Oak Smart is an online platform that claims to be a global leader in asset management, offering financial trading services in the stock and cryptocurrency markets. Its official website claims to be regulated by the U.S. Financial Crimes Enforcement Network (Fincen), but it fails to provide concrete evidence or clear company information for users to verify. Additionally, the platform lacks transparency in several key areas, including account types, trading software, trading conditions, and deposit and withdrawal methods, raising doubts about its credibility.
Background and Regulatory Information of Oak Smart:
The official website of Oak Smart is https://www.oaksmart.com/#/, and its domain was registered on October 11, 2017. However, we found that this site first appeared on the Google network in 2024. The platform claims to be a global leader in asset management, providing comprehensive financial trading services. At the bottom of its webpage, it lists the URL of the U.S. Financial Crimes Enforcement Network (Fincen) but does not clearly state whether it is regulated by Fincen or provide specific company names for user verification.
Investigations show that although there is a company named "OAK Smart Investment Ltd." in Fincen's database, there is no available evidence to link it directly to this platform. Furthermore, Fincen is not responsible for regulating financial derivatives trading, so the platform might not be effectively regulated. Given this, it is advised that users avoid making deposits or conducting transactions on this platform to mitigate potential risks.
Account Registration Process of Oak Smart:
To register an account on the Oak Smart platform, users can follow these steps:
- Visit the Official Website: Go to Oak Smart’s official website and click on the registration button.
- Fill Out the Application Form: Complete the personal information application form as instructed.
- Submit Identity Verification: Upload the required identity verification documents to complete the registration.
- Deposit Funds and Start Trading: Once the account is verified, deposit funds and start trading.
Account Types of Oak Smart:
The Oak Smart platform does not disclose the types of accounts it offers. This lack of transparency prevents potential users from fully understanding the services and options provided by the platform, increasing the risk of investment.
Trading Software of Oak Smart:
Similarly, Oak Smart does not disclose the trading software it uses. For a platform that claims to be a global leader in asset management, the absence of this information further raises doubts about its credibility. Trading software is central to a trading platform, and users typically rely on its stability and functionality for effective trading operations. Failing to disclose this crucial information might indicate potential issues in technical support and trade execution.
Trading Products of Oak Smart:
The Oak Smart platform supports trading in the stock and cryptocurrency markets. However, due to a lack of detailed information, users cannot determine the specific asset classes available for trading on this platform. Such vague product information makes it difficult for users to make informed decisions when choosing a trading platform.
What Are the Spreads, Leverages, and Commissions of Oak Smart?
The platform does not disclose its spreads, leverages, and commission structure. The lack of this information severely affects users' understanding of the platform's fee structure and may result in unexpected costs during transactions. Additionally, not revealing these key trading conditions could hide non-transparent operations of the platform, increasing the risk for users.
Deposit and Withdrawal Methods of Oak Smart:
Likewise, Oak Smart does not disclose its deposit and withdrawal methods. For users, knowing the deposit and withdrawal methods is crucial as it directly relates to the safety and liquidity of their funds. The absence of this information suggests that users might face uncertainties and potential difficulties in fund management.
Customer Support of Oak Smart:
Oak Smart offers customer support through WhatsApp and Telegram but does not provide traditional support methods such as email or phone. These chosen channels appear informal and lack transparency, especially for a platform claiming to provide global financial services.
- WhatsApp: +1 949-243-7268
- Telegram: @oaksmartinvestmentl
Conclusion:
There are numerous issues with Oak Smart’s operations and information disclosure, particularly the lack of effective regulation and transparent trading conditions, creating significant uncertainty and risk for potential investors. Users should exercise caution when considering using this platform to avoid possible financial losses. Currently, Oak Smart is marked as "Suspected Fraud" on TraderKnows.
