Samtrade FX

S.A.M Trade Review: Is S.A.M Trade Broker Good?

Choosing the right broker can help build confidence and increase the chances of making profits, while choosing a bad broker can lead to risks and losses. Therefore, this article has a filter page of important information about brokers to present to traders an overall picture to decide whether this broker is worth using or not. Today's broker is S.A.M Trade.

Broker Overview: Is S.A.M Trade Safe?

S.A.M Trade was established in 2015 as a broker that has tried to build an image for traders by sponsoring football teams Cardiff City and Valencia, which may have some positive effects on credibility. However, there are many other factors that can create credibility, such as licenses and control, legal documents, capital protection, etc. We will take everyone to explore more about these important factors. If you are ready, let's watch together.

Broker Licensing and Regulation

If you ask whether S.A.M Trade is good or not, you should start by considering the license and registration factors first, which are detailed as follows:

• FINANCIAL SERVICES AUTHORITY St Vincent & The Grenadines (FSA) License No. 25290BC2019 under Samtrade FX Ltd.

⚠️Warning: The website of S.A.M Trade broker states that it is regulated by the FCA. However, upon checking, the broker's FCA license has expired, which means that it is not currently under the supervision of the authority. Users should therefore consider and verify the information carefully before deciding to use the service.

S.A.M Trade Products and Services

Trading products

• Forex - S.A.M. Trade has more than 30 currency pairs, both major and minor currencies around the world.

• Index - S.A.M. Trade supports trading in derivatives of various indices around the world such as ASX 200, FTSE CHINA A50, USD INDEX Germany DAX 30.

• Commodities - Commodity CFDs are a form of tradable contracts that serve two main purposes: speculation and hedging. Samtrade offers assets such as gold, silver, crude oil.

• Futures - Trade futures such as Volatility Index (VIXFUTy) Hang Seng China Enterprises (HSCFUTy)

• Cryptocurrencies - Trade CFDs on popular cryptocurrencies including Bitcoin, Ethereum and Litecoin.
  
  
  

Trading Platform

CopySam™

The copy trading platform from S.A.M. Trade allows anyone to invest and earn profits by following top performing traders.

S.A.M Trade Account Type Review

There are 4 types of S.A.M Trade trading accounts as follows:

Standard Account

• Minimum capital: 10 USD

• Spread: Standard

• Maximum leverage: 1:1000

• Commission: None

• Negative balance protection is provided

VIP Account

• Minimum capital: 10 USD

• Spread: Floating

• Maximum leverage: 1:1000

• Commission: None

• Negative balance protection is provided

ECN Account

• Minimum capital: 100 USD

• Spread: Floating

• Maximum leverage: 1:200

• Commission: 5 USD

• Negative balance protection is provided

Islamic Account

• Minimum capital: 10 USD

• Spread: Floating

• Maximum leverage: 1:500

• Commission: None

• Negative Balance Protection

• Swap Free

Deposit and Withdrawal Review

Deposit

Bank transfer

• Processing time: 1 - 4 business days

• Minimum deposit: $20

• Fees: Customer is responsible.

Visa / Master

• Processing time: within one hour (during business days)

• Minimum deposit: $20 or equivalent.

• Fees: Customer is responsible.

Tether (USDT)

• Processing time: Up to 1 business day

• Minimum deposit: USDT 50

• Fees: Customer is responsible.

Withdrawal

Bank transfer

• Processing time: 1 - 4 business days

• Minimum withdrawal amount: Not specified

• Fees: Customer is responsible.

Visa / Master

• Processing time: 1 - 4 business days

• Minimum withdrawal amount: Not specified

• Fees: Customer is responsible.

Tether (USDT)

• Processing time: Up to 1 business day

• Minimum withdrawal amount: Not specified

• Fees: Customer is responsible.

S.A.M Trade Customer Service

• Email :[email protected]

• YouTube :https://www.youtube.com/channel/UCoghMeZq8Pbjwd5eRY5RX5Q

Summary: S.A.M Trade Broker Review: Is It Good?

Information from the overview of S.A.M Trade found that there is only one clear license, FSA St Vincent & The Grenadines, and there is an expired license from FCA. This may be misleading to users. There are many types of trading accounts, supporting Islamic trading accounts, with complete conditions and a copy trading system. Anyone who wants to use the service cannot do so, but should invest in moderation.

Frequently Asked Questions about S.A.M Trade

Q - Is there a fee for opening a trading account?

A - Opening an account with S.A.M. Trade is free.

Q - Residents of which countries are restricted from opening a trading account with S.A.M. Trade?

A - S.A.M. Trade currently does not provide services to residents of the following countries but is not limited to: Afghanistan, Belarus, Botswana, Brazil, Burundi, Colombia, Congo, Cuba, Egypt, Guinea, Guinea-Bissau, Iran, Iraq, Japan, Lebanon, Liberia, Libyan Arab Republic, Jamahiriya, Mali, Nicaragua, Nigeria, North Korea, Pakistan, Rwanda, Somalia, Republic of Somalia, South Africa, Spain, Sudan, Syrian Arab Republic, Togo, Uganda, Ukraine, United States, Venezuela, Yemen, Zimbabwe.

Q - In what currencies can I deposit funds into my trading account?

A - You can deposit in any currency and the funds will be automatically converted to the base currency (USD) of your account. This conversion is based on S.A.M. Trade's available interbank rates.

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S.A.M Trade Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide on the broker that suits your needs.