SM-Invest Review: A Scary Forex Investment Platform

SM-Invest Review
  • License and Regulation
  • Proof of Payment
  • Safety of funds
  • Support


SM-Invest does not have any proof of concept and no one seems to back them. We believe they are not segregating accounts and transferring funds to personal accounts. The only people who benefit are owners and those close to them.

SM-Invest is using another platform’s license details as their own. The platform even goes ahead and claims to be the official trading partner of West Ham United. Our investigations reveal is trying to use Scope Market’s license details. To find out the depth which these scam artists have gone, we opened an account. What we found out regarding this platform will shock you. The platform is a clone and has another scam website. Learn more in our SM-INVEST Review.

SM-Invest Review

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About SM-Invest

Even on their about us page, they use details of Scope Markets Ltd. There’s no indication from Scope Markets Ltd showing affiliation with SM-Invest. Even the homepage design is similar to that of the scope market.

It’s where we get our first look at the clone details. You can see from where SM Invest got their information. It shows a lack of concern or imagination on the platform’s part.

The claim of using West Ham Football Club is another red flag. There’s a disclaimer at the footer of their homepage showing a warning to European investors. Apparently, the platform does not accept investors from the European region.

It’s a bit odd that they target European investors and still claim to avoid accepting them. We have seen such types of platforms that act holier than though.

Account and membership tiers

SM-Invest offers four account types to investors. These include Bronze, Silver, Gold, and Platinum. The bronze account is the minimum acceptable account with a $500 deposit requirement.

The platform asks for double the amount required by regulated bodies.  Most of the accounts have the same features, including dedicated account managers. Only the platinum account offers spreads to investors.

Account managers

Another red flag is the use of dedicated account managers to lure investors. These are call agents who act as account managers. The agents don’t have any professional trading knowledge. All they do is call you and ask for more deposits. account types

Before depositing, they will harass you with calls and emails. Once you give in and deposit a fund, that’s the last you will hear from them. It’s best to stay away from this cloned website.

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Are funds safe with SM-Invest?

Funds are far from safe with a platform that hires call agents as dedicated account managers. There are no license documents to prove Scope Markets Ltd has an affiliation with the platform. All we have is their word that they will protect your funds.

With the number of complaints, we are doubtful that this is the case. A genuine platform would have their documents for all to see. Please stay away from this rogue forex investment platform.

Asset index

The platform claims to offer necessary assets to give users the chance to trade 24 hours, 5 days a week. These assets include crypto, energies, forex, indices, metals, and shares. With these assets, the platform is poised to attract investors even without having any ground rules.

Investors sign up not knowing the trading features. Only platinum account holders enjoy spreads as other accounts don’t have this option.

Business holder

For those new to forex trading, you should know scam artists are lurking. One of the ways to fool investors is to align themselves with a reputable platform. It’s what this platform is doing despite having links to Scope Markets Limited.

We have reason to believe offshore brokers operate the platform. With an offshore platform, it’s easy to scam investors and hide from authorities. Once you sign up, funds are at the mercy of these unknown owners.

Comments from users

When we contacted some of the members, most were distraught with the turn of events. After depositing funds, the platform could no longer communicate with them. Attempts to withdraw funds have fallen on deaf ears.

Most of the victims even claim their account credentials were scrapped. It means the people behind this are deleting their login details. The reason behind this is to keep investors away from accessing their funds.

Domain insights ( review)

Thanks to our research, we have the timeline for this platform to come into existence. The platform has been around since 2007. What is funny is that there’s no proof of anyone profiting from the platform. No one has come out with a positive review on the platform. Most users are unhappy with the trading conditions.

The platform leaves us with mixed feelings towards the end-game. With unattractive spreads, the offshore platform becomes a major concern.

Is SM-Invest a Licensed or Registered entity?

Trading Terminal SM-Invest

Suppose we go along with the claim IFSC licenses them. It also means the platform enjoys loose regulation. SM-Invest does not enjoy the backing of reputable regulatory bodies. The platform chooses to go with IFSC, which doesn’t have strict rules.

Once you deposit funds, there’s no way of guaranteeing safety. The platform fails to inform members of any insurance coverage of deposits.

Supervision from IFSC means the platform has liberal control of brokers. The body focuses on a binding code of conduct and the promulgation of regulations. There’s little to no attention when it comes to compliance checking.

And this makes the IFSC, not a reliable financial watchdog body. We prefer regulatory bodies such as ASIC, CONSOB, FCA, SEC, and more. Chances of recovering funds from an IFSC regulated entity are next to zero.

Pros and cons of SM-Invest

Payment options

Depositing funds with this platform is easy, and the process takes less than twenty minutes. Withdrawing funds with SM Invest remains a challenge to investors. With over 15 years in the game, we are shocked there’s no proof of withdrawal.

It seems only a few members get to withdraw, those who signed up first. Most scam artists will use a pyramid-scheme sort of withdrawal policy.

The policy involves allowing a few members to withdraw and use them as bait. These members will go all over social media claiming withdrawal is possible. Once other members start depositing funds, withdrawal becomes a problem.

And this is what has been happening over the years. Withdrawal request also attracts a fee of $35, which is preposterous. They are violating the terms and conditions.

Spreads not matching

With the demo account showing attractive spreads, the real account doesn’t have this option. We believe the platform is using the demo account to fool investors. On the demo account, the floating ground is 1.9 pips, and it’s not an attractive pricing model.

Scam or Legit SM-Invest

Asset Index SM Invest

All facts point to SM-Invest having scam attires all over. The platform fails to inform users of the actual trading conditions. With a license from IFSC, we believe this is not true as the details belong to another firm. West Ham United has only one trading partner, Scope Markets Ltd. It’s a company with no affiliation with SM Invest.

Bottom line

We have mixed feelings about this platform. At the end of the day, we won’t recommend it.

The best alternative is using reliable forex trading bots. Tested and trusted bots are what you need to progress. Make the bold move and use transparent forex trading bots.

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