SmartFX Review 2023

/ 5
SmartFX is #109 in our CFD broker rankings.

SmartFX is a leading online provider of forex, CFDs and futures.


Demo Account

Trade Signals
Forex, CFD-indices, CFD-equities, futures
Neteller, Wire Transfer, Skrill, Visa

Forex Trading

Trade on forex with floating spreads

Stocks Trading

Trade on European, Asian and US stock exchanges.

CFD Trading

Broaden your portfolio with leveraged CFDs

Crypto Trading

Not Available

SmartFX is an online broker offering several trading options including currency pairs, commodities and stocks. The broker offers a simple trading solution with one account and a single trading platform. Our review details the login process, account types and trading hours. Read on to find out if becoming a SmartFX trader is the right choice for you.

Company Overview

SmartFX has offices in Dubai and Vanuatu and is operated by Smart Securities and Commodities Limited. The company is regulated by the Vanuatu Financial Services Commissions (VFSC) and looks to separate itself through its straightforward trading proposition with its real-money Smart account and the MetaTrader 5 platform.

Note the company has no affiliation with EA SmartFX ultimate scalper or associated products.

MetaTrader 5 Platform offers the latest trading technology through the MetaTrader 5 (MT5) platform. The platform is available for download via the broker’s website or mobile. The latest model of the popular MT4 system, the terminal is a powerful all-in-one trading solution with an array of useful features:

SmartFX MT5 platform
SmartFX MT5 platform


SmartFX offers over 73 forex and CFD trading options, from major, minor and exotic currency pairs to popular commodities like oil and gas. Clients can also buy and sell in indices from major countries, plus stocks and shares in leading online companies. Whilst not the most extensive array of trading instruments, our review was satisfied that the needs of most traders will be met.

Spreads & Commission

SmartFX isn’t transparent regarding specific instrument spreads, however, the broker claims that its floating spreads are competitive. The lack of information surrounding trading fees is a concern. Providers operating scams often aren’t clear when it comes to fees so this is a red flag.

Leverage Review

SmartFX offers maximum trading leverage of 1:400. Details regarding different instrument leverage rates are available once the trader’s smart account has been approved or via the demo account. Whilst leverage levels are high it does mean the risk of losses is amplified so we would recommend approaching carefully.

Mobile Apps

Clients can download the Smart FX app to use the MetaTrader 5 platform on the go. The app is available for iPhone (iOS) and Android (APK) devices. Downloads are available from the relevant app stores. The app is an excellent portable solution promising a variety of instant and pending orders, demo trading, rapid payment options and built-in chat support.

SmartFX MT5 mobile trading
SmartFX MT5 mobile trading

Payment Methods

All payment methods at SmartFX allow traders to deposit and withdraw via USD and EUR. Standard payment options, such as Skrill, Neteller and bank wire transfer are available. It’s free to finance your account and processing times are mostly instant.

This review was pleased to see depositing and withdrawing funds is quick and easy.

SmartFX payments
SmartFX payments

Demo Account

A demo account is available which allows users to practice trading on the MT5 platform before proceeding with a full account. To open a demo account, select Practice from the broker’s homepage. Once you’ve submitted some basic details you can download the MT5 platform and start trading in forex and CFD markets without risking real capital.


At the time of writing, SmartFX does not offer any deposit bonuses or promotions. Whilst new traders may be disappointed, it’s common practice among reputable providers not to offer welcome deals. In case this changes, check the broker’s website before you open an account.

Licensing Review

SmartFX is operated by Smart Securities and Commodities Limited and is regulated by the Vanuatu Financial Services Commissions (VFSC). Unfortunately our reviews are always disappointed to see oversight from less reputable bodies, such as the VFSC. Users won’t get the same robust protections afforded by the likes of the FCA.

Despite offices in Dubai, SmartFX is not authorised to provide financial services in the UAE.

Additional Features

SmartFX offers access to the MetaTrader Market opening the door to a huge array of additional indicators, automated trading solutions and charting tools. The brokerage also provides daily market analysis, covering indices and commodities. The only thing missing is hands-on learning resources, such as webinars, which might deter some beginners.

SmartFX market analysis
SmartFX market analysis

Trading Accounts

SmartFX only offers one account, the Smart Account. Registering for the Smart account is quick and easy requiring only a few personal details and identification documents to be uploaded. Once opened, users can trade the full range of CFDs, forex and futures. The minimum position size is 0.01 lots and payments are free.


