SMIMarkets Broker Summary
- Overall Rating
For SMIMarkets, the main goal is to provide an environment where their customers can learn the fundamentals of online trades, they can be groomed through education programs/sessions and their trading skills can be polished to the point where they become independents, and ready to make their own investment decisions.
Let’s Get Acquainted With SMIMarkets!
If you are reading this then it means you have been reading about online trading in different assets and eager to find the best option for making your investments. So, if it is profits you want then you have come to the right place as SMIMarkets is the brokerage that ensures to provide their customers (clients) with this opportunity. While many people are focus on making profits, they are completely unaware of the fact what goes in the making to make that happen.
In the world of trading, the most crucial thing is what kind of trading environment is offered by the brokerage. While most of the brokerages fail to facilitate their clients with the necessary components and attention, SMIMarkets does the opposite. Their goal is to provide their customers with the most professional trading platform, which is achievable by ensuring that their customers are provided with the most user-friendly environment, intuitive trading platform, and professional and dedicated assisting staff, state of the art trading tools, up-to-date trading news, education and coaching to groom their clients and polish their trading skills even further.
For SMIMarkets, it is the customers first and then anything else.
Assets SMIMarkets Offers
While majority of brokerages focus on offering just one product, SMIMarkets provides customers with the following:
In Commodities, you mainly deal in the buying and selling process of unindustrialized or raw materials. In unindustrialized or agricultural materials, you mainly deal with cotton, lumber, corn, cattle and as far as raw materials are concerned, it refers to crude oil, coal, precious metals etc. Even though there is an entire catalogue of commodities that the investors can choose to trade in but Gold and Crude Oil are considered very popular and highest profit making assets among the rest:
Gold in the global market holds very high reputation due to its nature and demand. Since its discovery, it has remained at the top of the chain either in the form of currency, jewelry or a country’s economic position. In the current times when global economy has taken the worst dip the 21st century has seen, bringing down the price & value of each asset, gold seems to be taking no damage to its worth and instead, the price of gold has seen a significant rise in the past months.
So, if you do wish to go with commodities, you can consider choosing gold as your trading asset, which would definitely be a smart and profitable move.
- Crude Oil
In commodities, Crude oil could be considered 2nd to gold due to its unending demand. It is the resource extracted from underneath earth’s surface. Crude oil is composed of organic materials and hydrocarbons and after extracting, it goes through the filtration process to further extract gasoline, diesel, kerosene oil, petrol as well as other petrochemicals. At present, crude oil exists as the primary source of energy and although, the prices of crude oil took a dip due to the Covid-19 situation, but has now started recovering its value with the Covid-19 situation coming under control.
Due to its permanent demand, this asset is never a bad trade and is the easiest source of making profits.
While stocks deal with the asset price/value of a company’s assets that has made its shares public, Indices represent the combined shares/assets value of several companies from any country and measuring their overall market value (whether high or low). The companies put together in these buckets can be from the same as well as different field sectors.
Currently, the top indices in the index market are FTSE All-World Index, S&P global 100, S&P1200, Dow Jones Global Titans 50 and Russell global index. Therefore, you can proceed with this trade as it is never a loss if you invest in a group of companies rather than spending your money in just one company’s shares.
Considered the most volatile, popular and profitable trade, Forex trade (foreign exchange trade) is the buying and selling process of foreign currencies in order to earn profit through the price difference. Due to its nature and high volatility, Forex currently holds the crown for being the most-liquid trade and due to this fact, majority of investors have been attracted towards this trade. As a result, the total transaction volume being transacted through forex daily is $5.5 trillion.
- The basic knowledge
In forex, the very first thing to be aware of is that the currencies come in pairs such as JPY/CAD, USD/EUR, GBP/USD etc. This means that once you have chosen a pair and choose an action, the opposite action is applied to the latter currency by default. Therefore, if you choose the pair JPY/CAD and decide to buy, it literally means that you are buying JPY and selling CAD in the process and vice versa.
- The inseparable pair
In Forex the most volatile and fluctuating pair is the USD/EUR (just like Federer and Nadal in tennis). The reason behind their popularity is their worldwide recognition as the most demanded and leading currencies in the entire world. This is the reason why many traders get attracted to this trade and as a result, this unique pair makes up for $2.2 trillion transaction volume being transacted through the forex market daily, which makes up for almost 50% of forex’s daily transaction volume.
Why Basic Education Is Necessary
In the current times, investors have perceived brokerages as platforms developed by individuals with the sole purpose of extracting money out of them and never fulfilling their promises. The reason why SMIMarkets exists is to provide their customers with the amount of knowledge and information, so they can make their business decisions independently and make fortunes as the outcome.
