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SMIMarkets Review – Everything That You Need to Know

SMIMarkets Broker Rating
  • 9.3/10
    Overall Rating - 9.3/10
9.3/10

Summary

SMIMarkets is undoubtedly one of the best online brokers for trading commodities, indices, forex currencies, and stocks. If you are considering the best brokers to sign up with, there is no reason why you should not give this broker a shot.

SMIMarkets Review

SMIMarkets logoThere is nothing wrong with looking for the best broker if you are looking to start your career in trading. In the modern world, people have plenty of opportunities of making money from the comfort of their homes. However, there are only some methods that can generate enough income for them to change their lives, and trading is one of those methods. It is true that you can only benefit from trading if you choose the right broker. In fact, saying that you need a right broker wouldn’t be enough. You need the best broker there is for all your trading needs.

Among the many options you have available today in terms of online brokers, you have SMIMarkets as one of the best. Whether your concern is safe trading, flexible trading, or huge leverages, this broker has you covered. It provides you with access to financial markets from around the world through many different assets that you can choose from to match your trading style. With this broker, you have enough opportunities to make the profits that you aim to make because this broker will help you in every way possible to facilitate you as a trader. So, if you are considering signing up with this broker, read this complete SMIMarkets review.

SMIMarkets

A Basic Introduction to SMIMarkets

The first thing you have to know about this broker is that is going to provide you with CFD trading. This particular type of trading has gotten some real traction around the world because of how easy it is and the opportunities it offers to the traders. When you trade in the conventional markets using traditional methods, you can’t really make a lot of money. When you trade through CFDs, you can enjoy some leverages on your trades. Leverages allow the size of your trade to be increased significantly. Since the size of the trade increases, you also get huge profits if you are successful with your trades.

You are going to love the fact that you will be in many financial markets at the same time when you sign up with SMIMarkets. This broker is going to give you access to the trading platform that you will be using to trade forex currency pairs, indices, stocks, commodities, and just about any asset that you can think of. And since you have leverages available on your trades, you can increase your profits exponentially. Do make sure that you perform proper analyses before you trade because any mistake that you make can end you up with a loss as well. And when you have leverages on your trades, the loss can also double.

Do not worry about such losses when you sign up with SMIMarkets though. This broker is going to provide you with all the knowledge and trading strategy possibilities to minimize your losses. When you enter trades, you can use hedging, stop loss and many other trading strategies to keep your losses to a minimum. That best thing is that the broker will allow you to use these strategies with convenience. On the other hand, many other online brokers do not even allow these strategies to their traders.

Customer Service That Has Won Awards

You usually do not see any mention of the customer support from the broker until you reach the end of the review. That’s what most online reviews do. They treat customer support as something less important, when it is the most important part of any service that you are receiving online. When you sign up with a broker, you need the help of its professionals on many occasions. Think about a situation where your trading platform runs into a glitch. What if you end up being a part of a trade that you never wanted to execute? Well, you have to have professionals who can help you with these issues. That’s where SMIMarkets makes a huge difference.

This broker has some knowledgeable professionals who can help you with all your issues related to trading and the trading platform as soon as you contact them. You will be glad to be a trader with a broker that has won awards for its customer support. The most important thing about the customer service from this broker is that you have the professionals ready to help you at any time of the day or night. With most online brokers, you have the customer support available during the working days only. If you run into a problem during the weekend, you can’t expect any help to arrive.

On the other hand, SMIMarkets has made arrangements for its professionals to help you 24/7. That’s not it. The broker has gone the extra mile in providing you with customer support in more ways than you can realize. For example, you have the live chat support on the website. As soon as you land on the website, you will be greeted by a professional who is willing to provide you with answers to your questions instantly. In addition to that, you can send an email to the broker to get help with your account and trading related queries. You can also call the broker to get instant answers to your queries.

SMIMarkets trading education

Get Educated on Trading

Get the education you deserve before you start trading. You have just about every broker providing you with a lot of training material so you can learn trading before you start it. However, you cannot always rely on the content that you are being provided by the online broker. Sometimes, they have this content for years. They don’t update the content and what you end up reading is something that was applicable many years ago. For example, many online brokers still do not have any section or ebook included in their online training material about cryptocurrency trading. You really cannot expect anything good out of training material that does not contain anything on cryptocurrency trading.

