Smart Trade CFD is one of those brokers who pretend to be legitimate but, in reality, are not. If you want to start trading, finding a regulated brand is of utmost importance. Sometimes, illegal firms can post legal owners and pretend to be a part of a regulated business. That’s why it’s essential to know better than to trust what’s written on the website. This Smart Trade CFD review will expose the scheme.
| Broker status: | Unregulated |
| Regulated by: | Unlicensed brokerage |
| Scammers Websites: | smarttradecfd.com |
| Blacklisted as a Scam by: | CONSOB |
| Owned by: | Vie Finance |
| Headquarters Country: | Estonia (allegedly) |
| Foundation year: | N/A |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $100 |
| Cryptocurrencies: | Available |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:1000 |
| Free Demo Account: | No |
| Accepts US clients: | No |
Is Smart Trade CFD a Broker With a Good Reputation?
Smart Trade CFD is allegedly a Vie Finance brand registered in Estonia and fully regulated. Let’s first break this information. Vie Finance is not an Estonian company. It’s a Greek-based investment firm operating as Fortissio (fortissio.com) and TaoTrade (taotrade.com). The brokerage has HCMC regulation and operates in Estonia and other countries under an EU passport. Thus, Smart Trade CFD is not related to this firm and, most likely, not even based in Estonia.
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers have no money-back guarantee. Imagine investing your funds with a bank that has no supervision from the Central Bank and determines its own interest rates. You would not do it, right? That’s exactly why you shouldn’t invest your funds in Smart Trade CFD or similar bogus brokers.
In addition, we strongly advise you not to invest inZeraTrade,CXChainxbtandBrokerageafraudulent brokers. So don’t fall for these dishonest scam brokers!
Smart Trade CFD Warnings From Financial Regulators
Upon receiving numerous complaints, the Italian regulator issued an official warning against the Smart Trade CFD trading scam. According to the report, the broker operates illegally and targets Italian citizens. This warning was published on the 18th of July, so the fraud is still hot. Stay away, and don’t risk being defrauded.
Traders’ Experience With Smart Trade CFD
Smart Trade CFD doesn’t give quite a good experience. Investors pay their money expecting to profit from the financial market. In reality, this broker ensures to take as much as possible and block trading accounts. According to reviews, customers who submit withdrawal requests can no longer access their account with the Smart Trade CFD broker.
What Platforms Does Smart Trade CFD Offer? – Available Trade Software
Smart Trade CFD offers a basic WebTrader. While the firm announces “one of the premier trading platforms,” all you get is web-based software without advanced functionalities. You can see the complete list of trading assets, margin level, open or close a trade, and that’s about it. If you want to trade and earn anything, better find a legitimate investment firm offering reputable software such as MT4 or MT5.
All About Smart Trade CFD Accounts
You can choose one of the 3 Smart Trade CFD accounts:
While the amounts are advertised as we wrote, if you read the description of each account, you’ll find initial sums of $200, $1,000, and $25,000. Additionally, accounts differ in leverage, different trading instruments, and margin levels.
Smart Trade CFD Broker – Countries Of Service
According to our research, the firm mainly operates in:
- Italy
- UK
- Albania
- France
Smart Trade CFD Range of Trading Instruments & Markets
Depending on the account type, clients can trade in:
- Forex – EUR/USD, GBP/USD, GBP/EUR
- Commodities – gold, oil, gas
- Indices – NASDAQ, FTSE100, DAX30
- Shares – Amazon, Apple, Tesla
- Cryptocurrencies – BTC, LTC, XRP
So, you should avoid Invest Flow forex broker and similar brokers such asClearpoint Capital,Tower BridgeandCryptoSpotFX.
Lack of Trading Conditions
The firm has no Terms and Conditions, Privacy Policy, or any other relevant document. Thus, trading conditions are unknown. Investing your funds with unregulated firms is bad, but investing blindly without knowing about costs and conditions is even worse. Don’t waste your time with Smart Trade CFD. Find a legitimate broker and invest safely.
About Smart Trade CFD Leverage And Spreads
The company advertises leverage of up to 1:1000. While the EU and UK regulators have a limit of 1:30, in the US and Australia, this limit is 1:50. It’s not even close to what Smart Trade CFD offers. The spread allegedly varies between 0.0 pips and 1 pip, which is not bad, but we could not confirm it.
Smart Trade CFD Deposit, Withdrawal Methods, And Fees
The company has no T&C, meaning we know nothing about deposit, withdrawal fees, and trading costs.
What Payment Methods Does The Broker Accept?
According to the website, you can invest using:
- Debit/credit card
- AstroPay
- Cryptocurrencies purchased through EasyCrypto4U.
The only withdrawal method is wire transfer, which is quite odd since it’s not available for deposits.
Minimum Investment Amount
According to account types, the Micro account starts from $100. Yet, in the account description, it’s stated that the minimum deposit is $200. Whatever the amount is, it’s just not worth it. Avoid scam brokers and don’t accept any offers. You will be sorry later.
Customer Support – Communication Channels
This trading firm contacts customers through several methods, including:
- Phone calls
- Emails
- WhatsApp and Telegram messages
In addition, the broker advertises on social media and dating apps. Do not accept any offers from Smart Trade CFD for your own safety.
Scammed by Smart Trade CFD Broker? – Let Us Hear Your Story
If you or someone close to you has been scammed by Smart Trade CFD, let us know. We understand that losing your funds can be devastating, but seeking help is crucial. Contact our chargeback specialists and start the process before it’s too late.
But What Is A Chargeback?
A chargeback is a way for your bank to reverse the fraudulent transaction and recover stolen funds. Contact us via online chat to book a free consultation and let’s get your money back before the broker runs away.