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Smarty Trade foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://smartytrade.com/en/auth/sign-up, about the company's legal and temporary regulatory information, the company's address Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.

Smarty Trade Forex Broker

Basic Information

Registered Region
Marshall Islands
Operating Period
--
Company Name
Omla LTD
Abbreviation
Smarty Trade
Company employee
--
Company address
Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960
Keywords
2-5 years
Suspicious Regulatory License
Suspicious Scope of Business
High potential risk

Company profile

Aspect Information Registered Country/Area Canada Company Name SmartyTrade Regulation Unregulated Minimum Deposit Not specified Maximum Leverage Up to 1:100 Spreads Variable (Depends on market conditions) Trading Platforms Web, Android, iPhone Tradable Assets Forex, CFD Stocks, Crypto CFDs Account Types Gold, Silver, Bronze Demo Account Available Islamic Account Not specified Customer Support Phone numbers for various regions, contact form Payment Methods Visa, Bitcoin, Ethereum Educational Tools Limited FAQ section in the Education Center Overview SmartyTrade is an online trading platform registered in Canada, operating as an unregulated broker. It offers traders the flexibility to choose from three account types: Gold, Silver, and Bronze, each tailored to different trading needs. With a maximum leverage of up to 1:100, traders can access various tradable assets, including Forex, CFD stocks, and Crypto CFDs. The platform is accessible through web, Android, and iPhone devices, making it versatile for traders on the go. While a demo account is available for practice, educational resources are limited to a basic FAQ section in the Education Center. Customer support is provided through phone numbers for different regions and a contact form. Additionally, SmartyTrade accepts Visa, Bitcoin, and Ethereum as payment methods for deposits and withdrawals. Regulation Smarty Trade, operating as an unregulated broker, has raised concerns in the online trading community due to its lack of regulatory oversight. Unregulated brokers, such as Smarty Trade, may not adhere to the stringent standards and transparency requirements enforced upon their regulated counterparts, potentially putting investors at risk. These concerns revolve around issues of accountability, transparency, and investor protection. Traders and investors should exercise caution when dealing with unregulated brokers, conducting thorough research and considering the risks involved before engaging in any financial transactions. Opting for regulated brokers, which are subject to oversight by recognized financial authorities, can provide a higher level of security and protection for those involved in the trading process. Pros and Cons SmartyTrade presents traders with a mix of advantages and disadvantages. On the positive side, it offers a diverse range of CFDs, three tiered trading accounts, and flexibility in pricing. Leverage of up to 1:100 is also available. The platform is accessible on various devices, and customer support is comprehensive. However, there are notable drawbacks, including the absence of regulatory oversight as an unregulated broker, limited educational resources in the Education Center, and potential concerns regarding investor protection. Traders should carefully consider these factors when choosing to engage with SmartyTrade. Pros Cons - Offers a variety of CFDs, including Forex and Cryptos. - Operates as an unregulated broker, raising concerns. - Three tiered trading accounts cater to different needs. - Limited educational content in the Education Center. - Leverage of up to 1:100 available for traders. - Lack of regulatory oversight may pose risks to investors. - Flexible pricing structure with spreads and commissions. - Multiple deposit and withdrawal options for convenience. - Versatile trading platform accessible on web and mobile. - Comprehensive customer support through phone and form. Market Instruments The company offers a range of CFDs (Contracts for Difference) on its platform, including: Forex (FX): Description: Forex CFDs are contracts that allow traders to speculate on the price movements of currency pairs without actually owning the physical currencies. These pairs consist of two currencies, with one being the base currency and the other the quote currency. Traders can profit from both upward (going long) and downward (going short) price movements in these pairs. Examples: Common forex pairs include EUR/USD (Euro/US Dollar), GBP/JPY (British Pound/Japanese Yen), and USD/JPY (US Dollar/Japanese Yen), among others. CFD Stocks: Description: CFDs on stocks allow traders to speculate on the price movements of individual company shares without owning the