A recent surge in negative comments about Warren Bowie & Smith has raised concerns. Numerous victims have posted detailed reviews and complaints, accusing the platform of engaging in fraudulent practices.
Warren Bowie & Smith is suspected of operating through boiler rooms (a scam where salespeople pressure investors into buying high-return shares that are actually worthless or non-existent). The brand is accused by investors of using sophisticated tactics to ensnare their clients.
Initially, they appear kind and patient, guiding clients to deposit money and even allowing them to experience some initial profits. Attractive offers and trading conditions, coupled with impressive returns, are used to draw clients in. Once clients are immersed in the profitable atmosphere they've created, the company's true colors are revealed. They pressure clients to deposit more money, which ultimately leads to losses. Victims have accused them of manipulating trades and profiting from their losses.
An investor shared the experience with Warren Bowie & Smith. Advisers from the company called to advise deposits but consistently avoided in-person meetings. This cautious investor attempted to verify their office location in Dubai but was unsuccessful. Warren Bowie & Smith is not located in the building they claimed.
This investor’s statements prompted us to verify Warren Bowie & Smith’s legitimacy in this area. Their social media account on X portrays them as one of UAE's most popular online trading platforms, but there are no indications that they are registered with the appropriate financial regulators for their operations within the UAE. It seems they are not authorized to conduct business there.
Securcap Securities (MU) Ltd, a company licensed by the Mauritius Financial Services Commission (Mauritius FSC), confirms to manage the brand Warren Bowie & Smith. It's crucial to highlight that this company is registered as a “Discount Broker”, which means it is authorized to execute orders for clients without providing advice.
Warren Bowie & Smith also claims to be operated by Wanakena Ltd and Kalaminion Holdings Limited, neither of which are licensed by the Cyprus Securities and Exchange Commission (CySEC), despite allegedly being based in Cyprus.
The situation becomes even more alarming following the discovery of potential associations between these companies and three other brands: 70trades (70trades.com), XLNTrade (xlntrade.com), and A3Trading (a3t.live). All of these brands have received numerous negative comments and complaints online, accusing them of defrauding money using similar tactics. A3Trading has even received a warning from the Securities and Commodities Authority (SCA) for providing investment services without the required licenses.
These findings significantly undermine Warren Bowie & Smith's credibility and serve as warning signs of potential fraudulent activities.
Unfortunately, as of the time this was written, new complaints and negative reviews continue to surface about Warren Bowie & Smith, indicating significant risks associated with it. It is advised that investors exercise caution and refrain from interacting with it and any related brands. Always uphold vigilance and prudence in your investment decisions.