According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $500
- MetaTrader5
- 2004
Our Evaluation of SmartFX
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
SmartFX is a moderate-risk broker with the TU Overall Score of 5.62 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by SmartFX clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
SmartFX is a broker that focuses on working with experienced traders that prefer to use the Straight-through Processing (STP) mechanism of trading.
Brief Look at SmartFX
SmartFX is an STP broker that was established in 2018. The company holds the brokerage license of the Vanuatu Financial Services Commission (VFSC). The broker offers a single Standard account for trading currency pairs, stock indices, precious metals and energies. Smart FX allows all trading strategies, including hedging, algorithmic trading, Expert Advisors and copy trading.
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- Regulated by an international financial commission.
- Wide selection of trading assets of various classes.
- Spreads at the same level as competitors and not only for majors.
- The broker does not charge non-trading fees for deposit and withdrawal of funds.
- Universal MT5 trading platform (desktop and mobile versions).
- Possibility of trading with leverage.
- Access to passive income options available on MetaTrader: copy trading, script trading and EAs.
- The minimum deposit amount is too high for a novice trader.
- No referral program for retail traders.
- No bonuses, cent accounts and quality education.
TU Expert Advice
Author, Financial Expert at Traders Union
SmartFX offers trading over 2,000 financial instruments, including Forex and CFDs on stocks, indices, and commodities via the MetaTrader 5 platform. The broker provides a single Standard account with leverage up to 1:400, supporting hedging, algorithmic trading, and copy trading. Its clients benefit from zero deposit and withdrawal fees, making financial transactions straightforward and cost-effective.
On the downside, SmartFX's minimum deposit of $500 could be a disadvantage for novice traders with limited capital. The broker's regulation by VFSC may not meet the expectations of those prioritizing regulation by more recognized authorities. SmartFX may be more suitable for experienced traders comfortable with higher deposit requirements and seeking advanced trading options.
- You want access to passive income options available on MetaTrader, including copy trading, script trading, and Expert Advisors (EAs).
- You are looking for a broker that offers a wide variety of trading goods, ranging from indices to forex currency pairings. A diverse range of tradable assets can provide you with multiple options for building a diversified portfolio.
- If regulatory oversight from a well-known regulatory body is a top priority for you. This broker is not regulated by such an authority, and hence, it may not meet your criteria.
- Low minimum deposit is essential for you. With a minimum deposit requirement of USD 500, this broker isn’t one with a lower entry barrier, and hence, this minimum deposit may be considered relatively high for your preferences.
SmartFX Trading Conditions
| 💻 Trading platform: | MetaTrader 5 |
|---|---|
| 📊 Accounts: | Demo Account, Smart Account |
| 💰 Account currency: | USD, EUR, GBP, JPY |
| 💵 Deposit / Withdrawal: | Bank Wire Transfers, Credit/Debit Cards, Skrill, Neteller, Sticpay |
| 🚀 Minimum deposit: | USD 500 |
| ⚖️ Leverage: | Up to 1:400 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.01 |
| 💱 EUR/USD spread: | 0,5-0,9 pips |
| 🔧 Instruments: | 130 currency pairs, futures, CFDs on stocks, indices, commodities, metals, energies |
| 💹 Margin Call / Stop Out: | 100%/50% |
| 🏛 Liquidity provider: | N/A |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Order execution: | Market Execution |
| ⭐ Trading features: | All strategies are allowed: active and passive |
| 🎁 Contests and bonuses: | No |
SmartFX offers its clients more than 2,000 financial instruments that can be traded from standard accounts. The leverage depends on the class of assets. The highest leverage (1:400) is available for currency pairs. The maximum leverage for CFDs is 1:100. You can use debit/credit cards, bank transfers and electronic wallets for deposits and withdrawals.
SmartFX Key Parameters Evaluation
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Trading Account Opening
You need a Personal Account for opening a trading account, passing verification and managing funds. In order to create a personal account on SmartFX, you need to register. Take the following steps:
Click on one of the buttons on the screenshot below if you are on the homepage of SmartFX website. You can use the Open Live Account button, which is available on every page of the website.
Once you start registration, a form will open. You need to choose an Individual account – it is for retail traders. Then, fill out your First Name and Last Name (as specified in your ID), Phone and Country of Residence. Click Send Code. A six-digit code will be sent to your phone. Enter it in the Code box to confirm your phone number. Come up with a reliable password that you will use to log into your Personal Account.
Next, check your email. Find a letter from SmartFX with the email confirmation link. The letter may be in your Spam folder.
Now, you can log into your Persona Account. Just enter your email and password.
