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Smart Prime FX Review and Tutorial 2021

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Facts & Figures

Smart Prime FX is an offshore broker offering live, MAM and PAMM accounts.

Awards

N/A

Bonus None
Instruments Forex, CFDs, indices, commodities
Demo Account Yes
Min. Deposit $25,000
Pay Methods Credit Card, FasaPay, Mastercard, Neteller, Perfect Money, Skrill, Visa, Webmoney, Wire Transfer
Min. Trade 0.01 lots
Regulated By Unregulated
MetaTrader 4 No
MetaTrader 5 No
cTrader No
ECN Account No
DMA Account No
Mobile Apps Yes
Auto Trading No
Social Trading No
Copy Trading No
Trade Signals Yes
Islamic Account Yes
CFD
FTSE Spread Floating
GBPUSD Spread 1
Oil Spread N/A
Stocks Spread Variable
Leverage 1:100 (1:200 by exception)
Forex

Trade the most active currency pairs at Smart Prime FX.

GBPUSD Spread 1
EURUSD Spread 8
EURGBP Spread 1
Assets 10+
Risk Warning – Your capital is at risk

Smart Prime FX is a forex and CFD trading specialist offering the MetaTrader 4 stage. The seaward business has a setup of web-based trading apparatuses alongside a decision of live records. This audit gives data on stores, expenses and guidelines so you can see if to confide in Smart Prime FX.

Smart Prime FX Details

Smart Prime FX was established in 2018 and is claimed by Smart Prime Group, situated in St. Vincent and the Grenadines. Customers can exchange on forex, records and a choice of wares using live records and MAM/PAMM arrangements. In any case, while the organization has cooperated with top-level liquidity suppliers, Smart Prime FX doesn’t yet hold a permit with a setup controller.

Trading Platforms

MetaTrader 4

The intermediary offers the trusted and mainstream outsider MT4 stage, furnishing live trading and progressed investigation with exceptionally customizable outlines and diagrams—clients profit with 30 inherent markers, 2,000 free custom pointers, in addition to 70 paid attributes. Merchants get a limitless number of outlines across 9 time periods and admittance to the full scope of Smart Prime FX items. MT4’s implicit coding language MQL4 likewise allows customers to foster their algorithmic bots.

MT4 is accessible for work area download or can be gotten to utilizing the cloud-based web dealer. Moreover, an Android and iOS viable application is accessible.

Order Flow

Level 2 trading data is accessible through the specialist’s exclusive stage, Order Flow. Smart Prime FX advances Order Flow as a fantastic trading terminal with excellent execution times for quick conversion scale portrayals. Flaunting super-low inactivity and artificial reasoning, assets can be put resources into under 1 millisecond. 

The simple to-utilize stage can be downloaded from the agent’s site upon account enlistment.

Assets

Smart Prime FX offers 250+ instruments across forex, stock records and wares. Customers can put resources into significant US, European and Asian files, alongside the FTSE 100. A determination of major, minor and fascinating monetary forms are offered, including EURUSD and GBPUSD. The organization additionally offers trading on well-known metals, like silver and gold. 

Note, Smart Prime FX doesn’t offer digital currency trading.

Spreads & Commission

The spreads offered by Smart Prime FX vary contingent upon the kind of record held. The base spreads offered for a Silver record (most reduced level) are 1.6 pips. This diminishes to at least 1.0 pips and 0.0 pips for Gold and Platinum accounts individually. 

There are additional commission charges of $8 per $100,000 exchanged (for all record types), which means, generally speaking, the dealer is genuinely costly to trade with.

Leverage

The standard influence offered is 1:100 anyway. Smart Prime FX offers rates up to 1:200, dependent upon the situation. These rates permit clients to take more extensive situations with their money cost. In any case, high influence can build misfortunes, so dealers ought to know about the dangers implied. 

Note, influence is covered to 1:100 on XAUUSD paying little mind to account settings.

Mobile Trading

MetaTrader 4 has a versatile application accessible for the two iOS and Android gadgets and has magnificent audits on the App Store and Play Store. The application offers each request type and tradeable resource accessible through the work area customer, however with just three diagram types and a local determination of pointers and examination apparatuses. 

Head to the separate application store to download the portable application and enter your Smart Prime FX login certifications to begin.

Payment Methods

Deposits

Merchants can store reserves through credit and charge cards (Mastercard and Visa), notwithstanding Skrill, Neteller and wire move. In addition, most installment arrangements offer moment handling. However, both coming soon, Perfect Money and OK Pay accompany a 0.5% and 1% exchange expense individually. 

The least stores are high, beginning at $25,000 for a Silver record and expanding to $100,000 for a Platinum account. This is as much as multiple times the market normal, with most dealers offering accounts with a base store of a couple of hundred dollars. The enormous introductory store prerequisite will probably cost out numerous novices.

Withdrawals

Benefits can be removed by a large portion of the strategies used to store reserves. Installment times can stretch to three workdays, with Skrill offering quick installments inside one working day. Sadly there are likewise withdrawal expenses to factor in, beginning at 0.5% with UPayCard and moving to 2% in addition to 8 USD with Visa and Mastercard.

