SmartFX Review and Detailled Analysis 2021

SmartFX Review and Detailled Analysis 2021

Home » SmartFX Review and Detailled Analysis 2021

SmartFX is a regulated trading broker that offers traders the popular MetaTrader 5 platform for trading a variety of markets online with competitive trading conditions. The broker has leverage of up to 1:400 available, with one trading account and multiple funding options without fees.

In this detailed SmartFX review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

SmartFX Overview

SmartFX is an online forex, stocks, indices, futures, commodity and CFD broker that provides online trading services and products to clients around the globe. The broker is licenses and regulated, offering the powerful yet user-friendly MetaTrader 5 platforms for multiple devices. Clients also get access to daily market analysis, instant account funding and 24/5 support.

SmartFX Regulation

SmartFX is owned and operated by Smart Securities and Commodities Limited. The broker is regulated by the Vanuatu Financial Services Commissions (VFSC) and authorized to deal with securities with providing all kind of financial services to their clients.

The broker has a representative office in Dubai with its head office in Vanauatu.

SmartFX Countries

SmartFX welcome traders from all over the globe although some SmartFX broker features and products mentioned within this SmartFX review may not be available to traders from specific countries due to legal restrictions.

SmartFX Platforms

The broker supplies traders with the well known and sophisticated MetaTrader 5 (MT5) trading platform for web, desktop and mobile devices running on iOS and Android. The mobile trading apps can be useful for those who need to access their accounts to trade whilst on the go whereas the web-based platforms can run in most modern web browsers without needing to download or install any additional software.

MT5 is the choice of many CFD and forex traders around the world. This is primarily due to its intuitive interface that makes it easy to use whilst it also has an abundance of built-in tools and functionalities. There is a vast array of trading tools to conduct in-depth market analysis across many trading instruments. This makes it a popular platform for both beginners and experience traders alike.

Some of the key MT5 features include:

  • 21 timeframes with unlimited number of charts and one-minute history of quotes.
  • 6 types of pending orders
  • Hedging and netting allowed
  • Real time price quote with depth of market (DOM) pricing
  • 80+ technical indicators and drawing tools for market analysis
  • Fundamental analysis based on financial news and economic calendar
  • Expert advisors (EA’s) for automated trading
  • Multi-currency supported strategy tester to back test EA’s
  • MQL editor to create customised indicators, scripts and EA’s
  • Large online community to share tools and ideas with
  • A system of alerts to keep track of important market events
  • Built-in Forex VPS
  • Free for desktop, web and mobile

SmartFX Trading Tools

The provided MT5 platform should be packed with enough trading tools to support even the most demanding of traders. It can also be expanded with thousands of additional tools available through the MQL marketplace and various online sources.

We believe it would be beneficial if they could provide a few standalone trading tools such as an economic calendar and trading calculators.

SmartFX Education

SmartFX has a daily market analysis section where they cover potential opportunities across various markets. This includes an analysis of recent price movements and possible future price targets. They are presented in a clear and visually appealing manner. You should of course conduct your own technical, fundamental and price action analysis before trading.

The brokers review team would like to see the broker add an education academy in the near future with materials to help traders improve their knowledge such as trading guides, webinars, tutorial videos, etc.

SmartFX Instruments

SmartFX have a generous selection of around 73+ trading instruments across multiple asset classes including forex, stocks, indices, futures, commodities and contract for differences (CFDs). In finance, a contract for difference is a contract between two parties, typically described as “buyer” and “seller”, stipulating that the buyer will pay to the seller the difference between the current value of an asset and its value at contract time. This enables traders to speculate on the underlying price of an asset without actually needing to own it outright.

SmartFX Accounts & Fees

SmartFX aim to keep things as simple as possible by offering one optimized trading account to their clientele. This is aptly named the “smart” account and has leverage of up to 1:400 available, over 73 trading instruments, competitive spreads and lot sizes from 0.01. The minimum deposit required to open a trading account is $500.

Demo accounts are also available which can be a good way to practice trading online with virtual funds and to familiarise yourself with the brokers platform and services.

SmartFX’s Demo Account don’t have an expiry. You can practice your skills for the period you need to get familiar with a terminal and trading until you are ready to trade on Live Account.

As broker fees can vary and change, there may be additional fees that are not listed in this SmartFX review. It is imperative to ensure that you check and understand all of the latest information before you open a SmartFX broker account for online trading.

SmartFX Support

SmartFX offer customer support via email, telephone and live chat. The friendly and polite team are on hand 24.5 to assist with all your trading questions.

SmartFX Deposit & Withdrawal

SmartFX have a variety of convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit/debit card and online payment systems such as Neteller, Skrill and STICPAY. Please note that some methods may only be available to specific countries and not all are available for both deposit and withdrawal. The minimum withdrawal is 100 USD for Electronic Payment Methods, Credit/Debit cards and Bank Wires as well.

SmartFX don’t charge any commissions or fees on your deposits and withdrawals although some third-party fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.

Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries. SmartFX strictly does not accept third-party payments. All funds deposited into your trading account must be under the same name as your SmartFX trading account.

SmartFX Account Opening

SmartFX have a quick and easy process to open an online trading account with them. You will need to provide some personal information and verification documents which is a normal part of a brokers KYC and AML procedures. The account opening process goes as follows:

  • Fill in the brokers registration form.
  • Attach your documents for them to review instantly.
  • Deposit and start trading once you feel ready to do so.

From the moment they receive documents from you it will take maximum 24 business hours for their approval. Usually your documents will be reviewed at the same day you uploaded to Client Portal.

It is imperative to ensure that when you are going through a broker application, you clearly read all of the brokers terms, conditions and policies. Only proceed if you fully understand and agree to them.

SmartFX Summary

Overall, SmartFX has a competitive online brokerage service offering trading via the MetaTrader 5 platform along with high liquidity, low spreads, mobile trading, technical analysis and more. There is a diverse range of trading products including forex currency pairs, commodities, futures, indices and stocks. The broker supports instant account opening and account funding without any fees. You also get 24/5 support with your own relationship manager.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Past performance is not an indication of the future performance. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the SmartFX brand based on the legal requirements in his/her country of residence.

SmartFX Review and Detailled Analysis 2021 Details

Trading Software
Min Deposit
Restricted Countries
Head Country
Broker Type
Price & Leverage
Trading Options & Tools
Comisions & Payment options
Customer Support
5.0 Overall Rating
SmartFX Review and Detailled Analysis 2021
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