Overall, SmartFX provides 1 retail account namely a Smart Account. SmartFX offers trading accounts in USD, EUR, GBP, JPY, and RUB. The maximum leverage provided is 1:400. With SmartFX there are no deposit or withdrawal fees.
SmartFX at a glance
| 🔍 Broker's Name | SmartFX |
| 📍 Headquartered | Port Vila, Vanuatu |
| 📅 Year Founded | 2018 |
| ⚖️ Regulating Authorities | VFSC |
| 🌐 Countries not accepted for trade | US |
| ☪️ Islamic account (swap-free) | Yes |
| 👍 Demo Account | Yes |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | No |
| 📈 Maximum Leverage | 1:400 |
| 💰 Minimum Deposit | R8500 ZAR / $500 |
| ➕ Deposit Options | Visa, MasterCard, American Express, Skrill, Neteller, STICPAY, Bank Wire Transfers through the National Bank of Vanuatu and Local bank in Dubai. |
| ➖ Withdrawal Options | Visa, MasterCard, American Express, Skrill, Neteller, STICPAY, Bank Wire Transfers through the National Bank of Vanuatu and Local bank in Dubai. |
| 💻 Platform Types | MT5 |
| 📱 OS Compatibility | Web browsers, Windows, Android, iOS |
| 📈 Tradable assets offered | Forex, CFD indices, CFD equities, Futures, Commodities, and Stocks |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | English, Japanese and Chinese |
| ☎️ Customer Service Hours | 24/5 |
Overall Rating
4.6/5
Rated #534 of
Recommended FX Brokers
Minimum Deposit 
Regulators 📈 Total Pairs
Islamic Account 
Trading Fees
SmartFX Account Types Review – 6 Key Point Quick Overview
- ☑️ SmartFX at a glance
- ☑️ SmartFX account types Pros and Cons
- ☑️ SmartFX Overview
- ☑️ SmartFX Account Types
- ☑️ SmartFX Account Features
- ☑️ Frequently asked questions
SmartFX account types Pros and Cons
| ✔️ Pros | ❌ Cons |
| Offers competitive trading conditions | Only one live account type offered |
| Regulated through Vanuatu Financial Services Commission | Clients from the United States are not accepted |
| MetaTrader5 offered | Not transparent where fees and spreads are concerned |
| Offers a demo account | Spreads are not fixed |
| Swap-free trading offered | Limited offering of educational tools |
| No commission charges | Limited offering of research tools |
SmartFX Overview
SmartFX is an online regulated Forex and CFD broker that is based in Port Vila, Vanuatu, and has been in operation since 2018. It also has offices in Dubai, UAE.
SmartFX is owned and operated by Smart Securities and Commodities Limited and is regulated by Vanuatu Financial Services Commission (VFSC) with registration number 40491.
The broker upholds strict standards to make trading environments safe and provide each client with the finest, individually tailored trading circumstances. With the help of its Daily Market Analysis, the broker provides its clients with the most up-to-date market insights each day, assisting Forex traders in acquiring the knowledge and skills necessary to trade effectively and responsibly.
SmartFX offers various trading options that include currency pairs, commodities, CFD indices, CFD equities, futures, and stocks. SmartFX offers a simple trading solution with one Smart Account and MetaTrader5 as the only trading platform.
Traders from the United States are not accepted but it allows traders from various other countries, such as the United Kingdom, Canada, Australia, Thailand, South Africa, India, Singapore, Hong Kong, France, Norway, Germany, Italy, Sweden, Denmark, United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Luxembourg, and most other countries.
SmartFX Account Types
With SmartFX the process has been streamlined by providing only one live trading account, the MT5 Smart Account, which will meet all of your demands and needs. Through this single live account, traders will discover that SmartFX provides comprehensive solutions and services in addition to competitive trading conditions.
SmartFX Account Features
| 🔎 Features | 🥇 MT5 |
| ⌛ Timeframes | 21 |
| ⚙️ Technical Indicators | 38 |
| 📊 Analytical Objects | 44 |
| ✅ Economic Calendar | ☑️ Yes |
| 🚀 Platform Speed | 64 bit |
| 💻 Order Execution | Market Execution |
| 📈 Pending Order Types | 6 |
| 📌 Hedging | ☑️ Yes |
| ☑️ Strategy Tester | Multi Thread |
Smart Account
| 🔍 Account Features | 📈 Smart Account |
| 💵 Minimum Deposit | R8500 ZAR / $500 |
| 📊 Platforms offered | MetaTrader 5 |
| 📈 Spreads | Competitive |
| 📊 Instruments available | 2000+ |
| 💹 Maximum leverage | 1:400 |
| ⚖️ Minimum order size (Forex), Lots | 0.01 |
| ⚖️ Maximum Open and Pending Orders | Unlimited |
Islamic Account
Although it is not explicitly stated on the SmartFX website, Muslim traders who adhere to Sharia law are given the choice to register an Islamic Account. The broker’s website stated that it offered swap-free transactions, which means that an Islamic Account may be formed.
