SMFX review and tutorials


Detailed SMFX Review 2021: Forex, CFD'S and Crypto Regulated Broker

Overall, the SMFX Analysis shows us a broker with versatility in terms of trading environments, options between account types and execution models, all of which offer you comfort in your overall trading experience.

What’s SMFX?

SMFX is a trading name used by the broker which operates at two locations, one of which is an offshore company, Scope Markets Ltd, located in Belize, and the other is SM Capital Markets Ltd, a registered brokerage in Cyprus.

The Cyprus company also runs a range of websites, including and, providing similar trading services more or less. We will take a closer look at the general SMFX package, but the terms of the rating differ depending on the company offers and your location.

SMFX has maintained the operation as a trading dealer since 1997 so since then it has acquired favorable trading conditions while fully knowing the required criteria for traders. SMFX operates a No Dealing Desk or STP execution model that is a basic, but sophisticated enough trading environment suitable either for beginners or professional traders.

SMFX website

List of 10 Points

  1. SMFX is a multinational broker based in Belize and Cyprus that may offer slightly different terms and conditions under the Regulation that it imposes.
  2. Reputable broker with long years of operations and regulatory obligations levied by the CySEC and the ESMA
  3. The number of instruments available for trade, including CFDs on Commodities, Forex, Metals, Indices and Energies
  4. Offered demo account
  5. Min. deposit – $100
  6. Trading costs are low
  7. MT4 trading platform
  8. Trading tools and research materials built into the platform
  9. Education is not offered
  10. Customer support available during business hours

Is SMFX secure or is it a scam?

As we described in our SMFX Review, SMFX is a brand that operates in two locations, including Belize and Cyprus. While the registration at Belize does not really provide clear conditions that are necessary to ensure a safe trading environment, CySEC, being a European authority, sets numerous standards.

All in all, it will bring you a clear state of mind as SMFX is constantly overseen by brokers, and by those who set their business model together with the safety measures verified by MiFID.

How are you being protected?

Thus, being in accordance with the EU ESMA Regulations, SMFX gives you confidence about its security conditions and the measures applied to the manner in which your orders are handled, as well as the money used.

In addition to professional support, SMFX Customer Support also ensures the highest level of safety security for you. In addition, a CySEC controlled broker guarantees the segregation of assets at all times and protection by insurance funds in the case of business insolvency.

sm capital markets ltd license


When trading with SMFX, you will be allowed to use leverage, a great tool allowing you to increase your trading size a given number of times. As a European broker, traders will automatically comply with the ESMA leverage restrictions. You will not be able to access high leverage as regulators lower leverage ratios to a maximum of 1:30 for major currency pairs and lower for other instruments.

However, since SMFX operates an entity in the offshore zone that is available to international clients, higher leverage will be available to you if you open an account under this jurisdiction. But always be careful about the use of leverage, as with its magnifying potential risks are also increased.


SMFX blends trading features with a wide range of products and quite competitive pricing, along with options of three account types.

Types of Account

SMFX offered accounts are Standard, VIP and ECN one where the conditions vary as feature better cost wise as long as the account is of higher rank. The ECN account is a different price model where the prices are included in the fee, which means that you will see the interbank raw spread on your order and will pay the commission per transaction.

SMFX account types


Our find on CFD fees

SMFX spreads are clearly defined by the type of account you use, therefore the Standard account spreads start from 1.8 pips, VIP already lowers it to 1.3 pips and ECN spreads start from 0 pips, thus charges are combined to a commission of $3.5 per side.

Some more examples of typical spread you can see below, while we generally found low and average fees compared to the competition.

Trading Fees of SMFX vs Similar Brokers

Asset/ PairSMFX FeesAvaTrade FeeseToro Fees
EUR USD1.8 pips1.3 pips3 pips
Crude Oil WTI4 pips3 pips5 pips
Gold2.7 pips4045
Inactivity FeeYesYesYes
Fee rankingAverageLowHigh

Here is a snapshot of SMFX fees

forex trading conditions

Market Instruments

Through a low-latency approach, SMFX provides the existing market with tight spreads and access to assets such as FX, Metals, Energy and Indices. The selection of sponsored Currency Pairs is a strong one, where you will find major, minor and exotic pairs, Leading Shares, Commodities and binary options available on an international offering. However, remember that the ECN trading account does not support trading indices, so always check info with the support center.

trading assets

Deposits and Withdrawals

You may use proven methods to deposit or withdraw funds so that the transfer is convenient and safe.

