Is SmartSTP a scam?
Wikilix independent safety report
SmartSTP (smartstp.com) is a high-risk broker we assess as a likely scam. It is run by a Mauritius firm that a Gulf regulator publicly warned about under its previous brand, and clients report that m…
Risk scorecard · each area scored 0 (clean) to 10 (worst)
Broker Summary
What Wikilix has recorded about SmartSTP: its history, the licences it holds, its trading conditions and its fees.
SmartSTP Overview
SmartSTP is an online trading broker that says it offers access to global financial markets through a range of instruments, including forex, indices, stocks, commodities, metals, and cryptocurrencies with CFDs. The website of the broker promotes account types such as Silver, Gold, Platinum, and Islamic accounts, along with web-based and MetaTrader-style trading access, along with a leveraged position up to 1:200. It positions itself as a technology-driven platform meant to support both novice and seasoned traders on a single trading interface, offering analysis tools, account customization, and market access.
Regulation & Safety
SmartSTP claims to be operated by MRL Investments (MU) Ltd, a company registered in Mauritius, supposedly with a Financial Services Commission FSC licence, such as licence GB21027168. This license is issued by a light-touch offshore regulator that does not offer the same kind of investor protections as regulators in major financial centers, such as the FCA, ASIC, or CySEC. Several independent broker-monitoring services notice discrepancies in the regulatory disclosures and question the transparency and real-world oversight behind the licence.
This is because licenses from smaller offshore regulatory bodies tend to provide scant investor protection, so traders on SmartSTP might not benefit from basic protections, such as segregated client funds, compensation schemes, or formal dispute-resolution frameworks.
Trading Products & Conditions
Available Instruments
The SmartSTP marketed product suite generally includes the following:
• Forex Currency Pairs
• CFDs on stocks, indices, commodities, metals, and cryptocurrencies
• Support for multiple asset classes for diversified trading strategies
Platforms & Accounts
The broker says to support web-based trading interfaces and account customization at several tiers, such as Silver, Gold, Platinum tiers. Detailed terms concerning spreads, commissions, order execution, and exact leverage are not well-disclosed, or vary based on the source of a review, and, as such, impossible to check actual trading conditions offered to clients fully.
Minimum Deposit & Fees
Independent analyses show the minimum deposit requirement is at least USD 250, with leverages up to 1:200 for Forex pairs. Deposit and withdrawal fees are not entirely clear, nor transparent, and may involve some charges passed on to clients, depending on the payment methods used.
Reputation & User Reviews
The reputation of SmartSTP is mixed and subject to significant caution from independent reviewers:
• Several third-party review websites label the brokerage firm as either unregulated or suspicious due to a lack of major regulatory oversight combined with inconsistent regulatory disclosures.
User reviews on publicly available review platforms score very low satisfaction, complaining about a problem with accessing accounts, issues with withdrawal, and overall negative experience.
• Some reviews mentioned the broker's structure does not have complete transparency on ownership, operations, and trading conditions, meaning advertised features or protections may not be meaningful in practice.
With these concerns, many analysts and risk-monitoring tools advise exercising extreme caution with SmartSTP, while independent reviewers repeatedly underline that one should opt for brokers whose licenses have been verified by well-recognized regulators.
Pros & Cons
Pros
• Access to several classes of assets: Forex, stocks, commodities, and crypto CFDs.
• Provides several account types that, at least on paper, may fit different trader profiles.
• Use of recognizable trading interfaces: both web and MT-style may be familiar to traders.
Cons
• There is limited or dubious regulatory oversight, based on an offshore licence which has weak investor protections.
• Trading terms, like spreads and quality of execution, are not provided transparently.
• Very low ratings of trust and negative user reviews on independent review platforms.
• Issues reported with the withdrawal process and customers' experience.
Conclusion
SmartSTP claims to be a multi-asset CFD broker with a wide range of instruments and account types. However, without verified regulation from a major financial authority, sparse transparency regarding the trading conditions, and negative reviews from independent reviewers, one can significantly question its legitimacy. The available evidence suggests that traders should use it with extreme caution and consider other brokers with stronger regulatory oversight and clearer public disclosures.
Disclaimer
Trading through brokers with limited regulatory oversight-like SmartSTP-carries a high degree of financial risk. With the lack of strong investor protection, there is no guarantee of the safety of your funds, fair execution of your trades, or recourse in case of disputes. Always verify a broker's regulatory status through official regulatory registers and invest capital you can afford to lose.
