SMARTSPROFIT 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 had a dispute with SMARTSPROFIT and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Multi-currency support|Fast execution|Competitive fees|Dividend tracking
Cons: Minor UI glitches occasionally
SMARTSPROFIT locked my account without warning and demanded documents I had already submitted. since last summer later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: Fast execution|Tax reports included
Cons: No phone support on weekends
KYC with SMARTSPROFIT is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Portfolio tracking tools|Good analytical tools
Cons: Inactivity fee applies after 12 months
Do not be fooled by the professional-looking website. Behind the scenes, SMARTSPROFIT is disorganized and incompetent. I found them after attending a webinar they hosted and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Transparent fees|Excellent charting|Risk management tools
Cons: Search feature is basic
SMARTSPROFIT 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: Dedicated account manager|Low minimum deposit|Responsive team|Regular platform improvements
Cons: Email notifications too frequent