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Score

1.93 /10
Danger

Smart Trader

Iraq

2-5 years

Suspicious Regulatory License

White label MT5

Regional Brokers

High potential risk

https://www.smarttraderiraq.com/#

Influence

D

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Comparison

Quantity 1

Exposure

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Website

Score

Regulatory Index0.00

Business Index6.85

Risk Management Index0.00

Software Index6.95

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Smart Trader Company

Company Abbreviation

Smart Trader

Platform registered country and region

Iraq

Company website

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Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2025-08-21
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Exposure

1 pieces of exposure in total
Pyramid scheme complaint
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Smart Trader · Company summary
Smart Trader Review Summary
Founded2018
Registered Country/RegionIraq
RegulationNo Regulation
Market InstrumentsForex, gold, silver, oil
Demo Account✅
Islamic Account✅
LeverageUp to 1:300
SpreadFrom 1.2 pips
Trading PlatformMT5
Minimum Deposit$100
Customer SupportPhone: +964 07709128787
Email: info@smarttraderiraq.com
Facebook, Instagram, Telegram, YouTube

Smart Trader is an unregulated financial brokerage firm founded in 2018 and registered in Iraq. It offers various market instruments, including Forex, gold, silver, and oil. The firm provides a demo account for practice, and supports the MetaTrader 5 (MT5) platform. Moreover, Smart Trader offers seven types of accounts, including Islamic accounts, with a minimum deposit requirement of $100. The maximum leverage available is up to 1:300.

Smart Trader's homepage

Pros and Cons

Pros Cons
Demo accounts availableNo regulation
Diverse account typesLimited info on deposit and withdrawal
MT5 platform

Is Smart Trader Legit?

At present, Smart Trader lacks valid regulation. Its domain was registered on Dec 31, 2020, and the current status is “client transfer prohibited”. Please pay high attention to the safety of your funds if you choose this broker.

No license
Domain information

What Can I Trade on Smart Trader?

On Smart Trader, you can trade with currencies, gold, silver, and oil.

Tradable Instruments Supported
Currencies✔
Gold & Silver✔
Oil✔
Indices❌
Stocks❌
Cryptocurrencies❌
Bonds❌
Options❌
ETFs❌
Mutual Funds❌
What Can I Trade on Smart Trader?

Account Type

Smart Trader provides seven types of accounts as well as Islamic accounts. The minimum deposit is $100.

Account TypeIslamic Account (No Swap)Minimum Deposit
Titanium✔️$1,000
Iron✔️$1,000
Cobalt✔️$50,000
Rhodium✔️$50,000
Super Low✔️$100
Platinum✔️$100
Platinum Plus✔️$10,000
Account comparison

Leverage

The maximum leverage is up to 1:300.Note that high leverage can amplify not only profits but also losses.

Account TypeMaximum Leverage
Titanium1:300
Iron1:300
Cobalt1:300
Rhodium1:300
Super Low1:300
Platinum1:200
Platinum Plus1:200

Spreads and Commissions

Account TypeSpreadCommission
Titanium from 2.5 pipsNo commission
Iron from 1.5 pips$10 for each standard lot
Cobalt from 1.2 pips$10 for each standard lot
Rhodium from 2.2 pipsNo commission
Super Low from 1.2 pips$20
Platinumfrom 1.9 pips$10
Platinum Plus from 1.9 pips$5

Trading Platform

Trading PlatformSupported Available Devices Suitable for
MT5✔Windows, MacOS, iPhone/iPad, AndroidExperienced traders
MT4❌/Beginners
MT5 platform

Deposit and Withdrawal

Smart Trader supports payments through FastPay, FIB, Remittance Offices, and Smart Trader Head Offices.

Deposit and Withdrawal

User Reviews

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User comment

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Comments

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HGEF1EQ
more than one year
Really happy with Smart Trader's Islamic account. Great experience overall!
Really happy with Smart Trader's Islamic account. Great experience overall!
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2024-06-27 15:16
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kristo in trading
more than one year
Smart Trader seems to be playing a shell game with their accounts. Despite repeatedly confirming that their demo and live accounts have the same conditions, my experience suggests otherwise. While my losses are minimal (only $5.6 after 113 trades), the red flags are concerning. Firstly, there's strong evidence of stop hunting. Secondly, slippage occurs on live accounts, despite their claims of it happening on both demo and live. However, curiously, the demo account seems to be completely free of slippage. Finally, order execution on the live account feels entirely different compared to the smooth experience on the demo. This inconsistency raises serious doubts about the fairness of their trading environment.
Smart Trader seems to be playing a shell game with their accounts. Despite repeatedly confirming that their demo and live accounts have the same conditions, my experience suggests otherwise. While my losses are minimal (only $5.6 after 113 trades), the red flags are concerning. Firstly, there's strong evidence of stop hunting. Secondly, slippage occurs on live accounts, despite their claims of it happening on both demo and live. However, curiously, the demo account seems to be completely free of slippage. Finally, order execution on the live account feels entirely different compared to the smooth experience on the demo. This inconsistency raises serious doubts about the fairness of their trading environment.
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2024-04-16 16:05
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