Global Broker governance & inquiry App

Score

0123456789
.
0123456789
0123456789
/10

Smarty Trade

Canada|1-2 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://smartytrade.com/en

Website

Rating Index

Contact

+1 829 947 63 93
https://smartytrade.com/en

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Check whenever you want

Download App for complete information

Warning: Low score, please stay away!
Previous Detection : 2024-02-24
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Users who viewed Smarty Trade also viewed..

XM

9.03
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

FXCM

9.46
Score
Above 20 yearsRegulated in AustraliaMarket Making(MM)MT4/5 full license
Official website

GTC

8.15
Score
10-15 yearsRegulated in United KingdomStraight Through Processing(STP)MT4/5 full license
Official website

FxPro

8.93
Score
15-20 yearsRegulated in United KingdomMarket Making(MM)MT4/5 full license
Official website

Smarty Trade · Company Summary

Aspect Information
Registered Country/Area Canada
Company Name SmartyTrade
Regulation Unregulated
Minimum Deposit Not specified
Maximum Leverage Up to 1:100
Spreads Variable (Depends on market conditions)
Trading Platforms Web, Android, iPhone
Tradable Assets Forex, CFD Stocks, Crypto CFDs
Account Types Gold, Silver, Bronze
Demo Account Available
Islamic Account Not specified
Customer Support Phone numbers for various regions, contact form
Payment Methods Visa, Bitcoin, Ethereum
Educational Tools Limited FAQ section in the Education Center

Overview

SmartyTrade is an online trading platform registered in Canada, operating as an unregulated broker. It offers traders the flexibility to choose from three account types: Gold, Silver, and Bronze, each tailored to different trading needs. With a maximum leverage of up to 1:100, traders can access various tradable assets, including Forex, CFD stocks, and Crypto CFDs. The platform is accessible through web, Android, and iPhone devices, making it versatile for traders on the go. While a demo account is available for practice, educational resources are limited to a basic FAQ section in the Education Center. Customer support is provided through phone numbers for different regions and a contact form. Additionally, SmartyTrade accepts Visa, Bitcoin, and Ethereum as payment methods for deposits and withdrawals.

basic-info

Regulation

Smarty Trade, operating as an unregulated broker, has raised concerns in the online trading community due to its lack of regulatory oversight. Unregulated brokers, such as Smarty Trade, may not adhere to the stringent standards and transparency requirements enforced upon their regulated counterparts, potentially putting investors at risk. These concerns revolve around issues of accountability, transparency, and investor protection. Traders and investors should exercise caution when dealing with unregulated brokers, conducting thorough research and considering the risks involved before engaging in any financial transactions. Opting for regulated brokers, which are subject to oversight by recognized financial authorities, can provide a higher level of security and protection for those involved in the trading process.

regulation

Pros and Cons

SmartyTrade presents traders with a mix of advantages and disadvantages. On the positive side, it offers a diverse range of CFDs, three tiered trading accounts, and flexibility in pricing. Leverage of up to 1:100 is also available. The platform is accessible on various devices, and customer support is comprehensive. However, there are notable drawbacks, including the absence of regulatory oversight as an unregulated broker, limited educational resources in the Education Center, and potential concerns regarding investor protection. Traders should carefully consider these factors when choosing to engage with SmartyTrade.

Pros Cons
- Offers a variety of CFDs, including Forex and Cryptos. - Operates as an unregulated broker, raising concerns.
- Three tiered trading accounts cater to different needs. - Limited educational content in the Education Center.
- Leverage of up to 1:100 available for traders. - Lack of regulatory oversight may pose risks to investors.
- Flexible pricing structure with spreads and commissions.
- Multiple deposit and withdrawal options for convenience.
- Versatile trading platform accessible on web and mobile.
- Comprehensive customer support through phone and form.

Market Instruments

products

The company offers a range of CFDs (Contracts for Difference) on its platform, including:

  1. Forex (FX):

    1. Description: Forex CFDs are contracts that allow traders to speculate on the price movements of currency pairs without actually owning the physical currencies. These pairs consist of two currencies, with one being the base currency and the other the quote currency. Traders can profit from both upward (going long) and downward (going short) price movements in these pairs.

    2. Examples: Common forex pairs include EUR/USD (Euro/US Dollar), GBP/JPY (British Pound/Japanese Yen), and USD/JPY (US Dollar/Japanese Yen), among others.

  2. CFD Stocks:

    1. Description: CFDs on stocks allow traders to speculate on the price movements of individual company shares without owning the underlying stocks. This means traders can potentially profit from both rising and falling stock prices.

