SmartFX Market-Overview of Minimum Deposit, Spreads & Leverage

General Information

SmartFX Market, founded in 2007, presents itself as the leading True ECN forex broker in Australia, claiming to offer various accounts, trading software, trading tools, leverage as high as 500:1 and variable spreads to trade in forex market for individuals, fund managers and institutional customers, as well as 24×5 customer support services.

Market Instruments

SmartFX Market advertises that it offers over 175 trading instruments ranging from currencies, CFDs, commodities, precious metals, stocks, indices, futures, fossil fuels, to options, using its desktop, foreign exchange, tablet or smartphone devices.

Account Types

SmartFX Market offers four live accounts to its clients: Silver, Gold, Platinum and Diamond. The minimum initial deposit for the Silver account is $100, while the other accounts start at $500, $1,000 and $5,000 respectively.

Leverage

SmartFX Market claims to offer flexible leverage ratios, ranging from 1:1 to 500:1. And you can also change the leverage ratio. The clients of the Silver account enjoy the maximum leverage ratio of 500:1, the Gold account with 400:1, the Platinum and Diamond accounts with 200:1. Attention that too high leverage is not always beneficial for traders due to its consistent gains and losses.

Spreads & Commissions

All account types are equipped with variable spreads. The spread in the Silver and Gold account starts from 1 pips, the Platinum account from 0.8 pips, and the Diamond account from 0.5 pips, all charging no commissions. While the True ECN account shows the raw inter-bank spread and it requires commission of $7 per standard lot.

Trading Platform Available

When it comes to trading platforms available,SmartFX Market gives traders three choices: MetaTrader4, MetaTrader5 and Trading Server. MT4 has three versions: MetaTrader4 iPhone, MetaTrader4 Android and MetaTrader4 Apple Mac. The most popular trading platform in the world, MT4, offers a feature-rich, user-friendly interface and a highly customized trading environment. It is also equipped with charting functionality and innovative order management tools, which ensure that you can monitor your positions fast and efficiently. It also provides clients access to the financial markets through the industry-leading MetaTrader5 trading platform. MT5 is a powerful platform equipped with brand new features, available on both of the SmartFX Market account types: True ECN and Standard. While the cTrader server was specifically designed for ECN connectivity.

Deposit & Withdrawal

SmartFX Market works with a huge variety of payment methods, including Credit and Debit Cards, PayPal, Wire Transfer/Bank Transfer, Skrill, Local Bank Transfer (Outside Australia), Neteller, QIWI, Webmoney, China Union Pay, FasaPay and Broker to Broker Transfer. You can withdraw more than your initial deposit and it will be paid back to your credit card. The deposit and withdrawal processing time varies according to different payment methods. SmartFX Markets official site shows that deposit via Credit card, Skrill and Webmoney can usually be processed within 30 minutes, domestic wire transfers and Bpay deposits are processed overnight, and international wire transfers in 3 to 4 days. While withdrawals received before 03:00 GMT can be processed on the day the withdrawal application form is received.

Customer Support

SmartFX Market‘s customer support can be reached through email: support@smartfxmarket.com. What’s more, you can also follow this broker on Facebook. Company address: 86 Gracechurch St, London EC3V 0AA, London, United Kingdom. However, this broker doesnt provide any more direct contact information about phone number while most brokers offer.