underlying stocks. This means traders can potentially profit from both rising and falling stock prices. Examples: You can find CFDs on a wide range of individual stocks from various stock exchanges around the world. Examples may include Apple Inc. (AAPL), Google parent company Alphabet Inc. (GOOGL), or Amazon.com Inc. (AMZN). Crypto CFDs: Description: Crypto CFDs are contracts that enable traders to speculate on the price movements of cryptocurrencies like Bitcoin, Ethereum, Ripple, and many others without owning the actual digital assets. These CFDs offer a way to trade cryptocurrencies within the framework of traditional financial markets. Examples: Common cryptocurrency CFDs include BTC/USD (Bitcoin/US Dollar), ETH/USD (Ethereum/US Dollar), and XRP/USD (Ripple/US Dollar), among others. Account Types The broker offers three tiered trading accounts: Gold, Silver, and Bronze, each tailored to meet the distinct needs of traders. Gold Account: Benefits: 24/7 live chat support, 1-hour withdrawals, +50% bonus, demo account, Copy Trading tool, Master class sessions, first 3 risk-free trades, personal success manager. Silver Account: Benefits: All Gold account features, +100% bonus. Bronze Account: Benefits: All Silver account features, +150% bonus, ideal for experienced traders. Here's a concise table summarizing the key features: Account Type Live Support Withdrawal Time Bonus Demo Account Copy Trading Master Class Risk-Free Trades Personal Success Manager Gold 24/7 1 hour 0.5 Yes Yes Yes First 3 Yes Silver 24/7 1 hour 1 Yes Yes Yes First 3 Yes Bronze 24/7 1 hour 1.5 Yes Yes Yes First 3 Yes These account types offer traders flexibility and varying levels of support to match their trading goals and experience. Leverage This broker offers a maximum trading leverage of up to 1:100, allowing traders to control a position size up to 100 times their initial capital. High leverage can amplify both profits and losses, so it's essential for traders to use it cautiously and employ effective risk management strategies to protect their investments. Understanding the implications of leverage and trading according to one's risk tolerance and experience is crucial when utilizing this level of leverage. Spreads & Commissions The company employs a flexible pricing structure that involves spreads and commissions, which can vary depending on the specific financial instruments and trading accounts used. Spreads: Spreads are commonly applied as trading costs and are dynamic, taking into account factors like market liquidity and competitiveness. The company reserves the right to adjust spreads, particularly during periods of increased volatility or market illiquidity. Commissions: Commissions are charged for specific trading scenarios: For unleveraged Cryptocurrency CFD positions, a commission ranging from 1% to 2.5% may apply. Leveraged Cryptocurrency CFD positions may incur a commission of up to 5% of the transaction. Swap Fee: Clients may also be subject to a swap fee for holding positions overnight, currently set at 0.07% of the position's face value. This fee calculation involves a fixed percentage and the Libor rate. The company maintains the flexibility to modify pricing to adapt to market conditions. Clients can find details about these costs on the company's website under “General Fees,” and the company may provide prior notice of any changes in costs. Importantly, the absence of certain charges at one time does not preclude their application in the future. This pricing structure ensures transparency and allows clients to understand the potential costs associated with their trading activities. Deposit & Withdrawal Visa: Clients can use Visa cards to deposit funds instantly into their accounts. This widely accepted payment method offers a seamless way to fund trading activities. Bitcoin: Cryptocurrency enthusiasts can utilize Bitcoin for both deposits and withdrawals. This decentralized digital currency provides clients with a secure and efficient means of managing their funds. Ethereum: Ethereum, another popular cryptocurrency, is also available for deposits and withdrawals. It offers fast and secure transactions, catering to clients who prefer using Ether. All Regions Covered: Regardless of their location, clients from around the world can take advantage of these deposit and withdrawal options. The company's services are accessible globally, ensuring inclusivity. Instant Funding: Clients benefit from instant funding, allowing them to quickly access their deposited funds. This ensures they can initiate trades or investments promptly. Up to 1 Hour for Withdrawal: Withdrawals are processed efficiently, with funds typically becoming available within 1 hour. This quick turnaround time provides clients with timely access to their withdrawn assets. In summary, the company offers a range of deposit and