“You trade: we stand by you” — this is the slogan of the brokerage company SmartSTP, which allegedly offers the best conditions for traders. However, the broker cannot boast regulation from reputable financial commissions, and the reviews found online appear to be fake. We have strong suspicions that this is yet another fraud in the forex industry. Let’s try to get to the bottom of it.
Brief Overview
- 🖥Official Website: https://www.smartstp.com
- ✈️Contact Address: 7th Floor, Tower 1, NeXTeracom, Cybercity, Ebene 72201, Republic of Mauritius
- 📞Customer Support: support@smartstp.com, +97145429107
- 🔐Licensing and Accreditation: MFSC
- ⏳Track Record: 2022
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: $250, 1:200
- 💰Additional Services: personal manager, webinars, videos
Smartstp.com Examination
The broker’s official website is a standard brokerage resource. The company discloses its legal address and licenses but remains silent about its operational history and business model, as well as the identities of its founders and top management. As a result, SmartSTP only provides partial information about itself, meaning we cannot call this firm fully transparent and open.
SmartSTP’s design is bland and faceless. The primary colors are white, gray, black, and a bit of orange. What stands out is the overwhelming amount of meaningless text. Every page is filled with grandiose phrases like “Lightning-fast trades execution” or “Integrity is where you begin”. If they mention order execution, why don’t they specify how long it takes? And what exactly enables lightning-fast execution? There is not a single word about this.
The menu structure is standard — key sections are located at the top of the page, with a button on the right for switching and logging in/registering, while the footer contains legal information and a risk warning. The imagery is poorly executed — just the same generic elements: laptops with charts, abstract currency symbols, and happy people.
So, while the official SmartSTP website is ordinary, it does have some drawbacks: the information about the broker is limited, and the style and design are neither unique nor professional.
Company Contacts
The official website lists as many as 15 phone numbers. Yes, that looks impressive. At the same time, there is only one email address, even though it would make sense for SmartSTP to have multiple emails for different languages. As a result, all user inquiries will be sent to a single inbox. Can traders expect a prompt response from customer support in such a case? We highly doubt it.
Reputable brokers have multiple emails for different regions. For example, the forex company FXCM provides six different emails on its official website for various locations.
Additionally, SmartSTP offers the option to chat with managers via online chat. The company also maintains social media accounts (Twitter, Instagram, LinkedIn, and Facebook). However, the low number of followers and minimal engagement suggest that the company is not particularly popular among traders.
Key Conditions
Most of the trading conditions are the same for everyone:
- Leverage up to 1:200.
- Volumes from 0.01 lot.
- 5% stop-out level.
- Technical support.
- Hedging is allowed.
- Zero commissions.
- Traded markets: forex, metals, indices, commodities, cryptocurrencies, and stocks.
The initial deposit is neither too high nor too low — $250. Clients are offered three account types, which affect the spread sizes. However, deposit requirements for the second and third account types are unknown, once again highlighting the company’s moderate level of transparency. The default spread on EUR/USD in SmartSTP starts at 2.6 pips, but on the Gold and Platinum accounts, it is reduced to 2.0 pips and 1.4 pips, respectively.
Also, depending on the tariff, the broker gives additional services:
- News alerts;
- The assistance of a personal manager;
- Webinars and videos;
- Swap discounts.
The trading conditions are fairly typical for an offshore broker. However, there is one major issue. Since SmartSTP promises zero commissions and relatively tight spreads, especially on the second and third account types, a logical question arises: How does the company make a profit? If there are no commissions and the spreads are competitive, the only remaining possibility is profiting from client losses. The platform benefits when traders lose money — that’s its source of revenue. If users consistently profit and request withdrawals, the firm incurs losses. It is obvious that this organization was not established to operate at a loss.
Exposing SmartSTP
Now, let’s move on to the most important part of our review. We need to verify the company’s licenses, legal address, and other operational aspects. Only then can we determine the true nature of the platform and answer the key question: Is this company trustworthy or not?
The footer of the website lists the legal entity — MRL Investments (MU). It is based in Mauritius, an offshore jurisdiction, and holds a local license from the MFSC. We checked the registers of this financial commission and can confirm that this entity did indeed receive a license in 2022.
However, the company has no other licenses, which means there is no serious regulation. The MFSC license is merely a formality, used by brokers to appear legitimate. In terms of security and trader protection, it holds no real value. If a broker with this “license” decides to disappear with your funds, no one will be able to help you.
Let’s compare this license to those issued by more reputable regulators, such as the FCA (UK) or CySEC (Cyprus). The difference between MFSC and FCA or CySEC is enormous. The FCA and CySEC strictly regulate brokers — they require the segregation of client and corporate funds, mandate participation in compensation schemes, conduct regular audits, and have the authority to impose fines or revoke licenses for fraudulent activity.
Traders are protected — if a broker goes bankrupt, they are entitled to compensation. In contrast, the MFSC is a lenient offshore regulator that issues licenses easily, does not require strict financial reporting, and offers clients no protection. If a broker licensed by the MFSC, such as SmartSTP, stops processing withdrawals, there is no authority to which traders can file complaints.
What Reviews Do Users Leave?
Another negative factor is the reviews about SmartSTP — or more precisely, the fact that the positive comments seem fake. These reviews look strikingly similar: just 2-3 lines of generic praise and fancy words, but without any specifics or details. They fail to describe any real trading experience with the platform — there is no mention of how much was earned, how much was withdrawn, how long the withdrawal process took, or any other trading details. This suggests that the broker is fabricating reviews to build a positive online reputation and attract more clients.
Conclusions
At any moment, the company could shut down and disappear with client deposits. This possibility cannot be ruled out since there is no serious regulation or insurance in place. SmartSTP does not appear to be a safe broker with a long track record and a solid reputation, so it is not worth trusting this firm. The risk is simply too high.
Pros/Cons
- The broker was licensed by the MFSC in 2022.
- Activities are not monitored by serious regulators.
- There are no guarantees of reliability and no insurance.
- The platform operates on a dealing desk business model — this is a conflict of interest.
- The firm is found guilty of publishing fake positive reviews.
I was never able to make money trading on SmartSTP. The company actively interferes with trading. Spreads constantly fluctuate, and the trading terminal is slow and full of glitches. Customer support is practically nonexistent, so I usually had to wait several days to get a response about why my stop-loss was triggered at -5% instead of -2%. I was literally losing 2-3 times more money because of poor order execution. That’s why I cannot recommend this platform. I switched brokers and finally started making stable profits. But here, I was only losing money consistently.
It is best not to risk money with offshore brokers. They engage in shady practices, play unfairly, and ultimately turn out to be scams. I doubt this platform will even exist for another 1-2 years. I believe it’s completely fake.