SmartFX

Basic Information & Regulation

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

Security analysis

SmartFX claims to be regulated by Vanuatu VFSC, but this offshore regulatory license does not strictly regulate forex trading, which means that compared with those brokers regulated by the UK FCA, Cyprus CySEC, investors can not enjoy any protection for their capital security and trading activities on the SmartFX platform.

Financial instrument

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

Accounts & Leverage

The type of account information on the SmartFX platform is not provided, and the minimum account deposit is 500 USD. SmartFX provides investors with a maximum trading leverage of 1:400, please note that while high leverage can maximize returns, it also maximizes risk.

Spreads & Fees

The EURUSD spread on the SmartFX platform is more than 1.7 points, which is far higher than market standards. In addition, when tested on the SmartFX trading platform, it was found that a commission of $20 / lot was required, which was equivalent to a EURUSD spread of 3.7 points, which was unacceptable.

Trading platform

SmartFX provides investors with the market's advanced MT5 trading platform, MT5 is the latest version of MT4, with more technical indicators and time horizons, enabling traders to use EA for automated trading.

Receipts and receipts

SmartFX allows traders to transfer funds to and from their investment accounts via wire transfer, VISA, MasterCard,Skrill, Neteller.