The SmartFX demo account reviewed in South Africa, shows that SmartFX offers an advanced demo trading account in a zero-risk trading environment. The demo account has the option of being converted into a real live account. The demo account has a trust score of 89%.
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
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Regulators 📈 Total Pairs
Islamic Account 
Trading Fees
SmartFX Demo Account Review – 5 Key Points Quick Overview
- ☑️ SmartFX at a glance
- ☑️ SmartFX demo account Pros and Cons
- ☑️ SmartFX Demo Account Features
- ☑️ How to set up a Demo Account – Step by Step
- ☑️ Frequently asked questions
SmartFX demo account Pros and Cons
| ✔️ Pros | ❌ Cons |
| The demo account does not expire | None |
| Offers MetaTrader5 | |
| Demo account sign-up fully digital | |
| To sign up only takes minutes |
SmartFX Demo Account Features
SmartFX’s demo account offers the same features that are offered on a live trading account since traders have access to the same functions, features, and options that they would normally find on a live trading account.
The demo account is the lone exception, as traders only utilize fictitious money when trading on it. As a result, traders are unable to withdraw any winnings they make using the demo account.
Traders that utilize MetaTrader5 have access to the many features, tools, functions, and other things that these trading platforms have to offer.
How to set up a Demo Account – Step by Step
To register for, and set up a demo account with SmartFX, traders can follow these 7 steps mentioned below:
- Step 1 – Navigate to the SmartFX website and click on the link ‘Practice try demo’.
- Step 2 – Traders will then be redirected to a new page where they need to complete an online registration form.
- Step 3 – Fill in the required fields by supplying your first and last name, email address, and mobile number.
- Step 4 – Before proceeding select the box where you agree that SmartFX may provide you with products, services, and promotional and educational information by telephone, SMS, or email.
- Step 5 – An OTP will be sent to your cell phone to verify that the number is correct.
- Step 6 – Next you will receive an email at the address that you have provided that will verify your information is correct. The email will contain the trader’s demo account number and an automatically generated password.
- Step 7 – Lastly you need to log onto the site again on which you will be redirected to a demo account platform where you are free to explore the broker’s offering. You can immediately start to practice trading, test strategies, and more after downloading the MetaTrader5 platform.
A demo account is also known as a practice account since it gives traders the freedom and opportunity to investigate the broker’s offerings without running the danger of suffering losses by providing them with virtual funds to practice trading with.
Demo accounts can be used by novice traders to get accustomed to a live trading environment. By actively engaging in trades, they can hone their trading abilities and create their own trading plans.
Additionally, demo accounts give more experienced traders the chance to check out what SmartFX has to offer and are not just for beginners.
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Frequently asked questions
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. SmartFX does offer a demo account.
For how long is the demo account valid?
With SmartFX the demo account availability is unlimited.
Which live trading accounts does SmartFX offer?
SmartFX offers only one account, 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. Refer to the broker’s website before depositing any funds into your account as currency fees might apply.
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