Tools for Deposit

  • Credit/debit card
  • Transfers via banks

Available for the Cyprus entity, you also need to consult with customer service in case of alternative options available according to your area, as long as the foreign branch provides far more deposit methods. Terms and payment options may also vary depending on the SMFX agency with which you open an account.

What’s the minimum deposit for SMFX?

The minimum deposit is defined by the type of account. The minimum amount for the first grade account is set at $100 where the costs are included in the spread.

SMFX funding methods


Usually, SMFX does not charge funding fees, but payment providers can re-add those fees according to jurisdiction or international rules. In the case of withdrawals, SMFX allows 2 requests per month free of charge, while additional requests will be charged $35 or equivalent.

How do I withdraw money from SMFX?

  1. Login to your account and pick Withdraw Funds
  2. Fill in the withdrawal form and enter the withdrawal amount
  3. Choose the method of payment
  4. Complete the needed form requirements and confirm the terms of the form.
  5. Submit details of withdrawal

Usually, SMFX confirms withdrawals within 1-2 business days, so it’s not a very long process to withdraw money from SMFX. Nonetheless, please allow additional days to be taken by your payment provider to process the transaction.

Trading Platforms

As a majority of brokers, SMFX is a mainstay at market leader MetaTrader4. MT4 is the most common platform used by both beginners and professionals due to its user-friendly yet powerful features, various add-ons and great charting packages.

Web Trading Platform

MetaTrader Web Trading will offer you all the advantages and powerful capabilities without any download or hustle, just go to any internet browser and sign in to your account. Its flexibility is one of the main points why MT4 Webtrader is widely regarded and used by different traders, where you’ll find basic tools and capabilities that are essential for everyday trading.

Desktop Platform

However, advanced traders would prefer to use the desktop version as it features much more configuration capabilities and tools that are appropriate for any iOS or Windows operating system.

Moreover, MT4 provides EAs – expert advisors in the form of the best automatic trading system. This gives you more control over your strategy.

trading platforms

Mobile Trading Platform

The mobile app is provided with easy-to-use and a strong range of tools that allow you to analyze and trade on the go. Moreover, MT4 mobile is flexible with its charting apps and good support that you’ll definitely enjoy.

Customer Support

Always bear in mind what support is provided by the broker. As we noticed in our SMFX Analysis, the broker is also trying hard to be on your side. You can contact SMFX for help at your convenience and get a relevant and appropriate response to your concerns. Even if the broker does not provide support 24/7, you will find it within working days and hours.

Training and Education

In addition to favorable trading conditions, SMFX also provides market intelligence traders with an economic calendar and other resources available for free use.

However, forex education, videos or courses are not given. You will certainly enjoy a wide range of research tools and other market necessities, along with ideas, but not education. If you’re a novice, you’d better sign up for a third-party learning course.


Final Word

Overall, the SMFX Review shows us a broker with versatility in terms of trading environments, options between account types and execution models, all of which offer you comfort with its overall trading experience.

A relatively low spread is another great option for SMFX, even despite the fact that its offshore broker is compliant with European standards of forex trading due to its CySEC license. Overall, we would suggest trading with SMFX as a safe choice for either beginners or experienced traders.

SMFX trading information

Forex, Crypto, Stock Indexes, Commodities
Demo Account
Min. Deposit
Min. Trade
0,01 lots
Regulated By
MT4 Integration
Mobile Apps
Auto Trading
Trade Signals
Islamic Account




FTSE Spread
Oil Spread
Stocks Spread



Official SMFX Registration



If you are the owner of this platform you can manage this account. First you need to claim the ownership of the platform.

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