WikiFX Review: why you cannot trust Smartfxcapitals

On the internet you can find many websites that claim to represent regulated brokers with an established global presence. In some cases this is true, but in most it is not. Smartfxcapitals is a typical example of the latter. It is a scam website that aims to rip off inexperienced people looking for easy passive income online. Lets see in detail why it is in your best interest to stay away from the Smartfxcapitals.

First let us get to the basic facts. WikiFX finds SmartFx Capitals in the latest warnings list of the Financial Conduct Authority (FCA) in the UK. You may check the recent warning on the screenshot below:

“Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorized or registered by us”, the FCA warning reads. “This firm is not authorized by us and is targeting people in the UK. You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.”

WikiFX also visited the brokers official website for more details. Smartfxcapitals claims to be based in the United States.

To operate as a forex broker in the United States, a company must be registered with the Commodity Futures Trading Commission (CFTC) and to be a member of the National Futures Association (NFA). And there is no “Smartfxcapitals ” in the NFAs register.

Smartfxcapitals also claims to have licenses from multiple existing regulators such as the UK's Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

The FCA license is obviously a blatant lie given the warning shown above, and a check of the databases of these institutions shows that no such authorised broker exists. SmartFx Capitals is apparently not regulated anywhere!

Another proof that Smartfxcapitals is not a real broker is the fact that it does not have trading software. The website doesnt even mention this basic forex trading tool, and in the dashboard WikiFX only sees simple charts with current asset prices that have no trading functionality.

Now let's search “Smartfxcapitals” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX, Smartfxcapitals currently has no valid regulatory license and the score is rather negative - only 1.00/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In a nutshell, it's not wise to invest in Smartfxcapitals.The British regulator FCA has already issued a warning stating that Smartfxcapitals is an unauthorized fraudulent enterprise. 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.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!