    2. Examples: You can find CFDs on a wide range of individual stocks from various stock exchanges around the world. Examples may include Apple Inc. (AAPL), Google parent company Alphabet Inc. (GOOGL), or Amazon.com Inc. (AMZN).

  3. Crypto CFDs:

    1. Description: Crypto CFDs are contracts that enable traders to speculate on the price movements of cryptocurrencies like Bitcoin, Ethereum, Ripple, and many others without owning the actual digital assets. These CFDs offer a way to trade cryptocurrencies within the framework of traditional financial markets.

    2. Examples: Common cryptocurrency CFDs include BTC/USD (Bitcoin/US Dollar), ETH/USD (Ethereum/US Dollar), and XRP/USD (Ripple/US Dollar), among others.

Account Types

The broker offers three tiered trading accounts: Gold, Silver, and Bronze, each tailored to meet the distinct needs of traders.

Gold Account:

  • Benefits: 24/7 live chat support, 1-hour withdrawals, +50% bonus, demo account, Copy Trading tool, Master class sessions, first 3 risk-free trades, personal success manager.

Silver Account:

  • Benefits: All Gold account features, +100% bonus.

Bronze Account:

  • Benefits: All Silver account features, +150% bonus, ideal for experienced traders.

Here's a concise table summarizing the key features:

Account Type Live Support Withdrawal Time Bonus Demo Account Copy Trading Master Class Risk-Free Trades Personal Success Manager
Gold 24/7 1 hour 0.5 Yes Yes Yes First 3 Yes
Silver 24/7 1 hour 1 Yes Yes Yes First 3 Yes
Bronze 24/7 1 hour 1.5 Yes Yes Yes First 3 Yes

These account types offer traders flexibility and varying levels of support to match their trading goals and experience.

account-types

Leverage

This broker offers a maximum trading leverage of up to 1:100, allowing traders to control a position size up to 100 times their initial capital. High leverage can amplify both profits and losses, so it's essential for traders to use it cautiously and employ effective risk management strategies to protect their investments. Understanding the implications of leverage and trading according to one's risk tolerance and experience is crucial when utilizing this level of leverage.

leverage

Spreads & Commissions

The company employs a flexible pricing structure that involves spreads and commissions, which can vary depending on the specific financial instruments and trading accounts used.

Spreads: Spreads are commonly applied as trading costs and are dynamic, taking into account factors like market liquidity and competitiveness. The company reserves the right to adjust spreads, particularly during periods of increased volatility or market illiquidity.

Commissions: Commissions are charged for specific trading scenarios:

  • For unleveraged Cryptocurrency CFD positions, a commission ranging from 1% to 2.5% may apply.

  • Leveraged Cryptocurrency CFD positions may incur a commission of up to 5% of the transaction.

Swap Fee: Clients may also be subject to a swap fee for holding positions overnight, currently set at 0.07% of the position's face value. This fee calculation involves a fixed percentage and the Libor rate.

The company maintains the flexibility to modify pricing to adapt to market conditions. Clients can find details about these costs on the company's website under “General Fees,” and the company may provide prior notice of any changes in costs. Importantly, the absence of certain charges at one time does not preclude their application in the future. This pricing structure ensures transparency and allows clients to understand the potential costs associated with their trading activities.

spreads-commission

Deposit & Withdrawal

deposit-withdrawal
  • Visa: Clients can use Visa cards to deposit funds instantly into their accounts. This widely accepted payment method offers a seamless way to fund trading activities.

  • Bitcoin: Cryptocurrency enthusiasts can utilize Bitcoin for both deposits and withdrawals. This decentralized digital currency provides clients with a secure and efficient means of managing their funds.

  • Ethereum: Ethereum, another popular cryptocurrency, is also available for deposits and withdrawals. It offers fast and secure transactions, catering to clients who prefer using Ether.

  • All Regions Covered: Regardless of their location, clients from around the world can take advantage of these deposit and withdrawal options. The company's services are accessible globally, ensuring inclusivity.

  • Instant Funding: Clients benefit from instant funding, allowing them to quickly access their deposited funds. This ensures they can initiate trades or investments promptly.

  • Up to 1 Hour for Withdrawal: Withdrawals are processed efficiently, with funds typically becoming available within 1 hour. This quick turnaround time provides clients with timely access to their withdrawn assets.

In summary, the company offers a range of deposit and withdrawal options, including Visa, Bitcoin, and Ethereum, with a focus on speed and accessibility. Clients can choose the method that suits their preferences and geographic location, ensuring a seamless financial experience.

