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Contract reading

What Tradesmart legally published, but does not want you to read

Every clause below is published by Tradesmart itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: TradeSmart Capital Limited

marketing contradictionsole discretionhidden feedeemed acceptancedispute barrierwithdrawalsbonus lockclient moneycomplaint deadlinecontradictory documents

TradeSmart promises negative balance protection and segregated client money on its website. The client agreement makes you liable for every deficit and transfers ownership of your margin to the company. You get two business days to object to a statement before it binds you. Five months without a trade costs 20% of your balance to get the account back.

Back to Tradesmart

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
7
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
22
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
12
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
10

How the 22 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical7
Warning11
Notice4

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

3 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical2 working daysTime to complain. Jump to the clause this comes from.Two business days to object or the statement standsCritical20%Fee on an unused account. Jump to the clause this comes from.Five months idle, then 20% of your balance to returnCritical$6Bonus requirement. Jump to the clause this comes from.The instant bonus arrives only after the full volume target7 daysIn the contract. Jump to the clause this comes from.No swaps on FX, for the first seven days

What the documents say

22 clauses worth knowing about, worst first, each quoted from Tradesmart's own files

01

TradeSmart promises negative balance protection on its website, meaning it absorbs a loss that pushes your account below zero. The client agreement says the opposite: you stay liable for the whole deficit, on demand.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

A sudden gap in price on a leveraged trade can leave your account below zero. TradeSmart can then ask you for that money, and the promise you read before depositing is nowhere in what you signed.

Exhibit 1CriticalHarder than usual

The CLIENT shall always be liable for the payment of any deficit balance of the CLIENT upon demand by TRADESMART and in all cases, CLIENT shall be liable for any deficiency remaining in CLIENT’s account(s) in the event of the liquidation thereof in whole or in part by TRADESMART or by the CLIENT.
Clause 12.9 in Account Opening Agreement, p.18
Read from the broker's site on Open the reference
Our own capture of tradesmart.com, taken on Oct 9, 2026The claim, on Security of Funds page, under the heading How We Keep Your Funds SafeVisit this page on the broker's siteDownload the full size image file
Set against a regulated standard: FCA (UK), ESMA (EU), CySEC (Cyprus)

Firms licensed by the FCA and firms under the ESMA rules must give retail clients negative balance protection, so a retail client cannot lose more than the money in the account. CySEC applies the same limit. TradeSmart says it treats every client as retail, then makes that client liable for any deficiency remaining in the account.

Tradesmart is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 18With no protection against a negative balance, a stop out level TradeSmart can move without notice decides how large your debt becomes.
02

TradeSmart takes full ownership of the cash you post as margin, and clause 10.11 says it is no longer treated as belonging to you. Another clause lets TradeSmart pledge, lend or invest your property, to itself or to anyone else.

In plain words

Liquidity providers are outside banks and brokers.

Why this matters

Money you no longer own is not sitting in an account with your name on it if TradeSmart fails. The website tells you client funds are kept entirely separate from the company's own and used for nothing else.

Exhibit 2CriticalRarely seen

The CLIENT trading on the TRADESMART Direct platform agrees to the transfer of full ownership of funds to TRADESMART for the purpose of securing or otherwise covering the required margin and as such the required margin will no longer be treated as belonging to the CLIENT.
Clause 10.11 in Account Opening Agreement, p.16
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), ESMA (EU)

Firms licensed by the FCA must hold retail client money in segregated client accounts and may not take title to it under a collateral arrangement. The ESMA rules bar the same arrangement with retail clients across the EEA. This contract transfers ownership of the margin to TradeSmart and lets it pledge or lend client property to itself.

Tradesmart is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingA title transfer collateral arrangement moves client money onto the firm's own balance sheet, and rehypothecation lets the firm reuse it as its own collateral. Both come from prime broking between professional institutions. In a retail account they turn your deposit into a claim against the company rather than property it holds for you.

