About SMI TRADE
Overview
SMI TRADE is a retail forex and CFD broker registered in the United Kingdom, operating the website smitrade.eu. The broker was founded in March 2023 and is based at 203-207 Oxford Street, London W1D 2LE.
According to the broker's website, SMI TRADE provides trading in forex, indices, commodities, shares, and CFDs. It offers four account tiers—Bronze, Silver, Gold, and Platinum—with minimum deposits ranging from €250 to €200,000.
Regulation and Safety
SMI TRADE does not hold any known regulatory licences from financial authorities. The broker is registered as a company in the United Kingdom, but this registration does not imply financial regulation.
FXCanary's Scam Risk Score for SMI TRADE is 85 out of 100, indicating a severe risk. Traders should exercise extreme caution and consider this lack of oversight a major red flag.
Account Types
SMI TRADE offers four account tiers designed to accommodate different capital levels. The Bronze account requires a minimum deposit of €250 to €10,000 and offers a maximum leverage of 1:100. The Silver account requires €10,000 to €50,000 and provides leverage up to 1:200.
For higher-net-worth individuals, the Gold account demands a deposit of €50,000 to €100,000, and the Platinum account requires €100,000 to €200,000. Leverage for these tiers is not specified on the broker's site.
Instruments and Platforms
SMI TRADE lists forex, indices, commodities, shares, and CFDs as available instruments. The broker does not publicly specify which trading platform it uses, such as MetaTrader 4 or 5, or a proprietary solution.
Given the high minimum deposit requirements, the broker appears to target professional or high-net-worth traders, but the lack of platform details adds to the opacity of its offering.
Target Audience
The account structure suggests that SMI TRADE is aimed at traders with substantial capital, particularly the Gold and Platinum tiers which require deposits in the tens of thousands of euros. The Bronze tier, with a lower minimum, may attract retail traders.
However, the absence of regulation and severe risk score make this broker unsuitable for most retail traders, especially those seeking investor protection.
Overview compiled by FXCanary from regulatory records and public data. full SMI TRADE review