It is also unclear whether traders may simply change their current trading account to an Islamic Account or if there is a separate application process for a standalone Islamic Account. If Muslim customers desire to open an Islamic Account, it is advised that they get in touch with customer care.
There is quite a number of documents that need to be submitted before clients from specifically the UAE are accepted to open an account.
With an Islamic account, a client who practices Islam has an additional swap-free option and won’t be charged for overnight swap positions or rollover interests.
Demo Account
The option of opening a Demo Account, which can be used in a variety of ways, is one that SmartFX gives traders. For novice traders who want to hone their trading abilities and experience in a risk-free setting using fictitious money, a demo account is viewed as a practice account.
Open a demo account if you’d like to test out SmartFX’s trading conditions without taking any risks if you’re a trader comparing and assessing brokers.
The more experienced traders also use a demo account to test their trading methods in a simulated live trading environment without putting their money at danger.
The opening of a demo account with SmartFX is completely digital and hassle-free. The account can be opened for free and used for as long as you like.
The demo account type offers traders the chance to practice trading risk-free and has the same features as the live account type.
It takes only a few minutes to sign up for an account, and after a trader has downloaded and installed the MetaTrader5 platform, demo trading may start right away.
You might also like: SmartFX Review
You might also like: SmartFX Demo Account – Step by Step
You might also like: SmartFX Fees and Spreads
You might also like: SmartFX Islamic Account Overview
You might also like: SmartFX Minimum Deposit
You might also like: SmartFX Sign-up Bonus
You might also like: SmartFX Withdrawal Process
Frequently asked questions
Trading environment
How many instruments can I trade with SmartFX?
You can trade the following financial instruments, namely Forex, CFD indices, CFD equities, Futures, Commodities, and Stocks.
Which platforms are supported by SmartFX?
MetaTrader5.
Does SmartFX offer leverage?
Yes. Leverage of up to 1: 400.
What spreads can I expect with SmartFX?
The broker’s website doesn’t list spreads, but reviews say it starts at 2.4 pips.
Does SmartFX charge a commission?
No. SmartFX does not charge any commission on any trades. It is unclear whether Islamic account holders are subjected to the same commission charges. Traders must verify this information with the broker as it is not stated on the website.
Are there additional charges on the Islamic account?
Not that can be seen from SmartFX’s website.
Is SmartFX regulated?
Yes, SmartFX is regulated by Vanuatu Financial Services Commission (VFSC).
Is SmartFX a recommended forex trading broker for experts and beginners?
Yes. SmartFX caters to beginners and specialists, but only offers MT5 as a trading platform.
What is the overall rating out of 10 for SmartFX?
5/10.
Accounts
What is the difference between a demo and a live trading account?
A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform. A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.
Does SmartFX offer a demo account?
Yes. The broker does offer a demo account that has the same features as the live account.
For how long is the demo account valid?
The demo account can be used for an unlimited time.
Does SmartFX offer the option of an Islamic Account?
Yes. SmartFX offers the option of an Islamic Account for traders of the Muslim faith.
Which live trading accounts does SmartFX offer?
SmartFX offers only one individual live account type, namely the MT5 Smart Account.
What are the available deposit currencies for a live trading account?
USD, EUR, GBP, JPY, and RUB, but this depends on the payment method you use.
Deposits and withdrawals
What is the minimum deposit for SmartFX?
This is not clear on the broker’s website but appears to be $ 500 according to other reviews.
How do I make a deposit and withdrawal with SmartFX?
- Visa
- MasterCard
- American Express
- Skrill
- Neteller
- STICPAY
- Bank Wire Transfers through the National Bank of Vanuatu and Local bank in Dubai
Does SmartFX charge withdrawal fees?
No. SmartFX does not charge any withdrawal fees. Traders may be subjected to transaction fees that are charged by their bank.
How long does it take to make a withdrawal?
It is usually instant and will reflect into your account within 1 to 3 hours, with the exception of wire transfers which will only reflect into your account within 2 to 5 working days.
Top 4 Brokers
