SmartFXBroker Review: Forex Scam

SmartFXBroker Review: Forex Scam

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SmartFXBroker ( is a Forex broker scam that waits to pounce on unsuspecting investors. SmartFX Broker is purporting to offer a powerful trading platform that is unparalleled in terms of quality. Smart FX Broker is claiming to offer anyone interested in signing up a market that has been simplified. Complaints have been sent to our help desk by investors who lost money with this broker. Read this detailed SMARTFXBROKER Review.

SmartFXBroker Review

SmartFXBroker Review:

What these scam artists have done is create a compelling website that easily entices the eye. And that’s what these fraudsters are after, to grab your attention. Homepage starts with moving images of market prices on a dashboard. This is purely meant to try and make their platform appear legit to the naked eye. Ensure you read this whole review as we help investors see what the naked eye can’t. This broker is full of crap and tricks to entice investor, read on.

Claims and promises have been used by scam artists in every scam platform that we have seen. SmartFXBroker is no different as they have used the same methods to trick users. Claim that they have a powerful trading platform is nothing but a lie. Promise that users will be using an intuitive and easy to use trading platform is just a ploy by scammers. Ensure you stay away from scammers who have no intention of offering safe trading practices.

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Who Owns SmartFXBroker?

According to the about us page, Smart Securities and Commodities LTD own this brokerage firm. Disclaimer reads that this firm is located in Vanuatu which means we are dealing with offshore brokers. Offshore brokers are dangerous partners to associate yourself with as they will steal your funds. Trusting offshore brokers is the last thing a broker would do since they are known to flaunt rules.

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SmartFXBroker is no different as this review will clearly reveal some of their law breaking habits. If you haven’t noticed, there’s no mention of the people who actually run this company. Who is the CEO or CFO of Smart FX Broker? Lack of this vital information means we are dealing with an anonymous broker. Anonymity is a dangerous partner when it comes to any online investment platform. Make sure to stay away from any anonymous broker.

Is SmartFXBroker Licensed?

SmartFXBroker Scam

An offshore broker wouldn’t dream of asking for a license from regulatory authorities. Offshore brokers never pass the standards required to offer Forex trading services. Disclaimer at the bottom of the page reads that this broker has been registered. This broker has even posted a registration number, 40491 as their registration number. Make sure not to trust what these brokers say as this is a random number. FSC does not register companies with this algorithm.

If indeed this broker has been properly registered, where are the copies of their registration certificates? It’s clear that we are dealing with a rogue broker who will do or say anything to sign users. A real broker posts registration certificates to purely show transparency in their services. This also helps users to properly verify that they are dealing with a properly registered entity. Ensure you stay away from brokers who fail to posts registration certificates and documents.

Platform Used.

SmartFXBroker is claiming to use MT5 trading platform. In order to test how well their platform works, we decided to download the platform. And this is where we faced our next hurdle. Download would not complete as it stalled at 50%. What this means is that we are dealing with an unstable platform. Unstable platforms are a hard nut to crack and also extremely dangerous to work with. This broker will leave users vulnerable to security threats.

Hackers will steal Credit Card information from unstable platforms in order to purchase goods and services. Imagine having to check your card balance and see that it reads zero? This is because hackers have used your card to buy expensive goods with your own money. This wouldn’t be the first time an unstable platform has led to Credit card theft.

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Deposit and Withdrawal.

Depositing money with this broker is made possible by different available channels. Users are depositing money with MasterCard, Maestro, Visa, and Visa Electron. This is not a legit reason to warrant anyone to sign up with this broker. There’s more than meets the eye after depositing money. Complaints sent by investors have centered on lack of withdrawal. This broker refuses to allow members to make any withdrawals.

A broker who doesn’t’ issue withdrawal approval is nothing but a scam. And this is yet another valid reason why SmartFXBroker is a scam. Why would a broker refuse members to make withdrawals? It’s clear that this broker simply wants to run away with funds. This is a scam tactic straight from the scam manual book. SmartFXBroker is giving lame excuses as to why users cannot make withdrawals. Make sure to stay clear of this broker.

Are Funds Safe with SmartFXBroker?

SmartFXBroker Fake Review

A broker who is not licensed and operating anonymously will never safely secure funds. It’s clear that security of funds is not guaranteed with Smart FX Broker. Have you noticed that the broker fails to disclose vital information to users? Where do they bank money deposited by users? It’s also possible that users are depositing money straight to owner’s personal bank account.

When it comes to segregation of accounts, this is not the case with SmartFXBroker. That’s not all, in case of bankruptcy; this broker will lose funds all at once. Lack of segregation means SmartFXBroker is pooling funds in one account. In case of the above mishap, members will not be compensated. SmartFX Broker does not participate in a compensatory scheme.

No Live Chat.

Another disturbing detail with this broker is lack of a live chat support team. Why would a broker who claims to have intuitive trading tools lack a live chat support team? It’s clear that this broker simply wants to remain anonymous. Make sure to stay away from this broker who lacks the required tools to have a conversation with members.

Is SmartFXBroker a Scam?

With all the evidence produced, there’s no doubt that SmartFXBroker is a scam. Make sure to stay away from this broker and sign up with reputable brokers. Mark all their emails as Spam and never click on any links sent by this broker. Hackers use these links to steal personal data from your computers. Warn your friends and relatives from signing up with this broker at once. Whoever signs up with this broker will end up losing all money deposited.

SmartFXBroker final Verdict.

SmartFXBroker Scam Review

Option we are left with is to add this broker to our scam blacklist. This is in line with our hope that relevant authorities will look into this broker and shut down their operation. Shutting down this website will greatly protect users from signing up with this lame broker.

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Finally, we wish you all the best in your Forex trading experience.

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