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Smart Trader Review: is smarttrader.com Scam?

Smart Trader Review: is smarttrader.com Scam?

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A cloned platform, we had to investigate the Smart Trader (Smarttrader.co) review. They have cloned smartrader.com and want to confuse naïve investors that the two are similar. The cloned platform is based in India and has the same homepage as the real trader’s website. After conducting a thorough investigation, we found out that this platform is headed for disaster. From time to time, their website gets shut down by authorities only to resurface a few weeks later. Investors should read this entire post and spot the differences.

Smart Trader Review

About Smart Trader

Smart Trader is a trading platform that is out to steal from investors. They have made it their life’s worth to steal from naïve investors. Once you deposit funds with this platform, it is the last you will see of it. And this is the reason why no one should sign up with them. They are a bunch of scam artists who hide behind computers to steal from online investors. The platform must cease to exist and stop taking credit for another company’s success. They are making the real trading platform look like a sister company to a scam.

There are robust forex trading robots that are ideal for users. These robots have been designed to protect the interests of investors. With these robots, investors can make passive income with online trading. The robots are a favorite among experienced and newbie investors thanks to their vast experience. They are backed by the trading community and have a recurring user base. It is what every successful trader is using to get ahead of the trading world. Why don’t you try them out and start enjoying the fruits of using a transparent robot?

Everything about Smart Trader is an exact copy of what the other real platform offers. They have been closely monitoring the actual platform and even use their homepage banner. When conducting a review, we usually check on the credibility of the developers behind it. And we were expecting the platform to do better with creativity. They should have at least changed the theme of their homepage. The design alone gives an impression of a team that lacks the creativity needed in enticing investors.

Assets covered by the trading platform

Smart Trader Features

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They claim that their robot uses all trading instruments on behalf of clients. The assets found on the platform include Crypto, Forex, and Stocks. Other notable trading instruments include commodities, currencies, equities, and futures. They fail to mention the available currency pairs on the platform. And this is a bit disappointing because the platform targets experienced traders. An experienced trader will want all the relevant information before making any commitments.

Business owner

The platform has listed several people as the leading developers of the site. They include Daice Paul, who is the founder, Aman, who is the head of trading and Rahul. Tina and Smith are the people who we are introduced to as the back-end team of the platform. There is no current information on the developer’s trading background and history. Since this is a cloned website, we have reason to believe the platform is using fictional characters. There are no social media handles of such persons, which makes them unreal.

Comments from users

The only comments we saw in regards to this platform was on their YouTube channel. Their platform offers free video tutorials. The videos can be viewed by anyone and mostly give tips on trading. One of the main problems with the videos is that there is no live trading performance. We don’t see the platform working on a live account, which would help sell their credibility. Without the platform’s level of creativity, we are not convinced about their trading performance.

Domain details

When we take a look at their domain history, we learn that the platform is over three years old. The exact date the platform went live was 22nd April 2017. What is more shocking is that the platform seems to be selling other products before this date. They have made four changes on four individual servers over the past five years. It means that the platform was hosting other forex related products. Another probability is that the platform is changing ownership from time to time.

Features of Smart Trader

123 Trading Platform

They claim to offer better chart data, live marketing trading, and smart analytics. The platform boasts of having thousands of trading instruments for charting multiple assets. There are connections to more than fifty different brokers. We should mention that the platform is also promoting other Indian-based brokers. These include Zerodha, Upstox, and 5paisa. They also claim to offer up to date news and market watch. What we know is that the platform is targeting investors from India and Asia to sign up.

License and Registration of Smart Trader

Smart Trader is not mentioning any compliance on their homepage. Remember that this is a cloned website that has no transparency. They are selling the idea of a platform that is ahead of its time. Without a valid permit from authorities, investors are risking their deposits. The fact that the Indian regulatory body does not recognize this platform is cause for worry. There will be no insurance cover for any deposits made with this platform. And this spells doom for investors.

With a cloned website come numerous risks such as sudden closure of the platform. During our investigation, the website would sometimes go dark. Their homepage would read that something is happening soon. They claim to be working on their website to improve their brand presence. These are the reasons they give when their platform is down. The actual reason is that the platform is facing backlash from regulators. It is best to stay away from such a platform due to the risks involved.

Pros and Cons of Smart Trader

Available plans

Smart Trader Accounts/Plans/Subscriptions

Smart Trader is offering five plans for traders to choose from. The plans are an exact copy of the real trading platform smarttrader.com. We remind our readers that there is a massive difference between smarttrader.co and smarttrader.com. The five plans include Free, Plus, Prime, Pro, and Pro365. These plans come with a monthly charge of $14,$29, $99, and $199. The free account does not come with any charges and has no custom template. These accounts come with over 100 indicators.

Customer support

It did not come as a surprise when we noticed that the platform does not have a live chat. They also fail to give users a message board where users can leave their comments. The platform just provides a FAQ’s page, which is disturbing, to say the least. Users have to buy the plans first before getting in touch with support. Mark Gonzales is the name of the chatbot, which does not reply chats on time. One has to wait for years to get a response, which is not convenient for the day-to-day trader.

Trading performance and results of Smart Trader

When it comes to the strategies used on the platform, they just give video tutorials. They fail to explain how their trading platform works, which is a massive problem for newbies. The platform should have done a better job on these videos and strategies. Another problem with the platform is that it does not produce any valid trading results. There are no live results to compare the competency of the platform. And this is why we won’t be recommending this platform any time soon.

Scam or Legit Smart Trader

Smart Trader is a cloned website for a legit broker in India with the same name. The only difference is their domain name, where the scam’s website is smarttrader.co. Users should make sure they sign up with products that are legit and have a proven track record. With the developer of this platform being a fictional character, we won’t be recommending it. The platform is full of loopholes that are a financial risk to anyone who signs up. There has been no user who has come out to praise this platform. It remains to be seen if the platform will become legit.

Bottom line

With the evidence being out for all to see, we won’t be recommending the use of this platform. It is a clone trying to take advantage of another platform’s online reputation. Stay away from it.

Choose authentic Forex trading robots that have been tested by the trading community. These robots offer a realistic chance of making a reasonable profit margin. They are transparent and protect your investments. With years of trading experience, these robots remain a favorite among experts and the trading community.

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2 Replies to “Smart Trader Review: is smarttrader.com Scam?”

  1. The owners were tied to a big ponzi scheme and narrowly escaped federal prison. I think it would be important to bring that up in the review, the intent and character of these people are in question to say the least.

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