SmartX is a platform that deals with forex and cryptocurrency trading activities. The venture refers to itself as an award-winning entity. It also allows investors to trade automatically. The venture had a software creator that could customize any bot just for you. Additionally, customers can also choose to trade manually at times.
The company makes trading appear like a walk in the park and the easiest way to make money online. However, during our research, we found red flags that made us question the whole operation. Investment is a serious thing, and traders need to choose transparency ventures.
SmartX claims it has the ability to yield 1% daily. The firm brags that it has been able to generate 20% monthly ROI in the years they have been in operation. By 2021 the venture claims it has made an average of 10%. They should also tell clients the average drawdown to expect.
The entity is only talking of profits, while we all know cryptos and forex are volatile assets. Therefore, investors should also expect undesirable outcomes. We have seen several people being devastated after scammers make away with their funds.
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SmartX initial capital is $500 and an activation fee of $100. The venture shares 50% of its earnings with its customers. However, if you purchase their expensive packages, it lets you earn 90% of the profits. It would cost you $50,000 and an activation fee of $10,000. This is only a tactic that the scheme tries to make people deposit more funds in their system.
Moreover, this is the most expensive bot that we have seen. They do not have anything to show as we could not see their trading results. Why would anyone trust the venture blindly and give them access to their money? The company behind this scheme’s operation is PT Simbiotik Multitalenta Indonesia (PT SMI).
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If you ask us, this looks more like a laboratory rather than an investment entity. The name does not sound like a transparent one. The scheme is a dangerous entity that wants to leave many users high and dry. They are getting massive traffic, and this shows their plan is working in their favour.
If you research before depositing a find to any scheme, it could go a long way. You will understand better how a scheme operates. Companies like SmartX target innocent investors that lack adequate knowledge of the market.
The company wants everyone in the world to believe it is a trading scheme. However, this is not the case. Investors who wish to join the venture must be invited. The entity is using a referral program to trap in more innocent people. A genuine platform could not limit people from using their services.
SmartX is a pyramid scheme that will only pay as long as the money comes in their way. The market is volatile, and it is impossible to generate constant results. Be cautious of companies that state otherwise, as the majority of them end up being Ponzi schemes.
Another proof that this is a scam is that they are using incentives like promising investors cars. You will never have a legit firm offering such lucrative. The venture is also only accepting funds via digital currencies. Therefore, customers cannot recover their funds.
It is important to note that the returns that the company advertises are way too good to be attained for starters. It is, unfortunately, a fantasy that will draw in more victims to their doorstep. 10% to 20% is a fictitious return. You find that this is what some legit ventures generate in a year.
Furthermore, there is no business that would be so generous the way SmartX makes it appear. This is the venture that cares about helping traders attain financial freedom. Investment is all about statistics, something this entity fails to provide. They expect us to believe in their empty words.
A reputable trading software company presents their suite results. It helps in showing traders what to expect from the venture. Additionally, they also have a license. SmartX is a shady trading bot that lacks a regulatory form. Additionally, it is promoting brokers that are also operating illegally. The actual performance of the firm is unknown.
The risks which the entity exposes to investors are huge. Turning a blind eye to them could lead to losing all your savings. We suggest you only invest with legit investment schemes that are reliable and use proven strategies to generate returns to their customers.
SmartX features its office address in Korea, China and the USA. Customers can contact the support via email or phone whenever they have a problem. However, you should note that these are randomly generated addresses. The countries that the firm features have strict requirements for investment schemes that the scam cannot attain.
Therefore, you can expect unprofessional treatment from them. You should also never trust your personal information with the dirty venture. The people behind the company are nasty scammers, and they can misuse the data.
Some of the Ponzi schemes argue that the government cannot regulate cryptocurrency. This is true. However, investment schemes that are collecting funds from investors need to be regulated. It is illegal to run an investment firm without getting a license. It could lead to being put behind bars.
The parent company of SmartX is also unregulated. You must trade with legal entities as they segregate funds in separate accounts. Upon bankruptcy, you stand a better chance of being compensated. Unfortunately, dealing with scammers, do not give your money back once they exit the industry.
The scheme is also operating anonymously. Who will you go after the venture exits the market? The entity is also working with brokers that no one oversees their activities. You are gambling with your funds in this scheme.
SmartX is using unethical means to promote its business. The venture has a testimonial section on its website. It showcases happy clients that are pleased with their services. The messages are moving and could win the entity sales. Unfortunately, the venture is using stock images.
The marketers of the entity are also in play promoting the scheme as legit online. You should not be relying on baseless information. Look for client reviews on third party websites. If there are none, then check for proof of payment.
There is no evidence of anyone that has earned what the venture is promoting. Stay away from this Ponzi scheme that is determined to get traders money. There are better alternatives in the industry.
SmartX has a domain name registered in May 2009, and it is expected to expire in 2023. It appears they have been in the industry for years, but there is nothing to prove the entity is trading. They are getting their customers mainly from referral sites. The global internet traffic of the venture is also high. They rank at 452,228. Unfortunately, we do not know where most of their clients are coming from.
SmartX is a platform that investors cannot rely on to get passive income. We have elaborated on this and shown the reasons why you need to stay away from the entity.
You can try out these genuine and reputable cryptocurrency ventures. They are transparent and their results are verified. You can also read their customers’ feedback to know what you are signing up for.
Are the testimonial of SmartX legit?
No, you cannot rely on this information as the scheme is using stock images
Is SmartX licensed?
The entity is an offshore scheme that is not genuine
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