Smart FX Vest

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Smart FX Vest, a trading name of Smart FX Vest Limited, is allegedly a forex and CFD broker registered in Saint Vincent and the Grenadines that claims to provide its clients with various tradable financial instruments with leverage up to 1:1000, floating spreads from 0.5 pips and commission-free via 3 different live account types, as well as 24/5 customer support service. Here is the home page of this brokers official site:

As for regulation, it has been verified that Smart FX Vest currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.27/10. Please be aware of the risk.

Market Instruments

Smart FX Vest advertises that it offers access to 250+ trading instruments, which include Forex, CFDs on Shares, Futures, Indices, Metals & Energies.

Account Types

Smart FX Vest claims to offer 3 types of trading accounts - Classic, Pro and ECN, with minimum initial deposit requirements of $100, $500 and $10,000 respectively.

Leverage

Smart FX Vests website claims to offer leverage capped at 1:1000. However, from the information on the account types, we found the leverage is flexible between 1:1 and 1:500. Specifically, 1:1-1:500 on the Classic account, 1:1-1:400 on the Pro account and 1:1-1:100 on the ECN account. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commission

All spreads with Smart FX Vest are a floating type and scaled with the accounts offered. For example, the spread starts from 2.0 pips on the Classic account, from 1.20 pips on the Pro account and 0.5 pips on the ECN account. Any type of account is free of commission.

Deposit & Withdrawal

Smart FX Vest says to work with numerous means of deposit and withdrawal choices, consisting of MasterCard, Visa, WeChatPay, SoFortüberweisung, American Express, Giropay. Ideal, Maestro, JCB, China Union Pay, Skrill, Neteller, Webmoney, Yemadai, Local Deposit and International Deposit. The minimum initial deposit requirement is said to be $100. There are no deposit and withdrawal fees charged.

As for the processing time of deposits and withdrawals, 2 hours for SoFortüberweisung, Giropay and Skrill; 3-5 working days for Webmoney and Local Deposit; 5-7 working days for International Deposit; and instant for other deposits and withdrawals.

Customer Support

Smart FX Vest‘s customer support can be reached by email: support@SmartFxVest.com, live chat or send messages online to get in touch. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most transparent brokers offer.

Pros & Cons

Frequently Asked Questions (FAQs)