SAM Trade group includes 2 related companies.
SAM Trade AU - located in Australia, regulated by the Australian Securities and Investments Commission (ASIC).
SAM Trade SVG - legally registered entity located in Saint Vincent and the Grenadines, but not regulated by any government agency.
Unfortunately, AU company has been imposed with trading leverage limitations by ASIC since the end of March 2021.
At the same time, SVG company is free from such restrictions.
SAM Trade group accepts clients from all over the world, excluding USA, Afghanistan, Belarus, Botswana, Brazil, Burundi, Colombia, Congo, Cuba, Egypt, Guinea, Guinea-Bissau, Iran, Iraq, Japan, Lebanon, Liberia, Libyan Arab Jamahiriya, Mali, Nicaragua, Nigeria, North Korea, Pakistan, Somalia, Somali Republic, South Africa, Spain, Sudan, Syrian Arab Republic, Togo, Ukraine, Venezuela, Yemen, Zimbabwe.
Forex broker offers the following underlying assets for trading.
|30+ Currency Pairs||Based on major and minor world currencies.|
|19 Crypto Pairs||Based on Bitcoin, Bitcoin Cash, Binance Coin, Cardano, Aave, Dash, PolkaDot, EOS, Ethereum, Link, Litecoin, Theta, Tron, Uniswap, VeChain, Stellar, Monero, Ripple, Tezos.|
|17 Indice CFDs||Based on baskets of different blue-chip stocks, US Dollar Index and Volatility Index.|
|2 Metal CFDs||Based on Gold and Silver.|
|3 Energy CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
SAM Trade is a forex & CFD broker that offers trading across a range of asset classes on the classic MetaTrader 4 (MT4) trading platform. The brokerage has been in business since 2015 and can therefore be considered a tried and tested broker by now.
With registered offices in both Australia and Saint Vincent and the Grenadines, SAM Trade offers high leverage and very flexible trading conditions for international traders. For Australian traders, however, regulations from the Australian Securities and Investments Commission (ASIC) are abided by, which as of 2021 limits leverage to just 1:30 even for the most liquid trading instruments.
The trading instruments that are available to trade from SAM Trade includes all of the forex pairs one would expect to find, in addition 19 different cryptocurrencies, a decent number of stock indices, as well as CFDs based on precious metals and energy commodities like oil and natural gas.
What’s missing are single stock CFDs and a selection of government bonds, which are commonly offered by other forex brokers we have reviewed here on FX-List.
All of the trading instruments offered can be traded on the MT4, which is the main trading platform offered by SAM Trade. In addition, the broker also offers a copy trading platform known as CopySam. Here, traders can automatically copy trades made by other and more experienced traders, potentially improving their own returns even without much trading experience. Similarly, copy trading platforms like CopySam also open up an opportunity for profitable traders to earn extra income by letting others copy their trades.
Looking at the types of accounts clients can choose between from SAM Trade, we believe there should be something for everyone here. Starting with a commission-free Standard account for a minimum deposit of just USD 10, to a VIP account with the same conditions plus priority customer support, and an ECN account with a minimum deposit of USD 100, commissions from USD 5 and tighter spreads for larger traders. Lastly, the broker also offers a swap-free Islamic account for Muslim traders.
All trading accounts have protections that prevent traders from getting a negative balance in case of losses, and offer relatively tight and floating spreads.
In terms of funding methods, SAM Trade accepts only bank transfer, Visa or MasterCard, and the dollar-pegged cryptocurrency Tether (USDT). The first two payment methods require a minimum deposit of USD 20, while USDT deposits require a minimum of USD 50. Fees charged by the payment provider shall be covered by the client.
For any customer support needs, the main way to contact SAM Trade is via email and a message form on the website. Unfortunately, the broker does not list any direct phone numbers to reach its support department on, and there is no live chat option via the website either.
In conclusion, we see SAM Trade as a decent choice for traders who enjoy trading on the MT4 platform. It could also be a good choice for traders who want access to high leverage from a broker that is registered both offshore and in a regulated jurisdiction like Australia.
What we would have liked to see, however, was a better customer service offering that at the very minimum has a phone number clients can reach the broker on. In addition, a broader selection of trading assets, including a selection of stocks, would have made the broker stand out more compared to its competition.