  • Worse together with Exhibit 15Ownership of the margin passes to TradeSmart, and whatever is left over sits under a general lien it can apply without telling you.
03

You get two business days to object to a trade confirmation or an account statement. After that, clause 14.6 treats it as correct and binding on you, and clause 14.3 counts it as received whether or not you opened it.

Why this matters

A wrong price or a trade you never placed becomes final in two business days. The clock runs from when TradeSmart posts the statement, so being away, ill or logged out costs you the right to argue.

Exhibit 3CriticalRarely seen2 working days

Reports of the confirmation of orders and statements of accounts for the CLIENT posted online by TRADESMART shall be deemed correct and shall be conclusive and binding upon the CLIENT if not objected to within two (2) business days of the posting online.
Clause 14.6 in Account Opening Agreement, p.23
Read from the broker's site on Open the reference

What it costsA statement posted on Friday evening is conclusive by Tuesday evening. Someone who next opens the portal at the weekend has already lost the right to object.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must keep a complaints route open to retail clients for months, not days, and must point them to an independent scheme once the firm has answered. This contract makes an unanswered statement binding after two business days and names no outside scheme.

Tradesmart is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingMost retail agreements give 30 days or more to query a statement. Two business days can pass over a single weekend, and the companion clause starts the clock at posting rather than at reading, so silence from someone who never saw the document counts as agreement.

04

Stop trading for five months and TradeSmart archives your account and removes it from its system. Getting it back costs 20% of your balance.

In plain words

Dormancy means an account left unused.

Why this matters

A $5,000 account left alone for five months costs you $1,000 to reopen. The agreement never says what happens to your money if you do not ask for it back.

Exhibit 4CriticalRarely seen20%

No financial transactions have been made in the last five (5) months.
Clause 46 in Account Opening Agreement, p.56
Read from the broker's site on Open the reference

What it costsA balance of $5,000 untouched for five months is archived. Reinstating it costs $1,000, which is 20% of the balance.

Our readingDormancy charges are normally a small flat monthly amount that stops when the balance runs out. A fee set as a share of the balance has no ceiling, so the more money you left behind, the more you pay to reach it.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Month 5With no transactions and no trades, TradeSmart treats the account as dormant.46
On dormancyTradeSmart archives the account and removes it from the system.46
On returnReinstatement costs a fee equal to 20% of the account balance.46
05

The account comparison table tells you hedging, scalping and automated trading are allowed on every account. Clause 18.1.4 lets TradeSmart remove your profits and close all your accounts where it suspects you hedged between your own accounts or alongside anyone else.

Why this matters

Profits you have already banked can be taken back on suspicion, with no finding of wrongdoing. Clause 18.3 says TradeSmart is under no obligation to tell you why it did it.

Exhibit 5CriticalHarder than usual

If the Company suspects, or has reasonable grounds to believe, that the CLIENT has engaged in market abuse or manipulation — including but not limited to hedging positions internally (between multiple accounts under the same profile) or externally (in coordination with other CLIENTS or third parties) — the Company may, at its sole discretion, cancel aected trades, remove any associated profits, and/or terminate the CLIENT's account(s).
Clause 18.1.4 in Account Opening Agreement, p.30
Read from the broker's site on Open the reference
  • Worse together with Exhibit 3Profits can be removed on suspicion, and the window to object to the statement showing the removal closes two business days after it is posted.
06

The bonus page says your 120% bonus is credited instantly. The terms say it is not added to your balance or equity until the whole volume requirement is finished, and it converts at $6 of bonus per standard lot traded.

Why this matters

Deposit $1,000 and you are promised $1,200, but you must trade 200 standard lots before any of it reaches your balance. Move money out and clause 2.11 cuts the progress you have already built.

