Abstract：The British regulator FCA issued an official warning against SMARTEXFX on December 2nd!!!
Investors who are still trading forex at SMARTEXFX had better quit trading ASAP!!! Investors who have been deceived by this broker please contact WikiFX to help you recover your funds!!!
To make things straight from the very beginning, on our next screenshot you may check the recent warning issued on December 2nd against SMARTEXFX by the Financial Conduct Authority (FCA) in the UK. Take a look (source: https://www.fca.org.uk/news/warnings/smartexfx):
SMARTEXFXis NOT REGULATED - the fake brokerage is an officially exposed scam blacklisted by the British regulator FCA. In its publication, the authority states that SMARTEXFX is unauthorized, which practically means its an unregulated business entity offering illegal trading and investment services. Brokers with warnings on their names are scams and should be avoided at all costs!
WikiFX also paid a visit to the brokers official website to learn more.
SMARTEXFX wants you to believe it is based in New York:
Bear in mind that if “the broker” was truly based in the U.S. it should have also been accepted as a member of the National Futures Association (NFA). And SMARTEXFX is clearly not regulated there either – WikiFX made the effort and checked the NFA register but in vain, no company or broker by the name of“SMARTEXFX” was listed there.
Furthermore, SMARTEXFX claims to be authorized by the Cyprus Securities and Exchange Commission (CySEC). However, this claim also turned out to be a hoax – the broker holds no sort of license, and that can be proven by a quick check in the registers of CySEC. What a liar!
In a nutshell, it's not wise to invest in SMARTEXFX. The so-called brokerage is nothing more than an outright scam, which is in the spotlight of a recent investigation by the British financial authorities, who have already blacklisted the website for targeting UK customers without proper authorization.
WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed.
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