The SmartFX minimum deposit amount required to register a live trading account is R8500-00. This minimum deposit is equivalent to $500 at the current exchange rate between the US Dollar and the South African Rand at the time of writing.
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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SmartFX Minimum Deposit Review – 6 Key Points Quick Overview
- ☑️ SmartFX at a glance
- ☑️ SmartFX minimum deposit Pros and Cons
- ☑️ SmartFX minimum deposit
- ☑️ SmartFX deposit fees and deposit methods
- ☑️ A step-by-step guide to depositing the minimum amount
- ☑️ Frequently asked questions
SmartFX minimum deposit Pros and Cons
| ✔️ Pros | ❌ Cons |
| The minimum deposit requirement is fairly low | Account base currencies are limited and vary depending on the payment method you choose |
| Regulated through VFSC | Currency conversion fees may apply |
| Reliable payment methods offered | |
| No deposit fees charged |
SmartFX minimum deposit
| 🔍 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 |
Despite not being explicitly stated on the SmartFX homepage, it appears that the broker requires a minimum deposit of $500.
Since its launch in 2018, SmartFX has been owned and run by Smart Securities and Commodities Limited. The broker is governed by the Vanuatu Financial Services Commission (VFSC) and registered with registration number 40491. It is permitted to trade in securities and offer its clients any type of financial service. Its registered offices are located in Port Vila, Vanuatu, at Office 1276, 1st-floor Govant building.
All client funds must be kept separate from the broker account and may only be used by traders to undertake trading activities, according to tight rules and regulations imposed by the majority of regulatory agencies and financial institutions.
Although it does not provide negative money protection, which means that clients could lose all of their cash if it goes out of business, SmartFX appears to comply with this. If you decide to trade with SmartFX, it is advised that you proceed with caution.
SmartFX deposit fees and deposit methods
| ➕ Deposit options | 💱 Base currency | 💰 Fees | ⏲️ Processing time |
| 💳 Visa | USD, EUR, GBP, JPY, RUB | Free | Instant |
| 💳 Skrill | USD, EUR, GBP | Free | Instant |
| 💳 Neteller | USD, EUR, GBP | Free | Instant |
| 💳 Wire Transfer | USD, EUR | Free | 2-5 working days |
| ➖ Withdrawal options | 💱 Base currency | 💰 Fees | ⏲️ Processing time |
| 💳 Visa | USD, EUR, GBP | Free | 1-3 hours to approve the withdrawal and transfer the funds |
| 💳 Skrill | USD, EUR, GBP | Free | 1-3 hours to approve the withdrawal and transfer the funds |
| 💳 Neteller | USD, EUR, GBP | Free | 1-3 hours to approve the withdrawal and transfer the funds |
| 💳 Wire Transfer | USD, EUR | Free | 1-3 hours to approve the withdrawal and 2-3 business days for funds to arrive |
When compared with other brokers, the minimum deposit that SmartFX requires when registering a live account is not too high.
Depending on the payment methods you use the deposit currencies accepted by SmartFX include USD, EUR, GBP, JPY, and RUB. Clients should verify with customer services or check the website before choosing a payment method.
SmartFX does not charge any deposit or withdrawal fees on any of the payment methods you might use. Traders should, however, ensure that they verify whether their financial institution waives its own fees as there may be additional fees payable.
These often depend on the payment method used as well as the amount which is deposited into the trading account.
A step-by-step guide to depositing the minimum amount
You can deposit money at SmartFX by logging into your client portal and going through a few easy steps.
Select the deposit option after logging into your client portal, then follow the on-screen directions to add money to your trading account. Before making a deposit, traders need to be sure they have chosen the appropriate deposit currency.
Please be aware that your SmartFX account must be validated in order to deposit or withdraw money. Money transfers must be made in the same currency as the recipient bank account. Traders might be charged for currency conversion if they fail to comply with this.
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Frequently asked questions
What is the minimum deposit for SmartFX?
R8500 ZAR / $500.
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.
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