Regulatory Licenses
We have not confirmed any regulation for SmartSTP. Money deposited with an unregulated broker is protected only by the company itself.
Trading with an unregulated broker puts your deposit at risk.
No regulation
We have not confirmed any regulation for SmartSTP. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
- No compensation scheme covers your funds.
- No regulator to escalate a complaint to.
- No audit of how client money is held.
Account Types
5 account types on record. Minimum deposit from USD 250. Leverage up to 1:200.
| Account | Min Deposit | Leverage | Commission |
|---|---|---|---|
| Standard | USD 250 | 1:200 | No hidden fees; 0% on deposits |
| PremiumVIP | USD 250 | 1:200 | No hidden fees; 0% on deposits |
| PlatinumVIP | USD 250 | 1:200 | No hidden fees; 0% on deposits |
| IslamicSwap-Free | USD 250 | 1:200 | No hidden fees; 0% on deposits |
| Standard | USD 250 | 1:200 | No hidden fees; 0% on deposits |
Funding Methods
7 ways to fund an account. 3 credit instantly.
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
Credit/Debit Cards (Visa, MasterCard)Credit CardProfits usually withdrawn via bank transfer or e-wallet; deposited funds can be returned to cards; some brokers offer instant withdrawals via cards. | Not recorded | Not recorded | USD 5 | USD 5Not recorded | Instant |
Bank Transfers (International SWIFT, Local Bank Transfers)Bank TransferWithdrawal fees typically $10-$25; some brokers impose monthly or per-transaction caps; processing times vary by broker and region. | Not recorded | USD 10 | USD 100 | USD 100Not recorded | 3 days |
E-wallets (PayPal, Skrill, Neteller, Fasapay, Perfect Money, WebMoney)E-WalletSome brokers offer instant withdrawals via e-wallets; often no withdrawal fees; minimum withdrawal amounts lower than bank transfers. | Not recorded | Not recorded | USD 5 | USD 5Not recorded | Instant |
Cryptocurrencies (Bitcoin, others depending on broker)CryptocurrencyProcessing times vary by cryptocurrency; broker dependent availability. | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | 1 hour |
Local Payment Methods (Apple Pay, Google Pay, Klarna, JCB, Astro Pay)OtherExamples include Apple Pay and Google Pay; processing times and availability depend on region and broker. | Not recorded | Not recorded | Not recorded | Not recordedNot recorded | 24 hours |
Wire TransferWire TransferWithdrawal fees may apply; processing times up to 14 days for some brokers; minimum deposit and withdrawal amounts higher than e-wallets/cards. | Not recorded | Not recorded | USD 100 | USD 100Not recorded | 5 days |
Debit CardsDebit CardProfits withdrawal restrictions similar to credit cards; some brokers offer instant withdrawals via debit cards. | Not recorded | Not recorded | USD 5 | USD 5Not recorded | Instant |
Global Domains
3 domains on record. All active and served over HTTPS.
Corporate Network
One legal entity behind the SmartSTP brand.
- MRL INVESTMENTS (MU) LTDActive
Company Registration
The operating company is MRL Investments (MU) Ltd. Registered in Mauritius. Registration number 187076GBC.
- Legal entity
- MRL Investments (MU) Ltd
- Registration number
- 187076GBC
- Jurisdiction
- Mauritius
- Registry
- Financial Services Commission (FSC) Mauritius, Online Public Register
- Registered address
- 7th Floor, Tower 1, NeXTeracom, Cybercity, Ebene 72201, Mauritius (c/o Safyr Utilis Fund Services Ltd)
Brokers worth comparing
2 other brokers on the record share what SmartSTP offers — its country, regulator, account types or platforms — set beside it on the same measures.
SmartSTP
This recordWikilix score 36.0RegulationNo RegulationMax leverage1:200PlatformsNot recordedLicencesNot recordedPEMAXX GLOBAL
Wikilix score 36.2RegulationOffshoreFSCMax leverage1:500Platforms1Licences1SOOCHOW FUTURES
Wikilix score 35.9RegulationRegulatedTPExMax leverage1:10PlatformsNot recordedLicences2
Frequently Asked Questions
Common questions about SmartSTP





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