United Kingdom|2-5 years| https://www.smartcontractslimited.com/
Website
MT4/5 Identification
White Label
United Kingdom
Single Core
1G
40G
More
Smart Contract Ltd
Smart Contract
United Kingdom
Pyramid scheme complaint
Expose
TOMONARI SAWA
The company agent don’t answer my request to withdraw. The homepage don’t is estable… disapear and apear many times
At first, they helped you to earn profits. When you wanted to withdraw, you had to pay 30% personal tax or you were unable to withdraw. Your assets could be taken away by them without your permission.
Smart Contract Group Limited says that if you want to withdraw to a fraudulent broker, it will cost money to withdraw, and the broker and the soliciting woman will become a guru and make a fake transaction and the funds will be negative in a few minutes
Beware of it. Do not trade with it.
You can withdraw if the payment was separated. Arrears fee was 5% per day. The amount will disappear in 20 days. What can I d?
After all it was a fraudulent company. When it comes to withdrawal, a broker and a Singaporean woman who acts as a solicitor become a guru and raise the volume to make a transaction and it is negative in a blink of an eye
I deposited $40 to this brooker though vload no issues! and once I decided i wanted to withdraw my $400 profit vload and tradersway, continue to deny me withdrawal stating Vload does accept withdrawal from us resident, yet their brain cannot understand that I am not a u.s resident.
Their license, website and grades were fake.
It was a fake broker who cheated investors. We should expose it on every investment forum. Please stay away from it. I lost $33800 and $6400. Beware of it.
I was introduced to Smart Contract Group Limited by a Singaporean woman who was a solicitor, and when I tried to withdraw with a little profit, I was forced to make a transaction and it was a minus in a blink of an eye, it was a complete scam here
I lost $6464 and $33840 in my mt5 account. I could not contact with support@smartcontractlimited for 6 months and reported the platform to the bank, police and FBI. They were Nguyen Phuong Lan (Sonya) and Ma Thi Dao Vietcombank. MB account: Vu Anh Tuan, 5678928051988. Zhang Yifei’s account: 13135125.
They asked for 20% tax before withdrawing and ran away after the payment done.
I deposited $50 to this brooker though vload no issues! and once I decided i wanted to withdraw my $400 profit vload and tradersway, they are not allow me to do withdrawal .
My mum was introduced to this app by her business partner, her partner gave her a guaranty that the app is secured and trusted but unfortunately she was scammed, they stop replying her text after collecting her money, pls be at alert in this app...
Hello friends. I opened an account and invested at Smartcontractlimited exchange.When I want to withdraw, they ask me to pay 20% tax. When I complete the tax transfer to them, they inform, the customer of the service will wait 1-3 days to reply to me.and since this day i have not been able to contact them anymore, they have blocked all my communication.
Note: Smart Contracts official site - https://www.smartcontractlimited.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
| Smart Contract Review Summary in 10 Points | |
| Founded | N/A |
| Registered Country/Region | United Kingdom |
| Regulation | NFA (unauthorized) |
| Market Instruments | forex currency pairs, commodities, shares, indices, and cryptocurrencies |
| Demo Account | N/A |
| Leverage | 1:500 |
| EUR/USD Spread | From 1.3 pips (STD) |
| Trading Platforms | MT4/5 |
| Minimum deposit | $100 |
| Customer Support | |
Smart Contract is a multi-asset broker based in the United Kingdom, providing traders with access to a diverse range of trading instruments through the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). However, it is important to note that the NFA license of Smart Contract is unauthorized, which raises concerns about the regulatory status of the broker. Additionally, the current unavailability of the broker's website further adds to the uncertainty surrounding its operations.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
| Pros | Cons |
| • Wide range of trading instruments | • Unauthorized NFA license |
| • MT4/5 supported | • Unavailable website |
| • Popular payment methods available | • Reports of withdrawal issues and scams |
| • Only email support |
There are many alternative brokers to Smart Contract depending on the specific needs and preferences of the trader. Some popular options include:
Vantage FX - for traders seeking a wide range of trading instruments and competitive trading conditions.
Forex Club - for beginner traders looking for comprehensive educational resources and user-friendly trading platforms.
Global Prime - for experienced traders seeking a reputable and regulated broker with competitive pricing and excellent customer service.
Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.
Based on the information available, it appears that Smart Contract operates without valid regulation and holds an unauthorized National Futures Association (NFA, License No. 0538567) license. This lack of regulation and authorization raises concerns about the safety and legitimacy of the platform. Additionally, the website is down currently. It is important for traders to exercise caution and conduct thorough research before engaging with unregulated platforms, as they may pose higher risks.
Smart Contract claims to offer a variety of tradeable assets, including forex currency pairs, commodities, shares, indices, and cryptocurrencies. These market instruments provide traders with a diverse range of options to engage in different financial markets.
