SmartSTP
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Pros and Cons
- Low spreads starting from 0.3 pips
- High leverage up to 1:500
- Regulated by FSC
- Wide range of trading instruments
- User-friendly WebTrader platform
- Limited educational resources
- No MAM/PAMM accounts
- Inactivity fee after 6 months
- Limited regulatory oversight
- No proprietary trading platform
Introduction to SmartSTP
SmartSTP is an online forex and CFD broker that has been making waves in the trading industry since its establishment in 2015.
The company has positioned itself as a technology-driven broker, offering traders access to a wide range of financial instruments through its advanced trading platforms.
This comprehensive review will delve into the various aspects of SmartSTP, providing traders with an in-depth look at what this broker has to offer.
Regulatory Compliance and Security
One of the most critical factors to consider when choosing a broker is its regulatory status. SmartSTP operates under the regulatory oversight of the Financial Services Commission (FSC) of Mauritius, with license number GB21027168.
While the FSC is not as prominent as some tier-1 regulators like the UK’s Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC), it does provide a level of oversight and protection for traders.
Implications of FSC Regulation
The FSC regulation implies several key protections for traders:
- Regular audits and financial reporting requirements
- Segregation of client funds from the company’s operational funds
- Implementation of anti-money laundering (AML) and know your customer (KYC) procedures
- Requirement to maintain adequate capital
Fund Safety Measures
SmartSTP emphasizes the safety of client funds through several measures:
- Segregated accounts: Client funds are held in separate accounts from the company’s operational funds
- Negative balance protection: Ensures that traders cannot lose more than their account balance
- Encryption: Use of advanced SSL encryption to protect client data and transactions
Trading Platforms and Tools
SmartSTP offers a range of trading platforms to cater to different trader preferences and needs.
The broker’s commitment to providing cutting-edge technology is evident in its platform offerings.
MetaTrader 4 (MT4)
The industry-standard MT4 platform is available at SmartSTP, offering traders a familiar and robust trading environment.
Key features include:
- Advanced charting capabilities with multiple timeframes
- Wide range of technical indicators and drawing tools
- Support for Expert Advisors (EA) for automated trading
- Customizable interface to suit individual trader preferences
MetaTrader 5 (MT5)
As an upgrade to MT4, the MT5 platform provides additional features and improvements:
- More timeframes and chart types
- Enhanced back testing capabilities for strategy development
- Economic calendar integrated into the platform
- Improved market depth and Level II pricing
WebTrader Platform
SmartSTP’s WebTrader is a browser-based platform that offers convenience and accessibility.
Notable features include:
- No download or installation required
- Compatible with all major web browsers
- Real-time quotes and one-click trading
- Access to account history and trading reports
Mobile Trading Apps
To cater to the growing demand for mobile trading, SmartSTP provides mobile apps for both iOS and Android devices.
These apps offer:
- Full trading functionality on the go
- Real-time charts and technical analysis tools
- Push notifications for market events and trade executions
- Secure login with biometric authentication options
Trading Instruments and Markets
SmartSTP offers a diverse range of trading instruments, allowing traders to diversify their portfolios across different asset classes.
The broker’s offerings include:
Forex
SmartSTP provides access to a wide range of currency pairs, including:
- Major pairs (e.g., EUR/USD, GBP/USD, USD/JPY)
- Minor pairs (e.g., EUR/GBP, AUD/CAD)
- Exotic pairs (e.g., USD/TRY, USD/ZAR)
CFDs on Indices
Traders can speculate on the performance of major global stock indices through CFDs, including:
- S&P 500
- NASDAQ
- FTSE 100
- DAX 30
- Nikkei 225
Commodities
SmartSTP offers CFD trading on various commodities:
- Precious metals (Gold, Silver, Platinum)
- Energies (Crude Oil, Natural Gas)
- Agricultural products (Coffee, Wheat, Sugar)
Cryptocurrencies
The broker has embraced the growing interest in digital assets by offering CFDs on major cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
Stocks
SmartSTP provides access to CFDs on individual stocks from major global companies, allowing traders to speculate on stock price movements without owning the underlying assets.
