FSMSmarts.com Review

1 REVIEWS

Was FSMSmart.com

FSM Smart Limited

Updated: Sep 29, 2020 · Visit site  · Is this your company?

FSMSmarts is a forex broker. FSM Smarts offers the MT4, Mobile and Web Trader forex trading top platform. FSMSmarts.com offers over 30 forex currency pairs, indices, shares, stocks, gold and silver for your personal investment and trading options.

FSMSmarts.com
2018-10-29:  The Quebec AMF has issued a warning against doing business with FSM Smart.  They describe FSMSmart's offers as "All such offers are merely ruses to swindle the victims out of their money.CLICK HERE to confirm.

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Traders Reviews

Fabio Cristiano,
Italy,
May 28, 2019,
Guest

FSMSMART is most likely a scam

Had a call from FSMSMART, this very rude financial officer started offending me over the phone for no reason on the base of my origins and denied all the previous agreement other people working for the company had taken with me. I was never able to withdraw money from my account easily and often my calls were ignored. They use several switch-numbers which can be useless - instead at times, they called even twenty times in a day for their interest. Now, because I asked to close my account, he has threaten that I will be receiving a police warning and some other problem. Finally, I have still some money left by successful trades on the account, which will be obviously lost. FSMSMART is just a wrong company to be avoided, they are compared to stealers!! Check this video if you do not believe it!! https://www.youtube.com/watch?v=1LrY8Qb0J6Q
 
Australia,
Feb 24, 2019,
Registered user

FSMSmart Chapter 2

Chapter 2 (see Chapter 1 in this forum)
After walking away from my loss I was contacted by Lena Petronov a “ senior broker” from FSMSmart, she said she was from the “recovery dept” and we spoke about my journey so far.
She apologised about the way I had been mistreated and said she would work with me to recover my loss and build it back up, but it would require me to refund the account. She was a good sales woman and I agreed to give it a go.
I started with a few thousand and she entered some good trades which quickly started to increase my balance. She convinced me to add more funds and she made the account look great with more great trades.
Lena then entered five lots of 5 EURUSD & five lots of 5 GBPUSD. These went the wrong way & she then hedged them.
During the initial phase of funding Lena said she would send me an iPad because my account was working well & a little reward was in order, it did arrive. This made me feel that they really cared about me.
Lena then showed me a scalping program that they use and my account just exploded up, it was amazing, I now believe it was just a manipulation of the platform which she performed on my screen.
When I analysed these super scalping sessions I found the following:
14th Dec 2018 - 52 trades in 7 minutes 20 seconds, that is deciding which trade to enter, entering the trade manually, monitoring the trade & closing the trade manually, that is an average of one trade every 8.5 seconds and constantly changing between 14 different pairs, profit approx. $6,260.
18th Dec 18 - 44 trades in 5 minutes 30 seconds, that is deciding which trade to enter, entering the trade manually, monitoring the trade and closing the trade manually, that is an average of one trade every 7.5 seconds and constantly changing between 11 pairs, profit approx. $22,500.
21st Dec 18 – 64 trades in 10 minutes, that is deciding which trade to enter, enter the trade manually, monitor the trade and closing the trade manually, that is an average of one trade every 9.3 seconds and constantly changing between 14 pairs, profit approx. $17,385.
I was watching these trades take place on my screen and thought they would have to be computerised trades. I asked her how this scalping operation worked, her reply was that they have a “super computer” where 7-8 analysts are working and connected to her head set, yelling signals at her while she decides which orders to place, opening and closing trades manually. I don’t believe that is humanly possible.
The reason for entering the previously mentioned hedged trades was a precursor to me being introduced to the super scalping programme. To be eligible for on going scalping sessions which would last approx. 30 minutes you are required to deposit $50,000.
I refused to deposit any more funds and I was then told I had agreed to add more & I was in breach of a verbal contract. I never agreed to deposit more funds, if Lena would have stopped talking over the top of me she would have heard me say that.
In fact there were times were she would say “it’s up to you” I would say no, then she would pick up where she had finished putting the hard sell on again, it was relentless, the conversation would end with her saying get the $50,000, I will call you back in 30 minutes.
Because of this so called breach of contract she told me I would be getting a bill from FSM because this scalping session had been booked & paid for by them at a cost of $150,000. I asked her to put it in writing, she screamed she would & slammed the phone down. I never saw the bill.
Just before Christmas I requested a withdrawal as I had told Lena I needed to withdraw some profits as it was a time of year when expenses are high. She had previously told me I would be able to withdraw on the 22nd of Dec, I lodged a withdrawal request which was cancelled by FSM, on questioning them via email or Skype no one knows who cancelled it, I just get a email saying that they will forward my concern onto the relevant dept. I did not get my withdrawal processed.
I have however had 3 small withdrawals processed totalling $6642. One of those withdrawals was $2642. This was the value of the credit card transaction fees incurred by me when funding the account. Lena promised me the company would be refunding me, when I lodged the documents to show the fees involved they took it out of my trading account & sent that to me, this was clever little trick.
At one point I had $262,000 equity and a 4 digit margin level and they cancelled a request for a $10,000 withdrawal. When questioned they said it was because of a strategy they had planned for my account which involved trading on the stocks “earnings season” these are quaranteed profit trades where you are required to deposit $xxxxx to be allocated a place in these “special trades”. They work day & night to save you a place & do all the paper work, sob, sob etc.
I told them not to worry about those trades, I just want to trade forex for the time being.
From the 24th of Dec 18 I had been doing some successful trades on my own but I still had the hedged trades that Lena had entered back in November, by now some were well into 3 digit swap costs. I was told by both Lena & Marco that I should not be trading on my own as I could damage the account. I mentioned that they were not helping me, all they wanted when they spoke to me was more deposits, no time was spent talking about trades it was all crazy.
During the 6 weeks since Christmas 2018 I had added $130,000 to the account by trading on my own yet they still maintain I should not be trading.
Marco was put back onto my account and asked me if I wanted to do some trading I said yes but I would like them to end in profit, he said me too.
He placed 2 trades on the 15th of Jan 19 one was a 5 lot sell on cl-feb19 at $50.86, the second one was also a 5 lot sell on sp-mar19 at $2587.00.
After a few days I realised he had entered these trades against the trend & told him he was trying to destroy my account (again) I could not believe that I was so stupid to let him back on my account.
I spoke to Lena, she said no, he is a good broker he knows what he is doing, I said of course he knows what he is doing, he has done it before, he is trying to blow my account.
So now I have these massive hedged trades put on by Lena and 2 trades put on by Marco slowly choking me. They are slowly, successfully reducing my free margin.
In my 1st Chapter I mentioned the phone number which was a fake, on some of their listings they now use a US toll free number +18772989559, this is usually a very bad line.