The following features are available in your SmartFX Personal Account:
In the Personal Account, the traders can also:
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Pass verification;
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Download the desktop version of MT5;
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Submit a withdrawal request;
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Transfer money between accounts;
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Register a ticket for customer support;
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Set up their personal account and link their personal bank account.
Regulation and safety
SmartFX has a safety score of 9.2/10, which corresponds to a High security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.
- Tier-1 regulated
- Track record over 21 years
- No negative balance protection
SmartFX Regulators and Investor Protection
| Abbreviation | Full Name | Country of regulation | Investor Protection Fund | Regulation Level |
|---|---|---|---|---|
 VFSC |
Vanuatu Financial Services Commission | Vanuatu | No specific fund | Tier-3 |
 CySec |
Cyprus Securities and Exchange Commission | Cyprus | Up to €20,000 | Tier-1 |
SmartFX Security Factors
| Foundation date | 2004 |
| Negative balance protection | No |
| Verification (KYC) | Yes |
Commissions and fees
The trading and non-trading commissions of broker SmartFX have been analyzed and rated as Medium with a fees score of 5/10. Additionally, these commissions were compared with those of the top two competitors, Pepperstone and OANDA, to provide the most comprehensive information.
- No inactivity fee
- No deposit fee
- Above-average Forex trading fees
- No ECN/Raw Spread account
Trading Fees and Spread
Below, we evaluated and compared the trading commissions of SmartFX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.
Standard Account Spread
For Standard accounts, SmartFX’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.
SmartFX Standard spreads
| SmartFX | Pepperstone | OANDA | |
| EUR/USD min, pips | 0,5 | 0,5 | 0,1 |
| EUR/USD max, pips | 0,9 | 1,5 | 0,5 |
| GPB/USD min, pips | 0,6 | 0,4 | 0,1 |
| GPB/USD max, pips | 1,5 | 1,4 | 0,5 |
Does SmartFX support RAW/ECN accounts?
As we discovered, SmartFX does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.
Non-Trading Fees
We conducted a detailed analysis of the non-trading fees associated with SmartFX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.
SmartFX Non-Trading Fees
| SmartFX | Pepperstone | OANDA | |
| Deposit fee, % | 0 | 0 | 0 |
| Withdrawal fee, % | 0,2 | 0 | 0 |
| Withdrawal fee, USD | 0 | 0 | 0-15 |
| Inactivity fee ($, per month) | 0 | 0 | 0 |
Account types
SmartFX offers only one type of real account. However, a client can open up to 3 trading accounts in different currencies.
Account type:
You can open a demo account on MT5. A demo account with a virtual deposit of USD 100,000 does not have an expiry date.
SmartFX is an STP broker offering classic accounts with floating spreads and zero commission per lot.
Deposit and withdrawal
SmartFX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.
SmartFX provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.
- No deposit fee
- Bank card deposits and withdrawals
- Low minimum withdrawal requirement
- Bank wire transfers available
- BTC not available as a base account currency
- Limited deposit and withdrawal flexibility, leading to higher costs
- Wise not supported
What are SmartFX deposit and withdrawal options?
SmartFX provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Card, Bank Wire, Skrill, Neteller.
SmartFX Deposit and Withdrawal Methods vs Competitors
| SmartFX | Plus500 | Pepperstone | |
| Bank Wire | Yes | Yes | Yes |
| Bank card | Yes | Yes | Yes |
| PayPal | No | Yes | Yes |
| Wise | No | No | No |
| BTC | No | No | No |
What are SmartFX base account currencies?
A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs for clients worldwide. SmartFX supports the following base account currencies:
What are SmartFX's minimum deposit and withdrawal amounts?
The minimum deposit on SmartFX is $500, while the minimum withdrawal amount is $100. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact SmartFX’s support team.
Markets and tradable assets
SmartFX offers a wider selection of trading assets than the market average, with over 2000 tradable assets available, including 130 currency pairs.
- Commodity futures are available
- 2000 assets for trading
- Copy trading platform
- Bonds not available
- No ETFs
Supported markets vs top competitors
We have compared the range of assets and markets supported by SmartFX with its competitors, making it easier for you to find the perfect fit.
| SmartFX | Plus500 | Pepperstone | |
| Currency pairs | 130 | 60 | 90 |
| Total tradable assets | 2000 | 2800 | 1200 |
| Stocks | Yes | Yes | Yes |
| Commodity futures | Yes | Yes | Yes |
| Crypto | No | Yes | Yes |
| Stock indices | Yes | Yes | Yes |
| Options | No | Yes | No |
Investment options
We also explored the trading assets and products SmartFX offers for beginner traders and investors who prefer not to engage in active trading.
| SmartFX | Plus500 | Pepperstone | |
| Bonds | No | No | No |
| ETFs | No | Yes | Yes |
| Copy trading | Yes | No | Yes |
| PAMM investing | No | No | Yes |
| Managed accounts | No | No | No |
Customer support
Customer support is available 24/5.
