Smart Live Markets is one of the first MT4 brokers that offers spread betting. The spread betting status gives a tax advantage to traders in the UK. Financial spread betting is free from capital gains tax and stamp tax. The Metatrader platform by default is a lot based system 0. The conversion from lot based system to pound per point is not easy to do on an existing platform and the team at Smart Live Markets realized that they could serve a niche market by providing spread betting on the MT4 platform.
So what we needed was some method of getting all those different instruments into MetaTrader. And the most sensible way of doing that is through a price engine, and there are a few out there…,- Swissrisk are the market leaders in that area. We partnered with Gold-i because they enabled us to connect Swissrisk and MetaTrader via their Gold-i Gate Bridge which is their niche area of expertise.
Gold-i describes themselves as a trading systems integrator and provider of multi-asset execution using the super-low latency Gold-i Gate Bridge. Boasting ultra-low latency and artificial intelligence, funds can be invested in under 1 millisecond.
The company also offers trading on popular metals, such as silver and gold. The spreads offered by Smart Prime FX differ depending on the type of account held. The minimum spreads offered for a Silver account lowest tier are 1.
This reduces to a minimum of 1. The standard leverage offered is however Smart Prime FX does offer rates up to on a case by case basis. These rates allow customers to take larger positions with their cash outlay. However, high leverage can increase losses so traders should be aware of the risks involved. The app offers every order type and tradeable asset available through the desktop client, but with only three graph types and a limited selection of indicators and analysis tools.
Head to the respective app store to download the mobile application and enter your Smart Prime FX login credentials to get started. Traders can deposit funds via credit and debit card Mastercard and Visa in addition to Skrill, Neteller and wire transfer.
Most payment solutions offer instant processing, though Perfect Money and OK Pay, both coming soon, come with a 0. This is upwards of times the market average, with most brokers offering accounts with a minimum deposit of a few hundred dollars. The large initial deposit requirement will likely price out many beginners.
Profits can be withdrawn by most of the methods used to deposit funds. Payment times can stretch to three business days, with Skrill offering fast payments within one working day. Unfortunately there are also withdrawal fees to factor in, starting at 0. Smart Prime FX offers an unlimited demo account on the MT4 platform to test strategies and explore the markets.
Unregulated brokers operate without having to adhere to a set of guidelines, resulting in reduced protection for the customer against risks including scams and broker bankruptcy. This is an important consideration when selecting a forex broker. Additional features at Smart Prime FX are disappointing.
The market news section of their website provides links to CNN Money articles that have not been updated since October This will deter many beginners who benefit from additional tools and market research as they start trading on the financial markets. There are three account types available; Silver, Gold and Platinum.
Spreads fall from 1. As assets follow local trading hours, open your investing terminal for specific market opening times.
For example if you right click on the chart then select New Order it takes ages to get it correct. If price is anywhere near the entry you want you can just forget it. You may as well just enter at market and suffer the slippage. In fact their main unique selling point is the MT4 platform which suggests to me that they are competing with other retail market maker forex brokers that offer Meta Trader 4 as this is the most popular platform within the retail forex world.
It has always struck me as somewhat odd that, if you are based in the United Kingdom, you have to pay CGT when using the MetaTrader platform via a Forex broker, but if you perform exactly the same activity on a spread betting platform such as IG Index the main one we have used and Capital Spreads another market leader you do not need to pay any tax at all.
So if GKFX are offering the same platform with comparable spreads with the same execution reliability then for UK residents it would be a no brainer to use them due to the tax advantage together with the FSA regulation and compensation scheme etc. Money management etc may not work as you expect given the above so test your system on a demo account use fixed lots if your Expert Advisor cannot correctly calculate trade sizes.
You can part-close positions should you need to, so long as the instruction meets the trade-size requirements. Also, do keep in mind that relying on robots to do your trading can be very dangerous, particularly when they rely on outside forces to influence them. The main problem with SmartLiveMarkets is that the execution and reliability is still far from perfect. So whats the problem? Note that if you are experiencing re-quotes it will help to utilise the deviation setting at the bottom of the deal ticket, which allows some flexibility to not get re-quotes.
