abstrak：A Forex broker, such as SAMTRADE FX, gives traders access to one or more platforms through which they can buy and sell foreign currencies. Retail forex brokers are also referred to as currency trading brokers.
Finding a reputable SAMTRADE FX review, whether local or global, can be difficult, especially if you want a complete list from a reliable source.
A Synopsis of SAMTRADE FX Review:
Awards and Recognition
Accounts
Types of Accounts
Deposits and Withdrawals
Cost and Fees
Leverage
Bonuses
Trading Platforms
Markets and Instruments
Safety and Regulation
Customer Support
Education and Training
Research
A Forex broker, such as SAMTRADE FX, gives traders access to one or more platforms through which they can buy and sell foreign currencies.
Retail forex brokers are also referred to as currency trading brokers.
Retail currency traders, in turn, use these broker firms to gain access to the 24-hour currency market for speculation.
Institutional clients and large corporations, such as investment banks, can also benefit from forex broker services.
SAMTRADE FX is a company registered with the Registrar of International Business Companies and the Financial Services Authority of Saint Vincent and the Grenadines.
SAMTRADE FX is a trading name of SAMTRADE UK International Limited, an English and Welsh company that is authorized and regulated by the Financial Conduct Authority (FCA).
SAMTRADE Pty Ltd is also an AFS-licensed authorized representative in New South Wales, Australia.
SAMTRADE FX is a Money Services Business that is registered with and regulated by the Financial Transactions and Reports Analysis Center of Canada (FINTRAC) (MSB).
SAMTRADE FX serves both retail and institutional clients and has offices in the United Kingdom, Australia, Malaysia, Indonesia, Thailand, Hong Kong, and Shanghai.
SAMTRADE FX is best known for its regionally recognized FX and CFD services, as well as its technological infrastructure that ensures minimal technical issues, while a professional and dedicated customer support team provides advice and solutions to clients around the clock.
Recognition and Awards
In the world of forex broker companies, receiving awards from prestigious organizations or publications means a lot for the company's reputation.
Such honors are usually proudly displayed on the company's website.
During its years of service to traders, SAMTRADE FX has received the following awards:
Best STP/ECN Broker at the 2016 China (Shenzhen) Forex Expo
At the China International Investments & Financial Expo, Best Forex Broker of the Year (APAC) for 2017.
At the 2019 WikiExpo, the most influential broker in Asia was named.
The Best Forex Trading Platform in Asia at the 2020 London Trader Show
Best Forex STP/ECN Broker at the 2020 London Trader Show
Best Asian Forex Introducing Broker at the 2020 London Trader Show
Accounts at SAMTRADE FX
A forex account is a trading account held by a trader with a company such as SAMTRADE FX that is issued for the sole purpose of trading on its platforms.
Typically, the number and type of accounts that a trader can open with a broker company vary depending on the country in which the brokerage operates, the trader's country of residence, and the regulatory authorities under whose jurisdiction it operates.
Accounts typically differ in the manner in which spreads or commissions are applied, the minimum deposit required to open that type of account, and the services or benefits to which account holders may have access.
In the case of Muslim customers, special Islamic accounts, i.e. swap-free accounts, are available, which are similar to other account types but operate in accordance with Shariah law.
Account Types and Their Benefits
The following account types are available at SAMTRADE FX:
Account Standard
A minimum deposit of ten dollars is required to open a Standard Account.
Leverage ratios of up to 1:200 are possible, and spreads can be fixed or floating, with a 5% commission.
The smallest lot size is 0.01.
Islamic Accounting
A minimum deposit of ten dollars is required to open an Islamic or swap-free account.
A leverage ratio of up to 1:200 may be used.
The spread is floating, and the minimum lot size is 0.01.
Profit STP Account
To open this type of account, a trader must deposit a minimum of $100 USD.
The spread is floating, no commission is charged, and the minimum lot size is 0.01.
Trading can be done with a leverage ratio of up to 1:200.
Account VIP
When opening a VIP account, a minimum deposit of $100 USD is required, and a leverage ratio of up to 1:200 can be used.
