Rich Smart charges $7 commission per lot when trading in an ECN account.
The spreads in this account type start from 0.0 pips. You can get access to a swap-free trading model on the Standard account in this brokerage.
Rich Smart Company Information & Regulation
Rich Smart is a multi-asset financial broker founded in 2015. The company operates under the legal name Rich Smart Finance Limited, registered under company number 27122 BC 2024.
Its registered office is located at Suite 310, Griffiths Corporate Centre, Beachmont, Kingstown, St. Vincent and the Grenadines.
The website does not provide any information regarding any regulation licenses. Therefore, the brokerage is not regulated by any financial authorities.
Rich Smart Key Details and Features
As it is with the reviews of other Forex brokers, in this section we will give you a quick overview of what Rich Smart offers; here is a table summarizing its key features:
Broker | Rich Smart |
Account Types | ECN, Standard, Demo |
Regulating Authority | None |
Based Currencies | USD, KHR, LAK, MYR, VND, THB, etc. |
Minimum Deposit | None |
Deposit Methods | Credit/Debit Cards, Bank Transfers, E-Payment Systems, Crypto |
Withdrawal Methods | Credit/Debit Cards, Bank Transfers, E-Payment Systems, Crypto |
Minimum Order | 0.01 |
Maximum Leverage | 1:500 |
Investment Options | Copy Trading |
Trading Platforms & Apps | MetaTrader 4 |
Markets | Forex, Commodities, Indices, Stocks, Crypto |
Spread | From 0 Pips on ECN Account |
Commission | None on Standard Account, $7 per Lot on ECN Account |
Orders Execution | Market |
Margin Call / Stop Out | 100% / 50% |
Trading Features | Analysis, Economic Calendar, News |
Affiliate Program | Yes |
Bonus & Promotions | None |
Islamic Account | Yes |
PAMM Account | None |
Customer Support Ways | Ticket, Email, Live Chat |
Customer Support Hours | 24/5 |
Trading Accounts Overview
Rich Smart offers 2 main account types plus a demo to its clients. We will compare the two real accounts in the table below:
Account Type | ECN | Standard |
Min. Order Size | 0.01 | |
Step Lot | 0.01 | |
Swap Fee | Yes | Yes/No |
Margin Call | 100% | |
Stop Out | 50% | |
Max. Leverage | 1:500 | |
The main difference between these two accounts is the spread/commission, which will be discussed later in this article.
How to Create an Account and Verify Your Identity
Getting started with Rich Smart is done in a few steps which will be explained in this section. Account Creation Tutorial:
- Navigate to the official website at [www.richsmartfx.com];
- Click on "Register" button at the top-right corner of the page;
- Provide your name, email address, country of residence, and phone number, and create a password;
- Click on "Verification" to receive the verification code in your email/phone number inbox;
- Agree with RichSmart Legal Document.
Now, your account is created on the broker's website. To activate it, you must verify your identity by providing additional personal information and submitting proof of identity and proof of address.
Trading Platforms and Terminals
Rich Smart primarily offers the MetaTrader 4 (MT4) platform, which is widely renowned and popular in the industry. Main Features:
- 3 order execution types
- 50 technical analysis indicators
- Programmable trading bots available
- One-click Trading
You can download/use the platform on these operating systems/environments:
Trading Commissions and Other Fees Related to Rich Smart
The broker does not charge any kinds of fees other than trading commissions. We will review the spreads and trading fees for each live account in the table below:
Account Type | ECN | Standard |
Spread | From 0 Pips | 1 Pip or More |
Trading Commission per Lot | $7 | None |
Funding Options and Withdrawal Methods
Rich Smart offers 6 methods for depositing and withdrawing funds:
- Credit/Debit Cards: VISA, MasterCard
- Bank Transfers: Wire Transfers
- E-Payment Systems: DISCOVER, Perfect Money
- Crypto: Tether [USDT]
Copy Trading Options and Other Investment Features
Rich Smart offers copy trading functionality, allowing traders to replicate the strategies of successful investors.
However, it's worth noting that the selection of signal providers may be more limited compared to specialized social trading platforms since the service has been recently launched.
Are There Any Bonuses and Promotions?
As of {YEAR}, Rich Smart does not offer any bonuses or promotional offers to its clients. Keep in mind that this approach might change in the future; occasionally check this webpage in case of any updates.
Support Contact Channels and Schedule
Rich Smart provides a typical set of 3 support channels to assist clients with any queries or issues:
- Email: support@richsmart.com
- Ticket System: On website's "Contact Us" page
- Live Chat: Available on the website
The 24/5 availability ensures that traders can get assistance during all market hours.
Trust Ratings and Evaluation Scores
Trust scores and user reviews on valid sources provide valuable insights into a broker's reputation.
This company has received a score only on ScamAdviser, which is a 51/100 "Trustscore", based on the SSL certificate, DNSFilter's data, and the domain's track record.
Conclusion and Final Words
Rich Smart, offering access to leverage of up to 1:500, has a margin call and stop out level of 100% and 50%, respectively.
The brokerage's website, with 2.7K+ monthly visitors, has a 51/100 Trustscore on the ScamAdviser platform.
