SimpleFX Review

Review sections

• Investor Protection & Regulations
• Tradable Products
• Account Opening
• Deposit & Withdrawals options
• Web & Desktop Trading Platforms
• Mobile Trading Platforms
• Trading Features
• Commissions & Spreads
• Bonus & Promotions
• Customer Support
• Research
• Trader Education
• Trading Experience
• FAQ
• Conclusion

SimpleFX Video Review

Investor Protection & Regulations

“SimpleFX is a registered business in St. Vincent and the Grenadines and is currently not licensed by a financial regulator. However, the broker does advertise client security in the form of segregated client funds, negative balance protection and two-factor authentication.”

SimpleFX is a registered business located at Suite 305, Griffith Corporate Centre Beachmont, Kingstown VC0100, St. Vincent and the Grenadines. As such the company is based offshore and is not regulated by a financial regulator.

The broker advertises client security by offering:

• Negative balance protection.
• Two-factor authentication.
• Segregated client accounts.

The broker does not accept clients from Algeria, Belgium, The Bahamas, Botswana, Cambodia, Cuba, Ecuador, Ethiopia, Ghana, Iran, Iraq, Monaco, Myanmar, North Korea, Pakistan, Poland, Saint Vincent and the Grenadines, Panama, Sri Lanka, Syrian Arab Republic,Trinidad and Tobago, Tunisia, United States, Yemen.

Tradable Products

“SimpleFX offers users the ability to trade commission-free on more than 200 financial instruments covering Forex, Cryptocurrency, Stocks, Indices and Commodities.”

SimpleFX offers users the ability to trade commission-free on more than 200 financial CFD instruments covering a wide variety of different financial instruments including 60+ Forex pairs, 12+ Indices, 8+ Commodities, 150+ Shares and 7+ Cryptos.

Below is a list of just some of the available markets for trading:

* Details regarding the available assets are taken from the SimpleFX website and trading platform and are correct at the time of this review.

Trading is commission-free with SimpleFX. Spread and swap costs are detailed on the broker’s website. For example, the spread on EUR.USD is 0.00009 (0.9 pips), according to the broker’s website. A detailed review of the trading costs with SimpleFX can be found further down this review.

Account Opening

“SimpleFX offers a simple account offering with just one account to access all the financial instruments available, 500:1 maximum leverage, multicurrency accounts with no minimum deposits. The broker also provides access to demo trading accounts.”

SimpleFX provides users with just one simple account to access all of its features. This includes:

• Access to trade on more than 200+ financial CFD instruments.
• Access to trade from MetaTrader 4 and the broker’s own feature-rich SimpleFX MT4 Tools Web Trader platform and mobile trading.
• Access to a maximum of 500:1 leverage.
• Multicurrency accounts in 15 base currencies, including cryptocurrency.
• No minimum deposit.

To open an account with SimpleFX users simply need to click on the ‘Create Account’ button located on the broker’s website. After clicking this button, users will be redirected to the SimpleFX Web Trader platform and asked to create an account by inputting an email address and accepting the broker’s terms and conditions.

Users will then be sent an email asking to verify their address. Once this is clicked the user is taken back to the SimpleFX Web Trader platform to create a password. From here, users can access a variety of features from the SimpleFX Web Trader platform such as trading charts, news TV, trading ideas, deposits, withdrawals and more.

Deposit & Withdrawals options

“SimpleFX offers a variety of deposit and withdrawal methods including FasaPay and lots of cryptocurrencies such as Bitcoin, Bitcoin Cash, Chainlink, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Tether and more.”

SimpleFX offers users a variety of deposit methods that are fee-free with no minimum or maximum amounts. Users can deposit funds via FasaPay and cryptocurrencies like Bitcoin, Bitcoin Cash, Chainlink, Dash, Ethereum, Ethereum Classic, Litecoin, Monero and Tether.

Withdrawals can only be made with the same payment system as used for the deposit and mostly have zero fees but are subject to minimum amounts. More details regarding deposit and withdrawals can be found on the broker’s website:

Web & Desktop Trading Platforms

“SimpleFX offers its clients the use of its own proprietary, browser-based SimpleFX Web Trader platform, as well as the globally-recognised MetaTrader 4 trading platform for PC.”

SimpleFX MetaTrader 4

• Available for Windows desktop download.
• Access multiple asset classes.
• View real-time prices and quotes.
• Access technical indicators.

SimpleFX Web Trader

• Browser-based, no download required.
• Access multiple asset classes and in-built trading calculators.
• View real time trading ideas and News TV.
• Access a range of different indicators, timeframes and chart types.
• Simple to use and navigate.

Below is a screenshot of the SimpleFX Web Trader platform which is also covered in more detail in the video review.

Mobile Trading Platforms

“SimpleFX offers its own proprietary mobile trading app for Android and iOS users that is feature-rich with access to multiple markets, trading ideas, a news feed, charting and live market trading.”

SimpleFX Mobile App

• Available on Android and iOS.
• Access multiple markets including CFDs on Forex, Indices, Commodities and Crypto.
• View real-time charts, different timeframes and different types of chart types.
• Access Real-time trading ideas.
• View a live news feed via text and TV.
• Access a social community to share ideas and other account settings directly from the app.
• Simple and fast to use.

The SimpleFX Mobile App is covered in more detail in the video review.

Trading Features

“SimpleFX offers trading features such as signal trading from the MetaTrader Marketplace in the platform and social trading ideas from the web trader platform.”

SimpleFX offers all the trading features that can be found in the MetaTrader platform Marketplace which includes copy trading services and custom programming for technical indicators and algorithmic strategies.

The broker also offers social trading ideas from the web trader platform, as shown below on the right-side.

