Smart Prime Group Review
Smart Prime Group is a retail broker that operates from Kingstown, Saint Vincent and the Grenadines. They allow traders to buy and sell various financial instruments across different asset classes — forex, indices, stocks, commodities, CFDs, and more — using the MetaTrader 4 trading platform. Traders get access to raw ECN spreads, rapid execution speeds, and more. There are various trading account types to choose from.
Smart Prime Group Review, Pros & Cons
- MetaTrader 4 trading platform
- Level 2 (order flow) platform
- Educational resources
- Various account types
- Unregulated brokerage firm
- Minimum $25,000 deposit
- Not the cheapest commissions
- No standalone trading tools
- No USA clients
In this detailed Smart Prime Group review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Smart Prime Group Overview
Smart Prime Group is an online trading broker that provides a global clientele with unhindered access to the global financial markets. Trades are executed via a range of advanced trading platforms, including the intuitive MT4 trading platform. There are educational resources and a 24/7 customer support team available to assist traders. However, the minimum deposit required to start trading is $25,000, with leverage of up to 1:100 available.
Smart Prime Group Regulation
There is no regulatory information on the broker’s website at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
Smart Prime Group Countries
The broker offers its services to clients from different parts of the globe where the use of such services would not be contrary to local laws and regulations. They cannot accept US traders.
Some Smart Prime Group features and products mentioned within this Smart Prime Group review may not be available to traders from certain countries because of legal restrictions.
Smart Prime Group Platforms
Smart Prime Group provides traders with the MT4 trading platform. The MT4 trading platform is used for trading various financial assets with advanced built-in tools. Introduced in 2005, the MT4 trading platform is one of the most relied-upon platforms because it has a user-friendly interface. The platform combines technology with design to present a set of various trading features, such as one-click trading, support for automation of trades via expert advisors, various chart types, multiple timeframes, and more. The MT4 trading platform is available in the following versions: desktop, web, and mobile.
The broker also offers a level 2 order flow platform for both automated and manual trading with unique features and tools to optimize your trading experience.
Smart Prime Group Trading Tools
There are no well-defined standalone trading tools on the broker’s website. However, the MT4 trading platform contains enough built-in tools to satisfy even the most demanding traders.
Smart Prime Group Education
There are some educational resources on the broker’s website to help try to ensure that traders make knowledgeable trading decisions. The available educational resources include learning articles, trading guides, and market news that keeps traders up to date with the latest happenings in the financial markets.
Smart Prime Group Instruments
Smart Prime Group offers the following trading instruments: forex, commodities, stocks, indices, and more.
Smart Prime Group Accounts & Fees
Traders are allowed to choose the account type that suits their trading objectives from a choice of three trading account options. The account types and their corresponding minimum required deposits are as follows: Silver ($25,000), Gold ($50,000), and Platinum ($100,000) Accounts. There is also a demo account for practice purposes.
As broker fees can vary and change, there may be additional fees that are not listed in this Smart Prime Group review. It is imperative to ensure that you check and understand all of the latest information before you open a Smart Prime Group broker account for online trading.
Smart Prime Group Support
The broker has a responsive client support team who are available 24/7 to respond to all clients’ inquiries. The support can be contacted via telephone, email, online form, or by visiting their physical office in Kingstown.
Smart Prime Group Deposit & Withdrawal
Traders can deposit and withdraw funds to and from their trading accounts using any of the following payment methods: bank wire transfer; credit/debit cards (Visa, MasterCard, and Maestro); and some online payment processors, such as Neteller and Skrill.
Smart Prime Group Account Opening
Opening an account with Smart prime Group can be done via a few easy steps: click on the ‘SignUp’ button at the top right corner of the broker’s website, fill out the form, and provide the required KYC documents.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree with them.
Smart Prime Group Summary
Smart Prime Group is a multi-asset brokerage firm that gives traders access to the global financial markets via the MT4 trading platform, which is available in desktop, web, and mobile versions. Traders are provided with favourable trading conditions to help them get the best out of their trades. However, the broker is not regulated by any known financial authority at the moment and the minimum deposit is very large at $25,000.
Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose.