Have you been thinking about trying your luck in online trading? Its profits you want and trading different financial instruments can be a great way of making money from your investment. After all, there are literally thousands of these instruments that you can trade and you have the freedom of investing as much or as little as you like. As technology has evolved, so has the trading world and these days, becoming a trader is a lot simpler and easier than it used to be. While you definitely don’t need to have any background in this market to begin, you do need a broker.
Financial brokers have been a part of the trading market since the beginning and this hasn’t changed even with any advancements. The only difference that can be seen is that now you have online brokers to help you out. You don’t have to go searching in the market for a broker because now you can find one online. The number of online brokers continues to rise, but this doesn’t mean that any broker will work out for you. In the trading world, the kind of trading environment a broker offers is of the utmost importance.
You need security, along with a good trading platform, variety of assets and solid trading tools, but not all brokers are capable of offering you these. Some brokers just don’t have the know-how or the experience to do so while others are actually not interested. Why is that? This is due to the fact that these brokers are mostly shady or pure scams that only want to make money by exploiting their clients. Yes, such brokerages do exist and there are lots of stories about people who had to go through all of it. No one wants to be another statistic and so, your choice of broker needs to be a smart one.
Don’t be too focused on the thought of making profits that you completely forget to do your due diligence where a broker is concerned. Sure, you want a broker that can facilitate you by providing the necessary tools, but you also want a professional trading platform, great customer support, top-notch security and an overall friendly trading environment. SMIMarkets fits this definition perfectly because when you choose this forex and CFD broker, you get an intuitive trading platform, state-of-the-art trading tools, a dedicated and professional support staff, training and education for polishing your skills and competitive trading conditions.
SMIMarkets At a Glance
Beginner, Standard, Gold, Diamond and VIP
Web Trading Platform, Desktop Trading Platform
250 (USD, GBP or EUR)
Forex, Indices, Shares, Commodities, Metals
Trading News, Risk Management Tools, Real Prices
Education and Training
Yes, E-books and Online Courses
KYC (Know Your Customer) and AML (Anti-Money Laundering) Policy
Background of SMIMarkets
Owned and operated by 1Bit OU, SMIMarkets has its registered address in Estonia and it is licensed to provide financial services. Since 2002, SMIMarkets has dedicated itself to providing people with the best online trading experience in the market and they have great strides in achieving this goal. This is evident by the fact that the broker has spread its operations all over the globe and now has its offices established in more than one country. You can find the broker’s office in London, United Kingdom, Stockholm, Sweden and Sydney, Australia.
With their professional team, SMIMarkets has developed award-winning trading platforms for their clients, added a ton of trading instruments to their asset catalogue and are offering customizable services to their clients that no other broker is offering. The broker offers CFD trading, which refers to Contract for Difference. This form of trading doesn’t involve investment in the actual asset; traders only deal in contracts of the underlying asset and take advantage of its price movements for earning profits. SMIMarkets has put its customers first due to which their services are catered to delivering an optimal and smooth trading experience.
But, how can you ensure that they are the right choice for you? To confirm this assessment, you should take a look at the features they have to offer and make your decision accordingly:
SMIMarkets lets you practice portfolio diversification
As mentioned earlier, there are hundreds of online brokers offering their services and you will discover that a good portion of these focus on one trading product most of the time. This is certainly beneficial for those who are just interested in one instrument, but one of the best ways to earn maximum returns through trading is diversification. This means that you spread your investment over different trading products to make the most of it. Hence, you would want to find a broker that allows you to do so and this is where SMImarkets can be a good choice. You can trade the following instruments with this broker:
This category comprises of everyday items like agricultural products including coffee, wheat, rice, cocoa, cotton, sugar and more and even energies like natural gas can also be traded. SMIMarkets gives you the opportunity of investing in these commodities, which can give you regular returns and the broker offers tight spreads to help you make the most of it.
These are hard commodities that are also worth investing in because they are mostly profitable items that can give you consistent profits. SMIMarkets has added gold, silver, platinum and other precious metals for accommodating traders who have a low-risk tolerance and don’t want to risk too much in the trading market.
One of the most popular commodities that are traded in the market is oil, including Brent and Crude oil. Since it is heavily demanded, its price can fluctuate on a regular basis, which provides plenty of trading opportunities to traders. Therefore, you will find both of these options available at SMIMarkets when you decide to invest your money in oil and it offers you special leverage for trading this particular instrument.
