What Happened?
FSMSmart, a brokerage firm that once presented itself as a legitimate player in the online trading space, has become entangled in a web of controversy. Numerous accusations of unethical practices, including misleading clients and manipulating trades, have surfaced over the years, exposing the company’s dark underbelly. The brand has been associated with a larger network of questionable firms, including Trade12, HQBroker, MTI Markets, and MXTrade—all of which have been linked to fraudulent activities designed to exploit unsuspecting traders.
As more victims began speaking out, FSMSmart adopted an aggressive approach to censor any damaging news, attempting to bury online complaints and silence critics. Reports on platforms like Forex Peace Army detail a systematic effort to suppress bad reviews, employ fake positive feedback, and even intimidate whistleblowers. This orchestrated campaign to whitewash their shady past, however, only deepened the public’s mistrust, revealing a culture of deception rather than genuine accountability.
The parallels between FSMSmart and its sister companies illustrate a broader scheme where clients are lured in with promises of wealth, only to face significant losses, uncooperative customer service, and insurmountable withdrawal barriers. Attempts to hide the extent of their fraudulent activities have only fueled the fire, as public scrutiny continues to uncover more troubling details about their operations.
Analyzing the Fake Copyright Notice(s)
Our team collects and analyses fraudulent copyright takedown requests, legal complaints, and other efforts to remove critical information from the internet. Through our investigative reporting, we examine the prevalence and operation of an organized censorship industry, predominantly funded by criminal entities, oligarchs, and disreputable businesses or individuals. Our findings allow internet users to gain insight into these censorship schemes’ sources, methods, and underlying objectives.
List of Fake Copyright Notices for FSMSmart
Evidence and Screenshots
How do we investigate fake DMCA notices?
To accomplish this, we utilize the OSINT Tool provided by FakeDMCA.com and the Lumen API for Researchers, courtesy of the Lumen Database.
FakeDMCA.com is the work of an independent team of research students and cybersecurity professionals, developed under Project UnCensor. Their OSINT Tool, designed to uncover and analyze takedown notices, represents a significant step forward in combating these abusive practices. It has become a valuable resource, increasingly relied upon by journalists and law enforcement agencies across the United States.
Lumen, on the other hand, is an independent research initiative dedicated to studying takedown notices and other legal demands related to online content removal. The project, which operates under the Berkman Klein Center for Internet & Society at Harvard University, plays a crucial role in tracking and understanding the broader implications of such requests.
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What was FSMSmart trying to hide?
FSMSmart, a trading brokerage once positioned as a provider of online financial services, has gained notoriety for its association with fraudulent activities and deceptive schemes. The firm is part of a broader network that includes companies like Trade12, HQBroker, MTI Markets, and MXTrade, all of which have been accused of scamming unsuspecting traders by manipulating trading platforms, blocking withdrawals, and providing poor customer service. FSMSmart has attempted to maintain a façade of legitimacy, but growing complaints and accusations from users have severely damaged its reputation.
The adverse news surrounding FSMSmart is largely tied to its predatory practices. Clients have repeatedly complained about issues such as:
- Trade Manipulation: Numerous traders have alleged that FSMSmart manipulated trades in a way that caused them to lose significant amounts of money. This includes irregularities in pricing and sudden, unexplained margin calls.
- Withdrawal Issues: A common theme among complaints is the difficulty in withdrawing funds from the platform. Many users report long delays or outright refusal to process withdrawals, leaving their money trapped in the system.
- Deceptive Marketing: FSMSmart, like its sister companies, has been accused of luring traders with promises of high returns, only for these traders to be met with significant losses and poor service after depositing funds. The firm has reportedly employed aggressive sales tactics and misled customers about the risks of trading.
- Fake Positive Reviews: In an effort to counterbalance the growing number of negative reviews, FSMSmart has allegedly posted fake positive testimonials online to create the illusion of satisfied customers. However, this tactic has backfired as genuine traders continue to share their negative experiences on forums like Forex Peace Army.
- Censorship Attempts: FSMSmart has tried to suppress damaging information and censor critical reviews by threatening legal action against whistleblowers and leveraging online reputation management tactics. These efforts have extended to complaints being taken down or manipulated to improve their public image.
On platforms such as Forex Peace Army, entire threads are dedicated to exposing FSMSmart and its affiliates, with users sharing evidence, personal stories, and documents that outline the extent of the firm’s misconduct. The allegations highlight a coordinated scheme across multiple brands aimed at deceiving traders, manipulating markets, and profiting off unsuspecting victims. Despite FSMSmart’s attempts to hide this damaging information, the volume of complaints and investigative reports has made it clear that their operations are far from legitimate.
Their efforts to erase or discredit the flood of negative press have only further cemented their role in a large-scale, international trading scam. The question remains as to how long FSMSmart and its network can continue operating under the guise of respectability as the truth behind their operations becomes harder to conceal.
Only FSMSmart benefits from this crime.
Since the fake copyright takedown notices were designed to remove negative content for FSMSmart from Google, we assume FSMSmart or someone associated with FSMSmart is behind this scam. It is often a fly-by-night Online Reputation agency working on behalf of FSMSmart. In this case, FSMSmart, at best, will be an “accomplice” or an “accessory” to the crime. The specific laws may vary depending on the jurisdiction. Still, the legal principle generally holds that if you actively participate in planning, encouraging, or facilitating a crime, you can be charged with it, even if you did not personally commit it.
How do we counteract this malpractice?
Once we ascertain the involvement of FSMSmart (or actors working on behalf of FSMSmart), we will inform FSMSmart of our findings via Electronic Mail.
Our preliminary assessment suggests that FSMSmart may have engaged a third-party reputation management agency or expert, which, either independently or under direct authorization from FSMSmart, initiated efforts to remove adverse online content, including potentially fraudulent DMCA takedown requests. We will extend an opportunity to FSMSmart to provide details regarding their communications with the agency or expert, as well as the identification of the individual(s) responsible for executing these false DMCA notices.
