SmartFX

General Information & Regulation

Established in 2018, SmartFX is a Vanuatu-based registered online Forex and CFD broker. SmartFX is owned and operated by SECURITIES & COMMODITIES LIMITED, which is regulated by the Financial Services Commission of Vanuatu.

Market Instruments

SmartFX claims to offer investors access to over 100 popular financial trading assets, including Forex currency pairs, commodities, indices, and metals.

Minimum Deposit

SmartFX offers all investor a Smart account, which requires to fund at least $500 , obviously higher than sector standards. Many brokers only requires an initial deposit of $100 to $200 to open an account for the first time.

SmartFX Leverage

SmartFX offers investors maximum trading leverage of 1:400. Please note that while high leverage maximizes returns, it also maximizes risk.

Spreads & Commissions

The spreads on the SmartFX platform for EURUSD are over 1.7 pips, which is well above the market standard. Additionally, when testing on the SmartFX trading platform, it was found that a commission of $20 per lot was required, which equates to a spread of 3.7 pips on the EURUSD, which is unacceptable.

Trading Platforms

SmartFX offers investors the market-leading MT5 trading platform. MT5 is the latest version of MT4 with more technical indicators and timeframes and supports traders in automated trading with EA's.

Deposit & Withdrawal

SmartFX supports traders to deposit and withdraw funds to their investment accounts via wire transfer, VISA, MasterCard, Skrill, Neteller. The minimum withdrawal is 100 USD for Electronic Payment Methods, Credit/Debit cards and Bank Wires as well.