Smart Trade CFD Review: The Truth About This Scammer

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.

The same is the case with Smart Trade CFD and this broker review of them will shine a light on all the manipulative tactics this investment scam uses.

Smart Trade CFD Regulation and Security of Funds

Smart Trade CFD is allegedly a Vie Finance brand registered in Estonia and fully regulated. Let’s first break down this information. Vie Finance is not an Estonian company. It’s a Greek-based investment firm operating as Fortissio and TaoTrade.

The brokerage has HCMC regulations and operates in Estonia and other countries under an EU passport. Thus, Smart Trade CFD is not related to this firm and, most likely, is not even based in Estonia.

On top of that, this fraudulent broker also managed to earn an official warning from CONSOB respectfully. With this said, it’s just best to stay away from them and other scam brokers alike.

Smart Trade CFD Trading Platform Overview

The broker 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, and 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.

Overall, the platform is very basic and most probably rigged since it’s not a new thing that many of these fraudsters like to make you believe that you made money so they can take even more from you.

Smart Trade CFD Account Types

In regards to the trading account types available, the Smart Trade CFD offers three. Here is the list of those accounts:

• Micro $200
• Standard $1000
• Premium $25,000

Now, the amount of $200 is not a lot of money, but in the case of Smart Trade CFD which is falsely pretending to be a regulated broker, it’s a lot. This is because fraudulent brokers like to use this tactic of asking in the beginning for little money and then robbing you of all you have.

Funding Options Available

Smart Trade CFD has mentioned on its website they offer the following methods as its deposit options:

• Visa or Master credit or debit card
• Astropay
• Cryptocurrencies purchased through EasyCrypto4U

Now, honestly speaking, there is nothing wrong with these deposit methods but there is when they are offered by an unregulated and licensed broker. On top of that, the company has no T&C, meaning we know nothing about deposits, withdrawal fees, and trading costs.

So, in case you got scammed by them or any other brokerage alike, getting your money back is possible. There is no need to feel embarrassed and reporting your scammer is a must!

The Fraudulent Techniques

There are many shady tricks brokers pull to get their potential clients to invest.

People can often be careless and leave personal information on the internet in hopes of securing the high profits that many ads promise. And once these investment scams get a hold of this information the harassment will likely start.

You will soon be overwhelmed with an enormous number of emails at first but then calls just so you will at least make a minimum deposit to this fraudulent broker. Be prepared to hear many made-up stories so they would appear more legit in your eyes.

Don’t feel ashamed if you have ever fallen victim to this type of deception, many people do, just be sure to report your scammer and file a complaint with your bank as soon as possible.

Smart Trade CFD Summary

In our Smart Trade CFD review, we tried our best to warn you against this scam broker and the fraudulent activities they pull off on a daily basis.

This Estonia-based broker offers their customers an opportunity to invest in forex, crypto, and CFD. However, some of the most basic information about them is impossible to find, such as an address, phone number, and email. This only indicates that you are dealing with fraud.

Think twice before taking any risks while investing money and keep in mind that this investment scam will demand at least $200 while legit brokers will ask for as little as $5 as an initial deposit.

FAQs About Smart Trade CFD Broker