Fsm Smart Revew is fsmsmart.com Scam or Legit Broker

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FSMSmart Review

FSMSmart

Reason to avoid: Offshore license

Listed Date: August 5, 2020

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Beware FSMSmart is a Non-Regulated broker. It is NOT SAFE to trade.

  • Our Review
  • FSMSmart User Reviews
  • FSMSmart News
  • Company name: FSM Smart Limited
  • Registration/license: Marshall Island

Is FSMSmart a scam or legit broker?

No, it is not safe to trade with FSMSmart. Olymp Trade is own by FSM Smart Limited. The contact address of the FSM Smart Limited is in Switzerland, according to the website. Although, the company is actually registered on the Marshall Islands, the popular offshore destination for forex brokers.

Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, ProFxPremium and more.

Moreover, FSMSmart has beenblacklisted by Swiss FINMA and New Zealand’s FMA, which stated that FSM is making false and misleading claims that they are a registered financial service provider in New Zealand when they are not and also FSM is making unsolicited calls to New Zealand residents and offering to trade in financial products, such activities are prohibited in New Zealand.
3 August 2020, FMA

We have heard brokers Marshall Islans deny traders withdrawing fund. We have feedbacks from traders that they cannot withdraw money. You can read the feedback here.

We advise all investors and traders avoid FSMSmart and other brokers from Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as etoro and plus500.

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FSM Smart Review

On March 26th we tried to access FSM’s old website, and it is not working. Their new website is at https://www.fsmsmarts.com/.

For complaints or withdrawal issues, read this.

Warning! This Broker is NOT Licensed…

Only invest with a legal broker, look here

FSM Smart Reviews

Forex Investors and Crypto Traders at the broker FSM Smart can use any of the MetaTrader4 Desktop, Tablet or Mobile App trading platforms. Their list of available underlying assets for trading is officially over 600 assets. They have Forex / Currency pairs, along with Commodities like Gold and Silver, Stocks, Market Indexes and Crypto Currencies. In the demo version we could only see classic Forex pairs.

They officially offer four account types, and the difference between account types comes down to the spreads on instruments and leverage. Minimum deposit starts at $250, with 3 pip spreads and 1:400 leverage. Investors looking for greater leverage need a $10,000 account balance.

FSM accepts client deposits via: Credit & Debit Cards, Wire Transfer, Credit Voucher, Vload, BitCoin Cash, BitCoin, Ethereum, Litecoin and MPWP.

Automated Trading Robots

All Forex brokers that offer MetaTrader4 have the ability to add a free Expert Advisor (EA) plugin to their software which trades for you. If you are interested in trading signals software, read here.

(Just be careful, because using any automated trading software is extremely dangerous, and you can quickly lose your entire trading account.)

FSM Smart License & Regulation

The Scam Broker Investigator has reviews of hundreds of Forex brokers. The only way to know if a broker is legit or a scam, is by verifying their license.

FSM Smart is not a licensed broker! Various government financial regulators including Canada and New Zealand have warned investors about this company.

Listed in this brokers terms and conditions page is also a Polish company; Memphis Investments Sp. zoo. With the recent volatility in the markets, especially Bitcoin and Oil, investors are now very much aware of the importance of only trading with a licensed and regulated Forex broker.

Compare Brokers to FSMSmart

There are many Forex brokers to compare and choose from online, you can find reviews of highly rated Forex brokers here.

ForTrade is a smart choice of a broker for new investors. They are a licensed and regulated by the FCA & ASIC, look here.

Go and try a Free Demo Account, signup here.

Are you currently using this broker? Please share your experience in the comment section below.

FsmSmart Review: is Fsm Smart Scam or Legit Broker?

Fsmsmart is a Forex and CFD broker owned and operated by FSM Smart Limited, with an address at Hertensteinstrasse 51 Lucerne, Luzern 6004, Switzerland. FsmSmart broker contact phone number is +41435084931 and email address is [email protected]

FSM SMART Trading Platform

Trading platforms are the interface where the trading on assets such as commodities, currencies, stocks or indices are done. A good trading platform should have charting tools and indicators, it should also be easy to use and very fast in executing trades. FsmSmart broker offers the MT4 Trading platform which supports custom indicators and Expert Advisors. Their max leverage is 1:400

Withdrawal and Deposit Method

Fsm Smart withdrawal and deposit methods could be carried out by the following means: Visa, Bank Wire transfer, MasterCard, bitcoin, ethereum, Yandex Money, Qiwi Wallet. The minimum deposit is $250

License and Regulation

FsmSmart is NOT a licensed broker. This means there are no regulatory bodies that monitors their activities to ensure they stick to best practices. Complaints about most unlicensed brokers are withdrawal issues(not being able to withdraw your money) and since they are unlicensed and unregulated, no regulatory bodies can fight for you, so you are left helpless. This is a source of major concern.

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