SmartSTP Forex Broker

SmartSTP Review SummaryFoundedWithin 1 yearRegistered Country/RegionMauritiusRegulationUnregulatedMarket InstrumentsCommodity, forex, indices, stocks, metals and cryptosDemo AccountUnavailableLeverageUp to 1:200Spread25% or 50%Trading PlatformSmartSTP WebTraderMin Deposit$250Customer SupportEmail: support@smartstp.comSmartSTP Information SmartSTP is an unregulated brokerage firm that was incorporated in Mauritius in 2018 and currently operates in 15 countries. The broker offers its clients a comprehensive range of trading products: commodities, Forex, indices, stocks, metals and cryptocurrencies. It requires a minimum deposit of $250 and has 3 tiered accounts, each with an Islamic account. The platform used by the company is called “SmartSTP WebTrader” and has basic features that can be accessed via the web.Pros and ConsProsConsTiered accountsLack of Regulatory OversightIslamic account availableHigh minimum deposit requirementFund segregationNo MT4/5 trading platformsIs SmartSTP Legit? SmartSTPis currently in a state of no effective supervision, which means that its activities are not supervised by the government or financial institutions.What Can I Trade on SmartSTP? SmartSTP offers traders the opportunity to trade commodity CFDs, forex, indices, stocks, metals and cryptoscurrencies.Tradable InstrumentsSupportedCommodity CFDs✔Forex✔Indices✔Stocks✔Metals✔Cryptoscurrencies✔Binary Options❌Mutual Funds❌Futures❌Account Types SmartSTP offers three live account types, namely Silver account, Gold account and Platinum account. The silver account leverage is as high as 1:2000, while there is no discount on spreads and swaps. Gold accounts are all leveraged at 1:200, but there is a 25% discount on spreads and swaps. Platinum accounts offer a 50% discount on spreads and swaps. The minimum deposit is $250, which is above the industry average. Demo account is not provided. In addition, each account has an Islamic account with no interest charges for overnight rollovers.Account TypeTarget GroupMin Deal SizeLeverageStop-Out LevelSpread DiscountSwap DiscountSilverEntry point to the markets0.01Up to 1:2005%No DiscountNo DiscountGoldFor advancing traders25% of Silver Spread25% of Silver SwapPlatinumIntensive trading for experienced50% of Silver Spread50% of Silver SwapLeverage SmartSTP allows clients to leverage up to 200:1 for all types of accounts.Trading Platform SmartSTP Webtrader is chosen by SmartSTP to serve clients of different preferences.Trading PlatformSupportedAvailable DevicesSuitable forSmartSTP Webtrader✔Browsers on PC and mobile devicesInvestors of all experience levelsDeposit and Withdrawal SmartSTP accepts multiple financing methods: credit and debit cards, SEPA (Single Euro Payment Area) and SWIFT wire transfers. The minimum deposit is $250. Other than wire transfers, there is no minimum withdrawal amount required by the broker. For wire transfers, the minimum withdrawal requirement is $50.