SmartBTCFX (Smartbtcfx.com) is another CFD and forex broker to hit the financial world. Claiming to be located in Romania, we simply had to look at what it offers. Sadly, we have been receiving numerous email complaints from members who lost with Smart BTC FX. Scam Forex brokers are on the loose and we have to expose them for who there are. Read this eye-catching and honest review for more.
Let’s start with where the company is located, Bucharest, Romania. What this means is that we are dealing with an offshore broker who isn’t regulated. The difference with offshore brokers and other brokers is that the latter follow strict rules and guidelines set. Depositing with SmartBTCFX will only lead you to make loses.
Members who have accounts with this broker are up in arms over withdrawal issues. No one has been able to withdraw their funds since depositing. Withdrawing is as important as trading itself and as such, we believe we are dealing with scammers. As ardent Forex and crypto trading enthusiasts, we want to highlight the tricks used by these fraudsters.
Opening an account with SmartBTCFX opens you up to a lot of risks. First of all, you are required to give out too much information. One thing we noticed was weird was the fact that you had to give them your credit card details. Ladies and gentlemen, this is fraudsters who want to steal money from you. Why would they want you to give them your credit card information? The reason is that these are they want to steal your savings.
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Note: If your language is not English, you should use the language dropdown menu at the top of their page to select your language.
We noticed that with SmartBTC FX there’s no demo account to try out the platform. This is a real let down as normal Forex platforms dictate. A demo account is imperative especially to newbie traders since you get a feel of how the platform works. Never ever sign up with a platform that does not have a demo account.
Missing a demo account means that you may lose all your initial deposit at once. Demo accounts help users know the trading methods available on the platform. Its like buying a car without having to take it for a test drive. You should be able to know the inner working of the software. SmartBTCFX simply does not give us this option.
As a newbie, you should be able to use a demo account so that you can know how to trade. Dear readers, this is not the only problem we have with SmartBTCFX. Read on this honest and eye-catching review to find out the real deal with SmartBTCFx.
SmartBTCFX claims to offer users a unique trading experience. One claim that is easily visible is that you can get specific trading conditions. How they set up their platform to comply with the conditions remains a mystery. According to their website, they claim to offer high speed execution rates. In fact, the term they use is that their execution rate is “unmatched.”
All we believe is that these are all lies meant to entice you into joining their software. These are all lies since we cannot test their platform unless we do actual trading. Claims that they perform high execution trades cannot be confirmed. Due to lack of a demo account, none of what they say is legit.
Another claim this bogus platform throws at us is that they have a full range of trading tools. According to their website, they have multi-language support that caters for all. Some of the specific conditions that they claim to have are Auto chartists programs. According to them, these Auto chartists programs help to make confident decisions.
How can they claim to have a tool that helps people with confidence? These are all claims that cannot be verified. Only logical thing that a trading platform can do is help predict prices. Making people have confidence is a personal matter. SmartBTCFX trading tools are lies that we have to expose.
According to its website, Smart Btc FX offers four different trading accounts. Users can choose from Standard account, Classic account, Premium account and Gold account. Standard account holders get partial video access and a minimum deposit of $250. Classic account holders get partial video tutorials and a minimum deposit of $2500.
Premium account holders get full video tutorials and a minimum deposit of $20,000. Gold account holders get full video tutorials and a minimum required a deposit of $50,000. One thing we noticed is that these accounts offer both fixed and variable spreads. Why not offer real spreads for all customers? We believe this is a ploy to lure you into signing up with them.
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On their homepage, members are promised 100% insurance no matter the amount of deposit. You should be careful with this type of comment since its full of lies. Remember that this is an offshore broker and as such, doesn’t follow rules set. It means that they don’t participate in any compensatory scheme.
Once you lose money with SmartBTCFX, that’s the last of it. No one can help you recover it and authorities too will not be blamed. In fact, you might be charged with aiding and abetting Forex fraudsters. Avoid all these troubles by signing up with approved and tested Forex brokers.
Another thing that we must point out is that if they guaranteed 100% insurance, where are complaints coming from? These people are posting scathing comments and it says it all. Dealing with fake brokers will leave a bad taste to you.
With this Forex platform, members are promised insane bonus packages after depositing. You should know that this practice is illegal in Forex trading. Offering bonuses have been termed as illegal by the regulatory bodies. The reason is that when you are about to withdraw money, brokers demand their bonuses back.
Why issue a bonus if you will later use it against the client? This is why we are against anyone signing up with SmartBTCFX.
Without a doubt, SmartBTCFX is a scam that is stealing from unsuspecting Forex investors. The best thing you should do is steer clear from any promotional messages urging you to join. A lot of people have lost money with SmartBTCFX and you don’t need to be another victim.
The evidence we have shown is enough to warrant us to blacklist SmartBTCFX. We demand that this platform is investigated by relevant authorities and the site brought down. No one should face the agony victims are facing due to SmartBTCFX.
Signing up with trusted and recommended Forex brokers that trading community use is the way forward. What you get from professional Forex brokers are unmatched services and quality. Reputable Forex brokers offer comfort and safety. This is what all of us need.
Remember to trade safely and we wish you all the best.
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