Samtrade Fx is an online trading broker that was incorporated in Saint Vincent and the Grenadines in 2015. With its core operations in the Asia-Pacific region, the broker is headquartered in Shanghai China and has regional offices in Hong Kong and Singapore. The broker offers over 30,000 retail and institutional clients access to trade multiple forex currency pairs, indices, and commodities via the MetaTrader 4 trading platform.
Samtrade FX states that it operates the STP/ECN execution model and has No Dealing Desk (NDD) intervention. Hence, it offers affordable, swift, and reliable access for online trading of global markets. The broker aggregates its prices from various liquidity providers and streams them directly to the MT4 trading platform. They have won numerous brokerage awards, including the ‘Best STP/ECN Broker 2016’ at China (Shenzhen) Forex Expo, and the ‘Best Forex Broker of the Year 2017’ at the China International Investments and Financial Expo.
Samtrade FX Review Introduction
In this Samtrade FX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
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Samtrade FX Platforms & Tools
The broker provides traders with the powerful and intuitive MetaTrader 4 trading platform, which is popular amongst forex and CFD traders because of its abundance of tools and features, including technical analysis tools, multiple order types, and multiple chart timeframes. It has a user-friendly interface that makes it suitable for traders of all experience levels, while its capabilities can be expanded through the installation of some plug-ins. The MT4 platform supports the automation of trading strategies with Expert Advisors (EAs), which can also be backtested over historical data using the MT4 strategy tester.
Samtrade FX offers the MT4 platform as a desktop application for Windows and Mac computers, a WebTrader that runs directly on modern web browsers, and the MT4 mobile app which is compatible with Android and iOS devices. The mobile app can be downloaded from the relevant app store, and it is recommended for traders who wish to manage their accounts and place trades while on the go.
Clients enjoy access to a range of useful trading tools including the Economic Calendar, which lists economic events along with the impacts they had or are expected to have on the financial markets; SamTrack, a portfolio management service that allows you check performances, allocate funds, and monitor the process; CopySam, which is a trade copy service that allows traders to copy and follow the trades of other traders; and Trade Signals.
Samtrade FX Research & Education
Samtrade FX provides traders with their Trading Academy, which has 6 articles providing information on the basics of forex, CFD, and commodity trading and also contains important trading terms necessary for every trader. There is also the Trader’s Club wherein experienced instructors teach the students many aspects of online trading and provide mentorship and consultation. Market analysis is available after the training period to ensure that the students were able to grasp what was taught.
Samtrade FX Trading Accounts
The broker provides traders with a choice of different account types including the Standard, Joint, Corporate, Islamic, and Demo Accounts. The various account types are geared towards meeting each trader’s needs, strategies, and capital. The benchmark EURUSD spread ranges from 1.7 to 2.0pips. A commission of $5 per lot is charged on every forex and commodities trade, while $1 per lot is charged on indices.
Samtrade FX Account Funding
The following payment methods are available at Samtrade FX: Bank Transfer and Debit/Credit Cards such as Visa, MasterCard, and UnionPay cards. The transaction fees, limits, and processing times are dependent on the payment method in use.
Samtrade FX Customer Service
Samtrade FX responds to customer inquiries 24/5, from Monday to Friday, through the contact form on the broker’s website. They also have a Facebook page under the name ‘Samtrade FX’ which can also handle inquiries. However, the instant live chat option is only available to registered clients.
Samtrade FX Regulation
Samtrade is regulated by the Financial Services Authority of Saint Vincent and the Grenadines (FSA SVG). It is also authorized and regulated by the Australian Securities and Investments Commission (ASIC) with AFSL number: 001281861. In Canada, the broker is regulated by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with the registration number: M19977589.
Samtrade FX Review Summary
Samtrade FX is a multi-regulated financial brokerage firm that specializes in the provision of online forex and CFD trading services to retail and institutional traders. Samtrade FX operates an STP/ECN brokerage model, offering competitive trading conditions. They provide traders with the MT4 platform, a range of useful trading tools, and multiple account options.
It is worth mentioning that some of the trading products and services in this Samtrade FX review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Samtrade FX broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.