In addition to that, you will usually find training only when you sign up with the broker with at least the basic account. When you sign up with a paid account, that’s when you get access to the training material. On the other hand, you will find a lot of things different with this broker. With SMIMarkets, you have access to the training material even before you sign up with the broker. There are many pages on the website that teach you the basics of trading and a lot about forex trading. In fact, you can read some helpful material on why you should be trading.

Trading Environment for Traders

When you sign up with a broker, the first thing you have to take a look at is the trading environment. Trading environment tells you whether you will be able to survive the policies, regulations, and restrictions from the broker or not. In many cases, you will see brokers that have a lot of restrictions on how you can trade with them. Furthermore, they make a lot of things difficult for the trader only because they are greedy for money. For example, they charge you in the form of spreads, and then they charge you in the form of commissions and hidden fees as well.

If you have signed up with the right broker, you will not have to deal with such things. You will never have to pay for anything that you don’t have to pay for. When you trade with SMIMarkets, you will see some of the tightest spreads in the industry. You will be able to trade a lot of assets with really tight spreads. What makes things better with SMIMarkets is that you will only be paying the broker in the form of spreads. So, you will know at every moment how much money you are going to pay to the broker from the profits you make on your trades.

You will not have to worry about any commissions and unnecessary fees on your trading activity when you sign up with SMIMarkets. It does not matter which assets you want to trade with SMIMarkets, you will not have to pay for anything that you don’t think you should pay for. That’s how brokers create environments that traders can love and prosper in. With a broker like SMIMarkets, you can think about keeping on with your trading career and becoming a professional trader at some point in your life.

Trade Many Assets of Your Choice

You should always look for a broker that’s friendly to you not only in your beginning years but also in your later years of trading. When you start trading, you are looking to create a way of income in your life. You want this stream of income to continue for life. However, to do that, you have to make sure that you sign up with a broker that creates reasons for you to keep trading.

When you are new into trading, you want to experiment with different types of assets so you can find the ones that are most suitable to your trading style. At the same time, your exploration will allow you to discover assets that are not very risky. However, to do that, you have to have a lot of assets available for you to trade. That’s where your broker comes in. If you have signed up with the right broker, you will get enough options to choose many and leave many. You will have the option to pick assets that suit your trading style and leave the options that you think are very risky for you.

That’s where a broker like SMIMarkets makes the most sense. With this broker, you have more options on the table than you have with most other brokers on the internet. You are not bound to a particular market with this broker. Whether you find it easy to trade currency pairs or consider stocks to be the best vehicles for trading, you will find them all with this broker. You can trade currency pairs that are not limited to only the major ones. With this broker, you can enjoy trading exotic and minor currency pairs in addition to major currency pairs and cryptocurrencies.

SMIMarkets assets

In addition to that, you will be able to trade commodities that come from many parts of the world. If you are interested in trading gold, you will not have to go anywhere because you can trade gold and many other precious metals with this broker, such as silver, platinum, palladium, and more. You can also trade energies like crude oil and gas. Furthermore, you will be able to trade indices. When you trade indices, you are trading many different stocks belonging to many different companies at the same time. This is the type of asset index that you should expect from your broker.

As a new trader, it gives you confidence that if you were not successful with a particular asset, you can try another one. On the other hand, if you are an experienced trader, you will find the perfect opportunity to diversify your portfolio to not only show that you understand the tactics of trading but to also distribute your losses across many assets to minimize them.

The Five Amazing Trading Accounts

There are five different accounts types that you have at your disposal with this broker. You have other brokers that can provide you with even more options when it comes to trading accounts. However, having more accounts is not always a good idea. For example, when you have six or even seven trading accounts, you are lost in the choices. You just can’t figure out which trading account you should pick.

That’s when a broker like SMIMarkets comes in. SMIMarkets has designed its trading accounts intelligently. They are there not only for the sake of being there.

In fact, when you look at the trading accounts from this broker, you will realize that they have been created with many types of traders in mind. So, you have an account designed for new traders, and that’s called the beginner account. In this account, you will get lots of features, but at a basic level.

