Smart Trade CFD Review – Beware of This Confirmed Scam Broker

As of May 2023, the broker (Smarttrade-cfd.com) has ceased operations. But you can read the article to avoid falling for similar scammers.

Is Smart Forex Trading Scam?

Smart Trade CFD claims to be a brand owned by Vie Finance, an EU-regulated trading company that is licensed and regulated. We know that Estonia is an EU member and their records indicate that the address is in Estonia. Our research however has revealed something entirely different.

Vie Finance, a Greek-based brokerage that operates under Fortissio or TaoTrade, is located in Greece. Vie Finance’s official website, viefinance.com does not mention Smart Trade CFD. Now that we’ve broken it down, the next question is: What about Smart Trade CFD regulation. This website and Titan CFD have the exact same layouts and claim to be owned by Vie Finance. But, we don’t know who is behind the scenes because there are no regulations or legal documents.

A brokerage house must adhere to ESMA laws if it wants to offer trading services within the EU. The ESMA directive states that retail traders can only leverage less than 1:30. Smart Trade CFD broker offers FX pairs up to 1:1000.

If you have any questions about this trading scam or any other, please let us know.

Smart Trade CFD is fraudulent and claims to be owned in part by Vie Finance, a legitimate Greek company. If the claim were true, Smart Trade CFD wouldn’t be on the warning lists of CONSOB or Finanstilsynet, two EEA regulators.

Broker pretends to be authorized

Smart Trade CFD, as the name suggests, is a Vie Finance brand. Their license is with the Greek regulator, HCMC. This allows them to operate in other European nations, including Estonia.

These false claims have earned Smart Trade CFD a reputation for being a scam. We want to warn you. The brand is anonymous and can provide trading services from countries offshore where financial laws are almost non-existent. It might prove difficult to pursue legal action.

Warnings from the government against Smart Trade CFD Scam

In November 2022, Italian regulator CONSOB expressed concern about Smart Trade CFD. It was also found to be an abusive financial intermediary site, according to the warning. The authority added both smarttrade-cfd.com and their page platform.smarttrade-cfd.com to the warning list.

Later, the same warning was republished in Norway from Finanstilsynet. This is the official proof that we made in our Smart Trade CFD review.

Where are Smart Trade CFD Scam Victims Living?

This is the main area of activity for the firm:

• Italy
• Albania
• France
• Germany

Although the domain was active since July 14, 2022, they added another domain, Titan CFD in September. It is clear that the scheme will not stop. They plan to change the domain name and continue with the same fraudulent operations.

How does this fraudulent company find victims?

One scheme firm may find victims in many different ways. The most popular is via Google Ads and social networking promotions. We often see fraudulent marketing campaigns that promise $1K per day and other guaranteed returns in a matter of hours.

After the victim clicks the ad the phone number and email of the broker enters the system. The support team attempts to convince the victim to make a minimum deposit and invest their money. An alleged account manager will then be next in line to extort money from them if they believe the tale.

These are highly skilled salespeople with ready-made pitches. They will solicit money every week, claiming there is an immense opportunity waiting. They will show fabricated trades and exaggerated results to prove their abilities.

Scammers may approach you via social media accounts, even if your account has never been used for online trading. You can be contacted by them via direct messages or comments, and they will offer you the opportunity to make thousands of dollars in a matter of hours. Ponzi scams and trading are often linked, so these people can offer bonuses to get new clients. This is why the contact.

Supported Trading Platforms: Available Trading Software

The Smart Trade CFD trading platform has received high praise. Their WebTrader website claims that it is the “premier trading platform in the world” and the choice of millions of traders. In reality, however, we are not sure if it even exists.

After signing up, you’ll see a funny dashboard that allows you to submit documents and make deposits. There are no charts that indicate that trading is possible in the future. There are not mobile apps, but this browser-based, non-functional software is.

The broker does not offer third-party trading platforms like MT4, MT5 or cTrader. Each one proved to be reliable, safe and offer a wide range of trading tools.

What trading assets does Smart Trade CFD offer?

Here’s a list of trading assets for those who are still interested.

• Forex – EUR/USD and GBP/AUD. NOK/ILS
• Indices – DJIA, DAX30, AU200
• Shares – Alibaba, Nvidia and Intel
• Commodities – gold, corn, natural gas
• Cryptocurrencies – SHIBA, MATIC, ADA

This information is only available from the broker’s website. It is impossible to confirm this information as the platform does not have any functionalities.

Comparing Trading Accounts – What is the Difference?

There are 3 types of Smart Trade CFD accounts:

• Micro – Starting at $100
• Standard – Starting at $250
• Premium Starting at $5,000

Leverage can range from 1:00 to a ridiculously high of 1:1000. The initial deposit is also unclear. You will see that the account benefits are different from the above amounts. There are $200, $1,000 and $25,000 respectively.

What is a chargeback?

Chargebacks are a way for your bank to reclaim funds from the merchant. We recommend that you contact us immediately to initiate the process. In a free consultation, we will discuss how to get your money back immediately!

Smart Trade CFD: Video

Below you will find a short video about Smart Trade CFD. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Smart Trade CFD!