SmartDengi Review
Broker | SmartDengi |
---|---|
US Traders Accepted | |
Company Name | SmartDengi |
Headquarters | British Virgin Islands |
Regulation | No |
Bonus Size | 0% |
Max Payout | 75% |
Out-of-Money Reward | 75% |
Trading Platform | SpotOption |
Deposit Options | Credit/debit cards, Skrill, Nordea, iDEAL, CashU, WebMoney |
Deposit Currencies | USD, EUR, GBP and RUB |
Minimum Deposit | $100 |
Minimum Trade | $25 |
Maximum Trade | $1,500 |
Online Since | 2012 |
Trading Instruments | Forex, Commodities, Stocks, Indices |
Number of Trading Instruments | 57 |
Binary Option Types | Call & Put Option, One Touch, Option Builder, 60 Second, Open Platform |
Customer Support Types | E-mail, phone, live chat |
Education Offered | Demo Video, How-to-Trade Page |
Tools Offered | Daily Market Review, Weekly Market Review, Expiry Rates, Expiry Rates Rules, Live Financial News |
Commission | $20 fee on wire transfer withdrawals |
Languages | English, Chinese, Russian |
Demo Account | No |
SmartDengi is headquartered in British Virgin Islands, but when you will visit their site you may get an impression as if it is a Russian website. First of all, they have a default Russian interface and they also accept deposits in the Russian currency of Ruble. Besides Ruble, one can fund their accounts in US Dollar, Euro and GB Pounds as well. SmartDengi also supports English and Chinese languages beside Russian. So, if you know English only, you need not to worry at all. Even while trying to use their online chat feature, you may come across Russian texts. But without being puzzled you can continue your chat, as the customer care executive will smartly translate your input into Russian and will reply you back in English. But if you are from the US, you need not to bother about contacting them, as SmartDengi does not accept US traders.
SmartDengi provides different trading platforms to their clients. They neither reveal anything about the platform on the website nor would their customer care executive be able to provide you with any detail about the platform. However, their website claims that SmartDengi offers a 100% web-based intuitive platform that enables traders to gain substantial profits from the financial asset trading. Unfortunately, they do not provide a demo account. So, unless you fund your account with the minimum amount of 100 Dollars or 300 Rubles, you will remain clueless about their platform. But whether you are a newbie or an experienced trader, investing even $100 may not be sensible without having any idea about their trading platform. At the same time, they are not a regulated company and have been in the business for about one year only. The good thing is that their online chat feature is efficient and functional, and traders can discuss their issues online with one of their customer care executives. But again there could be some language issue between you and their executive, and he may fail to answer some of the key questions such as name of the company, trading platform etc. This is difficult to understand whether this is his ignorance or it is because of the language problem.
If these issues do not bother you, you can open an account with them and deposit money using debit cards, credit cards, wire transfer and some electronic payment methods like Nordea and CashU. SmartDengi offers more than 50 assets to their clients, which include various Forex, Commodities, Stocks, and Indices. They maintain a minimum trade size of $25 while their maximum trade size is of $1500.
Trading Choices
SmartDengi does not have a large number of assets for their clients. Still with their 57 financial instruments they offer a sufficient number of choices to the traders. Traders can choose to invest in Forex, Commodities, Stocks, and Indexes from different financial markets. SmartDengi provides a payout of 68%-75% at an out of money guarantee of 5%-10% on their regular binary options. Besides their traditional binary options, traders can also choose to invest in One Touch, Option Builder, 60 Second, Open Platform, each having own specific profit levels and risk features. Their Option Builder offers a 70% payout at a 10% insurance. While their One Touch may offer above 500% profit, which experienced traders can take advantage of and can quickly multiply their money. Beginners should not consider One Touch option, keeping in mind the underlying risks that this kind of investment is often associated with. Their 60 Second option is for the traders who can make speedy decisions, and thus can make a profit of 75% in just one minute. They also offer the option of Open Platform which guarantees a profit of 73%.
However, traders who want to earn deposit bonuses may get disappointed with the bonus scheme of SmartDengi. They do not offer any deposit bonuses to the clients, but bonuses are rewarded to clients as a part of their promotional program. So, one may not be sure of getting bonuses from them. Only lucky ones can receive bonuses from SmartDengi. Even if you receive some bonus from them, you will have to execute a total trade volume of 35 times of that bonus amount so that you can withdraw your bonus. So even if you earn a bonus it seems somehow difficult to withdraw it, particularly if you are a small investor.
Technical Analysis
For traders to stay profitable in their financial trading, it is important that they take help of various kinds of technical analyses and tools. Most brokerage firms today offer an advanced level of technical tools enabling traders to make sensible trading decisions. SmartDengi too offers some kind of technical tools which include Daily Market Review and Weekly Market Review. Traders can consult these reviews to learn about the ongoing developments taking place in the financial markets. SmartDengi also provides Expired Rates and Expiry Rates Rules to their clients, which prove helpful in selecting specific asset(s) for investment purposes. Traders can also have access to Live Financial News to remain aware of the market developments.
Learning & Support
SmartDengi does not offer any demo account. They do not reveal anything about their trading platform either. In such a case, traders would expect the firm to provide them with comprehensive learning resources, so that one can have a fair idea about their platform and how to trade using it. But SmartDengi only offers a Demo Video and a How To Trade section on their website. Importantly, both newbie and experienced traders will require better education from them in order to gain more confidence when it comes to investing their money through the firm.
However, SmartDengi does maintain an efficient online chat service where a helpful customer care executive makes all efforts to answer all your queries. A Russian speaking executive will try to translate your queries and will reply you in English. So, there is no need to make a call for getting an instant help. You may also e-mail them your queries.
Conclusion
Both beginners as well as experienced traders may discover several kinds of limitations while choosing SmartDengi as their binary options broker. First of all, they do not offer any demo account. Neither do they reveal anything about their trading platform. Unless one opens a live account with them, one can have no idea about their platform. No sensible person will be ready to invest money without knowing anything about the company, their regulatory status, the trading platform and other key details. Since SmartDengi is not a regulated company, most of the experienced traders may not find them a reliable brokerage firm for their investment purposes. The minimum trade size of $100 can draw the attention of the newbie traders but in the absence of a demo account, they may not preferably choose SmartDengi to invest their money.