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SmartFX Fees, Spreads and Commission

SmartFX Fees and spreads Review

 

Overall, SmartFX offers competitive fees and spreads. SmartFX does not charge deposit fees or withdrawal fees. With SmartFX minimum order size is 0.01, and there is an unlimited amount of maximum and open orders.

 

SmartFX at a glance

🔍 Broker's NameSmartFX
📍 HeadquarteredPort Vila, Vanuatu
📅 Year Founded2018
⚖️ Regulating AuthoritiesVFSC
🌐 Countries not accepted for tradeUS
☪️ Islamic account (swap-free)Yes
👍 Demo AccountYes
📊 Institutional AccountsYes
📊 Managed AccountsNo
📈 Maximum Leverage1:400
💰 Minimum Deposit$500
➕ Deposit OptionsVisa, MasterCard, American Express, Skrill, Neteller, STICPAY, Bank Wire Transfers through the National Bank of Vanuatu and Local bank in Dubai.
➖ Withdrawal OptionsVisa, MasterCard, American Express, Skrill, Neteller, STICPAY, Bank Wire Transfers through the National Bank of Vanuatu and Local bank in Dubai.
💻 Platform TypesMT5
📱 OS CompatibilityWeb browsers, Windows, Android, iOS
📈 Tradable assets offeredForex, CFD indices, CFD equities, Futures, Commodities, and Stocks
👨‍💼 Languages supported on WebsiteEnglish
👥 Customer Support LanguagesEnglish, Japanese and Chinese
☎️ Customer Service Hours24/5

 

Overall Rating

4.6/5

Rated #534 of 
Recommended FX Brokers

💰Minimum Deposit

500 USD

🌐 Regulators

VFSC

📱 Trading Desk
MT5
Crypto

Yes

📈 Total Pairs

130+
☪️ Islamic Account
Yes
📊 Trading Fees

LOW

🕒 Account Activation Time

Instant

🏛️ Visit Broker

 

SmartFX Fees and Spreads Review – 6 Key Points Quick Overview

  1. ☑️ SmartFX at a glance

 

SmartFX fees and spreads

 

SmartFX isn’t transparent regarding specific instrument spreads, however, the broker claims that its floating spreads are competitive. No clear indication could be found on the broker’s website on spreads or any fees for that matter. Other reviews indicate that spreads start at 2.4 pips.

The lack of information surrounding trading fees is a concern, as providers usually operating scams often aren’t clear when it comes to fees so this is a red flag in regards to SmartFX.

The broker does, however, clearly state that it does not charge any commissions for trade executions but collects a brokerage fee from the spreads.

Price spreads usually vary throughout the day depending on factors such as available liquidity (supply and demand), market forces, volatility, and the trading session.

 

SmartFX fees and spreads Pros and Cons

✅ Pros❌ Cons
No deposit fees or withdrawal fees chargedSpreads are not the tightest
Zero commissions charged on floating spreadsNo transparent fee schedule offered
Competitive trading conditions
MetaTrader5 offered
Islamic Account/Swap-free provided for Muslim traders
Demo account offered

 

SmartFX additional trading fees

 

When trading financial instruments such as forex, traders can often expect that overnight, or swap fees will be charged when positions are held for longer than a trading day.

It is clearly stated on SmartFX’s website that if short positions or long positions are held overnight will not be charged with swaps. This makes this broker an ideal broker for clients that follow the Muslim faith where the Sharia law prevents them from earning or paying interest where the holding of open positions is concerned.

For more information on the swaps that traders can expect, traders can contact customer services.

Although not clearly stated on SmartFX’s website, the broker does not offer spread betting, and thus spread betting fees do not apply.

 

SmartFX broker fees

 

SmartFX does not charge deposit fees or withdrawal fees on its MT5 Smart Account.

Traders need to, however, ensure that they verify additional charges which may be waived by their financial institution. In addition, traders may be subjected to currency conversion fees should they transfer fees in a currency that is different from their account base currency.

SmartFX offers based currencies such as USD, EUR, GBP, JPY, and RUB, but this depends on the payment method you use.

 

You might also like: SmartFX Review

You might also like: SmartFX Account Types Overview

You might also like: SmartFX Demo Account – Step by Step

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

 

How many instruments can I trade with SmartFX?

You can trade the following financial instruments:

  • Forex
  • CFD-indices
  • CFD-equities
  • Futures
  • Commodities
  • 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?

It is not clear on the broker’s website what the spreads are but reviews indicate that it offers floating spreads that start from 2.4 pips.

 

Does SmartFX charge a commission?

No, SmartFX offers commission-free trading.

 

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 does cater to both beginners and experts but with only the offering of MT5 as a trading platform, beginner traders might find this challenging.

 

What is the overall rating out of 10 for SmartFX?

6/10.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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