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SmartTradeFX.com Review MT4 - MetaTrader Platform

Overall Rating: (3.912)
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Total Reviews: 47
Last Updated: 2014-03-25
Special Notes:

 

May 2012: FPA Review Moderation Team Note:  If any of the recent reviewers wish to continue their disagreements, please take it to the discussion thread linked to this page.

Note 2:  In the case of followup reviews where the reviewer has left a prior review, the old review is placed beneath the new one.  Only the star rating in gold applies. "Date: X Stars" written below that does not affect the rating.  Reviewers are allowed to change their ratings in this way or may keep the original rating.

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FPA Review Moderation Team, USA

Rating: No Rating
Date of Post:2009-12-01
Review: We haven't tried a forex trading account with SmartTradeFX.com. If you've traded forex with this broker, please leave a review.

claude hamelin, montreal, Canada

Rating: No Rating
Date of Post:2013-12-19
Review: great broker and great support . Been with them for 3 years.The ONLY broker I have tried that don't give you trouble when you try withdrawing money. The other brokers I have tried,withdrawing money is like pulling a tooth from them. All kinds of excuses not to send money like identification out of date, cannot refund by credit card, cannot read document, all kinds of complicated procedures etc.etc.

ns, Beirut, Lebanon

Rating:
Date of Post:2013-07-04
Review: Well, I am new to trading, just one year with this broker, all is going well, never faced any issues with them, my losses were all my mistakes and my wins the proper trading I've done. I did not make a withdrawal request yet because I'm trying to grow my account still, will be updating when doing so or for any other matter, for now, excellent.

Paul S, Alabama, USA

Rating:
Date of Post:2013-06-19
Review: I have been trading with SmartTrade Fx for about two years and have been extremely pleased. The spreads are consistent, the platform has been stable and the customer service has been excellent. All of my withdrawal requests have been processed quickly and the money has always been in my bank account in a matter of days. I have used several brokers over the years but this one is my favorite.

Muhammad Alharbi, London , United Kingdom

Rating:
Date of Post:2013-06-12
Review: I have opened an account with SmartTradeFX, and after three weeks I asked to withdraw my profit and as I expected from a good company to be , I received my money to my bank account in 3 days.
Inshaallah I will continue to do business with this broker. It's good to mention that I've got a very good service from this company .

Stephen, Washington, USA

Rating:
Date of Post:2013-06-05
Review: I must say I do not agree with the previous posts. I have traded with Smart Trade FX for a while now. I have not experienced any of the problems that they have. I like their low spreads and instant execution. I have never been re quoted in price. There was a issue with liquidity once and they refunded the account. So I can not complain because they made the situation right. I have seen worse problems and experienced worse problems with other brokers. The one thing I can tell you is they are not thieves just trying to steal peoples money that is an absolute joke. So I am not sure if I can give them 5 stars but I do know their GM and he works hard to try and make clients happy. You will never make everyone happy no matter what but at least they try.
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Karon Lewis, Kissimmee, USA

Rating:
Date of Post:2013-05-26
Review: I stopped using them they changed. Theyre only goal is to make money by stealing it from there clients. %100 dealing desk. When ever you enter the market you will get delayed up to 5 seconds so they enter you at the worst price. Server will suddenly freeze for 5 minutes with no warning. They dont care about SL TP levels and the "News" volatility is bulls***. I trade with profiforex now and the server is just fine during news. The sec investigated brokers like these and found they bought plug in programs for mt4 that lets them do Asymmetrical pricing and manipulate trades. NEVER BELEIVE AND EXCUSE FROM A BROKER THEY LIE. SERVER DOWN, DELAYS, MISS TLSL ARE ALL TOOLS THEY USE TO STEAL MONEY FROM CLEINTS.

Why do you think they offer such high leverage ? the prime brokers would never support that leverage meaning that smarttrade must provide liquiduty themselves, and no broker is going to pay out of there own money. They were good at first but greed got to them, if you care about ur own money dont give them any. I use a different broker today and never had a problem .

2012-04-23 5 Stars Still with them

They rebuilt there website and hired new staffed in january and the result was very slow execution which was frustrating. I also had massive slippage on TP and SL but thank fully they reimbursed me for every penny. Today they switched over to new servers and i must say this is the fastest execution i have ever had trading mt4. I also asked them about the negative reviews such as from bob usa and they said they were fake. I never usually believe a broker but Bob complaint seems fishy.

I give 5 stars because they have never chased my stop loss and have, or traded against me, to be honest i almost left due to the execution but there new server is lighting fast.

To be fair i have never withdrew any money so i cant attest to withdrawals but even that fraud bob says he got all his money house.

FPA Review Moderation Team Note: Some portions of this review have been removed. Different traders will have different opinions and experiences. If you wish to start a discussion about the company, please use the discussion thread linked to this review page.