Account Types and Trading Conditions
SmartSTP offers several account types to cater to different trader profiles and experience levels.
Each account type comes with its set of features and trading conditions.
Standard Account
| Feature | Details |
|---|---|
| Minimum Deposit | $100 |
| Spreads | From 1.0 pips |
| Maximum Leverage | 1:500 |
| Commission | No commission |
ECN Account
| Feature | Details |
|---|---|
| Minimum Deposit | $1,000 |
| Spreads | From 0.0 pips |
| Maximum Leverage | 1:500 |
| Commission | $3.5 per lot per side |
Islamic Account
SmartSTP offers swap-free Islamic accounts for traders who adhere to Sharia law.
These accounts do not involve the payment or receipt of interest (swap) on overnight positions.
Demo Account
For traders who want to practice their strategies or familiarize themselves with the platforms, SmartSTP provides a demo account with virtual funds.
Deposits and Withdrawals
SmartSTP offers a range of payment methods to facilitate deposits and withdrawals:
Deposit Methods
- Bank Wire Transfer
- Credit/Debit Cards (Visa, MasterCard)
- E-wallets (Skrill, Neteller)
- Cryptocurrencies (Bitcoin)
Withdrawal Methods
Withdrawals are typically processed using the same method as the deposit.
The minimum withdrawal amount and processing times may vary depending on the chosen method.
Fees and Processing Times
| Method | Deposit Time | Withdrawal Time | Fees |
|---|---|---|---|
| Bank Wire | 3-5 business days | 5-7 business days | Varies by bank |
| Credit/Debit Cards | Instant | 3-5 business days | No fee |
| E-wallets | Instant | 24–48 hours | No fee |
| Cryptocurrencies | 1–3 confirmations | 1–24 hours | Network fee |
Leverage and Margin Requirements
SmartSTP offers competitive leverage ratios, allowing traders to control larger positions with a smaller capital outlay.
However, it’s important to note that high leverage also increases the potential for significant losses.
Maximum Leverage by Instrument
| Instrument | Maximum Leverage |
|---|---|
| Major Forex Pairs | 1:500 |
| Minor and Exotic Forex Pairs | 1:200 |
| Gold | 1:200 |
| Indices | 1:100 |
| Cryptocurrencies | 1:10 |
It’s worth noting that the actual leverage available may be subject to regulatory restrictions in certain jurisdictions.
Margin Requirements
The margin requirement is the percentage of the total trade value that a trader must have in their account to open a position.
For example, with 1:100 leverage, the margin requirement would be 1% of the total trade value.
Spreads and Commissions
The cost of trading is a crucial factor for many traders, and SmartSTP aims to provide competitive pricing through its spread and commission structure.
Spread Structure
SmartSTP offers both fixed and variable spreads, depending on the account type:
- Standard Account: Variable spreads starting from 1.0 pips
- ECN Account: Raw spreads starting from 0.0 pips, plus commission
Commission Structure
For ECN accounts, SmartSTP charges a commission of $3.5 per lot per side ($7 round turn).
This commission is in addition to the raw spread.
Average Spreads for Major Pairs
| Currency Pair | Standard Account | ECN Account |
|---|---|---|
| EUR/USD | 1.3 pips | 0.1 pips + commission |
| GBP/USD | 1.5 pips | 0.3 pips + commission |
| USD/JPY | 1.4 pips | 0.2 pips + commission |
It’s important to note that spreads can widen during times of low liquidity or high market volatility.
Additional Features and Services
SmartSTP offers several additional features and services to enhance the trading experience:
Copy Trading
SmartSTP provides a copy trading feature that allows traders to automatically replicate the trades of successful traders.
This can be particularly useful for novice traders or those who don’t have the time to actively manage their trades.
Trading Signals
The broker offers trading signals to help traders identify potential trading opportunities.
These signals are based on technical analysis and are provided by third-party signal providers.
VPS Hosting
For traders using Expert Advisors or algorithmic trading strategies, SmartSTP offers Virtual Private Server (VPS) hosting.
This ensures uninterrupted trading and faster execution speeds.
