Samtrade Fx Review

SAMTRADE FX Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This content is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

Samtrade is a Forex broker, stocks index, and commodities. Created in 2016, it is a broker whose commercial presence focuses on countries such as Australia, China, and Southeast Asian countries. The website is available in English and Chinese.

 

Samtrade FX is registered and regulated on the islands of Saint Vincent and the Grenadines, like many other Forex brokers, but is essentially a Forex broker directed to the Chinese market.

 

This broker promises tight spreads and running STP on ECN. We cannot know whether this is true or not. Samtrade FX also claims to have client funds in segregated accounts. They also offer a copy trade service, so a customer can replicate the operations of other traders in real-time. Certainly, the website is very well built and has a pretty professional appearance.

 

Samtrade FX claims to have been awarded 3 times as the best broker in China, receiving the “Best STP Broker/ECN” awards in China (Shenzhen) Forex Expo 2016, the “Best Forex Broker of the Year 2017 (APAC)” at China International Investments & Financial Expo and the “Most Influential Broker in Asia 2019” at the Kuala Lumpur Wikifx Expo 2019.

3.8/5

3.8/5

Top Takeaways for 2022

Overall Summary

📝Ratings
⭐Trust Score74
🌐Websitehttps://www.aximtrade.com/
⚖️Regulation StatusUnknown
🏠Established
📉InstrumentsForex Currency, Commodities, Crypto.
📊Trading platformsMetatrader 4
📱Contact No
📧Email

Is SAMTRADE FX Safe?

  • Investor protection: Falcon Insurance
  • Regulation: FINTRAC Canada
  • Registration: FSA SVG, 
  • Publicly traded: OTC:SMFX
  • Segregated account: yes
  • Guaranteed Stop Loss: no
  • Negative Balance Protection: ye
  •  
  • One of the best benchmarks to measure the safety of a broker like SAMTRADE FX, is to establish which regulating authorities are watchdogs over its actions.

     

    SAMTRADE FX is registered by the Registrar of International Business Companies and by the Financial Services Authority of Saint Vincent and the Grenadines.

     

    Through its holding company SAMTRADE UK International Limited, SAMTRADE FX is regulated by the Financial Conduct Authority (FCA); as well as by the Australian Securities and Investments Commission (ASIC) and the Financial Transactions and Reports Analysis Center of Canada (FINTRAC).

     

    SAMTRADE FX is a member of The Financial Commission too, an international organisation that resolves disputes in the Forex market.

     

    Clients’ monies are kept in segregated Top Tier One Bank accounts and clients from Indonesia, Malaysia, Singapore, Thailand and Vietnam are protected under WikiFX Assurance Center for up to 7 000 USD in compensation.

     

    SAMTRADE FX provides professional indemnity insurance with Howden Insurance Brokers and negative balance protection on all accounts.

Regulations Comparison

Year Founded2010
Publicly Traded (Listed)
Bank
Tier-1 Licenses
Tier-2 Licenses
Tier-3 Licenses

Offering of Investments

SAMTRADE FX offering of investments:

Forex Trading✔️
CFD Trading✔️
Tradeable Symbols (Total)247
Publicly Traded (Listed)
Forex Pairs (Total)44
US Stock Trading (Non CFD)✔️
Int'l Stock Trading (Non CFD)
Cryptocurrency (Physical)
Cryptocurrency (CFD)
Social Trading / Copy-Trading✔️

Commissions and Fees

The cost of trading depends on different factors like commissions, spreads, and margins.

 

The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

 

The amount of money required in your account to open a position is called the margin and is calculated according to the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your account.

 

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker.

 

Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions.

 

While contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, it’s trading on shares will incur commission. CFD trades on other markets has no commission but do wrap a spread around the market price of a certain instrument.

 

SAMTRADE FX charges a commission of 5.0% on accounts but the Islamic account commission is USD 20.

 

Spread is variable depending on the type of account. Deposit and withdrawal fees are charged to the client’s account and inactivity fees may be applicable for idle accounts.

Minimum Deposit 10 USD
Average Spread EUR/USD - Standard0.91
All-in Cost EUR/USD - Active0.91
Active Trader or VIP Discounts
Execution: Agency Broker✔️
Execution: Market Maker

Platforms and Tools

MetaTrader 4

MetaTrader 4 (MT4) is one of the most popular trading platforms used globally for online forex and CFD trading. The user-friendly interface makes it suitable for traders of all experience levels. MT4 comes preloaded with technical analysis tools, multiple order types and various chart time frames. The platforms capabilities can be expanded via the installation of add-on software which can be in form of technical indicators, expert advisors (EAs), trading tools, scripts, news and analysis packages, etc. MT4 supports automation of trading strategies using EAs which can also be back tested over historical data using the MT4 strategy tester. Samtrade FX offers the MT4 platform for both Mac OS and Windows computers.

 

Economic Calendar

There is an economic calendar on the Samtrade FX website which lists the upcoming economic events, their dates, time, and analysts’ consensus of the impacts on the financial markets as well as the actual impact when the event finally happens. Clicking on any event shows its details including charts. This is a useful tool for traders who use fundamental analysis methods.

SamTrackTM

This is a portfolio management service powered by Samtrade FX. You can easily check performances, allocate funds and monitor the process. It is imperative that you understand there are no guarantees at all on what the results will be and you can lose all of your investment. Online trading is extremely risky and you should never trade what you cannot afford to lose.

CopySamTM

This is a trade copy service provided by Samtrade FX. It allows traders to follow and copy the trades of other traders. It is compatible with the MetaTrader 4 platform and runs on a virtual private server (VPS). It has automated payment software that takes care of payments for the copy service and has a sophisticated profit and loss tracking software. CopySamTM can be customized to suit most trader’s individual needs. It is again imperative that you understand there are no guarantees at all on what the results will be and you can lose all of your investment. Online trading is extremely risky and you should never trade what you cannot afford to lose.

Trade Signals

Traders have the opportunity to get trading signals on Samtrade FX through its partners. Samtrade FX insists that it does not guarantee the accuracy of the signals and are not responsible for any content from these third parties.

 

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