2011-07-30 5 Stars Hands down the only legitimate retail broker online, outside major instituion like mf global

Trades reflect the same ecn spread of demo account and they even let me trade new and scalp

Yes I SAID THEY EVEN LET ME TRADE NEWS

As far as the comment under me if there were a scam broker u would not recieved any of ur funds u are just a idiot to make 3 reviews in a matter of 3 days and still got ur money they are people suing fx brokers for years after loosing hundreds of thousands and u dare leave a bad review for the only broker that legitimate why do u visit forex peace army list of scams for brokers in there review section and see what criminals do

IF SMART TRADER WAS U SCAM U WOULD NEVER SEE A PENNY

2011-07-03 Update

I got in contact with them they also offer oil and indices trading will be setting up a live account soon and report back

They are the highest rated broker on this sight so well see how it goes

2011-05-27 IVE BEEN TRYING TO CONTACT THEM TO OPEN LIVE ACCOUNT FOR MONTHS

ARE THEY STILL IN BUSINESS

I HAVE A VERY GOOD EXPERIENCE TRADING DEMO GOOD EXCUTION BUT I WANT TO GO LIVE

IF U GUYS ARE STILL IN BUSINESS REPLY TO MY EMAILS
 
Rebuttal: Added by Alex on 2013-06-05 02:41
  It was your own decision to take on the additional leverage of 1:1000
Unfortunately your account was under capitalized and your strategy did not take into account the risk in the market properly.
Trade mark mistakes from a new trader. If you like we can introduce you to a trading coach that might be able to help you out of give you some pointers.
Did you ever contact us about issues with your trades? Please send us references to the trades you had in question. If you don’t bring those instances to our attention we cannot help you.
All of our orders go through a bridge directly to the market.
We never trade against our clients or use trading plugins.
We stand by our execution and the quality of fills.
The reason why we provide the higher leverage is to offer a product that clients are asking for. We are able to do so because we put up additional funds with our liquidity sources to support that additional leverage for clients.
We understand that clients don’t like losing money, but we do not appreciate it when you are blaming the broker for a poor trading strategy or trading choice. If you would like to offer people a clear perspective please feel free to post your trading record to back up your claims.

Mustang, , USA

Rating:
Date of Post:2013-05-07
Review: Response to Alex: Not one person responded to me same day. I trade on two other broker platforms and they did not experience any such problems due to holidays. Their price data was correct and spread was normal, while your data was wrong and spread was all over the place. You say the site was down due to updates however I received an email 48 hours later stating equipment failure. You guys are establishing a pattern here on FPA of blaming the News, Holidays, traders and everything else under the sun. I don't see you ever own up to anything. Each time I report a problem I get the same canned answer, "We are making upgrades to the servers" If you are truly committed to your clients I recommend owning up to your problems and mistakes, doing a better job of keeping your clients apprised to what is going on and what you are doing to remedy issues and putting in place some redundant equipment to avoid more down time in the future. It would be nice as well if you would push the banks you work with to get a better handle on their feeds so we don't need to see these wild swings in the spread and falsely painted candles on the charts.

2013-03-28 2Star These guys continue to be plagued by server issues and at the moment their website is down. The data feed for gold is way off and spread keeps fluctuating between 80 and 250! I can't reach anyone by email or phone, meanwhile my free margin is suffering. It's been several hours and I wonder if and when I will hear from anyone.

Comment: Added by Alex on 2013-04-14
Unfortunately during holidays such as Easter which are worldwide many of the banks streaming metals shut down. Due to a lack of liquidity clients may experience higher than normal spreads for metals and currency pairs during Holidays. You may not have been able to enter the site as we were upgrading our security settings on the site during that time. Our staff was a bit short due to the holidays however we were able to respond you on the same day. We remain committed to our clients. In the future we recommend paying closer attention to holidays and news announcements that may interrupt normal service and execution.
Kind regards,
Alex
 
Comment: Added by Alex on 2013-06-05 02:50
  We are sorry you feel this way. We have tried to remedy the situation for you, where we feel other companies might have walked away. If there is something else you would like that would help resolve your current situation please send an email to info@smarttradefx.com and we will try to accommodate that request as your satisfaction means everything to us.

Marius Fourie, Pretoria, South Africa

Rating:
Date of Post:2013-02-28
Review: I just want to give a follow up on my previous post. I made another withdrawal from Smarttrade FX this week. Same result as in January. Same day of my Forex account and within a week in my bank account. It looks like they are the real deal. Will recommend them to anyone. Thanks Micheal and Stephanie

2013-01-27 5Star We normally only get bad news in this day and age.
Here is some good news. I have been with SmartTradeFX for over a year now. I can only compliment them on their service. Support (Stephanie) and Account manager (Micheal) has been awesome on giving feedback if I needed any. E-mails get answered within an hour. Micheal even gave me a call to explain their new server. Execution on placing trades are lightning fast. No re-quotes. And then the main thing. Withdrawing of funds, I have put in a request for funds on the 7th of Jan 2013. The same day I received an e-mail to confirm my application. The same day the funds was out of my account and two days later in my bank account in South Africa. Everything we need from a broker. Thanks Micheal, Stephanie and SmartTradeFX

Warren, USA, USA

Rating:
Date of Post:2012-11-08
Review: Unexplained fluctuations in the spread. Server issues, terminal losing connection multiple times with no explanation. TP levels not being triggered. Being stopped out although price is several pips away from SL, then given the excuse that there was a lot of volatility but the same order on another broker experienced no such stop out from volatility.

This company used to be good at one time. Unfortunately due to greed or lack of a good and honest liquidity provider, they have fallen off the cliff.

Stay away if you value your hard earned money!
 
Rebuttal: Added by Alex on 2012-12-12 09:03
  Hello Warren,
We strive to provide a fair trading atmosphere for our clients. We are an ECN/STP and do not have a dealing desk or plugins to manipulate your trades. If you are trading news events we hope you understand the risk that comes with that territory. If there is anything we can do to help you out let us know and we will gladly examine your account and trade history.
Just contact our team at: support@smarttradefx.com
Thanks!
SmartTradeFX Team
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