- What Is SimpleFX?
- Services & Products
- Is SimpleFX Regulated?
- Pros and Cons
- Account Opening Process
- Types of SimpleFX Accounts
- SimpleFX Trading Platforms
- Deposit & Withdrawal Options
- Affiliate Program
- ETH2 Staking by SimpleFX
- SimpleFX Spreads
- Resources Offered
- Security Measures
- Customer Support
Registered out of St. Vincent and the Grenadines, SimpleFX broker entered the marketplace in 2014. This highly-rated international platform makes for a different list of cryptocurrency pairs, trading across Forex, and various deposit/withdrawal methods.
|Headquarters||St. Vincent and the Grenadines|
|Products offered||Crypto, Forex, Stock, Indices|
|Minimum Initial Deposit||No|
|Maximum Leverage||1:500 for Forex |
1:100 for Crypto Pairs
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||No|
|Inactivity fee||3% (min 25$)|
|Withdrawal fee||Depends on Currency|
|Supported currencies||EUR, USD|
|Customer Support||24/7 via Email & FAQ Support|
A free broker platform with such plentiful options and easy access is usually hard to come by, even though the market is getting saturated in some regions around the world. The Caribbean giant also brings digital solutions, staking, and other such services to the table for the individuals looking for a platform that works worldwide with a seamlessly flowing trade and diversity of options for inter-currency pairs. Bitcoin cash, ETH, USD, Bitcoin, and other elite coins/ currencies make a total of sixty available assets on the platform that is about seven years old. Although read the below SimpleFX review to know all the details regarding the broker in one place to start trading with it.
What Is SimpleFX?
SimpleFX, as a company, provides an accessible and lucrative platform for trading and exchanging between fiat and crypto-assets. These assets can be used for speculation-based trading, investments and used to get high profits. SimpleFX stands out from other exchange platforms in the domain due to its diverse usage between different exchange markets and a user-friendly interface available for both computers and mobile devices (through an app) across the board. The unprecedented convenience also includes an app that adds commodities to the list of assets that comprise the strength of the SimpleFX broker.
SimpleFX Platform Interface
SimpleFX broker has also maintained a social media presence, through which users can stay updated or get in touch. The international CFD broker (Contract For Difference) is available in over 160 countries, and the user base continues to grow beyond 200,000. The brand has also paid focus on security with industry-standard measures such as two-factor authentication and other features such as negative balance protection.
Features of SimpleFX
Features are something that SimpleFX broker is not short of. An array of features that trumps most of the competition while also coming with a method for investing through fiat money and cryptocurrency is a combination that is hard to see in the segment. An account with SimpleFX also operates around the clock as some markets such as cryptocurrency and commodities run odd or continuous hours. Although, below are some of the SimpleFX features that you should know:-
The platform enables the users to trade with over 12 indices, and each index is one of the largest in the respective sectors, such as Nasdaq 100, Nikkei 225, WTI Crude Oil, etc.
CFD and Forex Trading
Apart from the various indices supported by the platform, other financial trading systems are also present among the features of SimpleFX broker. Foreign exchange among numerous global fiat currencies and trading pairs with crypto assets through the blockchain markets.
A Cross-currency System
Working through commodities and crypto is a benefit that implies investing between conventional and florida sports betting financial systems.
An App for Every Device
SimpleFX broker offers a rare feature: the availability of an application for every leading device and operating system. These varied options include an app for iOS, Android, Windows, Mac, Huawei devices.
MT4 Tools for Forex
This product/service provided by SimpleFX broker is yet another feature and a popular choice for traders of Forex. The GUI-based user-friendly interface has MQL language for expert advisors.
Features of SimpleFX
Services & Products Offered by SimpleFX
In addition to the features and functionalities mentioned above, SimpleFX also boasts of the different services and products offered by the platform. These products include an advanced trading tool, ie. MT4, where seasoned traders can use various charts and MQL language for programming indicators. These indicators might provide a risk warning for trade.
There is a service for the individuals who wish to associate with SimpleFX broker and stand a chance to earn up to 50% of the revenue share that might take place from the referred or invited individual. The invitations can be sent through a custom link that the referred users can then navigate to the platform.
The trading views have various options. To keep an eye on the market, the users can add custom widgets of the platform that constantly lays over other applications and shows a live piece of concise & selected information. Similar to the website trading service, the widgets and applications also have support for multiple languages. The widgets can be incorporated into the websites using some of the latest programming languages and development environments. Affiliates can also earn through these very widgets of SimpleFX too.
Is SimpleFX Regulated?
SimpleFX is not a regulated broker. One of the reasons behind the lack of regulation might come from the platform’s operation that spreads different conventional and non-conventional marketplaces and exchanges that make it quite challenging to manage. Another possibility would be the sheer scale of the platform and its plan to wet its beak in the waters of decentralized finances and trading systems.
