Headquartered in Vanuatu with a representative office in Dubai, SmartFX is a regulated brokerage firm that came into existence in 2018. They provide traders with the MetaTrader 5 platform for trading multiple financial markets, including forex, commodities, stocks, indices, metals, and CFDs. The broker provides traders with some educational resources and also offers a professional-client support team to assist them. Traders benefit from competitive trading conditions, such as zero commissions, dynamic spreads, and leverage of up to 1:400. The minimum deposit required to operate a live trading account is $500.
SmartFX Review Introduction
In this SmartFX 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.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including SmartFX.
SmartFX Platforms & Tools
Trades are carried out using the MT5 trading platform, an advanced platform that was launched in 2010 to succeed the MT4 trading platform. It has all the basic features and trading capabilities of its predecessor, including technical analysis tools, drawing tools, fundamental analysis, VPS, expert advisors, multiple timeframes, and more, but also has some advanced features and extended capabilities. The platform is available in the following versions: a desktop application for Windows and Mac computers, a web version that can run directly on most modern web browsers, and a mobile trading app that is compatible with Android and iOS devices.
SmartFX Research & Education
There is a limited selection of educational resources on the broker’s website. However, the website has a daily market analysis section that contains an analysis of price movements and possible future price targets in the financial markets.
SmartFX Trading Accounts
The broker allows traders to open a single live trading account that is referred to as the ‘Smart Account’. It offers competitive spreads and maximum leverage capped at 1:400. The trade sizes start from as low as 0.01 lots, while a minimum deposit of $500 is required to operate a live trading account. Beginner traders can also use SmartFX’s demo account to get acquainted with the broker’s platforms before opening a live trading account.
SmartFX Account Funding
Traders can deposit and withdraw funds to and from their trading accounts using any of the following payment methods: bank wire transfer, credit/debit cards, and electronic payment gateways (Neteller, Skrill, and STICPAY).
Some payment methods are not available in specific countries, and the transaction processing time may vary depending on the payment method in use.
SmartFX Customer Service
SmartFX provides traders with a professional customer support team that is available 24/5 to respond to their various inquiries. They can be contacted via telephone, email, and Live Chat.
SmartFX is owned and operated by Smart Securities and Commodities Limited. The broker is regulated by the Vanuatu Financial Services Commission (VFSC) and authorized to deal with securities whilst providing all kinds of financial services to their clients.
SmartFX Review Summary
SmartFX is an online trading broker that offers access to trade multiple financial instruments through the MT5 trading platform, which is available in the desktop, web, and mobile versions. Traders benefit from some educational resources and a 24/5 customer support team. They offer a single live trading account with a minimum deposit requirement of $500 and a minimum lot size of 0.01. No commission is charged on trades, while leverage of up to 1:400 is available. The broker is regulated by the VFSC.
It is worth mentioning that some of the trading products and services in this SmartFX 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 SmartFX 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.