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.