Exhibit 6CriticalHarder than usual$6

TradeSmart 120% Cash Bonus is not added to the Balance or Equity of the trading account until the volume requirement is completed.
Clause 2.1 in 120% Cash Bonus, p.2
Read from the broker's site on Open the reference

What it costsA $1,000 deposit earns a $1,200 bonus. At $6 of bonus per standard lot that is 200 lots, roughly $20 million of traded volume, before the bonus is credited.

  • Worse together with Exhibit 5Suspicion alone lets TradeSmart void the bonus, every transaction on the account and any profit earned with it.

TradeSmart can hold disputed money with no deadline, and its two withdrawal policies disagree

Clause 4.2 of the Refund Policy lets TradeSmart withhold disputed funds until its investigation concludes, and clause 4.3 lets it close your account for starting the dispute. TradeSmart publishes two documents covering withdrawals and they contradict each other on who pays the fees. Standard processing is the next business day, which is faster than most.

Getting paid2 clauses flagged

Raise a dispute with your bank or card issuer and TradeSmart can hold the disputed money until its investigation ends. No clause puts a deadline on that investigation, and a separate clause lets TradeSmart close your account for starting the dispute.

Why this matters

The one route you have outside TradeSmart to challenge a payment is the same route that can cost you the account. Your money stays with TradeSmart while that runs, for as long as it takes.

Exhibit 7CriticalHarder than usual

The Company maintains the authority to retain or withhold any disputed funds until the conclusion of the investigation.
Clause 4.2 in Refund Policy, p.6
Read from the broker's site on Open the reference
  • Worse together with Exhibit 12A withdrawal can be cancelled over stale identity documents, and disputing the payment instead puts the account itself at risk.

TradeSmart publishes two documents governing withdrawals and links both from the same page. One says it partly covers withdrawal fees for certain providers. The other says those fees are not covered by the company at all.

Why this matters

You cannot tell from the contract whether a withdrawal fee comes out of your money or TradeSmart's. The payment table on the site shows no withdrawal fee either way.

Exhibit 11WarningHarder than usual

Any charges applied are from the Payment Service Provider, Bank, or Credit Card Company. The Company covers charges for deposits and partially covers withdrawal fees for certain payment providers.
Clause 2.10 in Refund Policy, p.4
Read from the broker's site on Open the reference

The two protections TradeSmart advertises are the two its contract removes

TradeSmart promises negative balance protection on three separate pages and NO SWAPS on FX on its homepage. Clause 12.9 of the client agreement makes you liable for any deficit, and clause 45.4 limits swap free trading to seven days. Both promises sit where you decide to deposit, and are withdrawn where you agree to terms.

Promise against contract1 clause flagged

The homepage says NO SWAPS on FX. The client agreement gives you a 7 day swap free window, leaves Micro accounts out of it, and applies standard swap fees after that.

Why this matters

Hold an FX position past the first week and you pay overnight financing that TradeSmart sets at its own absolute discretion. On a Micro account you pay it from the first night.

Exhibit 10WarningHarder than usual7 days

The Company oers a 7-day swap-free period to clients on all FX open positions, available to all account types except Micro. The client acknowledges and agrees that, after this 7-day grace period, standard swap fees will apply.
Clause 45.4 in Account Opening Agreement, p.55
Read from the broker's site on Open the reference

The page listing TradeSmart's fees does not exist

Three clauses of the TradeSmart client agreement point to a Trading Conditions and Charges page for every fee and spread, and no such page is on the site. Clause 13.5 lets TradeSmart introduce new charges by posting them. A free VPS can turn into a $110 monthly charge taken from your trading account.

Cost disclosure2 clauses flagged

Three clauses of the client agreement send you to a Trading Conditions and Charges page for every fee and every spread. No such page exists anywhere on tradesmart.com.

Why this matters

You cannot read what TradeSmart charges before you trade, because the document meant to list it is missing. Clause 13.5 also lets TradeSmart add new charges by posting them on the website.

Exhibit 9WarningHarder than usual

Fees arising out of TRADESMART providing services are outlined in the Trading Conditions and Charges page.
Clause 13.1 in Account Opening Agreement, p.19
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC must give a retail client the costs and charges of a service before that client trades. This contract names a charges page as the place to find them, and that page is not on the site.