withdrawal options, including Visa, Bitcoin, and Ethereum, with a focus on speed and accessibility. Clients can choose the method that suits their preferences and geographic location, ensuring a seamless financial experience. Trading Platforms SmartyTrade offers a versatile trading platform for Options and CFD trading, accessible in three versions: web, Android, and iPhone. Key features include: Asset Selection: Traders can choose from a variety of assets via a dropdown menu. Live Charts: Real-time charts are available for all CFDs, aiding in technical analysis. Instant Execution: Traders can swiftly execute trades to seize market opportunities. Trade History: Users can access their entire trade history for review. Mobile Access: Android and iPhone platforms allow trading on the go. User-Friendly: The platform is intuitive, suitable for traders of all levels. Trading Options: It supports regular options and CFD trading. Funds Management: Traders can withdraw funds conveniently. Live Video Chat: Live video chat support is available for immediate assistance. SmartyTrade's platform ensures a seamless trading experience with accessibility, usability, and essential tools for traders. Customer Support SmartyTrade offers comprehensive customer support to assist users with their inquiries, issues, and trading needs. Here's how you can get in touch with their customer support: Phone Numbers: +1 829 947 63 93 (Canada, Montreal) +44 208 068 53 35 (United Kingdom, London) +3 395 03 96 (China, Hong Kong) 081 855 70 55 (Thailand, Bangkok) +7 499 703 37 74 (Russia, Moscow) These phone numbers cater to clients in various regions, ensuring that they have access to direct support when needed. Contact Form: Users can also reach out to SmartyTrade by filling out a contact form, providing essential details like their name, email, phone number, and a message. The support team will respond to inquiries submitted through this form. Educational Resources The Education Center on SmartyTrade's platform, accessible via the link provided, appears to offer a disappointingly limited resource for traders seeking comprehensive information. With only a basic FAQ section, it falls short of providing in-depth educational content that would empower traders to make informed decisions and improve their trading skills. The absence of more extensive educational resources leaves users with unanswered questions and a lack of essential guidance, ultimately diminishing the overall value of the platform's support for its clients. Summary SmartyTrade, an unregulated broker, raises concerns due to its lack of regulatory oversight, potentially exposing investors to risks related to accountability, transparency, and investor protection. It offers a range of CFDs on its platform, including Forex, CFD stocks, and Crypto CFDs, allowing traders to speculate on various financial instruments. The broker provides three tiered trading accounts - Gold, Silver, and Bronze - catering to different trading needs. Leverage of up to 1:100 is available for traders but should be used cautiously. The company's pricing structure includes spreads and commissions, with flexibility based on the financial instruments and accounts used. Deposit and withdrawal options include Visa, Bitcoin, and Ethereum, with a focus on speed and accessibility. The versatile trading platform is available on the web, Android, and iPhone devices. While customer support is comprehensive with phone numbers for various regions, the education center's limited content may leave traders seeking more in-depth knowledge disappointed. FAQs Q1: Is SmartyTrade a regulated broker? A1: No, SmartyTrade operates as an unregulated broker, which means it lacks oversight from recognized financial authorities. Traders should exercise caution when dealing with unregulated brokers. Q2: What assets can I trade on SmartyTrade's platform? A2: SmartyTrade offers a range of CFDs, including Forex (currency pairs), CFD stocks (individual company shares), and Crypto CFDs (cryptocurrencies like Bitcoin and Ethereum). Q3: What are the advantages of the Gold trading account? A3: The Gold account offers benefits such as 24/7 live chat support, 1-hour withdrawals, a +50% bonus, a demo account, Copy Trading tools, Master class sessions, the first 3 risk-free trades, and a personal success manager. Q4: Does SmartyTrade offer educational resources? A4: SmartyTrade provides an Education Center, but it currently offers a limited FAQ section. While it may help with basic queries, it may not provide in-depth educational content. Q5: How can I contact SmartyTrade's customer support? A5: You can reach SmartyTrade's customer support through phone numbers provided for various regions, including Canada, the UK, China, Thailand, and Russia. Additionally, you can use a contact form on their platform for inquiries.

