ANSWER SmartBitOption is an unlicensed broker that we strongly advise against trading with, despite the seeming attractive deals it offers.SmartBitOption claims to be regulated by the US Commodity and Futures Trading Commission (CFTC), which is denied in a press released by the CFTC. You can find more information here.This broker also purports to be regulated by the Belize Financial Services Commission (Belize FSC) and the Cyprus Securities and Exchange Commission (CySEC), but our search for it in the registers of the aforementioned authorities found no matching records either, sugggesting that it is operating outside the regulatory framework.Due to its unlicensed status, SmartBitOption comes with significant risks, such as financial losses and identity theft. Therefore, we strongly suggest investors avoid unlicensed brokers like SmartBitOption to mitigate such risks, and instead opt for a fully regulated one.
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