In this SmartSTP review, we are going to be looking at what the broker has to offer to traders. Specifically, we are going to be looking at the regulatory status, the fees involved, the assets offered, and the trading platform available to clients.
74-89% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Basic Information About SmartSTP
- Website Address: smartstp.com
- Instruments: CFDs- Forex, commodities, indices, stocks, and cryptocurrencies.
- Minimum Deposit: No minimum deposit.
- Demo Account: No.
- Trading Platform: SmartSTP WebTrader.
- Methods of Deposit and Withdrawal: Visa, MasterCard, Skrill, and Neteller.
Trading Platform of SmartSTP
SmartSTP promises to provide its clients with trading platforms with robust functionality. This is very important as the trading platform a trader uses can make or break his trading experience. This is because the speed of the trading platform can determine whether a trader misses out on a trading opportunity. Moreover, there are many other functionalities that come loaded into a trading platform.
On the SmartSTP trading site, traders have access to the SmartSTP WebTrader platform with fast order execution. On top of that, the platform comes with rich analytical tools to allow people to trade a variety of assets with flexible conditions. Notably, users can customize the analytics to ensure the insights they get best suit their trading strategies.
Further, clients can open and close orders with one click, check their trading history and account balance in real time, and get access to multilingual support. These features are crucial in helping elevate the trading experience of a trader. Furthermore, this trading platform is web-based. This means that traders do not have to do any installation. It is available for all kinds of users including those on PC, mobile, and tablets.
Available assets on the SmartSTP Trading Platform
Traders are always looking for a forex broker that offers access to various trading instruments under one platform. Luckily, that is what they find with SmartSTP. This broker site offers its clients access to a variety of CFDs including on:
- Forex – SmartSTP offers traders a variety of currency pairs o invest in. Investors have access to majors, minors, and even some exotic pairs.
- Commodities – This broker site also allows its traders to buy and sell a variety of commodity CFDs. These include CFDs on energies, gold, silver, and agricultural products, among others.
- Indices – Under this asset class, traders gain access and exposure to a broad range of market sectors. They have access to markets such as NASDAQ, FTSE100, and Nikkei225, among others.
- Stocks – Equity provides a collection of stocks from some of the most famous companies in the world for traders to purchase. These include stocks from Google, Tesla, Facebook, and Amazon, among others.
- Cryptocurrencies – Equity gives traders access to some of the most popular crypto CFDs in the market. These include CFDs on Bitcoin, Ethereum, XRP, Litecoin, and others.
SmartSTP Fees and Spreads
The fees that an investor pays when trading can shape their trading experience. No trader wants to pay exorbitant fees when trading. The primary charge on SmartSTP is the spreads that apply to the different asset classes. Notably, the spreads on this broker site are a touch high compared to some other reputable brokers in the market.
The spreads for trading major currency pairs on this broker site start from as low as 2.6 pips on the Silver account. However, traders can access slightly lower spreads on the Gold and Platinum accounts. The Gold account gives clients a 25% discount on spreads featured on the Silver account. On the other hand, the Platinum account gives an even higher discount of 50% on the spreads.
Another charge that applies when trading with this broker is swap fees. This is paid to fund positions held overnight. However, there is an Islamic account present for Muslim traders who cannot pay swap fees due to religious beliefs. Additionally, traders can receive a 25% discount on swap fees on the Gold account and a 50% discount on the Platinum account.
SmartSTP Customer Support
Customer support is one of the most important features of a company. Customer support is especially crucial in a company that handles people’s funds. From time to time, clients might have issues that need resolution with the help of the company. When that time comes, clients want to know that they can reach the support team without any issues.
Luckily, SmartSTP has various channels which traders can use to communicate with the support staff. There are several telephone numbers that clients can use to call the company in various jurisdictions. These include local numbers in the UAE, Switzerland, Bahrain, Qatar, Saudi Arabia, Kuwait, and Oman. Additionally, clients can send the support staff an email via the address, support@equiity.com. Finally, they can stay in touch with the company at all times via the live chat function.
SmartSTP Credibility
When looking at the credibility of a company, there are two main things to look at. These include the regulatory status of the company and the online customer reviews by people who have used the company’s services. Positively, SmartSTP is regulated and supervised by one of the most reputable organizations in the world, the CySEC. This regulatory body operates from Cyprus and its license applies across Europe.
On top of this regulatory status, SmartSTP also enjoys great reviews online. On Trustpilot, the company has a remarkable 4.6-star rating out of 5. While this rating is only from a few people, it still shows that the majority of people using the company’s services enjoy it. Moreover, SmartSTP responds to most customer reviews whether positive or negative. As such, people with negative experiences can receive support in resolving any problem they may have.
The Conclusion of Our SmartSTP Review
SmartSTP is a fairly new broker that competes relatively well with other established brokers in the market. With this trading platform, traders have access to over 350 different trading instruments in a variety of markets. While the spreads are a touch high, traders can receive a discount when trading on the Gold and Platinum accounts.
This broker is regulated by the CySEC, a top market regulator. This organization is very strict and hands out licenses only to brokers that follow financial laws. Nonetheless, the broker still has a long way to go to properly establish its name in the market. If it continues to offer quality services, it will only be a matter of time before it is a household name.
I had a few questions and received prompt assistance from a support agent who guided me through each step clearly. The platform feels transparent, and it’s reassuring to see that payouts are processed efficiently and without hassle.