Advantages
- High response speed of live chat operators
- Support is available in English
Disadvantages
- On Saturdays and Sundays, chat operators are not available
- Responses by email come within 24-48 hours
There are several ways to contact customer support:
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Live Chat;
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Phone;
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Email;
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Facebook and WhatsApp instant messengers.
The company has two physical offices: in Dubai (UAE) and Port Vila (Vanuatu). They are open for clients from Monday to Saturday (inclusive) from 10am to 7pm local time.
Contacts
| Foundation date | 2004 |
|---|---|
| Registration address | Smart Securities and Commodities Limited, 1st Floor Govant Building, Kumul Highway, Port Vila, Vanuatu |
| Official site | https://smartfx.com/ |
| Contacts |
+97144319003
|
Education
There is an Education section on the SmartFX website, but there is no educational information in it. It consists of two blocks: Webinars (you can submit an application for participation in the future online seminars), and Blog with articles on trading. A novice trader can find more useful information in the FAQ.
A demo account is an effective learning instrument. You can use it to practice training without investing real money.
Comparison of SmartFX with other Brokers
| SmartFX | Eightcap | XM Group | RoboForex | Exness | Kama Capital | |
| Trading platform |
MetaTrader5 | MT4, MT5, TradingView | MT4, MT5, MobileTrading, XM App | MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader | Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 | MetaTrader5 |
| Min deposit | $500 | $100 | $5 | $10 | $10 | No |
| Leverage |
From 1:1 to 1:400 |
From 1:30 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:2000 |
From 1:1 to 1:2000 |
From 1:1 to 1:400 |
| Trust management | No | No | No | No | No | No |
| Accrual of % on the balance | No | No | No | 10.00% | No | No |
| Spread | From 1.2 point | From 0 points | From 0.8 points | From 0 points | From 0 points | From 0 points |
| Level of margin call / stop out |
100% / 50% | 80% / 50% | 100% / 50% | 60% / 40% | 60% / No | 20% / No |
| Order Execution | Market Execution | Market Execution | Market Execution | Market Execution, Instant Execution | Market Execution, Instant Execution | Market Execution |
| No deposit bonus | No | No | No | No | No | No |
| Cent accounts | No | No | No | Yes | Yes | Yes |
Detailed Review of SmartFX
SmartFX is an STP broker offering a wide choice of assets, competitive spread and a popular trading platform MetaTrader 5. The broker’s clients have access to leverage and margin trading from a single account. Analysts of the brokerage company publish market analysis daily to help traders achieve success in trading currency pairs, futures and CFDs. SmartFX offers various channels of communication with customer support service. The company has profiles on Facebook, Instagram, Twitter, LinkedIn and YouTube.
SmartFX in figures:
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Over 4 years of stable operation.
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Over 2,000 financial instruments.
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Over 130 currency pairs.
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5 payment systems for deposit and withdrawal.
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Verification of documents within 24 hours.
SmartFX is a broker with no restrictions for trading styles
Every Smart FX client has a choice between active strategies and passive investing. Traders can trade Forex pairs, indices, stocks, gas, oil and commodities as CFDs. The broker provides an opportunity to trade futures with a margin for more experienced market players and professional traders. If a trader is interested in passive income on the Forex market, he/she can copy trades, use EAs and special scripts. It is also possible to trade in a semi-automatic mode using Smart FX signals provided in the daily market reviews.
SmartFX trading platforms are desktop and mobile versions of MT5. They support 21 timeframes and 6 types of pending orders. Hedging, netting, algorithmic and automatic trading are allowed. The broker does not offer the web version of MetaTrader.
Useful services by SmartFX:
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Market calendar. It features the trading session hours of different markets: Forex, metals, energies, indices, stocks and futures. Also, weekends and holidays are specified.
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Daily market analysis. It is performed by SmartFX analysts using the strategy based on support and resistance levels. In addition to Support and Resistance values, the daily analysis also specifies Trading Range, Take Profit and Stop Loss values.
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Economic calendar. It shows important events for a Forex trader and is an effective instrument of fundamental analysis.
Advantages:
Simple registration and quick verification of documents provided by a potential client as a part of KYC.
A single account for all trading instruments.
The operation of the company is regulated, the license for working with securities was issued by the VFSC.
Availability of demo accounts that can be opened on the mobile or desktop MT5.
Zero deposit and withdrawal fee.
24-h support on weekdays by phone, live chat, email and popular instant messengers.
All clients of the broker can participate in free webinars held by financial experts in the area of online trading, who are members of the SmartFX team.
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