FSMSmart Review 2024

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What is FSMSmart?

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FSMSmart is an online forex broker that provides a platform for traders to engage in the trading of over 600+ assets. These assets span a wide range of categories, including Forex currencies, commodities, precious metals, shares, and indices. The company claims to offer high-quality services through its extensive knowledge and experience in the market. FSMSmart aims to deliver great value to its clients by expanding its current technologies that help the wide and volatile industry develop a sound and dependable trading system. FSMSmart offers trading through the MetaTrader4 platform. , a popular choice among forex traders due to its user-friendly interface and a wide range of tools for analysis and charting. This platform allows traders to monitor the markets, perform technical analysis, and execute trades. FSMSmart also provides a variety of account types to cater to the different needs and preferences of its clients. Each account type comes with its own set of features and benefits, allowing traders to choose the one that best suits their trading style and risk tolerance. However, it’s important to note that while FSMSmart claims to have been in the market for over 50 years, the broker is located in Switzerland but is not regulated by the local authorities. This lack of regulation could potentially be a red flag for some traders, as it means the services the company offers are not overseen by any regulatory body. In conclusion, while FSMSmart offers a wide range of trading options and a user-friendly platform, potential clients should be aware of the company’s regulatory status and do their own due diligence before deciding to trade with them.

What is the Review Rating of FSMSmart?

Forexbrokersinfo.com is regularly checking the ratings of FSMSmart at forex broker review sites.
FSMSmart has been reviewed and rated by:
  • 55brokers: 55brokers rated FSMSmart with a score of 30. This rating was last checked at 2024-01-06 02:49:03. Forexbrokersinfo multiplies the 55brokers rating times 10 to normalize the rating to 100.
  • Trustpilot: Trustpilot rated FSMSmart with a score of 38. This rating was last checked at 2024-01-05 21:41:52. Forexbrokersinfo multiplies the 55brokers rating times 10 to normalize the rating to 100.
  • Wikifx: Wikifx rated FSMSmart with a score of 19. This rating was last checked at 2024-03-16 23:16:03. Forexbrokersinfo multiplies the 55brokers rating times 10 to normalize the rating to 100.
The Weighted Average Review Rating calculated by Forexbrokersinfo for FSMSmart is 14.

What are the Pros of FSMSmart?

FSMSmart is an online forex broker that offers a range of benefits to its users. Here are some of the key advantages:. Wide Range of Assets: FSMSmart offers over 600 assets for trading, including Forex currencies, commodities, precious metals, shares, and indices. This wide range of options provides traders with a variety of investment and trading opportunities. MetaTrader4 Platform: FSMSmart uses the MetaTrader4 platform for trading. This platform is widely recognized for its user-friendly interface, advanced charting capabilities, and extensive ecosystem of add-ons. Low Latency and Tight Spreads: FSMSmart is known for its low latencies and tight spreads. These features can help traders execute their trades more efficiently and potentially increase their profits. High Leverage: FSMSmart offers leverage up to 1:400. High leverage can amplify profits, but it also comes with increased risk. Transparency: FSMSmart provides full transparency with its trading system. This can help traders make informed decisions and manage their risks effectively. Multiple Deposit Methods: FSMSmart offers multiple deposit methods, including credit/debit cards, bank wire transfers, and e-wallets. This makes it convenient for traders to fund their accounts. Please note that while FSMSmart offers several advantages, it’s important to consider all aspects of a broker before deciding to trade with them. Always conduct your own research and consider your individual trading needs and goals.

What are the Cons of FSMSmart?

FSMSmart, an online forex broker, has several drawbacks that potential investors should consider:. Regulatory Status: FSMSmart is unlicensed and not regulated by any authoritative financial company. This lack of oversight can pose significant risks to investors, as the services the company offers are not subject to the stringent regulations that licensed brokers must adhere to. Location and Registration: Although FSMSmart claims to be located in Switzerland, it is actually registered in the Marshall Islands. , a popular offshore destination for forex brokers known for its minimal requirements and regulations. Blacklisting: FSMSmart has been blacklisted by Swiss FINMA and New Zealand’s FMA. These regulatory bodies have stated that FSMSmart is making false and misleading claims about their registration status. High Spreads and Minimum Deposit Limits: FSMSmart has very high spreads and minimum deposit limits. , which could be a barrier for some investors. Limited Trading Instruments: The range of trading instruments offered by FSMSmart is limited. , which could restrict trading options for investors. Customer Reviews: Some customer reviews indicate that FSMSmart may be a scam company. There have been reports of the company denying traders the ability to withdraw funds. In conclusion, while FSMSmart offers a variety of trading options, the lack of regulation, high spreads and deposit limits, limited trading instruments, and negative customer reviews are significant drawbacks that potential investors should consider. It’s always important to thoroughly research any broker before deciding to invest.

Is FSMSmart Regulated and who are the Regulators?

FSMSmart is a company that operates in the forex market. However, it is important to note that FSMSmart is not regulated by any major financial regulatory authority. The Financial Conduct Authority (FCA), a regulatory body in the UK, has issued a warning about FSMSmart. The FCA states that FSMSmart may be providing financial services or products in the UK without their authorisation. As a result, customers who deal with FSMSmart will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), making it unlikely for them to get their money back if things go wrong. Furthermore, the Swiss Financial Market Supervisory Authority (FINMA) has also listed FSMSmart on its warning list. Despite FSMSmart’s claim of being in the market for over 50 years and providing unmatched and reliable services, the fact that it is not regulated by local authorities in Switzerland is a significant red flag. It is crucial for investors to deal with financial firms that are authorised or registered by regulatory bodies. This provides greater protection if things go wrong. Therefore, it is recommended to check the Financial Services Register to ensure that the firms are authorised or registered. In conclusion, FSMSmart is not regulated by any recognised financial regulatory authority, and potential investors should exercise caution when dealing with this firm.