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SmartFX Review and Tutorial

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SmartFX Facts & Figures

SmartFX is a leading online provider of forex, CFDs and futures.

 

Awards

None

Bonus N/A
Instruments Forex, CFD-indices, CFD-equities, futures
Demo Account Yes
Min. Deposit Undisclosed
Pay Methods Neteller, Skrill, Visa, Wire Transfer
Min. Trade 0.01 lots
Regulated By VFSC
MetaTrader 4 No
MetaTrader 5 Yes
cTrader No
ECN Account No
DMA Account No
Mobile Apps Yes
Auto Trading Yes
Social Trading No
Copy Trading No
Trade Signals Yes
Islamic Account No
CFD
FTSE Spread Floating
GBPUSD Spread Floating
Oil Spread Floating
Stocks Spread Variable
Leverage 1:400
Forex

Trade on forex with floating spreads

 

GBPUSD Spread Floating
EURUSD Spread Floating
EURGBP Spread Floating
Assets 43
Risk Warning – Your capital is at risk

SmartFX is an online broker offering a few trading choices, including currency pairs, commodities and stocks. Know that the broker offers a basic trading arrangement with one record and a single trading platform. Our audit details the login interaction, account types, and trading hours. Peruse on to find out if becoming a SmartFX merchant is the right decision for you.

Company Overview

SmartFX has workplaces in Dubai and Vanuatu and is worked by Smart Securities and Commodities Limited. The company is managed by the Vanuatu Financial Services Commissions (VFSC) and hopes to isolate itself through its direct trading recommendation with its genuine cash Smart record and the MetaTrader 5 platform.

Note the company has no alliance with EA SmartFX extreme scalper or related items.

MetaTrader 5 Platform

SmartFX.com offers the most recent trading innovation through the MetaTrader 5 (MT5) platform. The platform is accessible for download by means of the broker’s site or versatile. The most recent model of the famous MT4 framework, the terminal, is an amazing across the board trading arrangement with a variety of helpful highlights:

  • 21 timeframes
  • Trading signals
  • Built-in Forex VPS
  • Netting and hedging
  • Market event alerts
  • MetaTrader Market
  • 80 built-in analysis tools

Products

SmartFX offers more than 73 forex and CFD trading choices, from major, minor and extraordinary currency pairs to famous commodities like oil and gas. Customers can likewise purchase and sell in indices from significant nations, plus stocks and shares in leading online organizations. While not the most capacious array of trading instruments, our review was fulfilled that the necessities of most traders will be met.

Spreads and Commission

SmartFX isn’t straightforward regarding explicit instrument spreads; notwithstanding, the broker cases that its floating spreads are cutthroat. The absence of information surrounding trading expenses is a worry. Suppliers operating scams often aren’t clear with regards to charges, so this is a warning.

Leverage Review

SmartFX offers the greatest trading leverage of 1:400. Insights about various instrument leverage rates are accessible once the trader’s brilliant record has been endorsed or by means of the demo account. While leverage levels are high, it implies the danger of misfortunes is intensified, so we would suggest approaching cautiously.

Mobile Apps

Customers can download the Shrewd FX application to utilize the MetaTrader 5 stage in a hurry. The application is accessible for iPhone (iOS) and Android (APK) gadgets. Downloads are accessible from the applicable application stores. The application is a magnificent versatile arrangement promising an assortment of instant and pending orders, demo trading, fast installment alternatives and built-in talk support.

Payment Methods

All payment methods at SmartFX permit dealers to store and pull out by means of USD and EUR. Standard payment options, for example, Skrill, Neteller and bank wire transfer, are accessible. It’s allowed to back your account, and preparing times are, for the most part, at once.

This review was satisfied to see storing and pulling out reserves is fast and simple.

Demo Account

A demo account is accessible, which permits clients to work on exchanging on the MT5 stage prior to continuing with a full account. To open a demo account, select Practice from the agent’s landing page. Once you’ve presented some essential subtleties, you can download the MT5 stage and begin exchanging forex and CFD markets without gambling real capital.

Bonuses

At the hour of composing, SmartFX doesn’t offer any store bonuses or promotions. While new merchants might be frustrated, it’s common practice among reputable suppliers not to offer to welcome contracts. In the event that this changes, check the agent’s site before you open an account.

