SMFX Review – Is SMFX Scam or Legit?
SMFX Review
SMFX is a Cyprus-based multinational brokerage platform run and administered by Scope Markets Ltd. With its STP execution model, it is fulfilling the needs of beginners as well as expert traders. In this SMFX review, I would try to figure out what this broker is offering to the clients.
SMFX is a reliable platform and its features can be utilized to trade in various markets such as forex, commodities, and indices market. In addition to this, Contracts for deposits (CFDs) are also available on the platform. Let’s move toward the other prominent features of SMFX.
Trading Platform
MT4: Like most of the other good brokers, SMFX is also using MetaTrader 4 as its base. But the main difference that differentiates this broker from the others is the way it has molded the MetaTrader 4 in its favor. It is a web platform that enables users to utilize all its features without even downloading a single megabyte.
Compatibility: Another important advantage of its web platform is that it is compatible with all kinds of modern devices. When the first time I visited this platform I did it on a mobile. Right now, while I am writing this review, I have opened it on the chrome browser on my laptop. On both devices, I enjoyed the same performance.
Supports EAs: Some traders have enough money to invest but they don’t have time. Such traders rely on Expert Advisors (trading robots) to execute their trades. SMFX platform supports all the reliable EAs available in the market and they work smoothly on this platform.
Tutoring of Clients
Like all other reliable brokerages, SMFX has also acknowledged that the training and education of traders are essential. Although it keeps providing them with an economic calendar, news, and insights but a trader must have a strong command of the basics of trading. For this reason, the broker is imparting knowledge through its video courses which cover all the crucial topics regarding the forex market and trading in general. It means that you don’t have to pay fees to some third party as your broker would provide you with material free of cost.
Deposits and Withdrawals
Most of the new traders as well as experienced traders (while shifting from one broker to another) become paranoid about the deposit and withdrawal of their investment. SMFX is providing plenty of options in this regard as it accepts wire transfers, credit cards, and online payments. These options can be used for depositing as well as withdrawing money too.
The minimum deposit a client can make in one transaction is 100 dollars. There is certainly no deposit fee being charged by the broker at the time of writing. In case of withdrawals, the broker grants two free withdrawals every month and the rest of the transactions are charged a 35 dollars fee.
Customer Support Services
This is a feature through which a trader can easily measure the sincerity of a broker for his clients. If a broker is not paying attention to its clients then it means that he will leave you to dry any time soon. The customer support services of SMFX look perfectly fine. When I contacted them to measure the response time, I became pretty satisfied.
The customer support team of SMFX broker remains available 24/7 through online channels while the offices remain open on working days only. You can contact the broker by filling out the contact form as well as by sending an email. The representatives of the broker will be at your service in the best possible manner.
Final Remarks
Surely I am bound by the word restriction which is why I cannot cover all the features of SMFX but I can say that it is a broker which will satisfy your needs completely. This is a reliable, trustworthy, and transparent broker and you can trade with it without any hesitation. I have provided my stance and now I leave the final decision to you.
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