SMT Capital Review – Regulators Got A Bead On These Online Thieves
SMT Capital Review – Regulators Got A Bead On These Online Thieves

Fraudulent websites have particularly catchy and captivating phrases and imagery that motivates inexperienced Forex newcomers to invest and fall for the dirty tricks.

Too bad for them, it doesn’t work on prominent regulatory bodies that publish warnings on such schemes. In this SMT Capital review, we’ll discuss one unscrupulous project that you should be especially cautious of. 

Regulated by: Unregulated Forex Broker
Is This Company Safe? No, this company is a proven scam, so they aren’t safe in the slightest!
Known Websites: smtcap.com
Have Warnings from: ASC, CSA, CONSOB, IOSCO
Registered in: Switzerland (alleged)
Operating since: 20.09.2023.
Trading Platforms: MT5
Maximum Leverage: 1:200
Minimum Deposit: $1,500
Deposit Bonus: Up to 75%
Trading Assets: Forex, Crypto, Stocks, Commodities, NFTs
Free Demo Account: No
How to  Withdraw from This Company? Careful when choosing your Forex dealer! Contact our professional chargeback team for help with payouts.

Regulatory Warnings Say It All

Simple, yet solid reason why this suspicious business couldn’t be regulated is the fact that FINMA, supervisory authority in Switzerland, has not licensed them. It could very much be that the brand is not even based where they claim to be. We’re most probably discussing an offshore scheme with no license or legal registration. 

While going through the registers of FCA, ASIC, NFA, SRO and others, we found an ASC, CSA, CONSOB and IOSCO warning.

We’ve previously exposed GCI Financial, which operates with the same goal of earning by robbing customers. That’s why they do not provide the appropriate fund safety in form of segregated accounts, compensation plans and negative equity protection.

Extortion Strategy At Work

The site smtcap.com did not exist prior to September 2023, as we may see in the WhoIs database. Many of the victims live in these countries:

  • Netherlands
  • United Kingdom
  • United States
  • Australia

The fraud relies heavily on the boiler room agents to attract new victims. These agents are known for harassing people by phone, and pressuring them into investment.

To get a more firm grip on their victims, the company insists on installing AnyDesk and ScreenLeap remote control software. With it, they can gain access to secure files on your computer, which allows the agents to extort you with sensitive information they’ve gathered!

Known Fraudulent Scheme

Many of these faux companies, including AuxCapital, employ review seller networks as well. Additionally, there’s a large amount of misleading SMT Capital reviews on popular streaming services like YouTube as well.

The deceptive content did not go unnoticed with TrustPilot, however, with the platform openly warning their readers about the fraud. If you’ve invested with this firm, contact our legal experts for help with getting your funds reimbursed.

Fees Deducted Directly From Clients’ Account

As the legal documentation on this site states, the company is free to, at their sole discretion, deduct whatever amount they wish directly from the user’s total balance. All that without any prior notice. Nothing is a better proof of segregation of funds not existing than that. 

The firm that has the liberty to control the client’s capital is not the one that should be trusted. Moreover, all of those charges are never defined, so you can expect to be robbed under the pretense of them applying  

In addition, you’re also exposed to trading conditions that work in their favor, not yours. That’s leverage, for example, which goes up to 1:200 on this portal. 

Bonuses Don’t Allow Withdrawals

Pricier account types bring another feature that is advertised as beneficiary but is actually another financial trap. Those are cash rewards that vary and can reach 75% of the deposited sum. 

Unfortunately, as legal conditions state, it isn’t possible to perform a single withdrawal until trading volume requirement is reached. The details of this condition are not revealed. 

Overview Of The Trading Environment

The tools that are offered for your “prosperous financial journey” are incredibly basic and poorly implemented. It’s important to note that many of these con schemes only offer some semblance of trading, with no access to the actual markets. All of the prices are deliberately tampered with to make you lose money on every speculation.

Unusable MT4

The program that is available through SMT Capital broker is a MetaQuotes demo of MT4. It is intended as a technology demonstrator, and any trading on it is fictitious.

When choosing a reliable firm to invest your money with, pay close attention to the provided software and its functions.

Mixed Bag Of Assets

SMT Capital Forex provider claims to offer margin trading, as well as cryptocurrency staking options. While the range of assets seems diverse, the broker doesn’t openly discuss either the full selection of instruments or the spreads clients should expect.

Here’s an overview of what’s allegedly available:

  • Forex – EUR/USD, GBP/CHF, AUD/CAD, USD/JPY
  • Cryptocurrencies – BTC, ETH, XRP, ADA, DOT, DASH
  • Stocks – AAPL, TSLA, IBM, AT&T
  • Commodities – Gold, Brent, Natural Gas, Cocoa
  • NFTs – Azuki, Meebits, Moonbirds, Clonex

Obstacles to Account Creation

Without the required Promo code, a new SMT Capital trading account cannot be created. Due to such circumstances, we could not discover if the advertised features are indeed available. 

Some of the more attractive options with each pricier account are claimed to be personal account manager, free withdrawals and 24/7 support. Many of these features could be bought for far less money on regulated platforms. Here’s the prices that this fraudster forces:

  • Basic – $1,500
  • Silver – $25,000
  • Gold – $50,000
  • Platinum – $150,000
  • VIP – “Ask You Manager”

Unprotected Transfers

Financial swindlers waiting on your deposit all convince you that you’re perfectly safe and your data is stored securely. But as soon as you share your credit card information, thieves gain access to your bank accounts and empty them. 

It’s even worse if you choose crypto currencies as a transaction method – they’re fully anonymous and it’s a headache to try and backtrace the money flow. 

Cyber thieves also want you to think that generating the withdrawal request goes through the SSL protected online portal, but that’s a lie, too. You’ll never cash in a single penny, and more excuses and reasons will always come up to stop you from trying to withdraw anything. 

Need Assistance? Don’t Hope For It!

By only providing one communication channel, in this case online form, the company makes sure you won’t be bothering them with questions. 

While scam agents can easily reach you and pester you for days to invest, contacting them when you want is next to impossible. When you try to send an inquiry, it will just sit in their email inbox forever and you’ll never get a response.

Got Defrauded? Get Your Money Back!

On the surface everything seems great with this firm – low percentage of losing clients, large selection of assets, MT4, crypto staking included… In reality, this SMT Capital scam is rotten to the core, and is already on the blacklist of numerous regulators.

If you’ve committed funds to this company’s trading account, you should try to get it back as soon as possible. Our experienced legal team can help with your endeavors, so book a free consultation via the live chat for more information.

FAQ Section

What is SMT Capital?

It is a blacklisted offshore broker that doesn’t operate under legal supervision.

Is SMT Capital Legit?

No, the brand is a total sham and they only try to rob unsuspecting retail traders.

Can I Recover Money from a Scam Brokerage?

There’s always hope and our legal experts are here to provide you support. Contact us for more info.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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