Forex currency pairs allow traders to speculate on the exchange rate movements between various currency pairs. Commodities, such as gold, silver, and oil, provide opportunities to trade based on supply and demand dynamics in the global commodity markets. Shares allow traders to invest in individual stocks of publicly traded companies. Indices represent a basket of stocks and provide an opportunity to trade on the overall performance of a specific market. Lastly, cryptocurrencies, like Bitcoin and Ethereum, offer traders the ability to participate in the growing digital currency market.
However, it's important to note that due to the unregulated nature and unavailable website of Smart Contract, the actual availability and reliability of these market instruments cannot be independently verified.
Smart Contract offers two types of trading accounts: STD (Standard) and Prime. The STD account requires a minimum deposit of $100, making it accessible for traders with smaller capital. This account type may be suitable for beginners or those who want to start with a lower investment.
On the other hand, the Prime account requires a higher minimum deposit of $1,000, indicating that it is designed for more experienced traders or those who are willing to commit a larger amount of capital.
Smart Contract offers leverage of up to 1:500, which provides traders with the opportunity to amplify their trading positions. With a leverage ratio of 1:500, traders can control a larger position in the market compared to their available capital. This high leverage allows for the potential of magnified profits, but it's important to note that it also carries an increased level of risk.
While leverage can enhance trading opportunities, it also exposes traders to higher potential losses. It is crucial for traders to exercise caution and employ effective risk management strategies when utilizing high leverage. It is recommended that traders fully understand the implications of using leverage and consider their risk tolerance and trading objectives before engaging in leveraged trading with Smart Contract or any other platform.
Smart Contract offers competitive spreads for both of its account types. For the STD account, the spreads start from 1.3 pips, which is relatively competitive within the industry. On the other hand, the Prime account offers even tighter spreads, starting from as low as 0.1 pips. These low spreads can potentially benefit traders by reducing their trading costs and improving their overall trading experience.
However, it is important to note that there is no specific information available regarding commissions. Traders should review the platform's terms and conditions or contact customer support to obtain accurate information about any potential commissions that may apply to their trading activities. It is always recommended to have a clear understanding of all costs involved, including spreads and commissions, before engaging in trading with Smart Contract or any other broker.
Below is a comparison table about spreads and commissions charged by different brokers:
| Broker | EUR/USD Spread | Commission |
| Smart Contract | 1.3 pips (STD) | N/A |
| Vantage FX | 1.2 pips | $7 round-turn |
| Forex Club | 1.0 pips | Varies by account type |
| Global Prime | 0.0 pips | $7 round-turn |
Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.
Smart Contract provides traders with access to two widely recognized and popular trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are renowned for their advanced features, user-friendly interface, and robust trading capabilities. MT4 and MT5 offer a wide range of tools and functionalities that cater to the needs of both beginner and experienced traders.
Traders can benefit from comprehensive charting tools, technical indicators, and a variety of order types for precise trade execution. The platforms also support automated trading through the use of expert advisors (EAs) and allow traders to develop and implement their own trading strategies.
See the trading platform comparison table below:
| Broker | Trading Platforms |
| Smart Contract | MT4, MT5 |
| Vantage FX | MT4, MT5, WebTrader |
| Forex Club | Libertex, MetaTrader 4 |
| Global Prime | MetaTrader 4, cTrader |
Smart Contract accepts credit/debit cards, wire transfer, and a couple of alternative methods. The minimum deposit requirement is stated to be $100. However, we didnt find any more detailed information about fees and processing time.
| Smart Contract | Most other | |
| Minimum Deposit | $100 | $100 |
Smart Contract provides customer support primarily through email communication. Traders can reach out to the support team via email to address any inquiries, concerns, or issues they may have. While email support can be effective in addressing various matters, it is important to note that the lack of alternative contact methods such as phone support or live chat may limit the immediacy of assistance.
| Pros | Cons |
| N/A | • No 24/7 customer support |
| • Limited customer service channels (only email) | |
| • Lack of live chat or phone support |
Note: These pros and cons are subjective and may vary depending on the individual's experience with Smart Contract's customer service.
On our website, you can see that some reports of unable to withdraw and scams. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.
As a whole, Smart Contract is an unregulated platform, and there have been reports of withdrawal issues and scams associated with it. Traders are advised to exercise caution and thoroughly research the platform before engaging in any transactions. The lack of regulatory oversight and the potential risks involved in trading on an unregulated platform should be carefully considered. It is recommended to explore regulated and reputable alternatives that prioritize investor protection and adhere to industry standards.
| Q 1: | Is Smart Contract regulated？ |
| A 1: | No. Smart Contract National Futures Association (NFA, License No. 0538567) license is unauthorized. |
| Q 2: | Does Smart Contract offer the industry leading MT4 & MT5？ |
| A 2: | Yes. It supports MT4 and MT5. |
| Q 3: | What is the minimum deposit for Smart Contract？ |
| A 3: | The minimum initial deposit to open an account is $100. |
| Q 4: | Is Smart Contract a good broker for beginners？ |
| A 4: | No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website. |
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2023-02-27 18:35
