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Samtrade FX Review - is it scam or safe?

Samtrade FX Review - is samtradefx.com scam or good forex broker?

RATING: 1.5 / 1 REVIEWS ForexBrokerz Samtrade FX
Samtrade FX is an offshore broker. Your money is not safe.

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Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Standard $300   1:100 2 pips

 

Samtrade FX has one basic type of live trading account. Additionally, it offers swap-free Islamic accounts, corporate accounts and joint accounts. There is also a free demo account for testing purposes.


The broker offers trading in the standard fare of forex and CFDs.



The Company. Security of Funds


Company Country Regulation
Samtrade FX. Ltd Vanuatu  VFSC

 

 

Samtrade FX is based, registered and regulated in Vanuatu, like so many other forex brokers, but in essence is a Chinese forex broker.


It promises tight spreads, no hidden fees and STP execution on ECN. There is no way for us to verify those claims, so we’ll take them with a grain of salt. It also says it keeps client funds in segregated accounts.


Either way, we must not forget that Samtrade FX is an offshore broker with practically non-existent regulation and dealing with it is riskier than dealing with reputable companies with tight regulation. As a general rule we recommend to deal with brokers licensed and regulated by watchdogs like UK’s FCA or the ASIC who have strict requirements and exercise tight oversight.


Trading platform


Not surprisingly, Samtrade FX offers the popular MetaTrader 4 (MT4) multiasset trading platform.


Over 10 years since its launch, it is still preferred by brokers and traders alike, thanks to its user friendly interface, multiple options, indicators and analysis tools and third party add-ons.


Methods of payment


Samtrade FX accepts payments through bank transfer, debit/credit cards, China UnionPay and the online payment platforms WeChatPay and AliPay, which are popular in China.


Conclusion


We have no detailed information about the regulation requirements in China, but there are global brokers like XM who offer their services in Chinese and have much more serious regulation than Samtrade FX and has much lower deposit requirement.


Besides, we are not very impressed with the trading conditions, or at least the little information we have about them.


Pros Cons
MT4 Offshore regulation
  High deposit  

 

 

Latest news about Samtrade FX
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Traders` reviews for Samtrade FX

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Cons

 

 

Customer service

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Summary

Pros

Cons

 

 

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