Demo Account

Smart Prime FX offers an unlimited demo account on the MT4 stage to test procedures and investigate the business sectors. A preliminary record is an incredible spot to begin in case you’re uncertain about putting away genuine cash. All things considered, the representative’s demo account isn’t upheld on macOS.

Smart Prime FX Bonuses

At the hour of composing, there are no sign-up rewards or welcome proposals set up.

Regulation

Smart Prime FX isn’t at present managed by an enormous controller, like the CySEC or FCA. Unregulated dealers work without clinging to many rules, bringing about the decreased assurance for the client against chances, including tricks and agent liquidation. This is a significant thought while choosing a forex specialist.

Additional Features

Extra highlights at Smart Prime FX are disillusioning. For example, the market news segment of their site connects to CNN Money articles that have not been refreshed since October 2018. This will hinder numerous novices who profit with extra instruments and statistical surveying as they begin trading on the monetary business sectors.

Trading Accounts

There are three record types accessible; Silver, Gold, and Platinum. 1:100 influence and position sizes from 0.01 parcels are accessible across each record. Spreads tumble from 1.6 pips with the Silver record to 1 pip with the Gold arrangement and 0 pips with the Platinum account. To profit with more tight spreads, clients need to store $50,000 for the Silver record and $100,000 for the Gold record versus the $25,000 required for the Silver record. 

Trade-free record conditions are additionally accessible.

Benefits

Motivations to open a Smart Prime FX account include: 

  • Forex and CFD trading 
  • MT4 trading stage 
  • Spreads from zero pips 
  • MAM/PAMM arrangements

Drawbacks

Drawbacks of Smart Prime FX include: 

  • No promotions 
  • Unregulated 
  • No trading challenges 
  • Uncompetitive expenses 
  • No live visit support 
  • $25,000+ least store

Trading Hours

Customary forex markets are open 24/5. However Smart Prime FX’s trading stage is accessible all day, every day. As resources follow neighborhood trading hours, open your contributing terminal for explicit market opening occasions.

Customer Support

The Smart Prime FX client assistance group can be reached through phone or email. But, lamentably, the specialist doesn’t give live visit support, which is a genuine disadvantage, particularly for novices who may require extra help as they begin. 

Security

Smart Prime FX has a protection strategy that expresses severe security conventions when utilizing personal data and handling installments. Regardless of this, no subtleties of these conventions or encryption principles are given. It likewise specifies that entrance is gotten by login and secret word. However, there doesn’t seem, by all accounts, to be any extra security like two-factor verification. This evident absence of safety diminishes our trust in the merchant.

Smart Prime FX Verdict

Smart Prime FX is an unregulated dealer that needs straightforwardness concerning trading conditions and friend’s history. However, it offers the mainstream MT4 stage; however, high least stores alongside restricted help mean we’d suggest thinking about elective suppliers.

Accepted Countries

Smart Prime FX acknowledges brokers from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most different nations.

Alternatives to Smart Prime FX

On the off chance that you are searching for choices to Smart Prime FX, we have arranged a rundown of the leading 5 merchants that are like Smart Prime FX beneath. This rundown of specialists like Smart Prime FX is arranged by similitude and just incorporates organizations that acknowledge brokers from your area. 

  • Hantec Markets – Hantec Markets is a multi-directed online FX merchant offering MT4 and custom-made help giving immense adaptability to suit any broker. 
  • Fortrade – Fortrade is a multi-resource specialist offering a basic live record with cutting-edge devices. 
  • LQDFX – LQDFX offers web-based trading with numerous STP records and MT4 investigation devices. 
  • Worldwide Prime – Global Prime is a multi-directed trading merchant offering 100+ business sectors. 
  • FXChoice – FXChoice is a seaward retail dealer offering MT4 and MT5 stage downloads.

FAQ

Is Smart Prime FX a Trustworthy Broker?

The dealer isn’t straightforward with subtleties of spreads and has inadequate online surveys. There is additionally an absence of data accessible in regards to its authors and representatives. As a result, it is subsequently hard to confide in the authenticity of Smart Prime FX.

Is Smart Prime FX Regulated?

Smart Prime FX is unregulated and accordingly doesn’t give a similar degree of assurance as merchants controlled by notable specialists like the FCA.

What account are types offered by Smart Prime FX?

Smart Prime FX offers three records: Silver, Gold, and Platinum. The least stores start from $25,000 with zero pip spreads accessible and 1:100 influence.

What is the minimum deposit required to trade at Smart Prime FX?

You will require $25,000 to open a Silver record, $50,000 to open a Gold record, and $100,000 to open a Platinum account. This is relatively higher than numerous online intermediaries.

How can I contact Smart Prime FX?

The best way to reach out to Smart Prime FX is by messaging info@smartprimefx.com or calling +1 (877) 870 0092. Live visit support isn’t given.

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