Smarttradefx
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Thread: Smarttradefx

  1. #1
    Does somebody have experience with ?

  2. #2
    Quote Originally Posted by ;
    Does anyone have experience with Smarttradefx?
    Apart from the demo and an e-mail asking some important questions, I don't have any live experience, and I am not going planning to.

    Their MT4 platform is lightning fast and one of the finest I've seen. Problem is, your funds are certainly not insured, though they're Canadian, and solvency and their history is about to me. Read their agreement; it basically says you're a meaningless creditor who gets in line behind other dues, if they go belly up, and you're likely to find nothing. Also states about not sending your orders into the market, although they say they have no table. I'd asked about bank deposit holding of your trading funds, and also the question was evaded, meaning, you deposit into their account.

    Their liquidity looks OK, but that's only based on some rudimentary tests and mostly comparing BetterVolume data/quantities which are echoed back - it seems pretty good quantity, which would indie an OK liquidity supplier. However, when asked about that via e-mail, they stated they do not offer this information. That's a red flag - the majority (at least the brand names) of MT4 brokers will offer that. Why hide it?

    While it's likely to put in a smallish amount to test them, that does not change the solvency/creditor issue in a worst case scenario should you place in state 5-figure trading funds.

    P.S. - There's a thread around here on these - you may want to use search.

  3. #3
    Thanks. The only info that I've discovered beyond what you've provided is that Smartradefx is headquartered in Hong Kong (one office is currently in Canada) and is registered in Cyprus, even though the company wasn't listed on the government site once I checked. Someone said that the provider is registered in Cyprus but less Smarttradefx. Evidently a Smarttradefx rep would not release that advice. I've heard great things about the platform, ECN/STP, etc..
    Swamper

  4. #4
    Anyone have Smarttradefx expertise and/or info?

  5. #5
    Hi All,

    I also just recently begun looking at SmartTradeFX. I had the very same concerns that Beljevina mentioned, and also have sent them an email asking about security of customers' funds. Up to now no response now.

    I actually enjoy the ACT Forex SmartTrader platform they use, so also have sent an email to ACT Forex to determine if they have any other brokers using that platform.

    SmartTradeFX's demo appears fantastic, but without the assurance of customer fund protections, I am too leary to open a live account with them.

    Would love to hear from anyone who has actual live experience with them.

    Thanks, Talia

  6. #6
    They did inform me they are enrolled in Hong Kong and are currently unregulated, and The capital are held together with our bank in Switzerland, BKB Private Bank.

  7. #7
    Ipndasno says on

    https://www.forexsoutheast.asia/cryp...-0-0000-a.html MT4 favorite Brokers - as low as 1 Pip spreads

    ribbon that's been trading live for a month, and that was published Nov 25, 2010.

    Hopefully Ipndasno will see this thread and upgrade with latest adventure.

  8. #8
    Thanks nmmagick for the info. So far as the Hong Kong regiion, by checking the HG FSA registry, I tried to find evidence of this, but I was unable loe a broker recorded under the Smarttradefx name.
    Swamper

  9. #9

  10. #10
    A company speech isn't even published by them or say where they are based. They don't publish if they are controlled or not.

    What does this tell you? Is that a company where serious traders/investors would exchange, or is it some internet bucketshop holding some accounts of wannabe traders?

    I mean seriously, would you as a significant trader send your cash into some internet company whose country/jurisdiction you don't understand, and who's probably unregulated? Do you understand that they choose to shut down and take your and everyone's money with them, there's absolutely nothing you can do about it?

    You don't need to do some research or start threads asking about these br?kers. It is quite easy to tell whether they are serious or not. All you need is some commonsense.

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