There is a floating spread and a 5% commission, with a minimum lot size of 0.01.
Account ECN
The ECN Account can only be opened with a minimum deposit of $100,000 USD.
A maximum leverage ratio of up to 1:200 can be used, as well as a floating spread and a 5% commission.
Also, the minimum lot size is 0.01.
Withdrawals and Deposits
To open the accounts, SAMTRADE FX requires the following minimum deposits:
For the Standard Account and the Islamic Account, 10 USD is required; for the Profit STP Account and the VIP Account, 100 USD is required; and for the ECN Account, 100 000 USD is required.
The Standard and Islamic Accounts, on the other hand, require a minimum deposit of $20 to open.
Accounts can be funded and withdrawn using Bank Transfer, Visa or Mastercard, and UnionPay.
Deposit processing times range from a few hours to one to four business days, while withdrawal processing times range from one to four business days as well.
Also, the minimum withdrawal amount is $20.
Fees and charges, commissions, and spreads
The cost of trading is determined by various factors such as commissions, spreads, and margins.
A currency pair's spread is the difference between the bid and ask rates. A pip is the smallest increment by which an exchange rate can change. For currency pairs with JPY as the term currency, one pip equals 0.01 and for all other pairs, it equals 0.0001.
The margin is the amount of money required in your account to open a position and is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your account.
Commissions are fees that an investment broker charges a trader for making trades on the trader's behalf.
The amount of commission charged is determined by the asset being traded and the type of service provided by the broker.
Execution-only brokers typically charge lower commissions because they do not provide personal investment advice and give traders complete control over how they trade the markets.
While the contract for difference (CFD) trading is a type of derivative trading that allows traders to speculate on the rising or falling prices of fast-moving global financial markets, trading on shares will result in commission. CFD trades on other markets have no commission, but they do have a spread wrapped around the market price of a particular instrument.
SAMTRADE FX charges a 5.0 percent account commission, but the Islamic account commission is USD 20.
The spread varies depending on the type of account.
Deposit and withdrawal fees are applied to the client's account, and inactivity fees may apply to inactive accounts.
Leverage
Leveraged product trading magnifies a trader's potential profit – but it also magnifies the trader's potential loss.
Leverage is a facility that allows traders to gain a larger exposure to the market than the amount they deposited to open a trade.
Leverage is expressed as a ratio, for example, 50:1, 100:1, or 500:1.
Assuming a trader has $1,000 in his or her trading account and is trading ticket sizes of $100,000 USD/JPY, the leverage will be 100:1.
Traders should keep in mind that, while the high leverage offered may be a benefit to the brokerage, trading at such high leverage should only be attempted by experienced traders who understand how to avoid large losses.
SAMTRADE FX traders can use a maximum leverage ratio of 1:200.
Bonuses
Deposit bonuses are frequently used by forex brokers to entice new traders.
This can be useful, but it is critical to understand the conditions in order to truly benefit from a bonus.
The bonus typically compensates traders for selecting a specific broker, because once the account is active, the trader will incur the same expenses as any other.
The bonus usually only begins to reimburse the trader's expenses after the trader has proven himself to be an active trader.
The European Securities and Markets Authority (ESMA) has also recently imposed investor protection measures on the marketing, distribution, or sale of CFDs, which prohibit brokers from providing a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution, or sale of a CFD, effectively prohibiting the offering of such bonuses.
SAMTRADE FX, according to the company website and other sources, provides a Welcome Bonus to all new and existing clients.
However, both welcome and credit bonuses are non-withdrawable, non-transferable, and only valid for three calendar months from the date of deposit.
This promotion is only for standard account holders.
Trading Platforms, Software, and Their Benefits
The forex trading software, also known as the platform, that a broker company provides to its clients in order for them to carry out their trades can be multi-asset, allowing clients to trade forex as well as other asset classes such as CFDs on stocks, stock indices, precious metals, and cryptocurrencies.
Some companies provide their own proprietary platform, which may benefit traders due to specific characteristics developed by the broker's specialists, whereas others prefer to provide the more well-known platforms that have been tried and tested over time.
