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SmartMarket26 Review | A Comfortable and Reliable Trading Environment or Scam?

by Kevin Berry
Rating: 
  1/5   Reviews: 1
SmartMarket26 - logo

Can a brokerage firm from Monaco be safe for trading? Introducing SmartMarket26 – a CFD broker focused on providing a comfortable and reliable trading environment for its clients. Little is known about the firm, which leads us to suspect it might be yet another scammer in the forex industry. The founding date is unknown, but the scant number of reviews online clearly indicates limited experience. There is also no information available about licenses. In summary, it requires thorough investigation.

Highlights

🏛️ Country Monaco, Ireland
⚠️ Regulation
🖥️ Website https://smartmarket26.com/
🎲 Demo Account No
⏳ Start Time 2024
💲 Minimum Deposit $250
⚖️ Minimum and Maximum Leverage 1:500
⚙️ Trading Platform WebTrader
📨 E-mail info@smartmarket26.com, support@smartmarket26.com
📞 Phone +441884210604, +33170613021

First Impression of Smartmarket26.com

We are greeted by a rather gloomy and dark official website with a low ratio of useful and necessary information. Regarding the graphic design, one can only see a moving map of the world with Bitcoin logos. There’s nothing more. So, at first glance, SmartMarket26’s website appears weak.

Further exploration of the resource revealed that the firm is quite secretive, as it does not disclose many details about itself, although any verified and transparent company would do so. SmartMarket26 does not specify its founding date, licenses, registration certificates, business model, or other aspects of its operation. The situation regarding trading conditions is similar.

SmartMarket26 - site

It’s worth paying attention to the template nature of the website, as we have encountered similar brokerage resources before. The site supports French in addition to English. At the top, there is a standard panel with information about the company and trading conditions. Basic legal documents, such as the user agreement and KYC&AML, are also available but cannot be opened. Apparently, SmartMarket26 forgot to upload these documents.

Partnership and Bonuses

The broker offers all clients bonuses for deposit replenishment. The size of the bonus depends on the selected account type, from 30% to 100%. It is unknown what conditions SmartMarket26 sets for traders who take bonuses, but judging by the size, this is not good. Such high bonuses are most often offered exclusively by fraudulent organizations.

The firm mentions nothing about an affiliate program, so it’s quite possible that this option is not offered. Although we will further consider the personal account interface, and perhaps there will be functionality for a referral program.

Account Opening on Smartmarket26.com

The account registration process at SmartMarket26 is very quick. It’s enough to provide a name, contact details, country, and password. Meanwhile, the broker does not even require an agreement to the terms and does not send an email to confirm the registration. This looks very suspicious.

Registration

After successful registration, the client portal interface opens up. It’s also simple and understandable. On the left, there is a menu where traders can choose to deposit/withdraw funds, edit personal information, account summary, identity verification, and referral program. Aha, after all, SmartMarket26 offers an affiliate program, but does not describe the conditions or mention it on the official website.

SmartMarket26 - personal cabinet

Among the multitude of options in various sections, we noticed a demo account in the “Account summary”. However, it’s unclear how to open a demo account to try and test the platform. Perhaps, clients need to contact support for this.

Verification

The AML&KYC document does not open on the website, but this process is detailed in the personal account. That means, to study the AML&KYC policy, one needs to be a registered user. More and more oddities we see at SmartMarket26.

Overall, the verification procedure is no different from other brokers. Here, one also needs to upload documents that confirm the trader’s identity and residential address. Additionally, a proof of payment document, such as a photo/scan of a bank card, is required. Interestingly, if the deposit is made using cryptocurrency, how will the client confirm it?

In any case, we recommend not rushing to upload documents to SmartMarket26. First, it’s crucial to thoroughly check the firm, otherwise, your personal data may fall into the wrong hands.

Pros
  • The document upload functionality looks practical and convenient.
Cons
  • The firm requires proof of the payment.

Trading Software

“The Platform to Trade Better” – this is how SmartMarket26 describes its terminal, but judging by its appearance, it’s very hard to believe this. It’s a ‌primitive WebTrader that allows traders to use pending orders, technical analysis tools, and other less important options. Various timeframes and types of charts are also available.

Terminal

The company claims that its platform supports Android/iOS, but we found no links for downloading. Apparently, the broker meant that the terminal could be opened in a mobile browser. However, it is not the same as an application for smartphones.

Overall, such a terminal is unlikely to be suitable for successful trading. Too many features are missing, for example, the ability to upload custom indicators or auto-trading. We also didn’t see a trailing stop function and order book. SmartMarket26 offers a platform with minimal capabilities and limited functionality.

Features SmartMarket26 ToroProfit Graystone Venture Capital
Demo Account ✔️
Mobile App
Own Development ✔️

How Can I Trade With SmartMarket26?

To examine the conditions more closely, we need to look at the types of accounts, as this directly affects the leverage, spread size, and so on.

All Info About Accounts

SmartMarket26 offers traders a choice of 4 account types:

  1. Silver. The minimum deposit is $250. Clients receive spreads at 1.5 points, leverage up to 1:200, a 30% bonus, customer support 24/5, and an intro call from a personal manager.
  2. Gold. No less than $2,500. Leverage 1:300, a personal manager, and access to trading central research and analytics.
  3. Platinum. From $10,000. Spreads from 0.8 points, leverage 1:400, a 70% bonus, and a monthly session with a senior market analyst.
  4. Diamond. Zero spreads, leverage up to 1:500, a bonus up to 100%, and a dedicated personal manager.

