Withdraw Nothing After Paying Much: Warren Bowie & Smith's Urgency and Pressure Tactics Exposed

Warren Bowie & Smith, an online CFD trading broker, has been consistently criticized for potential fraudulent practices and dubious operations. In a recent client complaint, the broker's unethical conduct has been exposed.

The complaint alleges that Warren Bowie & Smith persuaded the client to invest but denied withdrawal requests. “They flagged me and convinced me to invest and told me that my money would always be available when I wanted to withdraw but when I did the withdrawal test it didn’t allow me to do it and it looked like the request was just made but it does not allow me to withdraw money,” the client from Saudi Arabia stated.

According to the client, Warren Bowie & Smith assured him that his money would be safe and persuaded him to invest $3,000. However, his account balance suddenly turned negative. The client believes this malicious practice was a result of his repeated requests for withdrawals, which Warren Bowie & Smith were apparently reluctant to process.

Warren Bowie & Smith false reassurance: “everything is good”, “your trade is in a good profit”, “no issue”

In the course of investing and trading, the client was always told not to worry. He was reassured that everything was fine, his trades were profitable, and there were no issues with proceeding with selling. Instead, these appeared to be tactics to persuade continued investments.

Depositing to withdraw: did Warren Bowie & Smith keep its promise?

When the client inquired about making a withdrawal, Warren Bowie & Smith requested a deposit of $600. However, after the client made the payment on January 31, 2025, the online support ceased responding to his withdrawal inquiries.

It was not until February 3, when the client inquired about the MIB index position, that the broker responded. On February 4, the client continued to seek an update on his withdrawal request but was met with information about a “promotion code.” Subsequently, he was asked to deposit an additional $500 and $1,000.

Warren Bowie & Smith not only failed to fulfill its promise to process the client’s withdrawals but also pressured the client and created a sense of urgency. Repeated promotion codes were sent and demands for deposits were made by online support without providing valid solutions. When the client explicitly refused further deposit requirements, the customer service had a bad attitude and said, “are you serious? paise per pe lagta hai kya?” (meaning: does money grow on trees?)

Examination of Warren Bowie & Smith's Regulatory Status

Warren Bowie & Smith claims that its brand is owned by Securcap Securities (MU) Ltd, a company licensed by the Mauritius Financial Services Commission (Mauritius FSC). It is important to note that this company is registered as a “Discount Broker” with the Mauritius FSC, meaning it is authorized to execute orders for clients without providing advice.

According to a check conducted by BrokersView last March, Warren Bowie & Smith claimed to operate in the UAE but was not authorized to conduct business there. Details can be verified here.

However, Warren Bowie & Smith’s X account bio now claims it is one of the most popular online trading platforms in Mexico. Upon searching the Comisión Nacional Bancaria y de Valores (CNBV) database for regulated entities, neither Securcap Securities nor Warren Bowie & Smith are listed.

Consequently, Warren Bowie & Smith is only subject to offshore regulation from the Mauritius FSC, which results in lower investor protections and increases the risk of broker misconduct and potential fraud.

Investor Warning

The latest client complaint against Warren Bowie & Smith, submitted to BrokersView, highlights the broker’s unjust practices. The refusal of withdrawals and requests for advance fees pose a serious threat to investors. Therefore, BrokersView strongly advises against any financial transactions with Warren Bowie & Smith. 

Additionally, investors’ funds entrusted to this broker are likely to lack valid legal protection, making claims for compensation or fund recovery potentially hopeless.

Despite this, BrokersView has conveyed the client complaint to Warren Bowie & Smith, awaiting a reply and possible solution.