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Smart Trade Group Broker Review
An online trading company from an overseas nation called Smart Trade Group was established just a few years ago. It lacks financial regulation, which makes it potentially fraudulent like many others. Let’s check out the Smart Trade Group review and learn everything there is to know about the company.
Broker status: Offshore Broker
Regulated by: Unlicensed brokerage
Blacklisted as a Scam by: No Information
Owned by: Lencher ExPro LLC
Headquarters Country: Saint Vincent and the Grenadines
Foundation year: 2021
Supported Platforms: MT4
Minimum Deposit: $250
Cryptocurrencies: Available – BTC, ETH, XRP – total 34
Types of Assets: FX, commodities, indices, shares, cryptocurrencies
Maximum Leverage: N/A
Free Demo Account: Yes
Accepts US clients: No
Smart Trade Group Regulations and Security
As previously mentioned, Saint Vincent and the Grenadines is where the Smart Trade Group broker maintains its offshore headquarters. The company purports to be governed by the FSA and is owned by Lencher ExPro LLC. FSA, however, made it clear that they just offer registration services and do not offer any rules. A business should choose the local regulations for lawfully offering financial services in the nation of service. We came to the conclusion that this brokerage firm is not regulated after carefully examining FCA, ASIC, BaFin, and a few other Tier1 authorities.
Fund Withdrawal Issues With Smart Trade Group
Reviews of Smart Trade Group on Trustpilot and other reliable sources claim that this broker does not permit customers to withdraw their money. When you’re ready to invest, you’re more than welcome to do so with the $250 minimum deposit, and the broker’s staff will be happy to help you anyway you’d like—by phone, chat, email, etc. The problem arises, though, if you desire a payment and want your earnings to be in your bank. Your account manager will suddenly become overworked, workers will become unavailable, and your withdrawal request won’t ever be handled.
Traders About Smart Trade Group Scam
Traders are also having problems with their trading procedure in addition to withdrawal problems. Clients receive links from the broker to download AnyDesk, access their bank accounts, wallets, PayPal, and any other location where they may store money. Naturally, no one among them is happy with this treatment.
Avoid brokers that are like the Smart Trade Group scam.
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