Smpfxtrade marks itself as a multi-regulated broker operating with various authorizations from the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Belize Financial Services Commission (Belize FSC), and the Australian Securities and Investments Commission (ASIC). However, our thorough investigation found it either copies licensing data of real companies that have no connection to it or fabricates license numbers. This means Smpfxtrade is falsely claiming to be regulated to deceive unsuspecting investors.
Furthermore, the Commodity Futures Trading Commission (CFTC) has added Smpfxtrade to its warning list for illegal operations.
In essence, Smpfxtrade is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
Smpfxtrade marks itself as a multi-regulated broker operating with various authorizations from the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Belize Financial Services Commission (Belize FSC), and the Australian Securities and Investments Commission (ASIC). However, our thorough investigation found it either copies licensing data of real companies that have no connection to it or fabricates license numbers. This means Smpfxtrade is falsely claiming to be regulated to deceive unsuspecting investors.Furthermore, the Commodity Futures Trading Commission (CFTC) has added Smpfxtrade to its warning list for illegal operations.In essence, Smpfxtrade is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.