FSM Smart on the list of warnings for "20% profit in a week"

Canadian financial supervision, Manitoba Securities Commission (MSC), announced that an entity called FSM Smart had been placed on the public alert list. It is a broker offering Forex / CFD and Binary Options brokerage, providing its services without the required licenses. Additionally, he exposed himself by advertising on his website an investment offer with a rate of return of 20% per ... week.

FSM Smart not so "smart"

The broker's domain is operational all the time. We can see what many offers - MetaTrader 4, "market" spreads, popular instruments, basic education and popular tools.

It informs on its website that it does not accept clients from the USA, North Korea and Iran, and that its headquarters are in… Switzerland. It's just that Swiss law requires every broker to have a local banking license to conduct this type of activity, which, of course, the company cannot boast of. It also reports that it has been on the market for more than 10 years, but the Canadian regulator has determined that the actual duration of the activity is less than 12 months.

These managed accounts are, according to the traders' accounts, the second part of the broker's offer, not visible on the website. The broker allegedly already acquired clients proposed an investment on PAMM accounts, where he advertised the opportunity to obtain Present in several = 20% return on capital invested in only 7 days. Counting quickly, with this type of results from entrusted to 1000 $ after one year trader would have on account about 15 000 000 $. Does not that raise suspicions?