SmartSTP

SmartSTP Information

SmartSTP, short for MRL Investments (MU) Ltd, is an unregulated brokerage company registered in 2018 in Mauritius and operates in 15 countries currently. The broker offers a comprehensive range of trading products to its clients: commodity, forex, indices, stocks, metals and cryptos. It requires a minimum deposit of $250 and 3 tiered accounts, along with an Islamic account available for each account. The platform the company use is called “SmartSTP WebTrader” which features basic functions and is accessible via web.

Pros and Cons

Is SmartSTP Legit?

The broker operates without any valid supervision from any regulatory authorities. It raises a question about its legitimacy and credibility because regulated brokers usually adhere to strict industry standards to protect customer funds.

What Can I Trade on SmartSTP?

SmartSTP provides access to a wide range of market instruments including commodity, forex, indices, stocks, metals and cryptos. You can expand your trading portfolio and seize abundant market opportunities to possibly achieve substantial returns on your investments.

1. Commodities: Diversify your portfolio with essential commodities like precious metals such as gold, silver, as well as energy products like oil, etc.
2. Forex: Trade global currencies to capitalize on the dynamic forex market. Popular and most traded pairs include EURUSD, AUDUSD, etc.
3. Stocks: Invest in shares of top companies to leverage market trends such as Apple, Amazon, Tesla, etc.
4. Indices: Gain exposure to specific sectors or regions through market indices.
5. Cryptocurrencies: Trade digital currencies like Bitcoin and Ethereum, tapping into the evolving crypto landscape.

Always follow the rule of investment and scatter risks by putting money in different products instead of only one that you are optimistic about.

Account Type/Leverage

SmartSTP does not provide demo accounts for testing and practicing as many other brokers, which is a drawback. But there are three tiered live accounts for customers to choose from according to their financial capacities and experience levels.

First comes with the Silver account which is said to target beginners who just enter the investment market. It features leverage of up to 1:200 while there is no discount on spread and swap.

Gold account, claimed by the broker, is suitable for advancing traders who want more opportunities and faster trading pace. Leverage is the same across all accounts as 1:200, but there is 25% discount on spread and swap, which is a slighter advantage over Silver account.

Platinum account, on the other hand, is for vetran traders with rich trading experiences and intensive trading frequencies. It offers a 50% discount on spread and swap, a great preferential for this group of traders.

The minimum deposit is $250, higher than the industry average.

Furthermore, an Islamic account with no night rollovers or interest charges for overnight positions is available for each account. Those who need to comply to Sharia-laws can choose to open an Islamic account to adhere to their religious principles.

Trading Platform

SmartSTP offers a proprietary trading platform called “SmartSTP Webtrader”. The platform can be accessed via browsers on PC and mobile devices without needing to download or install additional software. You will gain real-time access to in-platform support, flexible order types and rich analytic tools.

The platform's charting technology is powered by TradingView who offers rich toolkit for markt analysis such as customs charts, indicators, etc.

The broker claims they will develop an App version of the platform for better customer experience.

Deposit & Withdrawal

SmartSTP accepts several ways for funding: Credit and Debit Cards, SEPA (Single Euro Payments Area) and SWIFT Wire Transfers.

Moreover, the broker does not require minimum withdrawal amount except for wire transfer, meaning you can withdraw any amount of your account balance, regardless of how small it may be. With wire transfer, the minimum withdrawal requirement is $50.

Customer Support Options

If you want any help or support from SmartSTP, you can reach them through email, social platforms, live chat.

In addition, a contact form is also available on its website. You can fill in your contact info on its website and wait for their representatives to call you or email you.

Or you can call their offices across 15 countries. Details can be further found in https://www.smartstp.com/en/contactus.

The Bottom Line

In summary, SmartSTP offers a wide range of trading products and tiered account for different group of clients. However, the absence of regulation indicate less compliance to industry standard and customer protection. Furthermore, the high initial investment requirement hinders those with limited capital. But those experience traders with intensive trading might like this broker due to substantial discounts on spread and swap.

No broker can fit all customers, the one most suitable for you is the best for you. Weigh all the pros and cons basing on your own condition to make wise choice before commiting actual funds to any broker.

FAQs

Is SmartSTP safe?

Not really, the broker is not currently regulated by any authorities.

Is SmartSTP good for beginners?

No, not only because it's not regulated, but also because of its high minimum deposit requirement from $250.

What trading platform does SmartSTP have?

SmartSTP offers a proprietary trading platform available on web.

Are there any restricted areas of SmartSTP's services?

Yes, SmartSTP does not offer Contracts for Difference to residents of certain jurisdictions including the USA, lran, Canada, lran, lraq, North Korea.

Risk Warning

Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.