SAMTRADE FX provides its clients with the MetaTrader 4 (MT4) trading platform.
The platform, which is available in over 30 languages, provides traders with numerous opportunities such as advanced technical analysis, a flexible trading system, algorithmic trading, and Expert Advisors.
Its simple interface makes it simple to use powerful charting features, real-time quotes, advanced technical analysis, and automated trading capabilities. MetaTrader 4 provides cutting-edge trading and analytical technologies, as well as additional services.
The MT4 platform is supplemented with Android and iPhone/iOS apps that offer real-time quotes and trade execution, advanced charting with multiple time frames, pip value calculators, financial market news, and other features.
Products, Markets, and Instruments
Most brokers provide trading in all or some of the following market instruments:
Forex:
Forex trading, also known as currency or FX trading, is the currency exchange market in which individuals, businesses, and financial institutions exchange currencies at floating rates.
Commodities:
Commodity markets, like currency exchange markets, allow for the trading of contract-based tradable goods.
Indices:
Equity or stock indices can represent a specific set of a country's largest companies or a specific stock market.
Actual stock market indexes are used to calculate the value of a specific segment of the stock market.
Precious metals include:
This entails trading gold, silver, and other precious metals as contract-based tradable hard commodities.
Energy:
The high volatility of energy prices as a result of political, environmental, and other factors is a common feature of this product, making it a popular trading option.
Cryptocurrencies:
The following are examples of tradable cryptocurrencies:
Bitcoin (BTC) is the digital currency with the highest market capitalization and price levels, accounting for half of the total crypto market capitalization.
Litecoin (LTC) is similar to Bitcoin but has lower scalability.
Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin, and it enables developers to build smart contracts on a platform.
The trading instruments offered by SAMTRADE FX include exotic currencies such as the Singapore Dollar, Hong Kong Dollar, and Chinese Yuan, as well as CFDs on gold, silver, platinum, oil, indices, and bitcoin.
Regulation and Safety
Before deciding to join a brokerage firm to begin trading, a potential trader should determine whether a broker such as SAMTRADE FX is safe and secure to trade with.
Establishing which regulating authorities are watching and overseeing a brokerage's actions, as well as whether the company complies with those regulations, is one of the most reliable benchmarks for measuring its safety.
In general, an “offshore” broker has a less favorable reputation, and potential traders should exercise caution before investing with them.
Second, the safety of the client's funds should be guaranteed, and in the event that the company defaults or goes bankrupt, some sort of safety net would come in handy to keep customers from suffering further losses.
SAMTRADE FX is a Saint Vincent and the Grenadines-incorporated company that is registered with the Registrar of International Business Companies and the Financial Services Authority of Saint Vincent and the Grenadines.
SAMTRADE FX is licensed and regulated by the Financial Conduct Authority (FCA) through its holding company SAMTRADE UK International Limited; as an authorized representative by the Australian Securities and Investments Commission (ASIC); and by the Financial Transactions and Reports Analysis Center of Canada (FINTRAC).
SAMTRADE FX is a member of The Financial Commission, an international organization dedicated to the resolution of Forex market disputes.
All client funds are held in segregated Top Tier One Bank accounts, and clients from Indonesia, Malaysia, Singapore, Thailand, and Vietnam are covered by the WikiFX Assurance Center, where they can file claims for compensation of up to $7,000 USD.
SAMTRADE FX also provides professional indemnity insurance with Howden Insurance Brokers for up to 500 000 USD per claim, and the broker offers negative balance protection on all accounts.
Customer Service
Potential traders must be confident that the broker firm they choose will provide them with the necessary support and assistance whenever they require it.
When selecting a broker, the ease with which such support teams can be contacted may also play a role.
SAMTRADE FX's customer support team can be reached via live chat, email, and a contact form on the website.
Support is available in three languages: English, Mandarin, and Chinese.
Conclusion
The FCA regulates SAMTRADE FX in the United Kingdom.
SAMTRADE FX charges commission has floating spreads, and fees for deposits and withdrawals.
The broker offers a trading platform called MT4 as well as attractive welcome bonuses.