Economic Calendar
An integrated economic calendar provides traders with up-to-date information on key economic events and data releases that can impact the markets.
Education and Research
While SmartSTP’s educational offerings are not as extensive as some other brokers, they do provide some resources to help traders improve their skills and knowledge.
Educational Resources
- Trading guides covering basic and advanced topics
- Video tutorials on platform usage and trading strategies
- Webinars hosted by experienced traders
- Glossary of trading terms
Market Analysis
SmartSTP provides daily market analysis and commentary to help traders stay informed about market trends and potential trading opportunities.
This includes:
- Technical analysis of major currency pairs
- Fundamental analysis of key economic events
- Weekly market outlook reports
Customer Support
Quality customer support is crucial for a smooth trading experience, especially when dealing with financial matters. SmartSTP offers several channels for customer support:
Support Channels
- Live Chat: Available on the website for quick queries
- Email Support: For more detailed inquiries
- Phone Support: For time-sensitive issues or when personal interaction is preferred
Support Hours
SmartSTP provides customer support 24/5, aligning with forex market hours.
This ensures that traders can get assistance when the markets are active.
Multilingual Support
To cater to its global client base, SmartSTP offers support in multiple languages, including English, Chinese, Arabic, and Russian.
Mobile Trading Experience
In today’s fast-paced trading environment, mobile trading capabilities are essential.
SmartSTP recognizes this need and provides robust mobile trading solutions.
Mobile Apps
SmartSTP offers mobile trading apps for both iOS and Android devices.
These apps are designed to provide a seamless trading experience on smartphones and tablets.
Key features include:
- Full trading functionality, including opening and closing positions
- Real-time quotes and charts
- Advanced charting tools with multiple timeframes
- Push notifications for price alerts and trade executions
- Account management features
- Secure login with biometric authentication options
Mobile WebTrader
In addition to the dedicated mobile apps, SmartSTP’s WebTrader platform is fully responsive and can be accessed through mobile web browsers.
This provides an alternative for traders who prefer not to download an app or whose devices may not support the latest app versions.
Security Measures
SmartSTP places a high priority on the security of client funds and personal information.
The broker employs several security measures to protect its clients:
Data Encryption
All data transmitted between the client and SmartSTP’s servers is encrypted using 256-bit SSL (Secure Socket Layer) technology.
This ensures that sensitive information, including personal details and financial data, is protected from unauthorized access.
Two-Factor Authentication (2FA)
SmartSTP offers two-factor authentication as an additional layer of security for account logins.
This feature requires traders to provide a second form of identification beyond their password, typically a code sent to their mobile device, to access their account.
Segregated Accounts
Client funds are held in segregated accounts with reputable banks.
This practice ensures that client money is kept separate from the company’s operational funds, providing an additional layer of protection for traders’ capital.
Regulatory Compliance
While SmartSTP is regulated by the Financial Services Commission (FSC) of Mauritius, it’s important to understand the implications and limitations of this regulation:
FSC Mauritius Regulation
The FSC is the integrated regulator for the non-bank financial services sector and global business in Mauritius.
While it provides a level of oversight, it’s generally not considered as stringent as some top-tier regulators like the UK’s FCA or the EU’s CySEC.
Regulatory Requirements
Under FSC regulation, SmartSTP is required to:
- Maintain adequate capital requirements
- Submit regular financial reports
- Implement robust anti-money laundering (AML) procedures
- Follow strict know-your-customer (KYC) protocols
Client Fund Protection
While the FSC requires brokers to keep client funds in segregated accounts, it’s worth noting that Mauritius does not have an investor compensation scheme comparable to those found in some EU countries or the UK.
Traders should be aware of this when considering the level of protection afforded to their funds.
Trading Costs and Fees
Understanding the full cost of trading is crucial for any trader.
While SmartSTP offers competitive spreads, there are other fees and charges to consider:
Spreads and Commissions
As mentioned earlier, the cost structure depends on the account type:
- Standard Account: Wider spreads but no commission
- ECN Account: Tighter spreads plus a commission of $7 per round turn lot
Swap Fees (Overnight Financing)
For positions held overnight, SmartSTP charges or credits swap fees.