Stocks are focused on the value/price of a company’s assets, indices are a representation of the combined assets/shares of several companies and measures their overall market value. The companies can be from the same sector or even different ones. This tends to be riskier, which makes it a great option for traders who are not afraid to take risks. SMIMarkets gives its clients access to some of the top indices in the market including S&P 500, FTSE 100, Dow Jones, DAX and Nikkei 225.
The biggest and most lucrative financial market in the world, the Forex market has a daily trading volume in excess of $5 trillion. Buying and selling foreign currencies and earning profits because of their price difference is one of the most popular forms of trading. SMIMarkets has added numerous forex currency pairs to their asset index to give their clients the opportunity of investing in this volatile yet profitable market. You can trade a horde of currency pairs, from major to minor, including USD/EUR, GBP/USD and JPY/CAD amongst others.
SMIMarkets doesn’t take your security and safety lightly
In the light of increasing cybersecurity incidents, it is not surprising that most traders have become very conscious of their security. Online trading involves risking their money and their identity as well and they have to trust a broker with both. This can make a lot of people apprehensive because they are afraid of the consequences in case the broker disappoints them. Subsequently, your priority should be to find a broker that considers the security risks and take appropriate measures to handle them. SMIMarkets has done a great job in this regard and their security measures are worth checking out.
To start with, the broker is compliant with the KYC and AML policies, which are Know Your Customer and Anti-Money Laundering policies, respectively. These policies can assist SMIMarkets in ensuring that no shady individuals can make their accounts with the broker. This is a common tactic used by cybercriminals for gaining access to a broker’s network. With these security policies, they are unable to do anything because they have to provide documents for proof of ID and proof of address for their account to be verified.
Proof of ID is given by submitting a government-issued ID, like a passport, driver’s license or a national ID card. Your utility bill, whether gas, water or electricity, or even a bank or credit card bill showing your address will work for proof of address, as long as it is not more than three months old. To protect all this information taken from clients, SMIMarkets has opted to use the highest level of encryption. Every piece of data shared by their clients is encrypted, along with their communication. This ensures that even if third-parties gain access, they will not be able to use the information for any nefarious purpose.
It is also advised by SMIMarkets that traders use strong passwords for their trading accounts and not share them with anyone. Lastly, the broker has taken fund protection seriously by maintaining segregated accounts with some of the leading banks in the world. This means traders’ funds are kept separate from the broker’s own to prevent any discrepancies and with the best banks for keeping them secure at all costs. With this broker, you don’t have to be concerned about the security of your information or your funds.
SMIMarkets facilitates traders from different backgrounds
If you have done your research into brokerages, then you know that some of them only cater to a specific category of traders like newbies or experienced ones. They may not say so outright, but their services are designed to appeal to a particular category and if others do sign up with them, it can become immensely difficult for them to trade. Luckily, SMIMarkets isn’t this kind of broker because they have developed their services to cater to all kinds of traders. It doesn’t matter if you are a beginner or a seasoned trader; the broker can provide you everything you need in one place.
This is obvious from the different account options that the broker has added to their platform. Check out the five choices below:
The first account option at SMIMarkets is aimed at a particular class of traders and it is rather obvious from the name. This account can be acquired with a minimum deposit of 250 (GBP, EUR or USD). Signing up for this account allows traders to enjoy a maximum leverage of 1:100 and the spreads are also variable. They can trade more than 50 currency pairs, indices and commodities and the lot size is set at 0.01. You can use bank wire transfer or credit/debit cards for making your deposit. The account also includes access to 24/5 customer support for every client.
The second account type that you will find at SMIMarkets is for traders with some experience and knowledge and you have to make a minimum deposit of 500 (GBP, USD or EUR) to open it. The deposit amount can be increased to as much as 4,999. The minimum lot size is also increased to 1 in this account and the leverage is set at 1:200. This account gives traders access to a personal account manager for guiding them during the trading process. They are also given negative balance protection, which ensures that they only risk the money they invest.