Tradesmart is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 14The fee list is not published anywhere, and new charges take effect by being posted on the website you are expected to check.

Miss the monthly trading volume for your free VPS and TradeSmart switches you to the paid service automatically, at up to $110 a month. It takes the fee from your wallet, or from your trading account when the wallet is empty.

Why this matters

Money you set aside for trading can be spent on hosting you never reordered. If the renewal fails for want of funds, the server is deleted with no backup kept.

Exhibit 13WarningHarder than usual$110

If the conditions outlined for receiving free VPS service are not met, the Client will transition to a paid VPS service automatically. The Client hereby consents to the corresponding fee being deducted from their balance as specified in 3.3.
Clause 3.7 in VPS Hosting T&Cs, p.4
Read from the broker's site on Open the reference

What it costsA Pro package costs $110 a month once the free conditions lapse. Three quiet months take $330 out of the trading account without a new order from you.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
At sign upA deposit of $2,000, $5,000 or $25,000 makes the matching VPS package free.3.5
Each monthKeeping it free needs 8, 12 or 20 standard round turn lots in the past calendar month.3.6
On a missTradeSmart moves you to the paid service automatically and charges the monthly fee.3.7
Empty walletTradeSmart takes the fee from your trading account instead.3.7
At renewalWithout enough funds the service ends and the server is deleted with no backup.6.3

TradeSmart can take back profits on suspicion alone

Clause 18.1.4 lets TradeSmart remove your profits and close your accounts where it suspects hedging between your own accounts or with other people, which the account comparison table advertises as allowed. Clause 18.1.3 adds profit revocation without prior notice. On Islamic accounts, clause 23.5 lets TradeSmart reclaim waived interest retroactively.

Profit at risk1 clause flagged

Hold a position on an Islamic account for more than 14 days and a carry over charge applies. TradeSmart can also turn the account back into a regular one and recover the interest it had waived, going backwards.

Why this matters

Interest you were told you would never pay can be taken out of your balance months later. The same clause lets TradeSmart cancel transactions and adjust your account balance to match.

Exhibit 16WarningHarder than usual14 days

In the event that the CLIENT designates its account as an Islamic account, the CLIENT may not keep transactions in such account open for more than 14 days and may not otherwise abuse such benefit or there would be a carry-over charge.
Clause 23.3 in Account Opening Agreement, p.38
Read from the broker's site on Open the reference
  • Worse together with Exhibit 10The homepage advertises no swaps on FX, while one clause limits that to seven days and another claws back waived interest after the fact.

Both TradeSmart bonuses advertise a freedom the terms take back

The 120% Cash Bonus page says the bonus is credited instantly, while clause 2.1 keeps it out of your balance until the entire volume requirement is done at $6 of bonus per standard lot. The SmartBoost page says bonus profits can be withdrawn without restrictions, and clause 3.9 removes the whole bonus as soon as you withdraw anything.

Bonus mechanics1 clause flagged

The SmartBoost page says profits from bonus trading can be withdrawn without restrictions. Two clauses later the same terms strip the entire bonus the moment you withdraw or transfer anything after trading has started.

Why this matters

The bonus is the cushion holding your open trades, so taking profit shrinks the margin behind them. TradeSmart accepts no liability for a stop out that follows.

Exhibit 17WarningStandard wording

Profits earned from trading with the Trading Bonus can be withdrawn without restrictions.
Clause 3.8 in SmartBoost 100% Bonus, p.3
Read from the broker's site on Archived copyOpen the reference

TradeSmart can rewrite the terms, your leverage and your account type without telling you

Clause 40.2 lets TradeSmart change the agreement by posting it on the website, binding you from that date. Object, and clause 40.4 gives you ten business days to close out and leave. Clause 45.1 lets it move the 20% stop out level at any time, and clause 10.3 lets it shift your money between your accounts without notice.