These fees are based on the interest rate difference between the two currencies in the pair being traded.
Swap fees can be positive (credit) or negative (debit) depending on the direction of the trade and the interest rates of the currencies involved.
Inactivity Fee
SmartSTP charges an inactivity fee of $10 per month on accounts that have had no trading activity for 6 months or more. This fee is deducted from the account balance until either trading activity resumes or the balance reaches zero.
Deposit and Withdrawal Fees
While SmartSTP doesn’t charge fees for deposits or withdrawals, traders should be aware that intermediary banks or payment processors may apply their fees.
It’s advisable to check with your bank or payment provider for any potential charges.
Account Opening Process
Opening an account with SmartSTP is a straightforward process, designed to get traders up and running quickly while also complying with regulatory requirements.
Steps to Open an Account
- Online Application: Fill out the online registration form with personal details, including name, address, and contact information.
- Account Type Selection: Choose between Standard and ECN account types.
- Questionnaire: Complete a brief questionnaire to assess trading knowledge and experience.
- Document Verification: Submit proof of identity (e.g., passport) and proof of residence (e.g., utility bill) to comply with KYC regulations.
- Account Approval: SmartSTP reviews the application and documents. This process typically takes 1-2 business days.
- Initial Deposit: Once approved, fund the account using one of the available payment methods.
Demo Account
For those who want to test the waters before committing real funds, SmartSTP offers a demo account.
This account comes with virtual funds and allows traders to familiarize themselves with the trading platforms and market conditions without financial risk.
Research and Analysis Tools
While SmartSTP’s research offerings may not be as extensive as some larger brokers, they do provide several tools to assist traders in their market analysis:
Technical Analysis Tools
- Advanced charting packages on MT4 and MT5 platforms
- Wide range of technical indicators and drawing tools
- Multiple timeframes for detailed analysis
Fundamental Analysis Resources
- Economic calendar highlighting key events and data releases
- Daily market analysis and commentary
- News feeds integrated into trading platforms
Trading Central Integration
SmartSTP provides access to Trading Central, a third-party provider of technical analysis and trading signals.
This service offers:
- Daily technical analysis for major currency pairs and other instruments
- Trading ideas with potential entry and exit points
- Multiple timeframe analysis from intraday to long-term
Social Trading and Copy Trading
SmartSTP offers social and copy trading features, allowing traders to follow and replicate the strategies of successful traders.
Copy Trading Platform
The copy trading platform allows traders to:
- Browse and select from a list of strategy providers
- View detailed performance statistics of potential strategies to copy
- Automatically replicate trades in real-time
- Adjust risk parameters and allocation
Social Trading Features
In addition to copy trading, SmartSTP’s social trading features include:
- A community forum for traders to discuss strategies and market insights
- Performance leaderboards showcasing top-performing traders
- The ability to interact with and learn from experienced traders
Pros and Cons of Trading with SmartSTP
As with any broker, trading with SmartSTP comes with its set of advantages and disadvantages.
Here’s a balanced look at the pros and cons:
Pros
- Competitive spreads, especially on ECN accounts
- High leverage options up to 1:500
- Wide range of trading instruments across multiple asset classes
- User-friendly WebTrader platform in addition to MT4 and MT5
- Copy trading features for those interested in social trading
- No deposit or withdrawal fees from the broker’s side
Cons
- Regulated by FSC Mauritius, which may not provide the same level of protection as top-tier regulators
- Limited educational resources compared to some larger brokers
- Inactivity fee after 6 months of no trading activity
- No proprietary desktop trading platform
- Limited research and analysis tools
Conclusion
SmartSTP presents itself as a competitive option in the online trading landscape, particularly for traders who prioritize low spreads and high leverage options.
The broker’s diverse range of trading instruments, coupled with its support for popular platforms like MT4 and MT5, makes it a versatile choice for many traders.
The WebTrader platform and mobile trading apps cater to the growing demand for flexible trading solutions, allowing traders to manage their positions on the go.
The inclusion of copy trading features also adds value for those interested in social trading or looking to learn from more experienced traders.
