Hello, this company came to our attention for the following reasons – SmartSTP: numerous complaints, fake trading terminal, signs of fraud.
In our review of SmartSTP smartstp.com: key data on the platform and its conditions, the legal aspect of the project, complaints from former clients, and an overall evaluation/overview.
General Information
SmartSTP positions itself as a broker providing access to Forex and CFD trading through a platform based on the TradingView solution. The company MRL Investments (MU) Ltd is registered in Mauritius and holds a Mauritius FSC license (number GB21027168). The official website is modern in style; however, the structure of the information leaves much to be desired. Often, key data on trading conditions, deposit sizes, commissions, and swap rates are presented fragmentarily, making it difficult to objectively assess the transparency of the company’s activities.
During registration, all traders receive a universal retail status without the option to choose a professional one. This means that regardless of experience, users are offered similar conditions, while detailed account parameters necessary for assessing the actual trading efficiency are virtually impossible to find. The absence of information on methods of storing client funds, compensation funds, and financial reporting reduces trust in the platform.
The SmartSTP platform, despite using the familiar TradingView interface, demonstrates limited functionality. The inability to work with multiple charts simultaneously negatively affects the speed of decision-making in conditions of high market volatility. Also, navigating through a long list of trading instruments is inconvenient, which becomes a significant drawback for experienced traders accustomed to flexible workspace customization. Inconsistencies in leverage data across different sections of the website further emphasize the lack of uniformity in the presentation of information.
Verification of the company’s official registration confirms that MRL Investments (MU) Ltd was established in 2022 in Mauritius, yet the domain name smartstp.com was registered in 2018, which may indicate an evolution of the business model. The offshore license implies that for clients from the EU and the UK, the service conditions do not meet MiFID II standards or the requirements of the British FCA.
As a result, users from these regions remain without the usual protection measures and guarantees of rights compliance.
Related: Zinzenova — An Objective Analysis of a Scam Platform – RealTrustFeedback.com.
Legal Aspect
An important aspect is the broker’s positioning, which is created by indicating the license and registration in the Mauritius business registry.
The lack of a complete range of information and the refusal to provide details regarding trading conditions, deposit terms, swap rates, and payment details raises questions among potential clients. For instance, the minimum spread for the EUR/USD pair, stated as 1.4 pips, can in reality reach 2.6 pips for some accounts, negatively affecting trading efficiency.
The absence of detailed data on swaps, which have negative values for both sides of the trade, is also cause for doubt about the broker’s integrity.
The presence of a Cypriot structure, MRL Investments (CY) Ltd, does not compensate for the lack of transparency, as there is no license from the local regulator CySEC. Limited access to a demo account—requiring prior registration and the provision of personal data—further increases concerns about the safety of using the platform.
A license from the local regulator CySEC is necessary, but it is absent; all actions of smartstp.com are illegal. The web archive shows that the site was inactive for a long time, and the domain smartstp.com is questionable. Domain data: Whois smartstp.com.
Review
In the end, despite having official registration and a license, SmartSTP demonstrates a number of significant shortcomings: incomplete and fragmented information, limited functionality of the trading platform, and conditions far from the best in the industry. For traders, especially those from countries with high regulatory standards, it is important to carefully assess all aspects of the broker’s operations, compare the conditions with competitors’ offers, and weigh the risks before opening an account.
Thus, the presence of a license at SmartSTP does not guarantee complete comfort and safety for clients. Transparency of information and functionality of the trading platform remain key criteria for making a decision about cooperation. A thorough analysis of all data will allow potential clients to assess the real effectiveness of the conditions and choose the optimal option for trading, eliminating possible risks associated with the lack of disclosure of important information.
Reviews:
FAQ
A scam broker with deceptive practices.
An offshore Mauritius FSC license that fails EU/UK standards.
All reviews are negative, confirming its scam nature.
nice review!!!