What can change3 clauses flagged

TradeSmart can change your agreement at any time and tell you by putting it on its website. You are bound from that date, whether or not you saw it.

Why this matters

If you object, the only route the contract gives you is to close every position and empty the account within ten business days. Carrying on under the terms you originally agreed is not an option.

Exhibit 14WarningHarder than usual10 working days

TRADESMART will provide notice to the CLIENT of any such amendment or change by posting the amendment or change on TRADESMART 's website or by sending an e-mail message to the CLIENT at any time without prior notice.
Clause 40.2 in Account Opening Agreement, p.52
Read from the broker's site on Open the reference

Everything TradeSmart holds for you sits under a general lien and a right of set off for anything you owe it. It can move your money between your accounts at any time without telling you.

Why this matters

A balance you were keeping for one purpose can be applied to another without warning. TradeSmart is also appointed as your attorney in fact, so it can sign documents and act in your name.

Exhibit 15WarningHarder than usual

TRADESMART may at its discretion, at any time and from time to time, without notice to the CLIENT, apply and/or transfer any or all funds or other property of the CLIENT between any of the CLIENT’s accounts.
Clause 10.3 in Account Opening Agreement, p.14
Read from the broker's site on Open the reference

TradeSmart sets the margin call at 50% and the stop out at 20%, and can move both at any time without telling you. If it decides your balance is too high for your leverage, it can cut the leverage or move you to a different account type.

Why this matters

A stop out level that moves while you hold a position changes the point at which your trades are closed. The 1:2000 leverage advertised on the Micro account can be reset without warning.

Exhibit 18WarningHarder than usual20%

The Client agrees that (a) the Margin call on all accounts shall be fifty per cent (50%) (b) the Stop-out level on all accounts shall be twenty per cent (20%), as may be changed from time to time by the Company, at its sole and absolute discretion, at any time, without a prior notice.
Clause 45.1 in Account Opening Agreement, p.54
Read from the broker's site on Open the reference

Three days to refresh a document or lose the withdrawal

Clause 3.1 of the TradeSmart Refund Policy cancels a withdrawal request if you do not supply fresh identity documents within three days. It applies to documents merely close to expiration, a phrase the policy never defines. Only fully verified accounts may request a withdrawal at all.

Verification deadlines1 clause flagged

If TradeSmart decides your identity documents have expired or are close to expiring, you have three days to send new ones. Miss that and it cancels your withdrawal and returns the money to your wallet.

Why this matters

Renewing a passport takes weeks, and close to expiration is not defined anywhere in the policy. The deadline can land on a withdrawal you have already asked for.

Exhibit 12WarningHarder than usual3 days

The Client must provide these within three days; failure to do so will result in the cancellation of the withdrawal request, and the funds will be reverted to the Client's wallet.
Clause 3.1(i) in Refund Policy, p.5
Read from the broker's site on Open the reference

TradeSmart takes ownership of your margin and keeps the price moves that go your way

Clause 10.11 transfers full ownership of your margin to TradeSmart, and clause 10.4 lets it pledge or lend your property to itself or to others. Clause 19.8 keeps any favourable price move before your order fills, while clause 19.9 lets TradeSmart decline a trade that would narrow its spread. The website says client funds are kept entirely separate from the company's own.

Who owns your money1 clause flagged

When the price moves your way before TradeSmart accepts your order, clause 19.8 fills you at your price and not better, and lets TradeSmart keep the difference. Clause 19.9 lets it refuse a trade that would narrow its own spread and send you a fresh quote instead.

Why this matters

Every favourable price move before your fill belongs to TradeSmart, while a trade that would cost it money can be declined. The homepage promises execution with no requotes.

