WikiFX Broker Assessment Series | Is Smarty Trade Reliable?

In this article, we are going to discuss the broker named Smarty Trade. If you are planning to invest in this broker, it is wise to read this article before taking action.

About Smarty Trade

Smarty Trade is an online trading platform registered in Canada, operating as an unregulated broker. It offers traders the flexibility to choose from three account types: Glod, Silver, and Bronze, each tailored to different trading needs.

Is it Legit？

This broker cannot be considered as a regulated broker. We didnt find regulation information related to this broker and WikiFX has marked it as a “No License” broker and given it a low score of 1.20/10. Traders need to be careful of the potential risks.

Trading Platform

Smarty Trade offers a versatile trading platform for Options and CFD trading, accessible in three versions: web, Android, and iPhone.

The broker offers three tiered trading accounts: Gold, Silver, and Bronze, each tailored to meet the distinct needs of traders.

Gold Account:

Benefits: 24/7 live chat support, 1-hour withdrawals, +50% bonus, demo account, Copy Trading tool, Master class sessions, first 3 risk-free trades, personal success manager.

Silver Account:

Benefits: All Gold account features, +100% bonus.

Bronze Account:

Benefits: All Silver account features, +150% bonus, ideal for experienced traders.

Leverage

This broker offers maximum trading leverage of up to 1:100, allowing traders to control a position size up to 100 times their initial capital. High leverage can amplify both profits and losses, so it's essential for traders to use it cautiously and employ effective risk management strategies to protect their investments. Understanding the implications of leverage and trading according to one's risk tolerance and experience is crucial when utilizing this level of leverage.

Spreads & Commissions

The company employs a flexible pricing structure that involves spreads and commissions, which can vary depending on the specific financial instruments and trading accounts used.

Spreads: Spreads are commonly applied as trading costs and are dynamic, taking into account factors like market liquidity and competitiveness. The company reserves the right to adjust spreads, particularly during periods of increased volatility or market illiquidity.

Conclusion

We don't advise you to trade with this broker as it is unregulated. If you want more information about certain brokers' reliability, or you can download the WikiFX App to find your most trusted broker.