However, potential clients should carefully consider the regulatory aspect.
While regulation by the FSC of Mauritius provides a degree of oversight, it may not offer the same level of protection as some of the more stringent regulatory bodies.
Traders should weigh this against the competitive trading conditions offered by SmartSTP.
The broker’s educational resources and research tools, while present, are not as comprehensive as those offered by some larger, more established brokers.
This might make SmartSTP more suitable for intermediate to advanced traders who don’t require extensive educational support.
In terms of costs, the competitive spreads and commission structure are attractive, but traders should be aware of other potential fees, such as the inactivity fee, which could impact long-term or infrequent traders.
Ultimately, SmartSTP offers a solid trading environment with some strong features, particularly in terms of trading conditions and platform options.
However, as with any financial decision, potential clients should carefully consider their individual needs, trading goals, and risk tolerance before choosing a broker.
It’s always advisable to start with a demo account to fully evaluate the trading experience before committing real funds.
User Reviews
Frequently Asked Questions
What is SmartSTP and how does it work?
SmartSTP is an online forex and CFD broker established in 2015. It operates using a Straight Through Processing (STP) model, which means client orders are passed directly to liquidity providers without a dealing desk intervention. This can result in faster execution times and more transparent pricing. SmartSTP offers trading in various financial instruments including forex, indices, commodities, cryptocurrencies, and stocks through CFDs.
Is SmartSTP a regulated broker?
Yes, SmartSTP is regulated by the Financial Services Commission (FSC) of Mauritius. While this provides a level of oversight, traders should be aware that the FSC is not considered a tier-1 regulator like the FCA or CySEC. It's always important to understand the level of protection offered by a broker's regulatory status.
What trading platforms does SmartSTP offer?
SmartSTP provides access to several popular trading platforms: MetaTrader 4 (MT4) MetaTrader 5 (MT5) WebTrader (a browser-based platform) Mobile trading apps for both iOS and Android devices These platforms offer various features including advanced charting tools, multiple order types, and the ability to use automated trading strategies through Expert Advisors (EAs).
What are the account types offered by SmartSTP?
SmartSTP offers several account types to cater to different trader needs: Standard Account: Suitable for beginners with lower minimum deposits and standard trading conditions. ECN Account: Offers tighter spreads and faster execution, ideal for more experienced traders. Islamic Account: Swap-free account for traders who follow Islamic banking principles. Each account type has different minimum deposit requirements, leverage options, and trading conditions. It's important to review these details to choose the account that best fits your trading style and experience level.
What are the deposit and withdrawal options at SmartSTP?
SmartSTP offers several methods for deposits and withdrawals: Bank Wire Transfer Credit/Debit Cards (Visa, MasterCard) E-wallets (Skrill, Neteller) Bitcoin The minimum deposit is $100 for most methods. Withdrawal times vary depending on the method chosen, with e-wallets typically being the fastest. SmartSTP does not charge fees for deposits or withdrawals, but third-party fees may apply. It's important to check the most current information on the broker's website as terms can change.
Does SmartSTP offer negative balance protection?
Yes, SmartSTP offers negative balance protection to its clients. This means that traders cannot lose more than the amount they have deposited in their trading account. This feature is particularly important when trading with leverage, as it protects traders from owing money to the broker in case of significant market movements.
What kind of customer support does SmartSTP provide?
SmartSTP offers customer support through multiple channels: Email support Live chat on their website Phone support Support is available 24/5, aligning with forex market hours. While the quality of support can vary, they generally aim to address queries and issues in a timely manner. It's advisable to check their website for the most up-to-date contact information and support hours.
Does SmartSTP offer any educational resources for traders?
SmartSTP provides some basic educational resources for traders, although these are somewhat limited compared to some other brokers. Their educational offerings include: A glossary of trading terms Basic articles on trading concepts Some video tutorials However, traders looking for more comprehensive education may need to supplement these resources with external materials. It's worth noting that the depth and breadth of educational content can be an important factor, especially for beginner traders.
Resources
Our experts
This article has been written, edited and reviewed by the following members of our team:
Last update: September 10, 2025
