SmartOptions – Is It A Scam?

An Honest Review of My Experience with SmartOptions

First, as with all reviews and opinions that say or help shape whether or not a product, service, platform, etc. is a scam, always bear in mind that — even with mine — you’re simply taking in the experience and opinion of one person.  It’s whether or not you trust them and if what they’re saying makes sense to you.  So, that said, let’s get on with an honest look at the binary option trading site of SmartOptions.

Here’s the way this went down for me:

A guy who I shared a mutual “follow” relationship on Instagram began sending me private messages via that platform. He seemed nice enough. We talked about a bit of professional background, but, when I mentioned that I had a bit of prior experience with binary option trading (years ago, before much of the regulation was in place that people enjoy today) and really wasn’t looking to get back into that, the conversation shifted to more personal topics.

Now, since I tend to be a fairly private person anyway, there were boundaries, ya know?  And, when he asked for my number, I declined — as I always do.  I did offer to take his, however… which he never wanted to give. Hhmmm… He just said, “You may never call or text,” which I agreed was absolutely true. I guess he decided to never take that chance because he never gave me one. Anyway, I’m sure I shared some personal details about myself and my life, as I often do with people from various social media sites who connect with me.

Then, as luck would have it, another follower on Instagram asked my opinion about another person who was showing a lot of “testimonials” of people who never gave their names and whose faces you never saw, just counting out money… as if to say, “Look how much money I helped them get. Contact me. I can do this for you, too.” So, I attempted to message this person — who, ironically enough, only vaguely and intermittently engaged with me at all. This brought me back to the guy who I at least had a bit more engagement with.

I messaged him and began to ask more questions about what he did, how it worked, the company he’s with, and so on. He, too, was fairly vague, which I told him. He kept asking if I was [now] interested in trading, so I explained the situation and agreed to a small investment in exchange for his account management services (which basically means that I’d open an account, deposit some funds, and HE would work the trades, taking a 10% commission cut out of the profits, leaving me with the remainder). I went to the site, read things over, and even looked over the Terms and Conditions. (By the way, I did ask if they were regulated, which he said they were — in Cyprus — and provided a number.) Admittedly, I’ll tell you that some of the information didn’t jive, like:

  • He said it was US-based, but all the sites listed were outside the US — including the address used for the headquarters, which he explained by saying this was where one of the owners lived and the other areas were where “support” reps were, but he traders were all US-based.
  • He first told me the minimum investment was $550, but when I asked about a few of the “testimonial” posts on his Instagram page citing a $200 investment, he back-pedaled a bit and began asking how much I was willing to invest. We agreed on $200 as an experiment of what his services could render. (The site says $500, but when I asked him about the discrepancy, he told me to not worry about it, just deposit the funds, and he’d take care of it. Another hhmmm, right?)
  • He told me there was no “fine print”, to which I said, “There’s ALWAYS fine print.”  (I didn’t find anything in the Terms & Conditions that seemed out of a logical norm compared to other platforms I’m familiar with.)
  • He was in a hurry for me to open the account and get the deposit made so “… trading [could] begin”. I told him it would be done within the next 24 hours, and I’d let him know when it was.  That’s when things really became strange, to me.
  • The registration process seemed very limited compared to other platforms I’ve seen and registered with, requiring only a name, address, phone number, and upload of either a passport or driver’s license to verify identity. Certain drop-downs and other site functions were inoperable. He said there must be a glitch and he was sure IT was working on it.
  • The deposit feature wouldn’t work, and, if I wanted to do a bank transfer, no banking information was requested. Instead, the instructions say to EMAIL them. And, by the way, this area of the site is NOT https formatted… which I did point out to him.
  • I did find on this analytical and diagnostic site that this domain was just secured and erected in September 2017. The registrar address is in California (yet another location to try to make sense of!).
  • And, take note of the limited information and blurry graphics/logo on their site.  

This is really just a short list of various seemingly small things that began to give me cause for pause.

When I messaged him about these things, again, he cited website maintenance or IT upgrades as the culprit — BUT, he said, I could always use Western Union or Moneygram to send the funds because, after all, we just really needed to get the trading underway. Now, I ask you (as I did him): WHY would I do that?  I mean, I personally had no need to incur those fees or deal with the inconvenience of transferring money into or out of this account in that manner. (By the way, the credit card deposit option was disabled “in [my] country”. Doesn’t that seem odd for a US-based trading platform to not be able to accept credit card transactions from WITHIN the US? I mean, even the newer cryptocurrency platforms are able to do this!) Anyway, I digress. Let’s get back on track. 🙂

My most recent communication with this person was that I felt we’re at an impasse or stale mate of sorts and the more I saw and engaged in their platform the less trustworthy and stable I felt the whole situation was and, until these things were rectified in one way or another, I’d just have to pass on the “opportunity” to enjoy his binary option account management services. (In all fairness, I’ve no idea as of this writing whether or not he’s responded. I’ll be sure to update this post if he does.)

So, is SmartOptions a scam? Who can say for sure at this point? I can only tell you of my own experience, observations, and facts surrounding it all. What do YOU think?  Comment below… and certainly feel free to provide testimonials to the contrary if you’ve had positive, profitable experiences with this site and the people behind it.

Pondering Man

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