Trading Platforms

SmartyTrade offers a versatile trading platform for Options and CFD trading, accessible in three versions: web, Android, and iPhone. Key features include:

  • Asset Selection: Traders can choose from a variety of assets via a dropdown menu.

  • Live Charts: Real-time charts are available for all CFDs, aiding in technical analysis.

  • Instant Execution: Traders can swiftly execute trades to seize market opportunities.

  • Trade History: Users can access their entire trade history for review.

  • Mobile Access: Android and iPhone platforms allow trading on the go.

  • User-Friendly: The platform is intuitive, suitable for traders of all levels.

  • Trading Options: It supports regular options and CFD trading.

  • Funds Management: Traders can withdraw funds conveniently.

  • Live Video Chat: Live video chat support is available for immediate assistance.

SmartyTrade's platform ensures a seamless trading experience with accessibility, usability, and essential tools for traders.

trading-platform

Customer Support

SmartyTrade offers comprehensive customer support to assist users with their inquiries, issues, and trading needs. Here's how you can get in touch with their customer support:

Phone Numbers:

  • +1 829 947 63 93 (Canada, Montreal)

  • +44 208 068 53 35 (United Kingdom, London)

  • +3 395 03 96 (China, Hong Kong)

  • 081 855 70 55 (Thailand, Bangkok)

  • +7 499 703 37 74 (Russia, Moscow)

These phone numbers cater to clients in various regions, ensuring that they have access to direct support when needed.

Contact Form:

Users can also reach out to SmartyTrade by filling out a contact form, providing essential details like their name, email, phone number, and a message. The support team will respond to inquiries submitted through this form.

customer-support

Educational Resources

The Education Center on SmartyTrade's platform, accessible via the link provided, appears to offer a disappointingly limited resource for traders seeking comprehensive information. With only a basic FAQ section, it falls short of providing in-depth educational content that would empower traders to make informed decisions and improve their trading skills. The absence of more extensive educational resources leaves users with unanswered questions and a lack of essential guidance, ultimately diminishing the overall value of the platform's support for its clients.

educational-resources

Summary

SmartyTrade, an unregulated broker, raises concerns due to its lack of regulatory oversight, potentially exposing investors to risks related to accountability, transparency, and investor protection. It offers a range of CFDs on its platform, including Forex, CFD stocks, and Crypto CFDs, allowing traders to speculate on various financial instruments. The broker provides three tiered trading accounts - Gold, Silver, and Bronze - catering to different trading needs. Leverage of up to 1:100 is available for traders but should be used cautiously. The company's pricing structure includes spreads and commissions, with flexibility based on the financial instruments and accounts used. Deposit and withdrawal options include Visa, Bitcoin, and Ethereum, with a focus on speed and accessibility. The versatile trading platform is available on the web, Android, and iPhone devices. While customer support is comprehensive with phone numbers for various regions, the education center's limited content may leave traders seeking more in-depth knowledge disappointed.

FAQs

Q1: Is SmartyTrade a regulated broker?

A1: No, SmartyTrade operates as an unregulated broker, which means it lacks oversight from recognized financial authorities. Traders should exercise caution when dealing with unregulated brokers.

Q2: What assets can I trade on SmartyTrade's platform?

A2: SmartyTrade offers a range of CFDs, including Forex (currency pairs), CFD stocks (individual company shares), and Crypto CFDs (cryptocurrencies like Bitcoin and Ethereum).

Q3: What are the advantages of the Gold trading account?

A3: The Gold account offers benefits such as 24/7 live chat support, 1-hour withdrawals, a +50% bonus, a demo account, Copy Trading tools, Master class sessions, the first 3 risk-free trades, and a personal success manager.

Q4: Does SmartyTrade offer educational resources?

A4: SmartyTrade provides an Education Center, but it currently offers a limited FAQ section. While it may help with basic queries, it may not provide in-depth educational content.

Q5: How can I contact SmartyTrade's customer support?

A5: You can reach SmartyTrade's customer support through phone numbers provided for various regions, including Canada, the UK, China, Thailand, and Russia. Additionally, you can use a contact form on their platform for inquiries.