Exhibit 8WarningRarely seen

CLIENT agrees that TRADESMART will execute the closing transaction at the CLIENT’s specified price and not beer. CLIENT agrees that TRADESMART can retain such price movement for its own account.
Clause 19.8 in Account Opening Agreement, p.33
Read from the broker's site on Open the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA and CySEC owe retail clients best execution and must pass on price improvement rather than keep it. This contract says TradeSmart retains the price movement for its own account.

Tradesmart is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingKeeping positive price movement while reserving the right not to execute trades that reduce the firm's own spread makes the discretion run one way only. The same clause set also lets TradeSmart widen spreads for one named client rather than for the whole book, which is unusual to find written down.

You have two business days to challenge anything TradeSmart posts

Clause 14.6 makes every trade confirmation and account statement conclusive and binding on you after two business days. Clause 14.3 counts those documents as received whether or not you opened them. Partners get five days to bring a claim, and claims for lost profits are not considered at all.

Exit from a dispute1 clause flagged

If you introduce clients to TradeSmart, you must bring any claim within five days of learning your rights were breached. Claims for lost profits are not considered, and TradeSmart caps its liability at one month of your commission.

Why this matters

A withheld commission has to be challenged almost immediately or not at all. The most you can recover is what TradeSmart paid you in the previous month.

Exhibit 19NoticeHarder than usual5 days

The injured Party shall submit the claim within five (5) days of becoming aware of the violation of its rights.
Clause 19.4 in Partners Agreement, p.20
Read from the broker's site on Open the reference

Saint Lucia law, Saint Lucian courts, nobody above TradeSmart

Clause 43.1 puts the TradeSmart client agreement under the law of Saint Lucia and sends disputes to its courts. The Partners Agreement goes further and waives any objection to that forum. No regulator, ombudsman or compensation scheme appears in any of the documents.

Where you would sue1 clause flagged

Your contract runs under the law of Saint Lucia and disputes go to its courts. No regulator, ombudsman or compensation scheme is named in any of the documents.

Why this matters

If TradeSmart refuses to pay you, there is no authority above it to appeal to. Your remaining route is a court case in the Caribbean.

Exhibit 20NoticeStandard wording

This Agreement, the rights and obligations of the parties hereto, and any judicial or administrative action or proceeding arising directly or indirectly hereunder or in connection with the transactions contemplated hereby shall be governed by, construed and enforced in all respects in accordance with the laws of Saint Lucia and TRADESMART and the CLIENT hereby irrevocably submit to the nonexclusive jurisdiction of the Saint Lucia’ s Courts.
Clause 43.1 in Account Opening Agreement, p.54
Read from the broker's site on Open the reference

Three company names, one Saint Lucia registration, no licence

Every TradeSmart document footer names TradeSmart Capital Limited, while the client agreement itself is signed with TradeSmart Ltd and other policies say TradeSmart Limited. All give registration number 2024-00075 in Saint Lucia, except clause 2.1, which prints it as 2024-00. No document names a financial regulator, and two different Risk Disclosures are live on the site at once.

Who you contract with2 clauses flagged

The documents name TradeSmart Capital Limited, TradeSmart Ltd and TradeSmart Limited for the same business. The contract you sign is with TradeSmart Ltd, and clause 2.1 of that contract prints the registration number as 2024-00.

Why this matters

Knowing which company holds your money matters if you ever have to chase it. No document names a financial regulator, a licence number or a compensation scheme.

Exhibit 21NoticeHarder than usual

This is a legal contract between TradeSmart Ltd, incorporated within Saint Lucia, Meridian Place, Choc Estate, Castries, with Registration No 2024-00075
Clause Client Agreement in Account Opening Agreement, p.5
Read from the broker's site on Open the reference

The risk warning at the foot of every page links one Risk Disclosure. The Legal Documents page links a different one. The footer version covers cryptocurrency trading and the other does not.

Why this matters

You cannot tell which disclosure forms part of your contract, and the two describe different products. The client agreement itself no longer mentions cryptocurrency at all.

