SmartTop is not a regulated or licensed broker for traders even though it states offers that look good to be true. SmartTop claims it was established in 2018. However, when we checked its domain, we found it was newly created in May 2022. So how could it start its business in 2018? It is a red flag here.
Besides, SmartTop claims it is headquartered in Australia and has branches in Canada and Hong Kong. According to this info, we searched in several regulatory bodies, including:
1) the Australian Securities & Investments Commission (ASIC);
2) the Investment Industry Regulatory Organization of Canada (IIROC);
3) the Hong Kong Securities And Futures Commission (HK SFC).
However, we did not find any match results to this broker in the above watchdogs' registries.
The truth is, SmartTop is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like SmartTop and trade with licensed brokers.
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