FSMSmart scam – cannot get any withdrawal FSMSmart.com
I started trading with FSMSmart (Switzerland) in April 2018 in total deposited over a period of time $118000. I have grown the account to 326000 but now cannot get any withdrawal, just stalling & bluffing. I found that their 24/5 phone number was invalid, Swisscom confirmed that the number was not assigned to anyone & they had no record of FSMSmart.com. The business address on their website Hertenseinstrasse 51 Lucerne is a front, they do not operate from that building. When they call me it is usually a new/different number each time & I cannot call back to any of those numbers, they are not in service. have grown the account from $118000 to $326000 but now cannot get any withdrawal, they are just stalling & bluffing. Any advice would be appreciated. I recently found a blog about a scam that these guys could be copying – very disturbing – https://brokercomplaintregistry.com/police-nab-trade12-hqbroker-syndicate/
We are sorry to hear that. We have listed FSMSmart as a broker to avoid in August 2018. FSMSmart is not a forex broker from Switzerland. In fact, it is an offshore broker registered in Marshall Islands with no license.
In this case, we advise you to report to ASIC or your local police. In term of recovering fund, unfortunately, we have not heard successful cases in recovering fund from offshore brokers as they are outside Australia and local authority does not have international jurisdiction to investigate and prosecute them.