ANSWER
Dear Investor,
We do not recommend the platform SmartyTrade as it lacks valid proof of regulation.
SmartyTrade fails to disclose any regulatory details or licensing information typically required of trading platforms, merely claiming to be operated by Omla LTD, registered in the Marshall Islands. Although we located this entity in the Marshall Islands Registry (IRI) database, its status is officially listed as Annulled. Furthermore, even if this registration were still active, the Marshall Islands IRI is not a government agency or financial regulator and does not oversee foreign exchange activities. This registration merely grants International Business Company (IBC) status, which does not constitute a valid broker's license.
Consequently, SmartyTrade operates without regulation or a license, presenting a significant risk of fraudulent activity. Therefore, we strongly advise you to avoid any engagement with this broker.
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