Is Warren Bowie & Smith a scam?

We are not calling it one, and we want to be precise about why. Chile's regulator has warned about it and the contradictions are real, but the licence claim is unverified rather than disproven, and this site does not close that gap with an assumption.

The warning

On 4 August 2026 Chile's CMF named WARREN BOWIE & SMITH, SECURCAP SECURITIES (MU) LTD. and KALAMINION HOLDINGS LIMITED in a notice about entities neither registered nor authorised to provide regulated services, listing four domains: wbandsmith.com, client.wbandsmith.com, rade.wbandsmith.com and webtrader.wbandsmith.com.

Checked 14 September 2026: only the main site survives. All three client-facing portals the regulator named have been taken down.

The licence

The About page says only "Regulated by FSC" with no number. The number GB20025775, with company registration C176674GBC, appears on a sub-page at /register-q/.

We could not check it. The Mauritius FSC register was unreachable all day on 14 September 2026. The number is neither confirmed nor refuted, and this review does not treat it as false.

The contradictions we could confirm

• A Seychelles phone number on a Mauritius claim. The company line is +248 4323 763. Mauritius is +230; +248 is the Seychelles.
• No leverage figure anywhere. The site offers "diverse leverage options matching every trader's needs".
• No account tiers, minimum deposit, spreads, commission or named payment methods. No copyright line or year in the footer. No segregation statement.
• Support runs on a Brazilian line and WhatsApp on a Mexican number.

What it shares with Zenstox

Zenstox, warned by the same Chilean regulator seven months earlier, names the same small Cyprus company, Wanakena Ltd (reg. 379327), as its compensation-service provider, uses the same Xcite platform brand, and runs the same +248 and +55 11 phone ranges. Two unconnected brokers do not pick the same compensation provider by chance. We record what is shared and name no owner.

What to do before funding

Ask for the licence number and check it on the Mauritius FSC register yourself, rather than accepting a linked document. Ask why a Mauritius firm answers a Seychelles phone. Ask for leverage, spreads and commission in writing. Ask which entity the client agreement is with and what Kalaminion Holdings does.

The full rating is in our Warren Bowie & Smith review, and the method is at our scoring method.