Although SimpleFX broker is not regulated, the platform has maintained a user-friendly and trust-inspiring trading system with low trading fees. The unregulated platform also has a decent and appreciable way of demo trading. Demo trading can help florida sports betting users familiarize themselves with how SimpleFX works and feel confident about their usage and technical know-how.
Another thing to keep in mind is that even though SimpleFX does not follow any regulations of external bodies, the platform has some terms and conditions that are to be complied with by everyone looking to start trading with a SimpleFX broker.
SimpleFX Reviews: Pros and Cons
|SimpleFX has 24/7 trading markets available for investors, and exchanges such as crypto work round the clock due to their global nature.||The lack of a regulatory license does take away a tiny amount of trust from the platform, and the operations are not monitored, albeit there have been no negative actions taken so far.|
|The deposits on the platform support both cryptocurrencies as well as traditional fiat currencies. The deposit options also vary from the geographic location and are more user-centric.||Being registered from a remote nation, SimpleFX broker is not within the boundaries of most jurisdictions, even if there is no need for supervision.|
|MetaTrader4 is available on the trading platform of SimpleFX that comes with the commonly used MQL language and implies the introduction of expert advisors for a minimum trade size.||MT5 could have made for a flawless portfolio. However, the latest iteration of the trader is not yet present but might be added at a later stage with uncertain probability.|
|The wide range of investment options, from Forex to commodities, fiats to cryptocurrency, has something to offer everyone.|
SimpleFX Account Opening Process
The process of opening an account with SimpleFX is just as easy as the rest of the interface. A single SimpleFX account can be opened up with a normal sign-up process. Every account can use all of the financial and trading instruments that are available on the platform.
Individuals can also register using their already existing accounts with other social media platforms, namely, Facebook, Google, Twitter, and Apple. An email would suffice for the users to dive into SimpleFX broker and begin getting started with their florida sports betting simple yet powerful investing and trading tool.
SimpleFX Account Opening Process
The option to ‘Create Account’ is shown on the top of the website or application menu that navigates the interface to a signup process. This is where users can input their data through other systems. Once the opening process is done and the credentials have been finalized, the individuals are greeted with a simple interface that can be viewed in ‘light mode’ and ‘dark mode.’ This interface can either show florida sports bettings TV or even save trading ideas within the user’s account with the platform.
Types of SimpleFX Accounts
SimpleFX broker aims to provide true versatility for all users without different and distinct types of accounts. Each type of account has a purpose and usage behind its design and comes with its corresponding advantages and benefits, but at SimpleFX, that is not the case. SimpleFX has a single type of account that can trade across all the supported domains and exchanges.
All individuals need to use a one-for-all trading solution to sign up or create an account with a SimpleFX broker and then complete the KYC verification process that is asked for by the platform itself. Since there are no multiple types of accounts, a single account also has to take each step. This results in a minimum trade size of 0.01 for FX. The stop-out level for the account is 30%, with the margin call coming in at 50%.
However, there is an additional demo account feature. Although this is not the same as a personal/business account, this kind does benefit the users by making them comfortable with the usage and operations of this intuitive platform.
SimpleFX Trading Platforms
The lucrative investing and trading platform has been well designed with several built-in functionalities with the current interface. The platform has many customization options that include light or dark modes for the interface. In addition to these minor and generalized customizations, the trading platforms of SimpleFX broker can program indicators and expert advisors. MT4, also known as MetaTrader 4, brings in the versatility of the MQL language. The platform can be made to look in any manner that is required or desired by the user.
SimpleFX trading platforms include a list of customizable widgets that would pack the platform into a small and selective package and be embedded in websites. On top of these mentions, the platforms’ interfaces are highly responsive and deliver a pleasant user experience upon each session. MT4 and the web trader form the most commonly used platforms and views of SimpleFX broker while including the mobile and desktop applications for respective devices.
MT4 Platform by SimpleFX
Leverages often become the determining factor for a large-scale investing and trading platform such as SimpleFX. Some of the competitors, such as OctaFX, FXOpen also have been aiming for better leverage on their platforms. In the case of SimpleFX broker, the users get a 1:500 leverage ratio. This high ratio implies that the risks are just as significant as the potential rewards.
Although there is negative balance protection on SimpleFX, beginners are advised to understand the risks at play with such high leverages thoroughly. SimpleFX has set the margin call at 50%, and the structural list of margin calls can be referenced through the website. This 1:500 is the maximum ratio for Forex trading, and the ratio might be different for other types of trading that SimpleFX broker supports. 1:100 is the standard ratio for a few crypto pairs on the platform.
SimpleFX provides an API for all the public information that it uses on its trading platforms, as many other top forex brokers do. The API, also called an application programming interface, may prove to be an advanced and powerful tool for expert traders or developers who wish to use API’s data to make better decisions in the market. The API of SimpleFX broker is available through the popular code-sharing platform – GitHub. The architecture behind the API works with public/private keys, and the users who “Pull” from the source code can follow the directions listed in the official release document on GitHub.
