FSMSmart Review

Overall, FSMSmart can be summarised as a credible and trustworthy broker and is considered low-risk with fixed and floating spreads. FSMSmart has an overall trust score of 50 out of 99. FSMSmart offers more than 600 trading instruments.

FSMSmart At a Glance

Overall Rating

• 2.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 10

Regulators

Not Regulated

Trading Platform

MT4

Crypto

No

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

Choose your quick section of our FSMSmart below.

FSMSmart review – 19 key point quick overview:

1. FSMSmart At a Glance
2. FSMSmart Overview
3. FSMSmart Safety and Security
4. FSMSmart Sign-Up Bonus
5. FSMSmart Minimum Deposit
6. FSMSmart Demo Account
7. FSMSmart Leverage
8. FSMSmart Accounts
9. FSMSmart Market instruments
10. FSMSmart Fees, Spreads & Commissions
11. FSMSmart Deposit and withdrawal
12. FSMSmart Trading platforms
13. FSMSmart Current Popularity Trend
14. FSMSmart vs Exness vs XM – a Comparison
15. FSMSmart Customer Reviews
16. FSMSmart Pros and cons
17. FSMSmart Conclusion
18. FSMSmart Disclaimer
19. Frequently Asked Questions

FSMSmart Overview

According to research in South Africa, FSMSmart is a Swiss company founded in 2017 with headquarters in Lucerne.

FSMSmart is a fairly new online forex broker operated by FSM Smart Limited. The broker offers trading via the MetaTrader4 platform in over 600+ assets that includes Forex currencies, commodities, precious metals, shares, and indices.

FSMSmart Safety and Security

FSMSmart is managed by FSM Smart Limited which is a registered company in Switzerland. The broker is not regulated by any financial authority.

Switzerland is part of the EU and online Forex trading is reflected in the country’s legislation. The Swiss Financial Market Supervisory Authority FINMA is in charge of overseeing all financial activities.

There is no indication on FSMSmart’s website that it is licensed by the FINMA, which means the broker is unregulated. It does not accept clients from North Korea, Iran, and the United States.

FSMSmart Sign-Up Bonus

FSMSmart does not offer new traders a sign-up bonus or also known as a welcome bonus when signing up.

FSMSmart Minimum Deposit

The minimum deposit amount required to register an FSMSmart trading account is $250. This minimum deposit is equivalent to R4000 ZAR at the current exchange rate between the  South African Rand & United States Dollar.

FSMSmart Demo Account

FSMSmart does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. The FSMSmart demo account does not have a specific expiry date.

FSMSmart Leverage

Leverage enables a trader to get a much larger exposure to the market the person is trading than the amount deposited to open the trade. Leveraged products, such as forex trading, magnify a trader’s potential profit – but also increase the potential loss.

Leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1 000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate 500:1.

Margin is the collateral to cover any credit risks that may arise during trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you need to have enough funds in your trading account to ensure sufficient margin.

For example, on a 1% margin a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal or more than 100% to be able to open new trades, otherwise your trading account will be fully hedged.

At FSMSmart the leverage ratio is 1:400.

Overall Rating

• 2.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 10

Regulators

Not Regulated

Trading Platform

MT4

Crypto

No

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

FSMSmart Accounts

FSMSmart offers a choice between five types of accounts, namely Beginner, Silver, Gold, Gold+, and Platinum accounts.

On all the accounts the minimum lot size is 0.01 on a maximum leverage of 1:400. All the accounts have mobile trading, daily analysis, and an account manager with 24-hour support. On the Platinum account bank wire transfers are free of any charges.

The broker does not offer the option to open a demo account, but clients can open an Islamic Swap-free account on any of the account types. This follows the Sharia law which means the accounts are not charged for overnight positions of swaps or rollover fees.

How to open an FSMSmart account

1.  Step 1 – Register an account

Navigate to the FSMsmart home page and select the option “get started”

2.  Step 2 – Complete information

Complete all the information requested and select “Register”

3.  Step 3 – Account verification

Once the account is registered, clients will receive a confirmation email on the registered email address. Once the account is verified, clients can log in and start trading.

FSMSmart Market instruments

The most popular market instruments available from most brokers for trading include:

Forex:

Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies and financial institutions exchange currencies for one another at floating rates.

Commodities:

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and plays a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

Indices:

Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

Precious metals:

The trading of gold and other precious metals, along with crude oil, copper or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

Energy:

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions and global economic growth.

FSMSmart offers over 600+ assets to trade in with include:

• Forex currencies
• Commodities
• Precious metals
• Shares
• Indices

FSMSmart Fees, Spreads & Commissions

Cost and fees depend on different factors, like spread and margins, and FSMSmart clients may also experience different fee structures according to their country or place of residence.

The spread of a currency pair is the difference between the bid and the ask rate. A pip represents the smallest increment that an exchange rate can move.

Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account.

FSMSmart offers floating and fixed spreads on its account types. On the different account types, it features as follows:

• Beginner Account

Floating spread starting from 3 pips

• Silver Account

Floating spread starting from 2 pips

• Gold Account

Fixed spread starting from 2 pips

• Gold+ Account

Fixed spread starting from 2 pips

• Platinum Account

Fixed spread starting from 1.5 pips

It is not clear on the website if FSMSmart charges a commission or if there are any other charges to accounts.

FSMSmart Deposit and withdrawal

Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done with the same ways, but sometimes differ.

