SmartSTP is a rapidly growing CFD broker offering a user-friendly trading platform for trading across Forex, Commodities, Cryptocurrencies, Metals, Indices, and the Stock market.
The broker is owned and operated by MRL Investments (MU) LTD, a well-recognized financial services group in Mauritius, and it is regulated by the Mauritius Financial Services Commission (FSC).
The brokerage has a range of features and benefits that make it attractive to traders of all experience levels. These include competitive fees, a wide range of trading instruments, a user-friendly trading platform, and a free demo account.
For traders new to this platform, this SmartSTP review will provide them with a comprehensive understanding of the broker, exploring 10 key considerations you should look into before signing up.
SmartSTP Scam Report
SmartSTP has established itself as a trustworthy and secure broker for traders to trade with. The broker’s legitimacy is well-established due to the strict regulations it holds from the Mauritius Financial Services Commission (FSC), with license no GB21027168.
SmartSTP is bound by these regulations, which means that it must adhere to strict compliance standards, including transparency and fairness.
Additionally, we could not find any reports or indications of SmartSTP being involved in any fraudulent activity or scam. However, as with any financial investment, there is always some degree of risk involved, and traders should conduct their due diligence and be aware of the risks associated with trading.
Safety & Security Features
SmartSTP prioritizes the safety and security of its clients’ funds and personal information. The platform uses advanced security measures such as SSL encryption, two-factor authentication, and segregated client accounts to ensure the safety of its client’s funds. The platform is also compliant with the latest data protection regulations.
Available Trading Instruments At SmartSTP
The platform impresses us with its diverse offering of trading instruments. There are over 300 underlying assets available for CFD trading across all major financial markets, including Forex, Crypto, Stocks, Metals, Commodities, and Indices.
We appreciate the platform’s user-friendly interface, which made it easy for me to navigate and explore the different asset categories.
SmartSTP Fees & Commission
SmartSTP provides an attractive option for traders who are seeking cost-effective trading solutions, as the platform offers competitive trading conditions with low spreads and high leverage.
Additionally, the platform does not charge commissions on trades. Compared to other online brokers, SmartSTP’s SWAP charges are also minimal.
However, it is important to note that spreads on SmartSTP’s platform are variable and can fluctuate depending on the asset being traded and market conditions.
Traders with a Silver Account can expect spreads starting from 28 pips, while Gold Account holders enjoy a 50% discount on spreads starting from 20 pips. Platinum Account holders can access the lowest spreads starting from 18 pips, with a discount of 75%.
Maximum Leverage Offered
SmartSTP offers maximum leverage of 1:500, comparatively higher than many other CFD brokers. The broker also provides negative balance protection to ensure traders cannot lose more than their account balance.
For Forex trading, the broker offers leverage of up to 1:200 for Silver and Gold accounts and 1:500 for Platinum accounts. Leverage for trading in other instruments such as indices, stocks, commodities, metals, and cryptocurrencies ranges from 1:2 to 1:125, depending on the type of account.
Supported Trading Platforms
SmartSTP allows traders to trade directly through WebTrader on its website. The platform provides traders with a user-friendly interface that offers advanced charting tools, technical analysis indicators, and risk management features.
However, the broker currently does not offer a mobile trading platform or MT4. But the brokerage is planning to launch its proprietary mobile app soon.
Account Options At SmartSTP
SmartSTP’s diverse range of account options includes Silver, Gold, and Platinum. Additionally, the broker offers an Islamic account for traders who adhere to Islamic finance principles.
Meanwhile, there is a free demo account option, which offers instant virtual funding and provides an opportunity for traders to practice trading before risking real money.
The features of SmartSTP live trading accounts include –
The Silver account requires a minimum deposit of $250 and offers multiple execution modes, including MT4NCC, MT4 Fixed, MT4NDD, and MT4 Cent. The account can be denominated in USD, EUR, or GBP, and offers an average execution speed of 0.08 seconds. Spreads start from 28 pips, and the maximum leverage is 1:200.
The Gold account requires the same minimum deposit of $250 as the Silver account and includes all of its features. In addition, Gold account holders enjoy an average execution speed of 0.06 seconds, spreads starting from 20 pips (50% discount), news alerts, a dedicated account manager, access to webinars and videos, and a 25% swap discount.
The Platinum account requires a minimum deposit of $50,000 and includes all of the features of the Silver and Gold accounts. Platinum account holders also enjoy an average execution speed of 0.08 seconds, spreads starting from 18 pips (75% discount), and a maximum leverage of 1:500. Additionally, Platinum account holders receive a 50% swap discount.
SmartSTP Deposit & Withdrawal Options
SmartSTP’s supported list of payment methods is comprehensive, with the availability of all popular options like bank transfers, credit/debit cards, and online payment systems, including PayPal, Neteller, Skrill and VPay.
However, it’s worth noting that the broker does not charge any fees for deposits and withdrawals, some payment methods may incur additional charges. As such, it is recommended that clients carefully review the fees associated with each payment method before making any transactions.
Educational & Research Support
SmartSTP provides traders with a good selection of research tools, which include multiple chart types, technical analysis tools, real-time market data and one-click trading options.
Despite its impressive offering of research material, SmartSTP falls short in providing a comprehensive educational suite. The broker lacks blogs, webinars and other educational tools on its platform.
Customer Support
SmartSTP offers exceptional customer support services via email and phone. The broker also provides a live chat option on its website, which can be a quick and convenient way for traders to get in touch with the support team.
The email ([email protected]) and phone support (+971525353542, +41225087362) options are available from Monday to Friday: 08:00 to 17:00 GMT.
Conclusion
Overall, SmartSTP stands out as a reliable and trustworthy broker due to its FCA regulation and segregation of client funds. Traders can benefit from a range of trading instruments, competitive fees, and a user-friendly platform.
Additionally, the broker’s customer support is available through various channels, though not 24/7. Therefore, SmartSTP can be an attractive choice for traders who prioritize regulatory compliance and a straightforward trading experience.
The limitations such as the limited educational offering may not be significant drawbacks for traders who value safety and ease of use over more advanced trading features.
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