What’s admirable about this account is that you don’t have to deposit a lot of money to start it. If you are a new trader who is only looking to test things before putting his/her money on the line, you should consider this account.

You can start trading with this account by depositing only $250 in your account. Even with this small amount, you will be able to trade very small lots of assets, starting from 0.01. If you are looking to trade currency pairs, you have fifty of them that you can trade with this broker without any problems, even with this basic account. You can deposit money in your account using three different currency types, which are GBP, EUR, and USD. In addition to that, you have the Islamic account feature available with this account as well.

You will enjoy trading with other accounts as well because there are some great features included in them. You can start trading with the Standard account by depositing only $500 in your account. Again, you will get access to all the assets that are on the asset index of the broker. In other words, you will be missing out on nothing even if you go with the basic accounts from this broker. However, if you want to go with something special, you have the gold, diamond, and VIP accounts.

The spreads, when you sign up with these accounts, will get tighter and tighter. In simple words, you will be increasing your profits on your trades because there will be less money going out of your pocket. Do keep in mind that you can start an Islamic account regardless of the type of account you sign up with when you are with this broker.

Spreads and Leverages

How much you enjoy trading with a broker depends a great deal on the leverages and spreads that you have to deal with. When you sign up with a broker that provides you with CFD trading, you are able to apply leverages on your trades. Leverages are contributions directly from your broker allowing you to trade when you don’t have enough money in the account to enter a trade. You will usually use them to increase your profit margins and to enter trades that are otherwise not possible with the money you have in your account. With this broker, the more you rise up in the account tiers, the bigger your leverages get.

With even the basic account, you have leverages of 1:100 on many assets. If that does not sound enough to you, then you can go with the standard account. With this account, you will enjoy leverages of 1:200 on your trades. It is amazing how your leverages continue to increase with every next account in the list. The highest leverage that you can enjoy with this broker is of 1:400. What this means is that for every dollar that you invest in a particular trade, your broker will be investing $400. You can already imagine how big of a trade you will be able to afford when you have such huge leverages on your trades.

Things are even more exciting with this broker when you look at the spreads. Tight spreads from the broker mean you will earn the major part of the profit you make on your trades. When you go with the basic and standard accounts, you will have to deal with variable spreads. However, things will get quite interesting as soon as you move to the gold account. With all the accounts other than the basic and standard, you will have some amazing spreads. You will have gold spreads with the gold account and VIP spreads with the VIP account. In other words, you will not find any other broker that can offer you such amazing spreads when you trade.

SMIMarkets trading platforms

 

The Trading Platform That Rules

The trading platform from this broker is probably the best you can find with any other online broker. You will find this trading platform everywhere you are. The broker has paid attention to the needs of every trader, even if they are in a minority. So, the traders who have been trading for many years are still comfortable trading with traditional methods. If you see them trading, you will often find them sitting in front of their desktop computers. For them, the broker has arranged for its trading platform on the desktop as well. You can download the trading platform and use on your desktop without any issues.

Furthermore, you have the mobile version of the trading platform as well. Do you carry a tablet with you? Would you like your trading platform to be available on your tablet? If yes, you will love the trading platform from SMIMarkets. This trading platform will work smoothly on your tablet. And to make things even better, the broker has also designed the mobile version of the trading platform. This trading platform can be downloaded on your mobile devices and used conveniently. The best part is that you will not have a problem using it on your Android as well as iPhones.

Last but not least, the broker has a web trader available for its traders. This trading platform runs on any computer, laptop, tablet, or smartphone without any compatibility issues. You access this trading platform like you access any other website. It is there for you no matter which device you are on and which part of the world you are trading from.

Final Thoughts

There is a lot more that you can know about this broker. It has KYC policy to recognize every single trader on its platform so no one can sign up with stolen information. It also has AML policy in place to prevent any money launderers from using its trading platform for storing their looted money. SMIMarkets is undoubtedly one of the best online brokers for trading commodities, indices, forex currencies, and stocks. If you are considering the best brokers to sign up with, there is no reason why you should not give this broker a shot.

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