Account types

The high leverage of 1:200-1:500, as well as the huge bonuses, signals the absence of a license, as regulators prohibit offering such high leverage. It’s also evident that SmartMarket26 operates on the principle of extorting money. If a client wants to receive more additional services and more favorable conditions, they need to invest more money.

Clients can open an account in three currencies: USD, EUR, or GBP. They have access to CFDs on forex, metals, indices, commodities, cryptocurrencies, and stocks. The broker claims to allow any strategies, but how this actually works is unknown. By the way, an Islamic account is not offered.

Pros
  • Demo.
  • Spreads are indicated.
Cons
  • The broker works on the principle of extorting money.
  • $250 is a high minimum deposit.
  • Commissions are not specified.

Market Analysis and Education With Smartmarket26.com

The firm promises to provide analytics and an economic calendar to traders. On the homepage of the website, we can observe a table and a ticker with quotes from popular financial assets. However, there is no additional functionality in SmartMarket26. It’s rather scant.

Deposit, Withdrawal, and Fees

The FAQ section mentions the following methods of transferring money: bank wire transfer, credit/debit cards, and e-wallets. In the SmartMarket26 personal account, crypto deposits are available, but only BTC and ETH are supported, and the transfer must be made to the specified address, not through a payment gateway.

The broker does not charge fees for deposits and withdrawals. At least, that’s what is stated on the website. Processing time for withdrawal requests is not specified.

Features SmartMarket26 Clark Financial Any Coin Capital
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️ ✔️
Deposit Fee ✔️
Withdrawal Fee ✔️

How Can I Contact It?

Verifying contact information can provide a lot of useful information about the broker. For example, the two email addresses listed on the SmartMarket26 website turned out to be fake.

Fake email

Furthermore, the phone numbers also showed interesting results upon searching. For instance, +441884210604 was noticed with other companies – iToroStocks, BlackTrade500, and others. Some of them are on the FCA’s blacklist – so this is a very alarming signal.

Fake phone

Also, SmartMarket26 did not create an online chat for users to quickly contact managers. Social media accounts are also missing, although the broker could perfectly advertise there.

Pros
  • Not found.
Cons
  • Mass phone number.
  • Fake email.
  • No online chat.

Is SmartMarket26 Dangerous?

If there were any doubts about the fraudulent nature of the platform before examining the contact information, now there are none left. Fake contacts, and moreover, a phone number that was noticed with other companies with a negative reputation, speak of guaranteed illegal activity. However, for even greater certainty, we will consider the operating period of SmartMarket26 and its legitimate status.

How Long Does The Broker Work?

A good question to which the company does not provide an answer. However, we can perfectly understand when the platform was launched just by looking at the domain registration date. The domain was registered in February 2024, meaning it is quite recent. So, SmartMarket26 is a very young broker.

Domain

How Is SmartMarket26 Regulated?

In the footer of the website, written in French, it says that the broker is regulated by the Central Bank of Ireland, but is this true? It turns out it is not. SmartMarket26 has not received a license from the Central Bank of Ireland. A search in the registry of this regulator confirmed it.

SmartMarket26 - CB of Ireland

In Monaco, more precisely in the registry of the financial commission of this jurisdiction, such an organization was also not found. As seen in the screenshot below, in the list of regulated firms starting with the letter “S”, the subject of our review is absent. This means that SmartMarket26 is not regulated at all. Moreover, most likely, a fake address is listed on the site.

Regulation

Features SmartMarket26 Squire’s Finance Limited General Trust Group
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

Kevin Berry
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Expert Opinion

This is not the first time such a pattern of a fake broker has been encountered. Moreover, other scammers similar to SmartMarket26 also indicated a license from the Central Bank of Ireland in the footer, but this is so easily verified. Does it really work for beginners? A fresh domain, absence of a license, contact data that has been noticed with other fraudulent firms, inadequate conditions, and other negative factors. There are too many cons. Moreover, the question of the business model has not yet been raised, and here it is with a conflict of interest, meaning 100% B-Book. This means the platform only profits from client losses. Therefore, it’s not advisable to invest in such places if you don’t want to lose money.

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The level of trust
Quick withdrawal of funds
Efficiency of technical support

1 review about SmartMarket26

DOGWIFHAT March 5, 2024 - 23:06
I believed it, but for nothing
The level of trust
Quick withdrawal of funds
Efficiency of technical support

Please don’t make the same mistake as I did. I blindly trusted the fraudsters at Smartmarket26, and they deceived me out of my money. I believed that they had a license, a real office in Monaco, 100% security, and favorable conditions. But it all turned out to be lies and fakes. In reality, I ended up on a fraudulent platform from which I now cannot withdraw money.
For two weeks, I couldn’t get in touch with the scammers. Later, I found out that they had fake email and phone numbers, so my attempts to find out what the problem was and the reason for the refusal to withdraw funds were in vain. Therefore, stay away from this fraud. And another thing – always check and don’t blindly believe what is written on the internet, especially with scam brokers.

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