TradeSmart1 is an outrageous scammer if we’ve ever seen one. Our goal is to provide evidence of that claim in the TradeSmart1 Review.
We’ve also found warnings issued against TradeSmart1. Keep reading to learn more about the unscrupulous broker’s regulatory status, trading platform, conditions, accounts, and funding methods in this detailed review.
TradeSmart1 has no valid Forex trading license. The scammer himself cannot decide on its headquarters – the website mentions Cyprus, the UK and the Commonwealth of Dominica.
We checked the databases of the UK and Cypriot regulators (FCA and CySEC) but didn’t find a registered entity by the name of Trade Smart 1 LTD. Disregard the “Company House” license that TradeSmart1 hangs on to, only the FCA regulation counts for UK financial market operations.
It’s still uncertain whether this is an offshore entity but we know for sure that the TradeSmart1 regulation is fake.
Therefore, it’s so much safer to trust properly regulated brokers that operate under the jurisdiction of, for example, the European Securities and Markets Authority (ESMA), which sets the rules for all EEA zone regulators.
TradeSmart1 is an unregulated scam broker that claims to operate in Cyprus. Several regulatory warnings have been issued against the broker that scammed traders from the US, India, Malaysia, Belgium, and Singapore.
The Cypriot address is fake. TradeSmart1 may be a shady offshore provider since it mentions Dominican governing law.
We’re afraid that won’t guarantee the safety of your investments either. Judging by the warnings and reviews, the TradeSmart1 reputation is pretty bad.
Based on the information we have, TradeSmart1 picked up clients from all over the world to defraud them. Here’s a list of countries where the illicit broker was active:
It’s good that the Belgian FSMA issued a warning to local traders about TradeSmart1. If you have any useful evidence of TradeSmart1 fraud, please help us urge other regulators to react to this cyber threat.
We could think of several ways TradeSmart1 looks for victims. The scammer could be buying Google ads or running fraudulent online marketing campaigns.
Or, be active on social media (Instagram, Facebook, YouTube, LinkedIn, etc). From our experience, we know that scammers often create shady private WhatsApp & Telegram chats and invite victims there.
Dating apps such as Tinder and Bumble aren’t safe either. Last but not least, TradeSmart1 could just be calling traders on the phone or sending deceitful emails.
Trustpilot is full of sharp complaints against the broker. Each review we’ve read screams ‘scam’. It seems that TradeSmart1 has been scamming traders since 2021. Here’s what one unfortunate victim had to say:
When you request a withdraw they will give you one if it is a very small amount…if you ask for a big amount or your whole amount they will just disappear like they did with me…
TradeSmart1 offers MetaTrader 4. This renowned platform revolutionized trading when it first came out in 2000. The producers – MetaQuotes, did a fine job in designing this cutting-edge trading platform.
MT4 offers a wide range of advanced tools such as automated trading, instant execution, multiple timeframes, in-depth market analysis, great charting, etc.
However, this particular software didn’t come from MetaQuotes but from Fx to All, an offshore company that distributes trading platforms to scammers. There’s another reason not to trust TradeSmart1.
TradeSmart1 offers mobile trading. MT4 is available for both Android and iOS but we strongly advise you not to download it.
The software was provided by a shady offshore entity and may be rigged, as some of the TradeSmart1 reviews suggest. Stick to regulated brokers with MT4 or MT5 platforms.
TradeSmart1 didn’t specify which instruments it offers, only the asset classes. Here’s a list of the broker’s trading asset classes:
We know nothing about the trading costs since TradeSmart1 didn’t disclose them on the bogus website. Spreads and commissions are a mystery.
Without a demo account, we weren’t able to check them for ourselves. Be careful if you see “ultra-low spreads” and “zero commissions”, it could be a ruse.
TradeSmart1 offers four different account types:
Each subsequent account type offers better perks than the last. We know that the leverage caps at 1:200, which is extremely high, usually offered by offshore brokers.
Keep in mind that high leverage most often equals huge losses, hence why the FCA and ESMA set a legal limit of 1:30 for retail clients.
No. TradeSmart1 didn’t include a free demo account. That means you have to open a live account, invest real money before even seeing the platform and trading conditions, and risk getting scammed. Given TradeSmart1’s unregulated status, the chances of this scenario are high.
Negative balance protection is a great feature. It prevents your balance from going negative if the market moves rapidly against you.
All FCA and ESMA-regulated brokers must equip clients with negative balance protection. We highly doubt that TradeSmart1 offers NBP.
The minimum deposit is 250 EUR. Despite credit card companies’ logos on the broker’s website, the TradeSmart1 withdrawal and deposit method is crypto (BTC and Jubiter, a shady crypto exchange).
Scammers love crypto transactions because they’re incredibly hard to trace, thus allowing the fraudster to remain anonymous. This was the final straw, don’t trust TradeSmart1.
If you’re having withdrawal issues with TradeSmart1, you must write a complaint. If the broker violated any terms and conditions, please let us know.
We can help you by reporting the scammer to the authorities. As for your lost money, our team of experts has got your back. Over here at Global Fraud Protection, we specialize in advanced crypto-tracing software such as CipherTrace.
If this broker steals your money, we can try to get it back. Please book a free consultation with us as soon as possible. We suggest Online Chat, it’s the easiest and fastest way.
No. TradeSmart1 has been blacklsited as a scam by several regulators. If you’re having issues with withdrawing money, call us.
No. There’s no free demo account available so you cannot practice.
Yes. TradeSmart1 included an Android and iOS version of MT4 but don’t download it.
MT4 is a great platform if provided by a valid distributor. TradeSmart1’s MT4 was provided by a shady offshore company.
No. TradeSmart1 has been blacklsited as a scam by several regulators. If you’re having issues with withdrawing money, call us.
No. There’s no free demo account available so you cannot practice.
Yes. TradeSmart1 included an Android and iOS version of MT4 but don’t download it.
MT4 is a great platform if provided by a valid distributor. TradeSmart1’s MT4 was provided by a shady offshore company.
The post TradeSmart1 Review – This Scam Broker Is Full Of Lies appeared first on Global Fraud Protection.
