SmartFactoryFX has been flagged by Financial Markets Authority for "Fraud and Other Types of Misconduct". We are concerned that SmartFactoryFX.com may be operating a scam.
The FMA has been made aware of victims who were referred to SmartFactoryFX and directed to a “trading mentor” on Facebook, after initially receiving a new friend request.
We are aware of investors who were then una... This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Several red flags with SmartFactoryFX: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises
KYC with SmartFactoryFX is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Stable platform|Multi-device support
Cons: No phone support on weekends
I had high hopes for SmartFactoryFX after seeing their ad online, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Wide product range|Fast deposits|No hidden fees|Easy withdrawals
Cons: Research section could be deeper
Their two-factor authentication was optional when I joined. I enabled it. Later I lost my phone and could not log in. SmartFactoryFX recovery process took 3 weeks and required notarized documents. By then I had missed important trades. Their security is your inconvenience.
Pros: Competitive fees|Economic calendar
Cons: No dark mode on mobile