Dear trader, we understand the distress and frustration this situation has caused you, and we sincerely apologize for the inconvenience. Unfortunately, Smartcoinfx is a scam. We urge you to report it to the local police and relevant regulatory bodies.
According to our records, Smartcoinfx concealed information about its operator. Only an Australian address was listed on its website. However, our search for this company in the register of Australian Securities and Investments Commission (ASIC) didn't yield any matching results. The platform is basically unsupervised. Now, its website cannot be reached any longer, further suggesting that it is a scam.
Furthermore, the Financial Conduct Authority (FCA) has added Smartcoinfx to its warning list as an unauthorized firm. The full warning can be accessed here.
When selecting a forex broker, verifying its licenses should be an investor's priority. What's more, victims of fraudulent trading platforms are often targeted by "recovery scam", where individuals or businesses claim to have the capability to track and reclaim their losses. BrokersView strongly suggest you stay alert to such situation. The Financial Conduct Authority (FCA) has published a warning about it, demonstrating its tactics and the substantial risks involved.
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