Fxsmartchaintrade Review 2024

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What is Fxsmartchaintrade?

Fxsmartchaintrade is a firm that has been flagged by the Financial Conduct Authority (FCA). The FCA believes that this firm may be providing financial services or products in the UK without their authorisation. This is a significant concern as almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised or registered by the FCA. The firm is not authorised by the FCA and is targeting people in the UK. As a result, individuals dealing with this firm will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so they are unlikely to get their money back if things go wrong. The firm’s address is listed as 30 Dukes Avenue, Hounslow, TW4 6BA. However, it’s important to note that some firms may give out other details or change their contact details over time to new email addresses, telephone numbers or physical addresses. The FCA advises individuals to deal with financial firms that are authorised or registered by them as it offers greater protection if things go wrong. They recommend checking the Financial Services (FS) Register to ensure the firms are authorised or registered. It has information on firms and individuals that are, or have been, regulated by the FCA. If a firm does not appear on the FS Register but claims it does, the FCA advises contacting their Consumer Helpline on 0800 111 6768. They also provide additional steps to protect oneself from scams. If an individual thinks they have been approached by an unauthorised firm, they should contact the FCA’s Consumer Helpline on 0800 111 6768. If they have been approached by a scam firm, they should visit the FCA’s contact us page. It’s worth noting that other sources have also flagged Fxsmartchaintrade as an unregulated Investment Company. Unregulated Investment Companies are not reliable and abuse the regulations. They are anonymous and can disappear any time without notice. In conclusion, Fxsmartchaintrade is a firm that individuals should be wary of. It’s always advisable to deal with financial firms that are authorised or registered by the FCA to ensure greater protection. If in doubt, individuals should contact the FCA’s Consumer Helpline for assistance.

What is the Review Rating of Fxsmartchaintrade?

Forexbrokersinfo.com is regularly checking the ratings of Fxsmartchaintrade at forex broker review sites.
Fxsmartchaintrade has been reviewed and rated by:
    The Weighted Average Review Rating calculated by Forexbrokersinfo for Fxsmartchaintrade is 0.

    What are the Pros of Fxsmartchaintrade?

    I’m sorry, but I couldn’t find any positive aspects of Fxsmartchaintrade. The Financial Conduct Authority (FCA) has issued a warning about this firm, stating that it may be providing financial services or products in the UK without their authorization. This means that customers will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so they are unlikely to get their money back if things go wrong. Another source also confirmed that Fxsmartchaintrade is not a trusted broker because it is not regulated by a financial authority with strict standards. Therefore, it’s recommended to only open an account with brokers that are overseen by a top-tier and stringent regulator.

    What are the Cons of Fxsmartchaintrade?

    There are several significant concerns associated with Fxsmartchaintrade, which potential investors should be aware of:. Lack of Authorization: Fxsmartchaintrade is not authorized to provide financial services or products in the UK. This lack of authorization means that the firm operates outside the purview of regulatory bodies, which can lead to a host of issues for investors. No Protection Schemes: Investors who engage with Fxsmartchaintrade will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS). This lack of protection can result in significant financial losses if things go wrong. Potential Scam Risk: The Financial Conduct Authority (FCA) has issued warnings about Fxsmartchaintrade, indicating that the firm may be a potential scam. Investors should be wary of dealing with this unauthorized firm. No Top-Tier Regulation: Fxsmartchaintrade is not regulated by a top-tier regulator. Top-tier regulators provide a level of oversight and protection that is not available with unregulated or poorly regulated firms. Risk of Financial Loss: Given the lack of regulatory oversight and protection schemes, there is a high risk of financial loss for investors who engage with Fxsmartchaintrade. In the context of forex trading, these concerns are particularly significant. Forex trading involves significant risk, and the lack of regulatory oversight and protection schemes associated with Fxsmartchaintrade can exacerbate these risks. Investors should exercise extreme caution when considering whether to engage with this firm.

    Is Fxsmartchaintrade Regulated and who are the Regulators?

    FXSmartChainTrade is a firm that has been flagged by the Financial Conduct Authority (FCA) in the United Kingdom. The FCA has issued a warning about this firm, stating that it may be providing financial services or products in the UK without their authorisation. It is important to note that almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised or registered by the FCA. However, FXSmartChainTrade is not authorised by the FCA and is targeting people in the UK. As a result, individuals dealing with this firm will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so they are unlikely to get their money back if things go wrong. Furthermore, BrokerChooser, a platform that reviews and compares brokers, also states that FXSmartChainTrade is not a trusted broker because it is not regulated by a financial authority with strict standards. They recommend opening an account only with brokers that are overseen by a top-tier and stringent regulator. Regulation is a crucial aspect of forex trading as it provides traders with a level of protection. Regulated brokers are required to adhere to strict standards and practices, including offering fair pricing, transparent trade execution, and a regulated trading environment. Top-tier regulators include the Securities and Exchange Commission (SEC) in the United States, the Financial Conduct Authority (FCA) in the United Kingdom, the Federal Financial Supervisory Authority (BaFin) in Germany, the Australian Securities and Investments Commission (ASIC) in Australia, and the Swiss Financial Market Supervisory Authority (FINMA). In conclusion, FXSmartChainTrade is not regulated by any recognised financial authority and therefore, it is advisable to exercise caution when dealing with this firm.