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Broker Warned By – Financial Conduct Authority

If you are searching for exchanging on the web, it is right to pick a good agent. Yet, first, make sure your representative isn’t a fraud forex broker or a fraud cryptocurrency broker. Picking a genuine and authorized dealer is the right way of getting a genuine exchanging experience. We chose to adopt the positive strategy to mindful individuals from trick merchants. The scam broker 2022 rundown will assist people with recognizing a scam broker.

Read SmartFX Review to know if this broker is legitimate or a scam.

SmartFX is an offshore broker which is not regulated by any reputed regulation authority in its region. The broker may operate in many countries without the regulation required by the reputed regulation authority in its country like CySec, ASIC, FCA, CNMV etc. But regulation can’t be the only reason for calling this broker as a scam. Many Complaints and negative SmartFX reviews and other possible scam features can also be the reason. Your funds may not be safe if you are trading with this broker.

Possible scam activities of scam broker SmartFX

Here are some of the possible reasons why we have flagged  this broker as a scam broker in this SmartFX review.

  • The broker may have made a number of false claims through its website.
  • The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
  • The broker makes continuous calls to the traders and urge them to invest higher and higher amounts.
  • The broker promises return which are too good to be true.
  • The risk warnings may not be disclosed on their webpage or that would be hidden.
  • The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are haven for the scam brokers.
  • This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals and ultimately you are not able to make withdrawal.
  • Broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes name and website URL without any notice to existing traders.

Negative SmartFX Reviews and Complaints

SmartFX has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2022.

Is SmartFX scam or legit broker?

ReportScam does not recommend traders to trade with SmartFX scam broker and your funds may not be safe with this broker and SmartFX review is negative. Instead look for regulated and reputed brokers who can really help in growing your investments.

To read more about Scam Brokers and their Review, Visit Scam Brokers 2022 Page.

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