The third account option that can be opened with SMIMarkets is meant for intermediate traders. They have to deposit a minimum of 5,000 (EUR, GBP or USD) to open it, but can increase this investment to as much as 9,999, if they want. Special gold spreads are given to traders for this account and they can now take advantage of leverage of 1:300. Traders can make a financial plan under this account and enjoy instant execution. Plus, they are free to open a mini saving account that can give them income in the form of interest.
Meant for skilled traders, the fourth account option that you will come across on SMIMarkets asks for a minimum deposit of 10,000 (USD, GBP or EUR) and they can increase this investment till 49,999. The leverage for this account is now increased to 1:400 and the spreads are even tighter, referred to as Diamond spreads. Traders can get assistance with risk management and planning and they are free to open a full-fledged saving account that gives them substantial monthly income.
The last account option at SMIMarkets is meant for truly professional traders who have high trading volumes. This account can be opened only upon private invitation and comes with VIP spreads. It is a customized account for traders that gives them access to private analyst sessions. They can also enjoy trading signals that can come in handy for making great trading moves and decisions. Priority withdrawal is another perk of the VIP account.
Along with these account options, SMIMarkets also facilitates Muslim traders by allowing them to open an Islamic account version for all of these account types. They can comply with the Sharia laws and also take advantage of the potential of the trading market.
SMIMarkets offers innovative trading solutions
The trading platform that a broker incorporates in its offerings is not something that you can take lightly because it is what you will use for executing your trades. If the platform has any issues or is too complicated to understand, you will not be able to trade comfortably and this can create a major problem for traders. In fact, if you take a look, you will discover that most traders switch brokers because they were unhappy with their trading platform. SMIMarkets doesn’t want its customers to have the same complaint and so they have added some innovative options to accommodate all kinds of traders. You can choose from the following:
The first trading platform that you will find at SMIMarkets is the most basic and you can access it from the broker’s website. It doesn’t need to be downloaded or installed, which can save you time and can be accessed on any device that supports a browser. This allows you to trade from anywhere and makes the platform immensely easy to use and navigate. One-click trading is one of the most notable features of this trading platform and it has excellent speed when it comes to executing commands. It gives you access to real prices and allows you to use all kinds of trading commands.
For those who are looking for a more sophisticated solution for their trading needs, SMIMarkets has come up with a desktop platform. This does require downloading and installation, but there are no complications, whatsoever. You will be able to access some of the most advanced trading tools when you opt for it, along with analytical indicators. The platform provides you with direct prices from Central Banks and you can execute a variety of commands. Expert guidance is also provided to the traders and they are given trading alerts and recommendations every time a profitable opportunity shows up.
Apart from these options, SMIMarkets has also given its clients the flexibility of being able to trade straight from their smartphone or tablets through mobile apps. This allows trading on the move and enables traders to benefit from even the smallest trading opportunity.
SMIMarkets provides support and resources
Trading is a process of constant learning because the market is evolving. Therefore, every trader, whether they have just started or those who are already in the market, need access to resources that can help them expand their knowledge. SMIMarkets is fully aware of this requirement and they have ensured their clients are not disappointed by adding extensive and in-depth educational resources on their platform. These resources cover different areas of trading, which not only provide insights to beginners, but also to skilled traders, helping them polish their skills.
It is not just educational support that you will receive when you sign up with SMIMarkets. The broker also ensures that you can get in touch with their customer representatives if you need any additional help. There are times when you will have questions about any procedure or there may be a problem with your account. No matter what the case, you will need assistance and the broker has added multiple channels that can be used for reaching out to them. You can go with the standard option of email, but for a more personal touch, a phone number is also provided on the broker’s website.
SMIMarkets has also given its clients the option of filling down an online contact form on their website in which they can outline their query. Last, but not the least, there is also the option of using live chat for contacting one of the representatives. Every agent is helpful, friendly and knowledgeable and they will try their level best to resolve your problem as quickly as possible to satisfy you.
It is apparent that SMIMarkets has developed their trading solutions and offerings for traders from all backgrounds. They deliver open and transparent services and are quite upfront about their costs. You don’t have to worry about being charged any hidden fee. The Term and Conditions of the broker outline all their policies clearly so you will know exactly what you are getting into if you open an account with them. Their banking options are convenient and security is excellent, giving you complete peace of mind. You can enjoy great trading conditions at SMIMarkets that enable you to enjoy high returns on your capital, while keeping your losses at a minimum.