To be continued.

Jan 16, 2019 - No Rating The rating stars are not small enough for this company.
These Brokers are a total scam. Their website & all associated social media sites are of a high calibre & look professional.
Try to call their phone number which is shown on all their websites & promotional material +41435084931 You will get a message "number not in service" If you ask Swisscom to check it out the reply is that the number is not assigned to anyone & they do not have FSMSmart listed as a company registered in their database.
Their address Hertensteinstrasse 51 Lucerne is a front, they do not operate out of that building.
When talking to the staff when they ring you if you ask a trick question all of a sudden they say the line is very bad, your''e breaking up etc, this gives them time to think of an answer, it is so obvious.
FINMA the Swiss financial regulator have warnings on their website about not getting involved with FSMSmart. I believe they are on most major Financial regulators warning lists.
Any calls they make to you cannot be returned, not in service, they are probably using a VoiP system.
They are very aggressive & determined to get you to empty everything you have into your new trading account, then they will put trades on that drop your margin & you have to deposit more to keep account afloat. They work on your screen via Team Viewer.
If you trade with them you will not get any withdrawals, they simply don't pay out, instead they will stall & bluff, asking for repeat copies of details they need, they are very creative with excuses & new ideas to make it seem they are trying to help, but in the end they will not send money back to your account.
I believe they set up a dummy MT4 trading platform, registered in your name and funded like a demo, no real value, meanwhile your money has gone out the back door. They keep this game going for as long as they can using all different strategies to spin it out as long as possible, all the while finding new explanations why your withdrawals have not arrived in your bank.
My research tells me they are operating out of some Eastern European country, definitely not Switzerland.
If you get cold called from FSMSmart run a mile, hung up quick.

Jan 13, 2019 - No Rating Chapter 1
My introduction to FSMSmart
FSmsmart are very good at getting clients to make the initial investment, a few hundred dollars.
The sales staff have been highly trained in closing the deal, this is the first step of getting the client hooked. I started with $100 & was told that would be enough to start a trading account.
The account manager (Kiel Leonards) took over & whatever the sales guy told me was now totally irrelevant.
They set up the MT4 platform on my computer using Team Viewer.
Next, they get good signals (I don’t think they are experienced Brokers, more on that later) they call you as they get these signals & can then demonstrate how easy it is to grow your account.
This type of trading using signals usually gives them the instant results they need to take you to the next level. They ask for a few more Dollars to deposit so bigger lots can be traded contrary to what the sales guy said. This increased account allows more profit all the time convincing you that they are all for you.
I thought everything looked good but strangely something happened, a trade is placed which is counter to trend, this has to be hedged running for weeks, putting you in a position where you now see a swap cost starting to grow to a very big negative value. I was then asked for more funds to keep the account going, I had to deposit to save my initial investment, a crafty move on their part and obviously a planned strategy. I was contacted less often and trades were not being placed as before, when asked why, I would get answers like, there are no good signals or the market is flat; as anyone knows with Forex trading you never stop making/loosing money on any given day, ever.
There was a point where I was just ignored for days at a time, emails or skype calls were totally ignored. At another time I was unable to log in to my account & it took me 2 weeks to get anyone to reply to my request for assistance.
I was finally contacted by a new account manager (Marco Roberts) who promptly asked for more funds to help the account he was very pleasant & apologetic about the way I had been left to sink or swim however he required more funds now to again keep the account afloat. I reluctantly complied & deposited more.
I was disappointed at the lack of trades that were being placed on my account, this is also a mind game they play. About this time I was being asked for more funds to deposit & said I could not deposit any more, this caused negative reaction, the ensuing conversation was getting rude, derogatory & condescending. Marco was connected to my PC via Team Viewer, I simply asked why can’t I just trade with the existing account size? the reaction to that question was – OK, you want to trade do you? And he immediately entered a trade with no explanation. This was also against the trend and ended up a disaster. From that point on I was on my own, no one would help me trade I was left to bleed. I would ask for advice, none was forthcoming, supposedly these guys are watching my account on an hourly basis and my account just imploded.
Days after my account was decimated, I was contacted by Marco asking me what happened, as if he didn’t see it taking place.
I told Marco I was walking away from my loss of $8800.
To be continued.

PS
I know from looking at other reviews on this site that cs@fsmsmart will be politely asking me to send more details so they can look into my problem. This makes them appear to be a caring, responsible brokerage. They already have all the details, they just need to look at my correspondence!!!
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