Licensing Review

SmartFX is worked by Smart Securities and Commodities Limited and is controlled by the Vanuatu Financial Services Commissions (VFSC). Lamentably our reviews are constantly frustrated to see oversight from less reputable bodies, like the VFSC. Clients won’t get similar vigorous protections managed by any semblance of the FCA.

Regardless of workplaces in Dubai, SmartFX isn’t approved to offer financial types of assistance in the UAE.

Additional Features

SmartFX offers admittance to the MetaTrader Market, making way for a colossal exhibit of additional pointers, computerized exchanging solutions and outlining apparatuses. The business additionally gives day-by-day market investigation, covering indices and commodities. The only thing missing is hands-on learning assets, for example, webinars, which may dissuade a few fledglings.

Trading Accounts

SmartFX just offers one account, the Smart Account. Registering for the Smart account is fast and easy, requiring a few personal details and identification archives to be transferred. Once opened, users can exchange the full scope of CFDs, forex and futures. The base position size is 0.01 parts, and payments are free.

Benefits

Benefits of trading with SmartFX include:

  • Daily Smart FX signals
  • Decent payment options
  • MT5 downloadable platform
  • Good online customer reviews
  • Easy-to-use demo trading account

Drawbacks

Drawbacks to joining with SmartFX include:

  • MT5 is less user-friendly for beginners
  • Less reputable regulatory oversight
  • No negative balance protection
  • Limited educational tools

Trading Hours

SmartFX offers the choice to exchange 24 hours every day, 5 days per week, effective Monday to Friday. Trading hours for commodities and indices may change. Login to the MT5 platform and head to instrument specifications to see market opening times.

Customer Support

Customer support can be reached through:

  • Phone – +97144319003
  • Email – support@smartfx.com
  • Live chat – situated in the bottom right-hand corner of the site

On testing the live chat administration, reactions were fast. Nonetheless, definite information is just accessible after you’ve given personal contact details.

Client Safety

While SmartFX isn’t straightforward about the security protocols used on its site, the MT5 platform is secure. From 128-bit encryption and 2FA protocols, executed exchanges are moderately safe and the payment options offered are secure.

SmartFX Verdict

SmartFX offers a basic answer for forex and CFD contributing utilizing the business driving MT5 platform. To experience utilizing the broker, clients can open a demo account. SmartFX is not a scam. Users ought to know that the broker is not vigorously controlled and doesn’t offer negative balance protection.

Accepted Countries

SmartFX acknowledges traders from Australia, Thailand, Canada, 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 countries.

Traders cannot utilize SmartFX from the US.

Alternatives to SmartFX

On the off chance that you are searching for alternatives to SmartFX, we have assembled a rundown of the top 5 brokers that are like SmartFX underneath. This rundown of brokers like SmartFX is arranged by closeness and just incorporates organizations that acknowledge traders from your area.

LegacyFX – LegacyFX is a multi-asset broker contributing an MT5 download and free signals.

Infinox – Infinox is a UK-based broker contributing MT4 trading with tight spreads.

Hantec Markets – Hantec Markets is a multi-regulated online FX broker presenting MT4, and custom-made assistance is giving enormous adaptability to suit any trader.

Videforex – Forex broker Videforex acknowledges stores in the scope of cryptocurrencies. Payouts reach 95% per dealing.

RoboForex – RoboForex is a multi-asset online broker contributing incredible trading aides.

FAQ

Is SmartFX regulated?

SmartFX is worked by Smart Securities and Commodities Limited and is regulated by the Vanuatu Financial Services Commissions (VFSC). Note the VFSC isn’t the most reliable regulator.

What trading stages does SmartFX use?

SmartFX just offers one trading stage, the MetaTrader 5 (MT5) terminal. Focused on experienced retail and expert traders, clients get a scope of amazing trading highlights.

Is SmartFX accessible on mobile?

Indeed, the Smart account is accessible to download, and the SmartFX application is viable with the two iOS and Android telephones.

Does SmartFX offer a demo account?

SmartFX permits you to exchange with a training account prior to pursuing their full account. Select Practice from the broker’s site and adhere to the sign-up guidelines.

Who claims SmartFX?

Smart FX is run by Smart Securities and Commodities Limited. Limited data is accessible about the proprietors and supervisory group, which is a little unsettling.

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