Rating Index

How to login to Smarty Trade?
SMARTY TRADE Complete Account Guide: Registration, Account Opening, and Login Processes Part One: Account Registration Process How to Register a SMARTY TRADE Account Registering for a SMARTY TRADE account is a straightforward process that can be completed in just a few minutes. Follow these detailed

  

Smarty Trade Forex Broker - Complete Information Guide

  

1. Broker Overview

  Smarty Trade, established in 2020, operates as an online trading platform registered in the Marshall Islands. The company is privately held and aims to cater to a diverse clientele, including retail traders and institutional investors. Over the years, Smarty Trade has worked to build its reputation in the online trading community by providing access to a wide range of financial instruments, including forex, stocks, cryptocurrencies, indices, and commodities.

  The broker's development has been marked by several milestones, including the launch of its proprietary trading platform and the introduction of unique features such as copy trading and rapid withdrawal processes. As a part of its growth strategy, Smarty Trade has focused on enhancing user experience through advanced trading tools and a commitment to customer support.

  Smarty Trade operates under the parent company OM LA Ltd, which oversees its operations and compliance with local regulations. The business model primarily revolves around retail forex trading, offering various accounts tailored to meet the needs of different traders. Through its diverse product offerings and user-friendly interface, Smarty Trade aims to attract a global audience.

  

2. Regulatory and Compliance Information

  Smarty Trade operates as an unregulated broker, which raises significant concerns regarding its legitimacy and the security of client funds. The company is not overseen by any major regulatory authority, such as the Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC). This lack of oversight means that traders may face challenges in retrieving their funds in case of disputes.

  Due to its offshore registration, specific regulatory numbers and licenses are not available. The absence of a regulatory framework can pose risks related to accountability and transparency. Moreover, Smarty Trade does not participate in any investor compensation schemes, which further heightens the risk for investors.

  In terms of compliance, Smarty Trade claims to implement Know Your Customer (KYC) and Anti-Money Laundering (AML) measures; however, the specifics of these policies are not publicly detailed. This lack of transparency can be a red flag for potential clients.

  

3. Trading Products and Services

  Smarty Trade offers a diverse array of trading products, making it an attractive option for traders looking to explore various markets. The broker provides access to over 20 forex currency pairs, including major pairs like EUR/USD and GBP/USD. Additionally, it offers Contracts for Difference (CFDs) on indices, commodities, stocks, and cryptocurrencies.

  The brokers offerings include:

  • Forex Trading: A wide range of currency pairs, with spreads starting at 0 pips.
  • CFD Products: Traders can speculate on price movements in indices, commodities, and cryptocurrencies without owning the underlying assets.
  • Binary Options: Smarty Trade allows traders to engage in binary options trading, offering payouts of up to 95%.

  The platform frequently updates its product lineup, ensuring that traders have access to the latest market trends and trading opportunities. The retail trading services are complemented by a copy trading feature, enabling inexperienced traders to replicate the strategies of successful traders.

  

4. Trading Platforms and Technology

  Smarty Trade utilizes a proprietary web-based trading platform, designed to deliver a seamless trading experience. Unfortunately, the platform does not support MetaTrader 4 or 5, which are popular among traders for their advanced features. Instead, Smarty Trade focuses on providing its own tools, including customizable charts, technical indicators, and drawing tools.

  The platform is accessible on both desktop and mobile devices, with dedicated applications for iOS and Android. Key features of the trading platform include:

  • Instant Execution: Designed for quick order placement, allowing traders to capitalize on market opportunities.
  • Live Charts: Real-time updates on price movements to aid in technical analysis.
  • API Access: While specific details on API integration are limited, the broker does support automated trading.

