Is Tradesmart1 a Legitimate or a Scam Broker?
Tradesmart1 is a broker that isn’t only unregulated, but it isn’t honest about its location and licensing. Many of its clients are located in Greece, Cyprus and Albania. It claims to have locations in Cyprus and the UK. In that case it would need licenses from CySEC and the FCA to be considered as legitimate, but it has no license and isn’t even located in these places, but in Dominica in the Caribbean. There is no doubt they chose this location because of the lax requirements for financial licensing.
We Have Found Problems with Tradesmart1
This broker has been flagged by the Hellenic Capital Market Commission or the HCMC. Given what we have found out about this broker above, it’s obvious why the regulator has called out Tradesmart1. In addition, we notice that this broker claims to offer no commissions or fees, but if not, how does it make money? It has high minimum fees and a dangerously high leverage, which is unsafe for traders.
These Classic Red Flags Indicate Tradesmart May Be a Broker Scam
- No license
- No transparency
- Misleading claims
- Flagged by HCMC
- Negative reviews
What You Should Do If You Have an Account with Tradesmart1
If you currently hold an account with Tradesmart1 close it and demand an immediate withdrawal of all of your funds. If you do not receive a withdrawal from this broker contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!