Broker Information

Company Name

Smarty Trade LTD

Company Abbreviation

Smarty Trade

Regulatory Status

No Regulation

Platform registered country and region

Canada

Company website
Phone of the company
  • +1 829 947 63 93

  • +44 208 068 53 35

  • +7 499 703 37 74

  • +66 081 855 70 55

Twitter

--

Facebook

--

Instagram

--

YouTube

--

Company address

--

Linkedin

--

WhatsApp

--

QQ

--

WeChat

--

Customer Service Email Address

--

Company Summary

User Reviews

Sort by content

  • Sort by content
  • Sort by time

User comment

7

Comments

Write a review

Guy Reese
0-3months
I really appreciate how quickly SmartyTrade's support team responds whenever I need assistance. It's a great comfort to know that they're always there for me as a trader. Not too long ago, I encountered a pressing withdrawal problem and was worried about being stuck in a lengthy resolution process. However, when I reached out to support at 1 AM, I was pleasantly surprised by the prompt and reassuring response from an agent named Carl. In just a matter of minutes, he quickly assessed my situation and efficiently processed the payout. Having a safety net available at all times, even with SmartyTrade being a newer broker, gives me peace of mind. Their exceptional support makes up for their limited experience.
2024-02-06 15:40
Reply
0
0
Robert Hudson
0-3months
The quick crypto and wire transfer funding options at SmartyTrade allow me to capitalize on short-term market moves with ease. One experience I can't forget was during NFP week in January, when unexpected results came out that made me want to go long USDCAD quickly. Within an hour, I wired money from my Binance wallet and entered the trade in time to ride the initial wave down. Such seamless deposit capabilities keep me constantly prepared to react. The only thing I don't like about SmartyTrade is that the interface feels slightly outdated visually compared to some sleeker platforms. But the swift funding versatility enables me to trade nimbly without waiting on deposits.
2024-02-04 17:22
Reply
0
0
Aaron Delacruz
0-3months
If you want to make lots of money from trading the financial markets, you should use SmartyTrade. I funded my account with $50 to trade, turning it into $750 trading forex binary options. It was easy because they offer high percentage payouts on binary options trades. The trading tools on the platform made it easy for me to employ my trading strategy. The only thing I wish that was better about this platform was the user interface. It would be nice if SmartyTrade made it more user-friendly and intuitive, especially for new traders.
2023-12-03 23:34
Reply
0
0
Roland5942
0-3months
As a new trader, I appreciate SmartyTrade's 24/7 multilingual customer support. When I had questions about setting up my account, their live chat agents were extremely helpful in troubleshooting issues in my native language, even late at night. However, I dislike that SmartyTrade does not offer the popular MetaTrader platform. Their proprietary web and mobile platforms feel unintuitive and lack custom indicators I'm used to. But responsive customer service around the clock as I learn the ropes has made up for the platform's weaknesses so far.
2023-12-02 17:02
Reply
0
1
Tim9435
3-6months
As a total beginner, SmartyTrade's copytrading capabilities have been invaluable for helping me get off to a strong start trading forex. Being able to mirror professional veterans' strategies and trades with the single click of a button has let me generate returns while learning the ropes at my own pace. SmartyTrade's intuitive copying interface makes getting started duplicating proven methods simple for newcomers like myself. I think SmartyTrade's user-friendly copytrading platform is excellent and superb for accelerating success as a novice trader.
2023-11-04 17:28
Reply
0
2
Donald306
3-6months
The copytrading platform that SmartyTrade provides has been of tremendous assistance to me as a complete newcomer who is just starting out in the foreign exchange market. I am learning the ropes the right way. My self-assurance has increased, and I have been able to learn from successful strategies thanks to the fact that I can replicate the trades and strategies used by professional traders with just the click of a button. Even for total newcomers like myself, SmartyTrade's streamlined and user-friendly copy interface makes it simple to begin emulating the trading strategies of veterans. It is a great tool for quickly replicating strategies without any hassle.
2023-10-25 18:17
Reply
0
1
Ty2737
6-12months
0 STARS I invested 5k with Smartytrade.com a binary options broker. After fees about 3300 was left in my account. The way the markets on the platform move don’t even reflect how the actual markets move. They have taken multiple trades even when they were supposed to be breakevens trades. This was back in November of 2022. I have been requesting to withdrawal all my money and close my account since December of 2022. When I reach out by email, I get generic responses about sorry it’s been delayed and someone will reach out. No one has reached out to me about my withdrawals I have made since December! I have made calls, I have sent out emails and I keep coming up empty. This is very frustrating and I deposited by BTC thru a BTC atm. I just need all my 5k back and would be great to go after damages and losses. Trading is how I pay my bills and feed my family. That has delayed me for 6 months now. I’ve had to find other means of providing and it shouldn’t be that way especially if it’s not my fault.! Update: still waiting on my money to be withdrawn and to close my account. They choose to argue, hang up on you, be disrespectful, and will hold your money because you are reaching out to them about YOUR MONEY!!
2023-07-13 06:51
Reply
0
1
TOP
Select Country/District
United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;+44-7517747077
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com