With the promising success of forex and the profit it has to offer, many experienced traders as well as novice traders have started finding their way to online trades to try out their luck. The users who are already familiar with trading take very less time to get used to the online trading maneuvers and tactics. However, for users who are new, it would become a nightmare if there is no one out there to point and guide them in the right direction.
Keeping the above in mind, SMIMarkets has taken it upon itself to provide new traders with the basic knowledge about Forex as it gives them hands-on experience in the trading markets as well as the confidence to make their own calls. The education system involves the introduction to Forex followed by the process of trading in forex.
What Do They Have To Offer The Customers
If you are completely new to the trading business and wish to know whether you have the patience and courage to stick with online trading then this would be the perfect choice. You can make a minimum deposit of 250 (dollars, euros or pounds) via bank wire transfer or credit card to get yourself a beginner account and use it as your training ground, where you can make investment decisions and calls with really low risk involved.
Once you own this account, you can trade with a micro lot (0.01) size with a leverage up to 100(max). You can trade within variable spreads and can trade in assets such as commodities, indices, CFD(s) or 50+ currency pairs (forex). Also, you can contact SMIMarkets’ 24/5 customer support to discuss your issues or queries.
If you are already familiar with the online trades and are ready to take the first step is a real-time investor in either of the assets offered by SMIMarkets, then you can proceed with acquiring the standard account that you can get by making a minimum deposit of 500 (dollars, euros or pounds), that can be executed either through bank wire transfer or credit card.
Owning a standard account at SMIMarkets enables you to trade with 1 lot size and leverage of up to 200 (max). You have the opportunity to trade in variable spreads and have all assets (forex, indices, CFD(s), commodities) up for trading that are offered by SMIMarkets. One of the best thing that SMIMarkets has to offer you is “Negative Balance Protection”, which means that if you suffer from a huge loss in an investment or a trade, your account will not go in negative and you will only lose the amount that you had deposited.
Similar to beginner account holders, you can get in touch with SMIMarkets’ 24/5 customer support and on top of this, you have a dedicated account manager who can provide you good piece of advice and guidance at any given time.
- GOLD ACCOUNT
If you are well experienced in online trading or have been trading through SMI Market’s standard account for a while and want to take it to the next level, this account would be the right choice for you. Even though trading through gold account is riskier than beginner or standard account levels, it also packs more profits and even fortunes if you have the patience to see them through. You can acquire this account by making a minimum deposit of 5000 (dollars, euros or pounds) either through bank wire transfer or credit card.
When you have a gold account, you can trade 1 lot size with a leverage of up to 1:300. Through this account, you can trade in gold spreads and can trade in all assets (forex, commodities, indices, CFD(s)) currently being offered by SMIMarkets. Again, if you are unlucky to lose your precious assets, rest assured that you would not lose more than you deposited so there is no chance of you getting into negative, which normally happens to people trading through other brokerages.
Same as the standard account, the customers with gold account can contact the 24/5 customer support to discuss their issues and have them solved at the earliest. With the gold account, you have an account manager at your service who can guide you throughout your trading journey.
- DIAMOND ACCOUNT
If you count yourself among the pro-level traders and are ready to face the harshest and most challenging trading environment, then you would found what you are looking for through SMIMarkets’ diamond account. All you need to do is make a minimum deposit of 1000 (Dollars, Euros or Pounds) using a bank wire transfer or a credit card which grants you ownership of this account.
With SMIMarkets’ diamond account, you can trade with 1 lot size with a leverage of up to 1:400. When trading with the diamond account, you have the benefit of trading in diamond spreads under all assets offered at SMIMarkets, and you have the benefit of “negative balance protection”. At SMIMarkets, you have the benefit of doing financial planning and making necessary adjustments through risk management.
Just like other accounts, you have the support of the customer care team who are available 24/5 to solve your queries in a timely manager. Furthermore, you can always get assistance from the personal account manager whenever you seek guidance and proper investment advice.
- VIP ACCOUNT
If you consider yourself the Jordan or Bolt of online trading and are ready to trade at the highest level in the trading markets then you can acquire access to the VIP account by having someone (who already owns an account at SMIMarkets) send you a private invitation. Once you receive the invitation, you can make a deposit in USD, EUR or GBP.
Becoming a member of the SMIMarkets’ VIP account lets you trade with 1 lot size with a leverage of 1:400. Trading with a VIP account lets trade within VIP spreads and you have the option to choose from any asset offered by SMIMarkets to trade in. This account also gives you the benefit to trade under the “negative balance protection” and have the feature to do financial planning in order to manage your assets and finances in the most efficient manner. Furthermore, VIP account holders can also perform risk management planning and have access to trading signals.