Commissions & Spreads

“Trading costs are commission-free with SimpleFX with just spreads and swaps payable. These vary depending on the financial instrument being traded but can be found easily on the broker’s website.”

Trading costs with SimpleFX are simple – no pun intended. Trading is commission-free with just spreads and swaps payable. These vary depending on the financial instrument being traded but can easily be found on the broker’s website, as shown below:

The broker also charges an inactivity fee of 3% (minimum of 25 USD) if no activity has taken place on the account between a deposit and withdrawal.

*SimpleFX doesn’t offer fixed spreads, which are obtained from top level liquidity providers.

Bonus & Promotions

“SimpleFX offers promotions through its blog which vary over time.”

The SimpleFX Blog provides details on any promotions running. At the time of writing, this includes a:

• Trading Idea Contest to win $100.
• A Treasure Hunt clue for up to a $50 reward.
• Refer a Friend promotion through the Affiliate section of the broker’s website.
• Black Friday promo.
• Bitcoin pizza day promo.
• March cashback promo.

Customer Support

“SimpleFX offers customer support via Email and a Live Chat function 24/5. This service is available in English, Spanish and Portuguese.”

SimpleFX offers customer support via Email and a Live Chat function, across multiple languages such as English, Spanish and Portuguese.

SimpleFX offers 24/5 live chat support in English. Upon submitting our query we were instantly greeted by a representative who provided clear and detailed instructions.

Contact Information:

• Address: Suite 305, Griffith Corporate Centre Beachmont, Kingstown VC0100, St. Vincent and the Grenadines
• Email: support@simplefx.com
• Social Media:
  • Facebook
  • Linkedin
  • Twitter
  • YouTube

Research

“SimpleFX offers several useful trader research tools. Through the ‘Blog’ section of the website you can gain access to News, Tutorials, Updates, Opinions and a CFD Academy.”

SimpleFX offers multiple research tools in the dedicated ‘Blog’ section of the website. This features news, market updates, tutorials and information regarding the trading schedule. The information is delivered in blog format, covers a wide variety of markets and topics and is suitable for both beginners and advanced traders. The image below illustrates an example of the listed content.

Trader Education

“SimpleFX provides education through their CFD Academy via their Blog. The educational section consists of feature-rich articles in a tutorial format, covering trading ideas and concepts as well as practical guides on how to use the service and platform.’’

The CFD Academy provides access to a wide range of detailed trading articles covering different education topics. This includes simple tips, how to use different indicators, strategies, terminology and more.

An example of the most recent articles are shown below in the screenshot:

Trading Experience

“SimpleFX provides a simple trading experience. Users can access more than 200 financial CFD instruments across Forex, Indices, Commodities, Cryptocurrencies and Stocks on the broker’s own SimpleFX Web Trader platform which is simple and easy to use.”

From our observations, SimpleFX provides a simple offering to trade commission-free on a wide range of asset classes across different platforms including the MetaTrader 4 platform for desktop download and the broker’s own SimpleFX Web Trader platform which is simple to use and provides features such as trading calculators, live news feeds and a social trading community for trading ideas.

FAQ

Is SimpleFX regulated?

No.

Where is SimpleFX based?

SimpleFX is based at Suite 305, Griffith Corporate Centre Beachmont, Kingstown VC0100, St. Vincent and the Grenadines.

How does SimpleFX make money?

SimpleFX makes money through spreads and swaps on certain tradable asset classes.

How do I deposit in SimpleFX account?

Funds can be deposited into a trading account via FasaPay, Bitcoin, Bitcoin Cash, Chainlink, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Tether and more.

What is the min. deposit for SimpleFX?

The minimum deposit for SimpleFX is $1.

How do I withdraw money from SimpleFX?

Withdrawals can be made from SimpleFX via FasaPay, Bitcoin, Bitcoin Cash, Chainlink, Dash, Ethereum, Ethereum Classic, Litecoin, Monero, Tether and more.

What is the max leverage in SimpleFX?

The maximum leverage offered by SimpleFX is 500:1.

How do I open an account with SimpleFX?

An account can be opened at the click of a button on the SimpleFX website and can be done in just a few steps.

Does SimpleFX use MetaTrader?

Yes, MetaTrader 4.

Conclusion

“SimpleFX is an online Forex and CFD broker founded in 2014, offering users the ability to trade commission-free on more than 200 financial instruments covering Forex, Cryptocurrency, Stocks, Indices and Commodities from the globally-recognised MetaTrader 4 trading platform, the proprietary SimpleFX mobile trading app and SimpleFX Web Trader.”

SimpleFX is a CFD broker which was founded in 2014. The broker is registered as an International Business Company in St. Vincent and the Grenadines, boasting more than 200,000 registered users but with no licence from a financial regulator. However, the broker does provide security of funds by advertising the segregation of client funds and a negative balance protection policy among other features.

The broker offers users the ability to trade commission-free on more than 200 different financial CFD instruments covering Forex, Cryptocurrency, Stocks, Indices and Commodities from the globally recognised MetaTrader 4 trading platform for Windows and the SimpleFX MT4 Tools Web Trader platform.

Users can also trade from SimpleFX’s proprietary mobile trading app for Android and iOS users which covers trading on more than 60 currency pairs, 16 cryptocurrency pairs and a range of indices, stocks and commodities with various deposit options including five cryptocurrencies.

Traders with SimpleFX are offered 500:1 leverage, multi-currency accounts, spreads from 0.1 pips and no minimum deposits, as well as a trader community for signal trading between all MetaTrader 4 brokers. The broker also offers a trading blog covering live market analysis.

• Commission-free trading available.
• Multiple asset classes offered.
• Feature-rich SimpleFX Web Trader platform and mobile trading app simple to use.
• Social trading community and signals inside of web trader platform.