In the case of FSMSmart, the following minimum deposits are required:

• Beginner Account – $250
• Silver Account – $5 000
• Gold Account – $20 000
• Gold+ Account – $50 000
• Platinum Account – $100 000

The following methods can be used to fund accounts and to execute withdrawals:

• Credit cards
• Debit Cards
• Bank Wire Transfer
• Credit Voucher
• Skrill
• Neteller
• Vload
• Bitcoin Cash
• Bitcoin
• Ethereum
• Litecoin
• MPWP

No deposit or withdrawal fees are charged by the broker, but clients should take note that depending on the bank you use, fees might apply.

If funds are withdrawn through a credit or debit card is will take between 3 and 5 days to reflect in the client’s account. Withdrawals through WebMoney and eWallets will take between 1 and 2 business day and bank wire transfers will take between 4 and 7 working days.

FSMSmart Trading platforms

The forex trading platform provided by FSMSmart to its clients is the software to carry out their trades. Some brokers provide only one, others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.

FSMSmart provides only the popular MetaTrader4 as a trading platform. The platform is offered in English, Russian, Italian, Spanish, Portuguese, French, and German.

It is available for web, desktop, smartphones, iPads, and tablets. The platform is user-friendly, intuitive, and customizable, all with charting tools and news, analysis reports, and financial calendars.

The Web Trader version allows traders to gain access to the global market in an instant. Traders receive real-time streaming of the prices, as well as live charting, and analysis tools, gain access to copy trading and more. Expert advisors are also developed to assist you with your trading.

The smartphone app is easy to use and can execute orders automatically. You will gain access to the same tools as on the web. The same options are available for tablets or iPads.

FSMSmart Current Popularity Trend

According to Google Trends, here is an overview of how frequently the search term – “FSMSmart” is entered into Google’s search engine over a given period of time.

FSMSmart vs Exness vs XM – a Comparison

FSMSmart Customer Reviews

fsmsmart.com AND fsmsmarts.com both same company scamming people.

Hi Guys beaware of the fraudulent trading company fsmsmart AND fsmsmarts . I lost USD $34,500. They speak very nicely and cheat systematically. I am going to post in the web sites about the company how I was cheated by the fraud FSMSmart and FSMsmarts. Please spread this message across the globe. This is just begining I will continue posting. They have fabricated trend they call it as MT4. They will show you some profit at the beginning and tempt you first then ask you to invest more money and loot your money at last. please spread this message as much as possible

FSMsmarts

Fsmsmarts refused all previous contracts that their agent who worked for the company had taken with me. I could never withdraw money from my account easily it was the sole effort of the strong team at privycript that liberated me funds out of the grip of Fsmsmarts and my phone calls were often ignored by Fsmsmarts. They use a few numbers that can be useless – instead, they sometimes called twenty times a day because of their interest. Now, because I asked to close my account, he has threatened to alert me to the police and i promised to sue right back.

Bad experience

Had a call from FSMSMART, this very rude financial officer started offending me over the phone for no reason on the basis of my origins and denied all the previous agreements other people working for the company had taken with me. I was never able to withdraw money from my account easily and often my calls were ignored. They use several switch numbers which can be useless – instead at times, they called even twenty times in a day for their interest. Now, because I asked to close my account, he has threatened that I will be receiving a police warning and some other problem. Finally, I have still some money left by successful trades on the account, which will be obviously lost. FSMSMART is just the wrong company to be avoided, they are compared to stealers!!

FSMSmart Pros and cons

FSMSmart Conclusion

FSMSmart offers the world-renowned MetaTrader4 as the only trading platform for multiple account types. The initial deposit is fairly high and there is conflicting information on the website in regard to this.

The broker is not regulated which means client funds could be a risk when trading through FSMSmart. It is not clear if funds are kept in separate accounts.

There is some research and educational tools on offer as well as multiple trading assets.

Overall Rating

• 2.1/5

Read Review

OPEN AN ACCOUNT

Min Deposit

USD 10

Regulators

Not Regulated

Trading Platform

MT4

Crypto

No

Total Pairs

0

Islamic Account

No

Trading Fees

Low

Account Activation

24 Hours

FSMSmart Disclaimer

FSMSmart promises to make all efforts to fill a trade at the requested price, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

Derivative Trading is a complex financial product traded on margin. Trading Derivatives carries a high level of risk since leverage can work both to your advantage and disadvantage.

Before deciding to trade, you need to ensure that you understand the risks involved considering your investment objectives and level of experience. Past performance of Derivative Trading is not a reliable indicator of future results.

Most Derivative Trades have no set maturity date. Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor, according to research in South Africa.

Frequently Asked Questions

Is FSMsmart a fake or scam broker?

FSMsmart is not a licensed broker and financial regulators in various countries have warned investors against this broker.

What is the overall rating out of 10 for FSMSmart?

The overall rating for FSMsmart is 4/10

Which platforms are supported by FSMSmart?

FSMSmart supports the MetaTrader4 platform.

What spreads can I expect with FSMSmart?

With the Beginner account floating spreads start at 3 pips, and the Silver account starts at 2 pips. With the Gold and Gold+ accounts fixed spreads start at 2 pips and with the Platinum account it is 1.5 pips.

What are the deposit methods for FSMSmart?

Deposit methods include Wire transfer, Debit/Credit cards, Vload, Credit voucher, Bitcoin, Bitcoin Cash, Litecoin, Ethereum and MPWP.