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The Australian Securities and Investments Commission (ASIC) is an independent Australian government body that acts as Australia's corporate regulator, which was established on 1 July 1998 following recommendations from the Wallis Inquiry. ASIC's role is to enforce and regulate company and financial services laws to protect Australian consumers, investors and creditors. ASIC's authority and scope were determined by the Australian Securities and Investments Commission Act, 2001.
License Type:Appointed Representative(AR)
Regulated in Country/AreaAustralia
Regulatory License No.：001283553
Email Address of Licensed Institution :email@example.com
License Type:No Sharing
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :1003 377 Kent St Sydney NSW 2000
Phone Number of Licensed Institution :1300 669 605
Licensed Institution Certified Documents :Annex1
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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.
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).
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).
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.
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.
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
The Database of WikiFX comes from the official regulatory authorities , such as the FCA, ASIC, etc. The published content is also based on fairness, objectivity and fact. WikiFX doesn't ask for PR fees, advertising fees, ranking fees, data cleaning fees and other illogical fees. WikiFX will do its utmost to maintain the consistency and synchronization of database with authoritative data sources such as regulatory authorities, but does not guarantee the data to be up to date consistently.
Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.