Advantages of trading with SmartFX include:


Downsides to signing up with SmartFX include:

Trading Hours

SmartFX offers the option to trade 24 hours a day, 5 days a week, effective Monday to Friday. Trading hours for commodities and indices may vary. Login to the MT5 platform and head to instrument specifications to view market opening hours.

Customer Support

Customer support can be reached via:

On testing the live chat service, responses were fast however detailed information is only available after you’ve provided personal contact details.

Client Safety

Whilst SmartFX isn’t transparent about the security protocols used on its website, the MT5 platform is secure. From 128-bit encryption and 2FA protocols, executed trades are relatively safe and the payment options offered are secure.

SmartFX Verdict

SmartFX offers a simple solution to forex and CFD investing using the industry-leading MT5 platform. To get a taste of using the broker, clients can open a demo account. SmartFX is not a scam however users should be aware that the broker is not heavily regulated and doesn’t offer negative balance protection.

Accepted Countries

SmartFX accepts traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use SmartFX from United States.

Payment Methods

SmartFX Details

Minimum Trade 0.01 lots
Regulated By VFSC
Islamic Account No
Mobile Apps Yes
Margin Trading No
Volatility Index No
Spot Trading No
Perpetual Swaps No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection No
VPS Hosting No
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker No
Auto Trading Yes
Social Trading No
Trade Signals Yes
Guaranteed Stop Loss No
  • Gold
  • Silver

CFD Trading Details

FTSE Spread Floating
GBPUSD Spread Floating
Oil Spread Floating
Stocks Spread Variable
Leverage 1:400

Forex Trading Details

GBPUSD Spread Floating
EURUSD Spread Floating
EURGBP Spread Floating
Assets 43

Compare SmartFX

Compare SmartFX with similar brokers that accept traders from your location. Among available brokers these are the most similar to SmartFX:

  1. OANDA – OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is authorized by leading regulators, including the CFTC/NFA. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
    Go to OANDA
  2. Webull – Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.
    Go to Webull
  3. – boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to

SmartFX Comparison Table

Compare SmartFX With Similar Brokers
SmartFX OANDA Webull
Rating 2.5 4.5 4.4 4.5
Markets Forex, CFD-indices, CFD-equities, futures Forex Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options
Demo Account Yes Yes Yes Yes
Minimum Deposit Undisclosed $0 $0 $100
Minimum Trade 0.01 lots $0 $5 $1
Bonus $5,000 welcome bonus with a deposit of $500 Six free stocks
Education No Yes Yes Yes
Platforms MT5 MT4, TradingView, AutoChartist MT4, MT5, TradingView, AutoChartist, TradingCentral
Leverage 1:400 1:30 EU, 1:200 Global 1:200
Payment Methods 4 12 3 8
Visit Visit Visit Visit
Review SmartFX

Compare Trading Instruments

Compare the markets and instruments offered by SmartFX and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare SmartFX Trading Instruments
SmartFX OANDA Webull
CFD Yes No No Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes No Yes
Oil No No No Yes
Gold Yes Yes No Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No Yes No No
Crypto No Yes Yes Yes
Futures Yes No No Yes
Options Yes No Yes Yes
ETFs No No Yes No
Bonds No Yes No No
Warrants No No No No
Spreadbetting No No No No
Volatility Index No No No No

SmartFX vs Other Brokers

Compare SmartFX with any other broker by selecting the other broker below.

SmartFX vs


Is SmartFX regulated?

SmartFX is operated by Smart Securities and Commodities Limited and is regulated by the Vanuatu Financial Services Commissions (VFSC). Note the VFSC is not the most trustworthy regulator.

What trading platforms does SmartFX use?

SmartFX only offers one trading platform, the MetaTrader 5 (MT5) terminal. Aimed at experienced retail and professional traders, users get a range of powerful trading features.

Is SmartFX available on mobile?

Yes, the Smart account is available to download and the SmartFX app is compatible with both iOS and Android phones.

Does SmartFX offer a demo account?

SmartFX allows you to trade with a practice account before signing up for their full account. Select Practice from the broker’s website and follow the sign-up instructions.

Who owns SmartFX?

Smart FX is operated by Smart Securities and Commodities Limited. Limited information is available about the owners and management team, which is a little concerning.

SmartFX is a leading online provider of forex, CFDs and futures.