Overview of SmartFX
SmartFX is an online trading platform for forex, commodities, and stocks that allows you to trade currency pairings, commodities, and stocks. The broker offers a streamlined trading solution by requiring only one account and one trading platform.
Due to the enormous number of tools that allow traders generate profit from deals as well as conduct technical analysis of the market, MetaTrader, which comes in four versions, is the absolute market leader, with tens of millions of traders using it. A large database of built-in indicators is available. If you have prior experience with custom indicators, you can do so. On this platform, Strategy Tester was built, and it gives traders access to a venue where they may share strategy secrets, tools, and news.
The company offers a MetaTrader partner trading platform, which is a 5th generation platform. Technical assistance for MetaTrader does not require any further promotion because it is currently the industry standard for many international brokers. Convenience, a customized interface, and a vast number of indicator tools distinguish the platforms. Trading robots can also be connected, and the platform is generally client-oriented.
Additional tools to help in trading
The platform is quite complex and full of different comma instruments and does not offer any stand-alone trading tools. You can be sure that everything you need on the platform is already loaded, such as indicators, economic calendar, option for checking securities and so on.
The organization provides basic materials for learning general information about trading in financial markets, including textual materials, summaries of the most crucial financial news, and calendars, so you never miss an important occurrence that could affect your earnings. Access to VPS and MAM are among the additional features.
Execution of orders
The firm bills itself as a STP and ECN brokerage. This means that a client has direct access to liquidity providers, allowing them to offer the best price for various assets while also reducing slippage. Clients who prefer Forex and use the MT4 application, for example, obtain liquidity straight from banks.
The company has one of the best customer support service on the market, up to the fact that there is a forum for clients where they can share information and discuss various issues. There clients can also leave their feedbacks and suggestions about the company or its instruments.
Spreads and Fees
The first method is to earn money from spreads, as previously discussed. The company offers a high degree of leverage to all customers, with the exception of UK customers, who have a lower level of leverage. However, the system is set up so that UK traders have significantly more margin than traders from other nations.
SmartFX provides trading leverage of up to 1:400. After a trader’s smart account has been approved, or via a demo account, detailed information on various instrument leverage is available.
Because the organization caters to clients who aren’t always in the same spot, it has developed an app for Android and iOS smartphones.
Mobile applications provide the same set of tools as the desktop version, and the mobile edition of the trading terminal has just received a chat option with an expert.
Electronic payments are emphasized by the company, and there are no fees associated with them while depositing or withdrawing profits. Furthermore, the firm will accept payment by check or wire transfer. In the case of a bank transaction, be prepared to spend between $20 and $40. On average, payments are received within two days. Of course, this is contingent on the payment method you choose.
Traders can make deposits and withdrawals in US Dollars and Euros using any payment option offered by SmartFX. Skrill, Neteller, and Wire Transfer are examples of standard payment methods.
Necessary to comply with a number of antimoney laundering requirements of the company, in particular, your name on the identification document must match the name on the plastic card and bank accounts. In this case, there will be no problems with withdrawal.
Available on MT5 platform you may practically swap between accounts. For clients with experience, this is an opportunity to test their strategy before real trading. For beginners, this is a great opportunity to get acquainted with the peculiarities of trading in the market, and for clients with experience, this is an opportunity to get acquainted with the peculiarities of trading in the market.
As previously noted, the corporation does not now place a high priority on educational resources, which is a big disadvantage.
Simultaneously, there is a substantial number of video content – over 100 – including Metetrader training films and videos for developing more complicated concepts for trading in many assets, including cryptocurrency. In these video resources, every customer will discover just what they need.
At the time of writing, SmartFX did not have any deposit bonuses or promos. While inexperienced traders may be let down, reputable providers are not bound to supply desired discounts. If this changes, make sure to check the broker’s website before registering.
There are two accounts, both of which have the same functionality and tools. The only difference is that you only have to pay the commission or the spread. Classic and ECN are the names of these accounts. There is no minimum initial deposit for either the first or second account.
Security of the client
The most pressing concern for any trader is how to protect the money they have earned through trading. One of a broker’s primary responsibilities is to ensure a client’s financial security. As a result, clients’ and corporate finances are kept separate; in most cases, these are large bank accounts.
You can contact support at:
Phone – +97144319003
E-mail – email@example.com
Live Chat – located in the lower right corner of the site.
When testing the live chat service the answers were fast, but the detailed information is available only after you specify your personal contact details.
The organization is well-known around the world and offers convenient and quick access to many financial markets. The commissions are reasonable, and the services provided to clients are adequate. The obvious benefit will be copy trading, while the negative will be the lack of a diverse range of deposit and withdrawal options.
However, regulatory bodies’ quality, or rather, their degree of confidence, is not at its peak. Only if the company intends to expand should you consider collaborating with the industry’s top regulators.
If you are a client of the company, you will have the opportunity to offer feedback at the end of this review.