Exhibit 22NoticeHarder than usual

the provision of brokerage, training and managed account services in currencies, commodities, indices, metals, CFDs, cryptocurrencies and other leveraged financial instruments.
Clause 1.2 in Risk Disclosure., p.2
Read from the broker's site on Open the reference

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The website says no client repays a negative balance, and the contract says the client is always liable for it.

Said in public, in English

Our negative balance protection policy ensures that even in volatile conditions, no client is held responsible for repaying a negative balance.

Security of Funds page, under the heading How We Keep Your Funds Safe

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of tradesmart.com

In the contract · clause 12.9

The CLIENT shall always be liable for the payment of any deficit balance of the CLIENT upon demand by TRADESMART and in all cases, CLIENT shall be liable for any deficiency remaining in CLIENT’s account(s) in the event of the liquidation thereof in whole or in part by TRADESMART or by the CLIENT.

02

Every account type is advertised with negative balance protection while the Risk Disclosure makes the client liable for the deficit.

Said in public, in English

Negative Balance Protection

Account comparison table, Negative Balance Protection row, marked Yes for the Micro, Standard, Raw and VIP accounts

In the contract · clause 3.1(o)

Failure to do so within the time required may result in the liquidation of positions at a loss, and he will be liable for any resulting deficit.

03

Funds are advertised as separate from the company's own and safeguarded against other use, while the contract transfers ownership of the margin and lets the company lend client property.

Said in public, in English

All clients’ funds are kept in segregated accounts, entirely separate from our own, ensuring dedicated use for payment transactions and safeguarding against any other utilization.

Security of Funds page, Segregated Client Accounts panel

In the contract · clause 10.11

The CLIENT trading on the TRADESMART Direct platform agrees to the transfer of full ownership of funds to TRADESMART for the purpose of securing or otherwise covering the required margin and as such the required margin will no longer be treated as belonging to the CLIENT.

04

Hedging and scalping are advertised as allowed on every account while the contract treats hedging as market abuse punishable by profit removal and account closure.

Said in public, in English

EAs/Scalping/Hedging/News Trading Allowed

Account comparison table, trading styles row, marked Yes for all four account types

In the contract · clause 18.1.4

If the Company suspects, or has reasonable grounds to believe, that the CLIENT has engaged in market abuse or manipulation — including but not limited to hedging positions internally (between multiple accounts under the same profile) or externally (in coordination with other CLIENTS or third parties) — the Company may, at its sole discretion, cancel aected trades, remove any associated profits, and/or terminate the CLIENT's account(s).

05

The bonus page promises the money appears instantly on deposit, and the terms withhold it from the balance until the entire volume requirement is finished.

Said in public, in English

Deposit funds and see the bonus amount instantly.

120% Cash Bonus page, How 120% Bonus Works, second step

In the contract · clause 2.1

TradeSmart 120% Cash Bonus is not added to the Balance or Equity of the trading account until the volume requirement is completed.

06

The homepage advertises no swaps on FX while the contract limits swap free trading to seven days and excludes Micro accounts.

Said in public, in English

No hidden fees. No surprises. NO SWAPS on FX

Homepage, Transparent Pricing panel

In the contract · clause 45.4

The Company oers a 7-day swap-free period to clients on all FX open positions, available to all account types except Micro. The client acknowledges and agrees that, after this 7-day grace period, standard swap fees will apply.

07

Execution is advertised with no requotes while the contract lets the broker decline a trade and send an amended quote instead.

Said in public, in English

Experience fast, reliable execution with no requotes.

Homepage, Advanced Trade Execution panel

In the contract · clause 19.9

Therefore, in case the fair market price reduces TRADESMART’s spread in a specific transaction, TRADESMART may, at its sole discretion, choose not to execute such transaction, in which case TRADESMART may send the CLIENT an amended quote for his consideration.

08

The homepage promises no hidden fees while the contract points to a charges page that does not exist on the site.

Said in public, in English

No hidden fees. No surprises.

