Smarttradershive 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 trusted Smarttradershive with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Transparent fees|Detailed reporting|Professional team|Multiple order types
Cons: Minimum deposit could be lower|Limited social trading features
Smarttradershive advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Clear documentation|Easy withdrawals|Instant funding
Cons: Research section could be deeper|Mobile app could be improved
Tried to withdraw my funds from Smarttradershive 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: Withdrawal fees demanded|Communication cut off|Not authorized
I lost a significant amount because Smarttradershive did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Tax reports included|Good mobile app
Cons: Email notifications too frequent|Account statements could be more detailed