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247SmartFX Broker Review

247SmartFX Broker Review
Borina
247SmartFX is a relatively new broker on the market that recently showed up, claiming to be the best way to make money and the best crypto broker. We take such claims pretty seriously, so naturally, we decided to do a 247SmartFX review in order to put these claims to the test. 247SmartFX is an online... Read more
247SmartFX is a relatively new broker on the market that recently showed up, claiming to be the best way to make money and the best crypto broker. We take such claims pretty seriously, so naturally, we decided to do a 247SmartFX review in order to put these claims to the test. 247SmartFX is an online broker that offers a bonus up to 30%, 1:200 leverage, has no fees on deposits and has a 1.6 EURUSD spread. Sounds familiar? Well, it should, as this sounds exactly the same as TQRtrade broker that we reviewed a few days ago. Are those two connected or is one broker copying another? Read our 247SmartFX review to find out!
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  1. 247SmartFX is a relatively new broker on the market that recently showed up, claiming to be the best way to make money and the best crypto broker. We take such claims pretty seriously, so naturally, we decided to do a 247SmartFX review in order to put these claims to the test.

    247SmartFX is an online broker that offers a bonus up to 30%, 1:200 leverage, has no fees on deposits and has a 1.6 EURUSD spread. Sounds familiar? Well, it should, as this sounds exactly the same as TQRtrade broker that we reviewed a few days ago. Are those two connected or is one broker copying another? Read our 247SmartFX review to find out!

  2. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    Your capital is at risk
  3. 247SmartFX Special features

    247SmartFX is a broker that offers Standard, Classic, Premium and Gold Account, just like TQRtrade. We believe how this is basically the same broker, as account descriptions are no different.

    The Standard account requires a $250 deposit. Traders don’t get anything, but access to the online trading interface. Also, they don’t get live chat customer support but have to use email and phone to reach the broker.

    The Classic account costs $2,500 in deposit and offers you a live chat feature and access to all features available on the trading platform. For this price tag, we were expecting a bit more.

    The Premium account is available only after you deposit $20,000. You get benefits of the Classic account, as well as SMS signals, VIP manager, and a direct phone line.

    The Gold account is the priciest – it costs $50,000 and unlocks all features, as well as offers special promotions and personal reports.

    Basically, the more you spend the more features, tools and services you will get. We have nothing against this approach, but it is somewhat unusual that the broker doesn’t offer something as basic as live chat to all traders.

    247SmartFX Demo Account

    247SmartFX doesn’t offer a demo account. This means that after you register and make a deposit, you have to start trading with real money without having the opportunity to learn about the platform first. This usually means that your trading will definitely be a lot riskier, as a demo account allows traders to get familiar with the platform and learn how to use it to avoid rookie mistakes. Adding a demo account would mean a great deal to all traders interested in this broker, who wish to see the platform before they place the first trade.

  4. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  5. Become an IQ Option trader today

    Join IQ Option and become a trading master! IQ Option is a world-famous regulated broker that takes your trading to the next level. It allows you to trade forex, crypto, stocks, options and much more on its award-winning platform. The best part? You can start trading with a minimum deposit of ONLY $10! Read our IQ Option review.

  6. 247SmartFX Trading software

    247SmartFX doesn’t deliver a lot of information regarding its software. We are all aware that trading software is one of the most important elements of trading with a broker. That is where the trades are placed and where traders can check out their past trades, decide on their future trades, maybe even receive signals and alerts. However, in this case, traders are kept in the dark.

    The only thing this broker says is that there is web-based platform and Windows based platform. However, there isn’t any information on any of them, which we find rather confusing. We can conclude that there is a web-trading interface that requires no downloads, and another platform, that needs to be downloaded and installed. These are our assumptions as we couldn’t find a way to really see the trading platform, and not to mention test it.

    247SmartFX Mobile App

    In 247SmartFX mobile app, we managed to find out how the mobile trading app is actually a Metatrader 4 app. It is available for Android and iOS devices. Metatrader 4 is a very popular platform among traders, beginners, and professionals alike. However, it remains a mystery whether the Windows-based platform the broker is mentioning is also an MT4 platform.

    We always appreciate a good mobile app as it supports simple and straightforward trading on the go. For example, you only have to log in once, and your trades will be accessible with just a few clicks. Also, mobile apps are safer than trading from the mobile browser. This type of trading enables you to always have all your trades in the palm of your hand and to react in the exact moment when needed. With a mobile app, you don’t have to worry whether you are at home or at the beach – all you have to do is bring your phone and you won’t skip a day of trading.

  7. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  8. 247SmartFX Support information

    247SmartFX has very unusual customer support for a broker that claims to be the best. Traders who deposit a bare minimum (or anything under $2,500) don’t get access to live chat support. Also, if you are only interested in their product and want to ask a simple question, you won’t be able to do that via live chat either. Considering how live chat is a form of customer support that can be found on all types of websites from clothing stores to public services, it doesn’t make sense that this broker decided to limit it.

    However, you can still use the phone number (+44 208 089 3931) that is not free and will cost money or send an email ([email protected]) which will cost time. There is also a Skype profile you can talk to –  247smartfx.com.

  9. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  10. 247SmartFX Payment Methods

    Making a deposit and requesting a withdrawal are a very important processes in online trading. However, this broker doesn’t state any information regarding deposit and withdrawal methods or limits. The only thing we found out in 247SmartFX review is that there is a $250 minimum deposit.

    Bonus Policy

    As we previously mentioned, this broker offers a 30% deposit bonus. Before making a withdrawal, traders must trade 3.3 lots for each $10 they accept as a part of a bonus. Each lot is 100,000 currency units. In case you make a profit, but don’t fulfill bonus terms, you won’t be able to withdraw any of them. We must admit that the bonus trading volumes required are pretty high and demanding.

    Is 247SmartFX a scam?

    We don’t have enough evidence to say that this broker is 100% scam. However, we believe there are better brokers available on the market today. When in search of a broker, always give advantage to regulated and transparent brokers that have good trading conditions and free demo. For this reason, we suggest you take a look at IQ option and open a free demo account!

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
  12. Your capital is at risk
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