When it comes to real-time support, VIP account holders have 24/5 customer support, personal account manager and to make things better, VIP account holders are also accompanied by expert analysts who are always available to provide one-on-one coaching and help you fix the gaps in your trading performance.
- ISLAMIC ACCOUNT
One of the best feature offered by SMIMarkets is that it allows its investors (ranging from Beginner to VIP accounts) to trade following the Sharia regulations. This is to accommodate specifically the Muslim traders, for whom any interest-involving factor is haram.
Why Trade With SMIMarkets?
No matter the asset, the most important thing is what level of support and guidance is being provided by the brokerage to their clients. While the majority of brokerages focus on bringing in more and more investors, SMIMarkets’ aim is to facilitate their clients as much as possible. For SMIMarkets, the main goal is to provide an environment where their customers can learn the fundamentals of online trades, they can be groomed through education programs/sessions and their trading skills can be polished to the point where they become independents, and ready to make their own investment decisions.
In order to make this happen, SMIMarkets has provided their customers with the most advanced trading platform with the most user-friendly interface, top notch trading tools/components, news & updates, education system (forex), trading market insights and real-time support based on priority levels. Most of all, SMIMarkets wants every one of their employees as well as clients to communicate with each other in the most professional and respectful manner. For SMIMarkets, communicate in the proper way is the first ladder for success.
SMIMarkets’ Real-Time Support
For any organization to stay on top of their game, it is extremely important to provide their customers with the best and the most `prompt real-time assistance, and this is where the customer support has the most critical role to play as they are not only at the front rows, but also represent their company, and if it is bad customer service, then it is negative feedback for the company that inversely affects a company’s reputation and creates a hurdle in its growth and success. As SMIMarkets is customer oriented, therefore, it takes it very seriously to provide their customers with the real-time support through:
- 24/5 CUSTOMER SUPPORT
In order to provide customers with prompt assistance, SMIMarkets has put together a team of highly intellectual, professional and dedicated individuals. These individuals are not new to the customer support sector but have been linked with this sector for years. They are highly knowledgeable with the SMIMarkets’ policies and have undergone basic trading sessions, which allows them to provide customers with basic level trading assistance and escalate the queries over to the relevant departments if a certain query is above their scope. Most of all, these individuals know the value of respect when communicating with the clients and are always ready to go the extra mile in order to assist them.
- PERSONAL ACCOUNT MANAGER
If you are a registered customer with SMIMarkets and own a standard account or higher, you can acquire the services of a personal account manager. These account managers have vast experience in online trading and are up-to-date with the trading market trends. Not only this, these account managers are responsible for monitoring your trading activities in order to filter out the flaws in your trading methods and work with to find the solution to the problems you face. They also conduct one-on-one coaching sessions with each investor added to their trading list and provide you with the right piece of advice, which would prove beneficial and efficient in your future trades.
The main role of these account managers is to stay right beside you at every given time so if you come across any hurdle, they can offer you their help to overcome any problems across the way. They are also responsible for keeping you posted with the latest news and updates regarding the trading markets, calibrate the situation and upcoming events to make the right decisions.
- ACCOUNT ANALYSTS
In order for every company to run their operations smoothly, it is imperative for that organization to have a team of individuals who are experts, experienced and highly capable of analyzing each one of their company’s aspects/assets through the historical data and come up with forecasts to improve their company’s overall performance. Simply put, these experts are responsible to keep an organization’s engine running by feeding it with the data and information it needs to keep going.
Although, these individuals always perform their duties, research and analysis in the background, yet SMIMarkets has assigned them with a unique responsibility, which is to keep monitoring the performance of the investors added to their monitoring list and gather their historical trading data to predict their next trading moves and pre-calculate the outcome of their actions.
Once they have the necessary data, they are able to predict whether an investor’s actions would lead him/her to make profits or losses. If profits, they try to increase them as much as possible for their clients by providing them with expert opinions and if loss, then either try to avoid it entirely or if the loss is inevitable, then minimize it as much as possible.
Can You Do It?
No matter how much world of trading may sound attractive, there is always risk involved. In online trading, there are people who start making profits the very second they start doing trades, for some it takes long to pick-up and for some, even longer but it all comes down to “Patience”. If you are among the group, who take long to make profits then do not lose hope. If you cannot take the pressure and are afraid you may become impatient, then online trade is not your gig so it is better to drop the idea and reassess your options.