General Information & Regulation
Samtrade FX was incorporated in Saint Vincent and Grenadines in 2015. They have a regional presence in the United Kingdom, Australia, Malaysia, Indonesia, Thailand, Hong Kong as well as Shanghai. The broker has the core of its operations in the Asia-Pacific region where it is headquartered in Malaysia. Presently, the broker has over 50,000 retail and institutional customers. Samtrade FX is authorized and regulated by the Australian Securities and Investments Commission (ASIC) with AFSL number 001281861.
Market Instruments
The broker provides investors with tradable instruments for forex (major and minor currency pairs), CFD products, and commodities (gold, silver, crude oil, and natural gas).
Minimum Deposit
To satisfy different investors' investment needs, the company has set up five types of accounts, namely Standard (minimum deposit of $10), Islamic (minimum deposit of $10), STP (minimum deposit of $10), VIP (minimum deposit of $10) and ECN (minimum deposit of $100,000).
Leverage
SAMTRADE FX allows its traders to use a maximum leverage ratio of up to 1:200,which is considered high.
Spreads & Commissions
No commission is charged for all account transactions, and commission fees are built into spreads. The average spread of major currency pairs is EURUSD 1.7-2.0 pips, GBP/USD2.4-2.6 pips, EUR/GBP 2.4-2.7 pips. CFD products in the lowest average spread for the ASX200 (200AUD) 6 pips, the average spread for the Gold/USD 30-42 cents, the average spread for the SilverUSD 3.0-3.5 cents, crude oil spreads for 5.0 cents, and natural gas spread 5.0 cents.
Trading Platform
Samtrade uses the world's leading MT4 trading platform. MT4 can be available for more than 30 languages, with a straightforward interface, easy to understand. The charts and trading platform seamlessly integrated, able to open and monitor an unlimited number of maps simultaneously. The platform supports both Apple and Android cell phones, providing instant quotes and fast trade execution.
Deposit & Withdrawal
The broker supports bank transfers and Union Pay channels for deposits and withdrawals. The minimum amount of deposit and withdrawal through bank transfer is 20 USD, taking 1-4 banking days to deposit or withdraw, and clients bear the cost. The minimum amount of deposit and withdrawal through Union Pay is USD 20 or equivalent currency amount. The instant arrival of the deposit takes 1-4 working days to withdraw, and the user bears the forex rate and wire transfer fees.
Customer Support
Samtrade FX claims to respond to customer inquiries from Monday to Friday (24/5) through the contact form on the brokers website. They also have a Facebook page under the name ‘Samtrade FX’ which can also handle enquiries. The instant web chat is only accessible by registered clients. Disappointingly, there is no contact telephone number to reach the brokerage directly
