Note: Regrettably, the official website of SAMAA TRADE, namely https://samaa-trade.com/en/, is currently experiencing functionality issues.
What is SAMAA TRADE？
SAMAA TRADE, a relatively young trading platform established within the past 2-5 years. Based in Kuwait, SAMAA TRADE operates as an unregulated entity. The platform offers traders access to a variety of market instruments including cryptocurrencies, stocks, and commodities. SAMAA TRADE utilizes the trusted MT4 trading platform, providing users with advanced tools and features for efficient trading. Customer support is available via email and phone. However, it is worth noting that there have been reports of their official website being inaccessible.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
Pros of SAMAA TRADE:
- MT4 supported: The platform offers support for the widely popular MT4 trading platform, which provides advanced tools and features for efficient and customizable trading.
- Phone and email support available: Traders have access to customer support via phone and email, which can be helpful for addressing any concerns or issues.
Cons of SAMAA TRADE:
- Not regulated: SAMAA TRADE operates as an unregulated entity, which means there is no official oversight or protection for traders. This will raise concerns about the transparency and security of the platform.
- Higher spreads: Compared to some other brokers, SAMAA TRADE reportedly has higher spreads of 1.7 pips, which can impact the overall cost of trading and potentially reduce potential profits.
- Inaccessible website: There have been reports of the SAMAA TRADE website being inaccessible, which can cause inconvenience and hinder access to essential information and services.
- Limited trust: Due to the lack of regulation and reports of an inaccessible website, there is limited trust and confidence in SAMAA TRADE as a reliable and reputable trading platform.
Is SAMAA TRADE Safe or Scam？
SAMAA TRADE lacks regulatory oversight and is not subjected to supervision from any official financial authority or regulatory body. Operating without regulation means that SAMAA TRADE operates independently without adhering to the stringent regulatory standards put in place to protect traders and ensure fair trading practices.
Moreover, the fact that their official website is inaccessible raises concerns about the reliability of their trading platform. These factors contribute to a higher level of risk associated with investing in SAMAA TRADE.
If you are considering investing with SAMAA TRADE, do your own research and carefully evaluate the potential risks compared to the potential rewards before making any final decisions. In general, it is advisable to select brokers that are properly regulated to ensure the safety of your funds.
Market Instruments
SAMAA TRADE offers a diverse range of trading instruments across various asset classes, providing traders with opportunities in different market segments.
- Cryptocurrencies: SAMAA TRADE allows traders to participate in the growing cryptocurrency market. Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple can be traded as CFDs (contracts for difference). This means traders can speculate on the price movements of cryptocurrencies without owning the underlying assets.
- Stocks: SAMAA TRADE provides access to a range of stocks from global exchanges. Traders can trade stocks of renowned companies across different industries, allowing them to diversify their portfolio and benefit from potential price fluctuations in the stock market.
- Commodities: SAMAA TRADE offers trading in commodities, allowing traders to speculate on the price movements of commodities such as gold, silver, oil, natural gas, and more. Commodities provide opportunities for diversification and can serve as a hedge against inflation or geopolitical risks.
Account Types
SAMAA TRADE offers three different account types: GOLD, SILVER, and BRONZE. Each account has its own minimum deposit requirement and likely comes with varying features and benefits.
- Minimum deposit requirement: $10,000
- This account type offers premium features and benefits, such as lower spreads, personalized customer support, access to exclusive research and analysis, and possibly higher leverage options.
- Minimum deposit requirement: $5,000
- The SILVER account offers a balance between premium features and accessibility.
- Minimum deposit requirement: $300
- The BRONZE account is the entry-level option with a lower minimum deposit requirement.
Leverage
SAMAA TRADE offers a maximum leverage of 1:200 to its clients. Leverage is a tool that allows traders to control larger positions in the market with a smaller amount of capital. In this case, for every $1 of the trader's capital, they can control up to $200 worth of positions.
High leverage can be attractive to traders as it allows them to amplify potential profits. A small movement in the market can result in a significant gain. However, it is crucial to understand that leverage also magnifies losses. Even a small adverse move in the market can lead to substantial losses, potentially exceeding the initial investment.
Spreads & Commissions
AMAA TRADE offers different spreads for each account type. The spread is the difference between the buy and sell price of a financial instrument and represents the cost of trading. In this case, the spreads for each account are as follows:
GOLD Account: 1.7 pips
SILVER Account: 1.7 pips
BRONZE Account: 2.8 pips
Regarding commissions, they are unavailable due to the current limitation of accessing the website. Typically, brokers can have different fee structures, including commissions charged on trades or alternative pricing structures integrated into the spread.
Trading Platforms
SAMAA TRADE provides its clients with the widely acclaimed MetaTrader 4 (MT4) trading platform. MT4 is a popular and user-friendly platform known for its advanced charting tools, technical analysis capabilities, and automated trading features. The platform offers a wide range of tools and resources to assist traders in making informed decisions and executing trades effectively.
Traders using SAMAA TRADE's MT4 platform have access to real-time pricing of financial instruments, including forex, commodities, indices, and more. The platform's intuitive interface allows for seamless navigation and quick execution of trades. Additionally, it offers a comprehensive suite of technical indicators and charting tools that enable in-depth market analysis and the development of trading strategies.
Deposits & Withdrawals
SAMAA TRADE offers multiple options for both depositing and withdrawing funds, ensuring convenience and flexibility for its clients. Traders can choose from various payment methods to manage their trading accounts efficiently.
- Credit Cards: SAMAA TRADE accepts deposits and withdrawals through major credit cards like Visa and Mastercard. Traders can securely transfer funds using their credit cards, providing a quick and convenient payment option.
- Wire Transfers: Traders can opt for wire transfers to deposit or withdraw funds from their SAMAA TRADE trading accounts. Wire transfers are a reliable and traditional method of transferring funds between banks. While it can take longer for the transfer to reflect in the trading account compared to other methods, this option is suitable for larger transactions or for those who prefer bank-to-bank transfers.
- Neteller: SAMAA TRADE supports deposits and withdrawals via Neteller. Neteller is an e-wallet that allows users to store, send, and receive funds securely. It provides instant deposits and fast withdrawals, making it a popular choice among traders.
- Skrill: Traders can also use Skrill as a payment method for deposits and withdrawals. Skrill, similar to Neteller, is an e-wallet that provides a quick and secure way to transfer funds. It offers various funding options, including credit cards and bank transfers, giving traders flexibility in managing their accounts.
Customer Service
Customers can get in touch with customer service line using the information provided below:
Telephone: +97145734686
Email: support@samaa-trade.com
Conclusion
In conclusion, SAMAA TRADE offers trading in cryptocurrencies, stocks, and commodities with leverage and MT4 support. However, they are unregulated, have higher spreads compared to some other brokers, and their official website is currently inaccessible. Therefore, caution should be exercised when considering the safety and trustworthiness of SAMAA TRADE as an investment option.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
