Red Flags
18
247SmartFx
247SmartFx faces allegations of false regulatory claims, withdrawal problems, ineffective customer support, suspicious trading practices, and censorship of negative feedback, raising serious red flags about the platform’s integrity and trustworthiness.
Quick summary on 247SmartFx
247SmartFx has been associated with several critical concerns that raise red flags for potential clients:
False Regulatory Claims: The platform falsely asserts licensing by the UK’s Financial Conduct Authority (FCA) under a registration number tied to an unrelated company. Additionally, the Cyprus Securities and Exchange Commission (CySEC) has warned that 247SmartFx is unauthorized to offer investment services.
Withdrawal Problems: Many users report significant issues withdrawing funds, including unexplained delays, rejected requests, and account suspensions. These incidents suggest potential liquidity issues or intentional barriers to fund access.
Ineffective Customer Support: Traders frequently encounter unresponsive customer service, generic replies, and unresolved concerns, compounding their frustrations during critical situations.
Suspicious Trading Practices: Reports of irregular trade executions, abrupt price changes, and triggered stop-losses have led to suspicions of market manipulation, raising doubts about the platform’s integrity.
Censorship of Negative Feedback: Allegations of suppressing negative reviews and intimidating users who publicly share complaints suggest efforts to mask operational flaws and discourage transparency.
Intel Reports
by: Cameron Wu
Don’t fall for the fake promises. Their so-called FCA license is just a big fat lie. I checked. It belongs to another company. Totally dishonest.
by: Daisy Nguyen
At first they seemed legit, but now it's clear. This is NOT a real broker. They're faking regulations and tricking people. I lost 4k, and nobody answers. They even deleted my bad review.
by: Callie Zhang
Can’t believe I got scammed this bad, they kept delaying my withdrawal for weeks and now my account is locked??
Pros
Cons
by: Eli Foster
Unresponsive or generic replies to serious user concerns suggest a lack of professionalism and accountability.
by: Holly Coleman
If traders are struggling to access their own funds, it raises concerns about liquidity problems or deliberate obstruction by the platform.
by: Steven Simmons
Falsely associating with reputable regulators like the FCA and CySEC is a serious red flag. It signals potential fraudulent intent.
by: Mia White
Scam Alert!!! I invested a significant amount of money with 247SmartFX, but it turned out to be a complete fraud. They stopped responding to my emails, and I never received my returns. Avoid this platform at all costs
Pros
Cons
by: Ella Rodriguez
Worst Experience Ever ! I was lured into investing with their attractive offers, but it was a scam. They manipulated the platform to show fake profits, and I lost everything. Stay away from 247SmartFX!
by: Joseph Harris
Fraudulent Practices ..This company promised high returns on investments, but it was all a lie. They disappeared with my money, and there’s no way to contact them. Do not trust this platform!