Smpfxtrade has been flagged by Commodity Futures Trading Commission for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I had a dispute with Smpfxtrade and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Low minimum deposit|Multi-device support|Automated trading options|Transparent fees
Cons: Account statements could be more detailed
I am in a dispute with Smpfxtrade over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Regular updates|No hidden fees
Cons: Onboarding videos are outdated
Opened my account with Smpfxtrade through a forum discussion and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.
Pros: Dividend tracking|Fast support response
Cons: Limited social trading features
I opened an account with Smpfxtrade for the past year and a half ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Real-time alerts|Stable platform|Regular updates
Cons: Withdrawal takes 1-2 business days|No fractional shares
The so-called education at Smpfxtrade is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for about three months thinking they would help me learn.
Pros: Risk management tools|Multiple order types|Quick verification
Cons: No dark mode on mobile|Slow to add new assets
Smpfxtrade advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Full transparency|Helpful community forum
Cons: Limited ETF selection|No live chat on mobile
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Smpfxtrade is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Lost entire investment|Reported to authorities|Unresponsive
Customer support at Smpfxtrade seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Demo account available|Market news feed|Automated trading options|Multi-currency support
Cons: Could offer more webinars|Charting tools need more indicators
Several red flags with Smpfxtrade: (1) They promise unrealistically high returns, (2) They're not registered with Commodity Futures Trading Commission, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Unauthorized firm|Found in IOSCO warnings database