Smartsafetrade claims to be a UK-registered financial trading platform offering CFD trading services in forex, stocks, indices, futures, precious metals, energy, and cryptocurrencies. The platform asserts its registration number is 10263501 and boasts 23 years of trading experience. However, deep investigations have found these claims to be wholly untrue.
A Whois lookup reveals that the domain for the platform's website (smartsafetrade.com) was registered on February 18, 2024, which directly contradicts the claimed "23 years of trading history." Further inquiries with UK corporate authorities show that registration number 10263501 actually belongs to a company named CRYPTOX LTD, which is currently facing a strike-off proposal.
Moreover, the company history displayed on the "About Us" page of the official website is actually plagiarized from the profile of another well-known broker, TMGM. The platform attempts to portray itself as a reliable platform with years of experience, but its background is entirely fabricated.
Platform Services
Trading Platform
The platform does not provide clear support for trading software; users can only trade using its self-developed web system. The website lacks any detailed explanation of this operating system or support from mainstream trading platforms, revealing significant deficiencies in professionalism and transparency.
Trading Conditions
Smartsafetrade lists the following trading conditions on its website:
- Spread: From 0 points
- Maximum Leverage: 1:500
- Minimum Deposit: 1000 USD
The platform offers four types of accounts: BRONZE PACKAGE, SILVER PACKAGE, GOLD PACKAGE, and PREMIUM PACKAGE. Minimum deposit requirements range from 1000 USD to 115,000 USD, as follows:
- BRONZE PACKAGE: Minimum deposit 1000 USD, maximum deposit 9999 USD.
- SILVER PACKAGE: Minimum deposit 10,000 USD, maximum deposit 29,999 USD.
- GOLD PACKAGE: Minimum deposit 30,000 USD, maximum deposit 114,999 USD.
- PREMIUM PACKAGE: Minimum deposit 115,000 USD, no upper limit.
All account types offer complete IT support, hedging is allowed, and referral bonuses are supported. However, the platform does not disclose information about deposit and withdrawal methods, processing times, and fees, leading to non-transparent trading conditions, which increase investor risk.
Account Types and Deposit Requirements
The account types and deposit requirements at Smartsafetrade range from 1000 USD to 115,000 USD. The high deposit requirements for some accounts may limit participation by some investors. All account types include complete IT support, support for referral bonuses, and allow hedging. The platform does not disclose deposit and withdrawal methods, processing times, or fees, resulting in a lack of transparency in trading conditions.
Regulatory and Legal Issues
Smartsafetrade claims on its website to be regulated by the Australian Securities and Investments Commission (ASIC) and the Vanuatu Financial Services Commission (FSC). Thorough checks revealed these claims to be false.
- In Australia, Smartsafetrade Australia Pty Ltd was not found in any regulatory information on the ASIC website. The regulatory number provided by the platform 436416 actually belongs to a registered entity Trademax Australia Limited of TMGM.
- The Vanuatu regulatory entity offered by the platform Trademax Global Limited was also confirmed to be related to TMGM, and this entity also lacks legitimate regulatory authorization.
Thus, Smartsafetrade is not authorized by any legitimate regulatory bodies and has appropriated TMGM's regulatory information for false advertising.
Company Address and Contact Information
The platform claims its company address is located at 71-75 Shelton Street, Covent Garden, London, United Kingdom. However, a search on the UK corporate registry reveals that among the many active companies registered at this address, Smartsafetrade is not listed. This indicates possible false registration or undisclosed real address, further exacerbating doubts about the platform's reliability.
The only contact provided on the website is an email address ([email protected]), and the platform has no accounts on any mainstream social media, including LinkedIn, Facebook, Instagram, Twitter, and YouTube. This suggests very low brand exposure and a lack of public interaction.
Corporate Personnel and False Information
The platform’s website lists some corporate personnel, including Kimberly Gram (CEO), Selena M Sancho (Financial Manager), and Kren M Anderson (Senior Broker). An investigation reveals these personnel photos are sourced from publicly available online resources and have no actual connection with the platform. This shows the platform uses false personnel information to enhance its credibility, but all this data is entirely fictitious.
Website Traffic and Brand Exposure
According to data from the well-known website analytics tool Semrush, smartsafetrade.com has an average monthly visitation of less than 100 times, indicating almost no active users. Additionally, there is no news coverage or user reviews available on the web, evidencing very low brand exposure and absence of user feedback.
Template-Based Website Design
The website design of Smartsafetrade is remarkably similar to multiple known scam platforms such as EasyFlowInvestment, Privote Prime Digital Hub, and Coinstormer, adopting the identical website template. These platforms are typically mass-produced scam sites, and the phenomenon of using identical templates usually indicates that these platforms belong to a "production line" of fraudulent activities, further raising suspicion that this platform is a scam.
Risk Report
- False Company Background: The platform's company history is significantly falsified, and the background displayed on the website is entirely deceptive, indicating strong misleading practices.
- Unregulated: Although the platform claims to be regulated by ASIC and FSC, it is actually not authorized by any legitimate regulatory bodies and has misappropriated TMGM's regulatory information for false advertising.
- Non-transparent Trading Information: The platform does not clearly disclose key information on deposit and withdrawal methods, processing times, and fees, leading to non-transparent trading conditions that increase investor risk.
- False Corporate Personnel Information: Provided personnel information is completely fabricated, with photos sourced from publicly available images, indicating severe dishonesty from the platform.
- Low Website Traffic and Brand Exposure: Smartsafetrade has extremely low brand exposure, nearly zero website traffic, and lacks any news coverage or user reviews, thereby failing to build trust.
- Suspected Scam Platform: The platform's operational mode and website template are strikingly similar to known scam platforms, suggesting it is likely a scam platform with the primary aim of deceiving users into transferring funds.
Conclusion
Overall, Smartsafetrade raises significant concerns regarding its company background, regulatory information, trading transparency, and user feedback. Its false advertising, unregulated operations, and unverifiable personnel information strongly suggest that the platform is likely a scam. Investors are advised to avoid any transactions or investments through this platform to ensure the safety of their funds.