Homepage, Transparent Pricing panel

In the contract · clause 13.1

Fees arising out of TRADESMART providing services are outlined in the Trading Conditions and Charges page.

09

Bonus profits are advertised as withdrawable without restrictions while any withdrawal removes the whole bonus.

Said in public, in English

From trading with the Trading Bonus can be withdrawn without restrictions.

SmartBoost Bonus page, under the heading Profits earned

In the contract · clause 3.9

Any withdrawal or transfer of funds from the bonus account after trading has begun will result in the full removal of the Trading Bonus.

10

The bonus is sold on having no hidden rules while its terms can be rewritten at the company's discretion without notice.

Said in public, in English

No hidden rules, clear guidelines.

120% Cash Bonus page, Fully Transparent panel

In the contract · clause 3.1

The company reserves the right to either modify or amend the terms of the Bonus program at its discretion, without prior notice.

What changed quietly

First review of TradeSmart, so no earlier review exists for comparison.

  • REWRITTENClause 2.6

    Switching the divisor from the deposit to the bonus raises the volume you must trade by 20% to unlock the same money.

    Bonus amount / 6 = Number of eligible lots required for completion of the Bonus volume requirement.

  • REMOVEDClause

    The bank card withdrawal route was dropped from the Refund Policy, and the published payment table now offers cryptocurrency only.

  • REWRITTENClause Important Notices

    Cryptocurrency was removed from the products the client agreement covers, while the Risk Disclosure linked at the foot of every page still covers it.

    There are no guarantees as to the creditworthiness of the counterparty of your Forex, CFDs.

The documents this reading is based on

12 files, all published by Tradesmart. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording Tradesmart publishes.

How this reading was done

Every clause above was read out of a document Tradesmart publishes itself

This reading was published on .

Documents
11 of 12downloaded from the broker's site, and 11 read in full
Pages opened
45pages walked to find those documents, footer links included
Older copies
4earlier versions downloaded
Marketing pages
11public pages set against what the contract says

Who the contract is with

TradeSmart Capital Limited

Three names appear for one business. Every document footer and the website say TradeSmart Capital Limited, registration number 2024-00075 in Saint Lucia. The contract you sign names TradeSmart Ltd, and the Risk Disclosure, Withdrawal Policy, Privacy Policy and Partners Agreement say TradeSmart Limited. Clause 2.1 of that contract prints the registration number as 2024-00. No document names a financial regulator, a licence number or a compensation scheme. The footer gives an operating address in Sofia, Bulgaria, while the same footer says TradeSmart does not serve residents of the EEA, where Bulgaria sits.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

TradeSmart claims no licence it does not hold. No regulator, no licence number and no invented supervision appears on the site or in the documents, which is more honest than most offshore brokers manage. All ten legal documents sit on one page, free to download. Standard withdrawal processing is the next business day, faster than most of the industry. TradeSmart covers deposit charges itself, clause 3.1 treats every client as retail whatever their home country would call them, and neither bonus carries a time limit.

This review covers all eleven current legal documents in full. We also found five more documents TradeSmart publishes that were not in the first set, all still live on its own sitemap: earlier copies of the client agreement, the Refund Policy, the Partners Agreement and the 120% Cash Bonus terms, plus separate terms for a monthly trading competition that the Legal Documents page does not list. The review covers the earlier bonus terms in full and parts of the earlier client agreement and Refund Policy, but not the earlier Partners Agreement or the competition terms. One clause of the earlier client agreement, 18.1.4, is not readable in order, so it is not compared line by line. The fee page that TradeSmart's contract points to three times does not exist, so its charges are not covered. There is no copy trading document to read, although the site sells copy trading. We did not test the country list in the signup form, which sits behind opening an account.

How to check any of this yourself

Every quote above links to the Tradesmart file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document Tradesmart publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge Tradesmart on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Oct 9, 2026.

If you represent Tradesmart and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on Tradesmart. Whether its licence is real and current is a separate check on the broker profile.

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