Smart Options Capital is a very new binary options and cryptocurrency broker. Their website, smartoptionscapital.com, was created less than a month ago, on July 17, 2017. Obviously no real reviews can be found at this time from their clients. As a matter of fact, no reviews at exist about this brand. Additionally, traffic and popularity scores for this domain are not yet available on websites such as Alexa.com.
How then can we determine whether Smart Options Capital is a legitimate trading broker or just another online investing scam? It’s very simple, but first let’s take a look at what is offered on smartoptionscapital.com.
Who is Behind Smart Options Capital
If you want to contact the company who runs this site, you can leave a message on their contact form or email them at firstname.lastname@example.org. The name of the company, their address and telephone numbers are not provided.
A WHOIS Query did not reveal any information regarding the identity of the people behind Smart Options Capital. They actually are using a service called WhoisGuard which enables them to hide their identity from the general public.
We are able to learn from the Terms and Conditions page that they located in Dominica.
This Agreement shall be governed by and interpreted in accordance with the laws of the Dominica excluding that body of law pertaining to conflict of laws. Any legal action or proceeding arising under this Agreement will be brought exclusively in courts located in Dominica, and the parties hereby irrevocably consent to the personal jurisdiction and venue therein.
In their About Us page again no information at all about the company who is behind this site. They claim that their “first mission is to provide the highest level of profit to our customers.” There’s another worrying statement later on the same document:
The Smart Options Capital platform and account management enables all consumers to instantly start generating large high level gains. There is no need to trade for hours on end, no need to rely solely on your own trading to make the profit you need for a better life. Our management service will take care of everything for you.
So on the one hand, they offer a completely managed account, they then write that their
Services are available only to, and may only be used by individuals who have sufficient experience and knowledge in financial matters to be capable of evaluating the merits and risks of acquiring financial contracts via this Site and have done so without relying on any information contained in this Site.
So which one is it? Why do you need to have experience and knowledge if they take care of everything for you? Or perhaps they are referring to simply knowing how dangerous binary options trading is.
Deposits and Withdrawals
You can open an account with Smart Options Capital using the following currencies: USD, EUR, SGD, CAD, AUD and GBP.
Credit cards / debit cards: Visa, Visa Electron. Wire Transfer withdrawals incur a fee.
Like with any other broker, you must submit certain identification documents in order withdraw money. Processing time for withdrawals is up to 3 business days (keeping in mind they do not execute withdrawals on Mondays). Once a withdrawal is approved it may take 5-7 days for the funds to show in your account. Most people will only be able to withdraw once a month. Depositing more than $5,000 increases the number of available monthly withdrawals.
They also have dormancy fees so if your account is inactive for more than 3 months be prepared to pay $25 per month of inactivity.
The minimum withdrawal is 100 of the base currency of the customer’s account. Withdrawals will only be processed when volume in the amount of 10 times the deposit amount (trade volume must then be greater than the deposit value), are performed. Failure to execute this amount of trading will render the account as fraud, an attempt at fraud, or otherwise nullifies gains.
Wait… withdrawals will only be processed when volume in the amount of 10 times the deposit amount are performed. I had to write it again to really understand what they are saying here. So let’s say you deposited $1,000. You will have to reach a volume of $10,000 in order to withdraw… even if you didn’t take a bonus?!
Watch out for those bonuses… because they are going to want you to take one. Once you do, you will be unable to make a withdrawal until you reach “a minimum trading volume of 40 times for every $1 bonus.”
When a trader accepts a copy trader, they have an additional volume requirement of 40x the deposit amount to withdraw any funds.
Auto Traders and Smart Options Capital
If you were introduced to Smart Options Capital by an auto trading site, then you should be extra careful. They clearly write that “attempts at trading or placing a trade on Smart Options Capital.com not via the web site is deemed unwanted and a breach of terms. All ill gotten gains from such practice will be nullified and will render the account null and void.”
However, they apparently are affiliated with specific signal providers and they write that they “from time to time, may authorize the use of applications and they will appear white listed in the below which may be updated without the knowledge of our customers. The current list includes the web sites: www.binary-option-signals.com.” Seems like there’s some connection between binary-option-signals.com and Smart Options Capital. Alas, this site seems to be a fraudulent affiliate website promoting several binary options auto trading scams.
Smart Options Capital has a partners program and a Refer a Friend program.
The Micro Account requires a minimum deposit of $250. You get a 25% bonus, daily analysis by email, access to all educational material and weekly training webinars. They also claim to offer “elite signals.”
The Pro Account requires a minimum deposit of $5,000. The bonus in this account type is 100% (in a different place they say it’s 50%.) Here you get Skype signals as well as a choice of strategy and a welcome phone call by their junior staff and instant pass over to a senior agent for market advice…
Finally, there’s the Standard Account with a $10,000 deposit requirement and a 75-200% bonus. You also get access to a “Skype room strategies entry, along with a 10% lifetime loss insurance and 5% extra payout on your favorite asset for standard binary up down.”
The platform used by Smart Options Capital is web based and has binary and crypto tabs. In the binary mode, you can trade assets such as currency pairs, indices, stocks and commodities. It requires a Chrome, Safari or Firefox browser.
Expiries range from turbo (30 seconds, 60 seconds, 120 seconds, 180 seconds, 5 minutes), through regular binary expiries (10 minutes, 15 minutes, 30 minutes, 60 minutes, 2 hours, 4 hours, 5 hours and 6 hours) and up to longer expiries (end of day, end of month, end of year and more.)
As can be seen in the above image, they also have a copy trading feature.
The Crypto platform resembles Forex more than binary options. It generates trades based on your investment amount and take profit.
Full List of Assets
Currency pairs: AUD/CAD, AUD/NZD, AUD/USD, EUR/AUD, EUR/GBP, EUR/USD, GBP/AUD, GBP/CAD, GBP/USD, NZD/USD, USD/CAD, USD/CHF and USD/JPY.
Indices: NASDAQ, NASDAQ FUTURE, S&P 500, S&P FUTURE, TADAWUL, DUBAI, KUWAIT, BOMBAY SE, CAC 40, FTSE 100, HANG SENG, NIKKEI 225 and STRAITS TIMES.
Stocks: Amazon, Apple, Bank of America, Boeing, Citigroup, Coca Cola, Exxon Mobil, Facebook, Google, IBM, Intel, JP Morgan Chase and McDonald’s.
Commodities: Gold, Gold/EUR, Oil, Silver, Platinum, Sugar, Wheat, Corn, Coffee and Copper.
USDT: BTC, DASH, ETC, ETH, LTC, NXT, REP, STR, XMR, XRP and ZEC.
Ethereum: ETC, GNO, GNT, LSK, REP, STEEM and ZEC.
Monero: BLK, BTCD, DASH, NXT, BCN, LTC, MAID and ZEC.
Bitcoin: BTS, DASH, ETC, ETH, LTC, SC, STR, STRAT, XMR and XRP.
Smart Options Capital Review Conclusion
While the platform is great, the website not so much. There are many errors and lack of important information. Most troubling is that we’re not provided with a company name. And it’s not possible to find out who is behind this operation. We don’t know if this is a licensed company. It’s definitely not a regulated broker.
Even though we don’t have any proof that Smart Options Capital is a scam, we also don’t have any indication that this is a legitimate broker. Therefore, we would advise to seek brokerage services elsewhere.
A great idea would be to open an account with one of Michael Freeman’s recommended brokers. This will allow you to not only work with a reliable service provider, but to also enjoy the best signal service in the online investing industry!
If you can contribute to this review based on your experience, please leave a comment below!