Samtrade offers no-commission trading accounts with floating spreads from 1.7 pips. The broker requires a minimum deposit of $10, and offers leverage options of up to 1:1000. S.A.M. Trade (Asia) Pte Ltd is publicly traded on the OTC Markets in the USA with the symbol “SMFX.”
Samtrade; Company and Regulation
S.A.M. Trade (formerly known as Samtrade FX) was established in 2015 on the fundamentals of 3 pillars: Synergy, Adaptability, and Motivation.
The company previously operated with two main legal entities in Australia and Saint Vincent and the Grenadines.
However, the Australian company, which was licensed by the ASIC, was deregistered on 16th July, 2024. Therefore, Samtrade now operates only through its legal entity in Saint Vincent and the Grenadines with two main regulatory licenses, including:
- The Financial Commission (FinaCom);
- The Financial Transactions and Reports Analysis Center of Canada (FINTRAC), with registration number “M19977589”.
It's important to note that Samtrade previously came under scrutiny from Singapore's authorities in 2022.
The Monetary Authority of Singapore (MAS) and the Singapore Police Force had launched an investigation into the company.
The probe related to suspicions of "irregular trading activities" on the platform, leading to three arrests.
The investigation raises questions about the company's operations and compliance with local regulations.
Samtrade FX Specific Details
S.A.M. Trade is an ECN/STP brokerage company offering Forex, CFDs, and Futures with EUR/USD spreads from 1.7 pips. Let’s take a quick look at the broker’s offerings.
Broker | S.A.M. Trade |
Account Types | Standard, VIP, Islamic, ECN |
Regulating Authorities | FinaCom, FINTRAC |
Based Currencies | Crypto, Currencies |
Minimum Deposit | $10 |
Deposit Methods | Visa/Mastercard, Bank Transfer, USDT |
Withdrawal Methods | Visa/Mastercard, Bank Transfer, USDT |
Minimum Order | 0.01 lots |
Maximum Leverage | 1:1000 |
Investment Options | Copy Trading |
Trading Platforms & Apps | MT4, CopySam |
Markets | Forex, Indices, Commodities, Cryptocurrencies, Futures |
Spread | Variable based on the account types |
Commission | None (except for the ECN account) |
Orders Execution | Market |
Margin Call / Stop Out | 100% / 50% |
Trading Features | Copy Trading, Promotions, Crypto Trading, Futures, Partnership |
Affiliate Program | Yes |
Bonus & Promotions | SamRewards, Referral, Traders’ Challenge |
Islamic Account | Yes |
PAMM Account | Yes |
Customer Support Ways | Ticket, Email |
Customer Support Hours | 24/5 |
S.A.M. Trade Account Offerings
Samtrade understands that one size doesn't fit all regarding trading accounts. It offers a range of account types to cater to different trading styles and experience levels.
Features | Standard | VIP | ECN | Islamic |
Min Deposit | $10 | $10 | $100 | $10 |
Max Leverage | 1:1000 | 1:1000 | 1:200 | 1:500 |
Commission | None | None | $5 | None |
Spreads | Standard | Tight | Best Offerings | Standard |
Priority Support | No | Yes | Yes | No |
Samtrade Registration and KYC Verification
We must mention the account opening and KYC procedure in this S.A.M. Trade review. You must be at least 18 years old to be able to open an account. You’ll also need to provide documents translated to English.
- Visit the broker’s website at “https://www.samtradefx.com/”;
- Click “Open Live Account”;
- Provide personal information, residence address, and contact information;
- Adjust account setting;
- Fill in the “Employment Information” form
- Provide proof of ID (passport or national ID) and proof of address (utility bill or bank statement);
- Fill out the “Investment Background” form;
- Activate the 2FA sign-in by using Google Authenticator or Microsoft Authenticator;
- Fund your account with an amount equal or higher than the minimum deposit.
Samtrade FX Trading Platforms
The company offers two primary trading platforms, catering to different trader preferences and styles, including the robust MetaTrader 4 and the proprietary copy trading platform CopySam.
While the CopySam application is not listed on any reputable app stores and even the broker doesn’t provide any download links for it, here are the links to download MT4 mobile.
Samtrade Fees and Commission
S.A.M. Trade’s main source of income is spread. Having no commissions on the Standard, Islamic, and VIP accounts, the broker charges higher spreads than average.
However, the ECN account that comes with a $5 commission, has the tightest spreads that the broker offers. Typical spreads on some of the most popular instruments:
Instrument | Spread (Pips) |
EURUSD | 1.7 – 2.0 |
EURGBP | 2.4 – 2.7 |
SPX500 | 8 |
US30 | 5 |
NAS | 500 |
XAUUSD (Gold) | 30 – 42 cents |
WTI | 5.0 cents |
DAX 30 Futures | 37 |
US Oil Futures | 4 |
Samtrade FX Withdrawal/Deposit Methods
We must discuss payment options in this S.A.M. Trade review. the company offers only three methods for funding accounts and withdrawing money.
Method | Min Deposit | Deposit Processing | Withdrawal Processing |
Bank Transfer | $20 | 1 – 4 business days | 1 – 4 business days |
Visa / MasterCard | $20 | Within an hour | 1 – 4 business days |
USDT | $50 | Up to 1 business day | Up to 1 business day |
Samtrade Copy Trading Service
CopySam is Samtrade's proprietary copy trading platform, designed to allow traders to follow and automatically replicate the trades of successful investors.
The Financial Commission has approved CopySam and has issued the “Collective Investment Platform Certification” for it.
Key features of CopySam:
- Easy-to-use interface for selecting traders to copy;
- Real-time performance tracking of copied traders;
- Minimum deposit of $100;
- Option to manually close copied trades;
- Detailed statistics and historical performance data.
S.A.M Trade Broker Promotional Programs
Samtrade FX offers several promotional programs, from traditional deposit bonuses to Affiliate program, to attract and retain traders.
- Bonus Accounts: Two account types with $33 or $88 extra funds;
- SamRewards: Earn SamPoints based on your trading activities and receive special gifts;
- Affiliate: Refer new friends and earn up to 100 SamPoints per referral;
- Traders’ Challenge: Trading contests with a $2,000 prize in addition to 1,000 SamPoints.
How to Reach Samtrade Support?
The broker offers 24/5 support through two main channels, including email and a dedicated ticket system.
support@samtradefx.com | |
Ticket | Through the “Contact Us” page |
Samtrade Trust Score
User satisfaction is one of the most important topics in this S.A.M Trade review. The broker doesn’t have profiles on reputable websites like TrustPilot and Reviews.io.
Forex Peace Army has rated Samtrade 2.7 out of 5 based on 3 reviews. While the score may not be indicative about the broker’s reliability, the lack of licensing from top-tier regulators and the MAS probe into the company indicate that users should exercise caution.
Conclusion and Final Words
Samtrade provides an exclusive award-winning copy trading platform, CopySam, with a minimum deposit requirement of $100. The broker also utilizes the robust MT4 for trading services on 80+ instruments across five different asset classes.
Samtrade FX’s ASIC license was revoked and its legal entity in Australia was deregistered. It was under probe for suspicious activities by Monetary Authority of Singapore (MAS) in 2022.