  The technical infrastructure is built to ensure reliability and speed, with servers located strategically to minimize latency. This enhances the overall trading experience, allowing users to execute trades efficiently.

  

5. Account Types and Trading Conditions

  Smarty Trade offers several account types to cater to different trading preferences and experience levels. The account types include:

  •   Gold Account:

  •   Minimum Deposit: $500

  •   Benefits: 24/7 live chat support, 1-hour withdrawals, and a 50% bonus on deposits.

  •   Silver Account:

  •   Minimum Deposit: $1,000

  •   Benefits: All Gold Account features plus a 100% bonus.

  •   Bronze Account:

  •   Minimum Deposit: $2,500

  •   Benefits: All Silver Account features plus a 150% bonus, ideal for experienced traders.

  The leverage offered by Smarty Trade can go up to 1:500, which allows traders to amplify their positions significantly. However, such high leverage also poses increased risk, particularly for inexperienced traders. The minimum trade size and overnight fees are not explicitly stated, which can lead to uncertainty for potential clients.

  

6. Fund Management

  Smarty Trade supports a variety of deposit methods, including:

  • Bank Transfers
  • Credit/Debit Cards (Visa, Mastercard)
  • Cryptocurrencies (Bitcoin, Ethereum, etc.)

  The minimum deposit requirement varies by account type, starting from $500 for the Gold Account. Deposits are processed quickly, typically within a few hours, allowing traders to access their funds almost immediately.

  Withdrawal methods include the same options as deposits, with a processing time of up to 1 hour for most requests. However, the broker may impose fees on certain withdrawal methods, particularly for international wire transfers.

  

7. Customer Support and Educational Resources

  Smarty Trade offers a range of customer support channels, including:

  • Phone Support: Available in multiple regions.
  • Email Support: Reachable via support@smartytrade.com.
  • Live Chat: Available 24/7 for immediate assistance.

  The broker provides multilingual support, catering to a diverse clientele. However, the educational resources available on the platform are limited, primarily consisting of basic FAQs. There are no substantial offerings such as webinars or detailed tutorials, which could benefit novice traders.

  Market analysis services, including daily updates and research reports, are not prominently featured, leaving traders to rely on external sources for in-depth market insights.

  

8. Regional Coverage and Restrictions

  Smarty Trade primarily serves clients from various regions, including Europe, Asia, and North America. However, it is crucial to note that the broker may impose restrictions on specific countries due to regulatory compliance issues.

  The broker does not accept clients from certain jurisdictions, including those where local regulations prohibit unregulated trading activities. Specific details regarding restricted countries are not publicly disclosed, which can pose challenges for potential clients seeking to understand their eligibility.

  In conclusion, while Smarty Trade offers a range of trading products and services, potential clients should approach with caution due to the broker's unregulated status and lack of transparency in certain areas. Conducting thorough research and considering the associated risks is essential before engaging with the smarty trade broker.

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Latest Reviews

JesusLee

JesusLee

United States

I’ve tried other trading platforms before, but I always got lost in the tools and dashboards. With SmartyTrade, everything is streamlined. I don’t feel overwhelmed. Even as a beginner, I feel in control of my trades.

Positive

06-18

StevenCarpenter

StevenCarpenter

United States

The educational resources on SmartyTrade helped me learn a lot in a short time. I joined a few webinars and read through their trading guides. Even as a beginner, I now understand basic strategies and risk management.

Positive

06-15

NathanThomas

NathanThomas

Argentina

I still use the platform here and there, but mostly for simpler trades.

Positive

06-03

Smarty Trade

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In this article, we are going to discuss the broker named Smarty Trade. If you are planning to invest in this broker, it is wise to read this article before taking action.

Smarty Trade Forex Broker has an overall rating of 1.35, Regulatory Index 0.00, License Index 0.00, Business Index 5.79, Software Index 4.00 Risk Control Index 0.00.
Smarty Trade