartScalpFX 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: Full transparency|Risk management tools
Cons: No fractional shares|Search feature is basic
The spread at @SmartScalpFX is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them based on a colleague's recommendation and initially thought the platform was good - until I started trading seriously.
Pros: Market news feed|Fast deposits|Personal attention|Demo account available
Cons: Currency conversion fee exists