Smith & Olsson

My card was charged twice by Smith & Olsson on the same day. I had to dispute it with my bank. Smith & Olsson then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.

I had high hopes for Smith & Olsson after a family member had a good experience, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.

Smith & Olsson has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.

If you are reading this considering Smith & Olsson - run. I wish I had read more negative reviews after doing extensive research. I thought the positive ones were real. Maybe some are. My experience over for over a year has been so bad I feel obligated to warn others. Do not make my mistake.

Smith & Olsson 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.

The onboarding at Smith & Olsson 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.

Do not use Smith & Olsson for anything serious. I used them since I opened my account last year for small trades and it was okay. When I deposited a larger amount and traded more, my account was flagged, my withdrawals were delayed, and I was asked to explain my trading. They treat active traders like criminals.

I wanted to transfer my portfolio from another broker to Smith & Olsson. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.

Smith & Olsson locked my account without warning and demanded documents I had already submitted. for the past six months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.

After spending for about eight months trying to make Smith & Olsson 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.