If you trade instruments with little more spread you might be fine. They used to offer tight fixed spreads, which was a major money spinner for many Asian traders, which came to an end in February with the move to variable spreads. Their customer service is quite good and Smart Live Markets do really seem to help where possible because, being newish yet having staff who have previously worked in the industry, they must have realised that this was the only way to stand a chance.
Mobile Trading: They do offer a mobile trading app although this is not official yet — available via the apple store though — just Google search. Mobile phone trading is available on the iPhone and Android. I find Capital Spreads have much better execution and lower margin requirements. Trade responsibly: Your money is at risk.
The minimum "bet" is 10 pence per pip on a spread betting account. They freely admit that they lump most if not all of your trades into one big internal "pot", which they then manually hedge only when their overall exposure warrants it. They also say quite clearly that they do not want "scalpers" for customers. Here's what their terms of business state in that regard:. We reserve the right to switch off the Expert Advisor functionality for any client who we, at our sole discretion, feel is abusing that facility, or may abuse it in the future.
Somewhat refreshingly Smart Live tell me they are not spending vast sums of money on marketing to build their customer base. Instead they are relying on "word of mouth", which might explain why we didn't notice their initial "launch"! Smart Live Markets further assure me that they are eager to acquire profitable forex traders and not just gamblers!
A laudable goal I'm sure you'll agree, and I've done my bit to help them out by opening a modest account of my very own. I'll keep you posted about my experiences with it. Filed under Brokers by Jim. Click here to cancel reply. Spread the Word!
Gold-i describes themselves as a trading systems integrator and provider of multi-asset execution using the super-low latency Gold-i Gate Bridge. Gold-i distinguishes itself from other bridge providers by supporting partial fills, partial closures, true limit orders no slippage and even Multiple Close on the Metatrader platform.
The Swissrisk pricing engine is a generic pricing tool that can take pricing from multiple exchanges and vendors. The Swissrisk system has to then get those prices as fast as possible into a trading system such as MetaTrader. So our interface takes those rates and pushes them directly into MetaTrader with ultra-low latency. We have done a great deal of work so that traders can emulate institutional trading on Metatrader.
Such collaboration will increase the market share of the hugely popular Metatrader platform in the UK. Traders are demanding low latency solutions, multiple order types and any tax advantage they can get. This is a good move by Smart Live markets to set themselves apart from the competition. Profits can be withdrawn by most of the methods used to deposit funds. Payment times can stretch to three business days, with Skrill offering fast payments within one working day. Unfortunately there are also withdrawal fees to factor in, starting at 0.
Smart Prime FX offers an unlimited demo account on the MT4 platform to test strategies and explore the markets. Unregulated brokers operate without having to adhere to a set of guidelines, resulting in reduced protection for the customer against risks including scams and broker bankruptcy. This is an important consideration when selecting a forex broker. Additional features at Smart Prime FX are disappointing. The market news section of their website provides links to CNN Money articles that have not been updated since October This will deter many beginners who benefit from additional tools and market research as they start trading on the financial markets.
Despite this, no details of these protocols or encryption standards are provided. It also mentions that access is secured by login and password, though there does not appear to be any additional security such as two-factor authentication. This apparent lack of security reduces our confidence in the broker. Smart Prime FX is an unregulated broker that lacks transparency regarding trading conditions and company history.
There is also a lack of information available regarding its founders and employees. It is therefore difficult to trust the legitimacy of Smart Prime FX. Smart Prime FX is unregulated and therefore does not provide the same level of protection as brokers regulated by well-known authorities such as the FCA. This is notably higher than many online brokers. The only way to get in touch with Smart Prime FX is by emailing info smartprimefx. Live chat support is not provided.
Trade 0. What account types are offered by Smart Prime FX?
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