The first desire to independently study the work of Smart Trade Group (https://smart-trade-group.com) appeared a little more than three months ago. In one of the online publications, the material of the Smart Trade Group review caught my eye. The experts did a great job and provided a thorough analysis of the forex broker’s activities.
A month after reading the material, I decided to open an account with Smart Trade Group and since then I have closed more than a hundred positions. Since I work on 4-hour charts, this is quite a sufficient amount of information for an objective assessment of the broker. I decided to draw up my conclusions about Smart Trade Group in the form of a small review. I hope it will help fellow traders learn about the broker first-hand.
Smart Trade Group Review
I’ll start with the registration data. Smart Trade Group is a young broker, the date of registration of the company’s domain is dated April 2021. The Onyx T-G brand is owned by Lencher ExPro. The company is based in offshore Saint Vincent. A license from the local finance committee was granted to carry out activities in the field of access for traders to trading on the currency and stock exchanges.
The official website is simple and for experienced traders, it is easy to understand the standard sections and tabs of the official resource of Smart Trade Group.
For new clients, a standard line of accounts is offered:
- Regular account;
- Islamic account;
- Risk-free account.
The latter should be discussed separately. You can read about this account in detail in the Smart Trade Group review, I will only outline the key points. The first deal of any trader, carried out in one lot, is under the protection of the broker. In practice, it turns out that the first position, if closed with a minus, will not damage the deposit. The broker closes it with zero, that is, the trader gets back the amount of his lot.
To participate in the risk-free transaction program, you need to make a deposit of two to ten thousand dollars. The feature is really useful, but as a rule, most beginners start with a sum of up to a thousand dollars.
Balance replenishment and withdrawal of money
Having studied the Smart Trade Group review, I was surprised at the lack of a choice of financial aggregators serving the deposit. For traders, only operations with bank cards of VISA systems http://www.visa.com/ and МС are available. I haven’t seen such a limitation in payment methods for a long time. Usually, they offer at least Neteller as an alternative. Let us attribute this fact to the fact that the broker is still a young company.
The focus of a forex broker on clients from Europe is expressed in the request for important documents for verification. So, to open an account you need to prepare:
- driver’s license;
- general civil passport;
- statement of a bank account indicating the address of residence;
- the last bill for payment of a mobile, loan or utility.
A typical set of documents will certainly not make it difficult for most traders to go through this procedure.
Forex broker offers additional passive income by attracting clients. Interaction is carried out using the CPA system. The partner gets access to a special account, where he monitors the transactions of attracted clients in real-time and sees the amount of his income. A personal manager is attached to each program participant.
Security of trading through a broker
The security of trading operations through a broker is ensured by the interaction of three systems:
At Smart Trade Group, this topic was sorted out in detail, with the involvement of data protection specialists. They argue that the above systems are quite enough for data safety and fast processing of trade operations.
Modern trading platform
To carry out operations to open positions on the exchange, the client gets access to the time-tested and reliable MetaTrader4. More than twenty active advisors are built into the terminal, and after the last update, 67 indicators are available. Among the indicators, a trader can find both proven (volumes, stochastics) and the latest developments.
You can trade on the stock and currency exchanges from one account, which is very convenient. There is no need to re-login to see the situation on different charts. In addition to the standard terminal, the following are available for customers:
- Version for a web browser that allows you to receive information about the status of current positions from any computer;
- Software for mobile devices that support Android OS and iOs;
- Application for Mac.
The user just needs to install the terminal from the official BC portal and spend no more than ten to fifteen minutes on personal lot settings and setting indicators.
The execution of orders is fast, no additional charts were found.
From the means of communication, there is only an e-mail address and a multichannel phone. Technical support communicates in English. There is no contact form via online chat on the official website.
It is also worth noting that we could not find information about the accounts of the brokerage company in popular social networks.
Smart Trade Group is very similar to a middle-class broker with a small number of deposit/withdrawal methods. Let’s hope that Smart Trade Group will develop and bring profit to its clients.
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