The integration steps include creating an API object with any name, modeling the data as per the object, checking all the permissions, getting access to the token, and a few other technical steps. The quotes and prices will not be able to update in milliseconds and thus, cannot be shared directly through the API itself. However, there is a workaround to get the last prices observed during the update request stream.
Despite offering some of the most lucrative and enticing features, SimpleFX has kept the trading fees low and highly competitive in the industry. While the trading at SimpleFX broker does not come with any fees, the spreads are not out of the picture. Spreads vary for each different indices and might be subject to change as well. For instance, the spread for EUR/USD stays around 0.9. For gold, the value goes to 0.17. SimpleFX has listed all the rates and charges that the transactions might be subjected to in their official offering document.
SimpleFX charges an inactive fee from an account if it is not in use and the minimum for the same is a considerable $25. This minimum fee for inactivity is also present in the contract, and individuals are strongly recommended to read the entire document carefully to the point of understanding.
SimpleFX Deposit & Withdrawal Options
Diversity and plenty of choices are some of the strong suits of SimpleFX. The trading app has support for various payment methods for both deposit and withdrawal options. The broker accepts both fiat currency deposits and cryptocurrency deposits. The deposits on the platform do not have a minimum value and are free of charge. The options for cryptocurrency deposits include Ethereum, Litecoin, Monero, Bitcoin, Dash, Bitcoin Cash, Ethereum Classic, and more.
SimpleFX Deposit & Withdrawal Options
The story of withdrawal from SimpleFX broker is just as pleasant, although not as simple. The leaves can only be done against the original mode of the deposit that was made to SimpleFX. For instance, if individuals deposit crypto, then they would only be able to withdraw their funds after trading in the form of crypto. These funds cannot be withdrawn in fiat or other forms of money. This eliminates the possibility of using the platform of SimpleFX as a currency exchange that would let users just exchange their assets across financial systems.
SimpleFX Affiliate Program
Similar to many other trading platforms in the industry, SimpleFX also offers an affiliate program. Through this program, the existing users of the broker have the option to invite florida sports betting individuals to the platform and earn money from it. Unique individuals can be requested with an invite link for each account.
SimpleFX has a high rate of return for the referral as well. The affiliates can earn up to a 50% share of the florida sports betting user’s transactions through the platform. This implies that the returns would be ongoing and can become a secondary source of profits if the individuals invite multiple traders or a few heavy traders as the payoff depends on trade volume.
SimpleFX Affiliate Program
Unlike other brokers, SimpleFX claims a transparent affiliate system trade volume intertwined with independent third parties. The features of the affiliates include snowballing income, the privacy of affiliates’ data, and universal tracking for the referrals.
ETH2 Staking by SimpleFX
Asset staking is among the list of services that SimpleFX provides. Staking is defined as the process of taking part in a transaction validation, and this process is open to anyone who possesses the minimum value for staking on the chain. Through the platform, users can stake their ETH 2.0 and yield high returns compared to some alternatives. The rates for the bank deposits before starting staking are negligible.
SimpleFX provides ‘guaranteed interests’ on the investments made by the users on the platform. Investors can earn up to 8.5% interest annually (approximately). Individuals can stake any amount through SimpleFX and profit from the rise in the value of Ethereum coins.
As the staking on SimpleFX is based on ETH 2.0, there is also a way to hedge ETH funds with smart leveraged shorts. The interested individuals can open a staking account, add or transfer ETH funds and start investing. SimpleFX charges no fees for ETH2 staking on its platform, a welcome bonus for high-volume traders.
ETH2 Staking by SimpleFX
While SimpleFX has no commission or trading fee, the spreads are still to be cleared by the traders of the platform. The prices of spreads for the various exchanges and commodities are competitive and at par with the alternatives of SimpleFX. There are no fixed spreads on SimpleFX as the options simply vary too much for the spread rates to be universal for all trades. The spread for gold is 0.17, and FTSE 100 has 1.3 pips. Some of the other SimpleFX spreads are LTCUSD – 0.03, Oil – 0.06, DJI – 3, USDJPY – 0.009, GBPUSD – 0.00012, BTCUSD – 4.05. Most of these spreads are in line with the industry standards or even lower in some cases.
In addition to spreads, swap rates are also applicable for the corresponding transactions. Swap rates are not applied or imposed by the platform of SimpleFX and are a rendition of the live market rates. Swap rates are similar to network fees or gas fees because they maintain and carry the users’ accounts.
Resources Offered by SimpleFX
SimpleFX brokers have many resources offered to the users through the platform and often prove highly beneficial. The resources include a beginner’s guide to trading and investing through the platform and how the markets behave. The focus has a straightforward approach to cater to laymen and bring them up to speed with SimpleFX. If the guide doesn’t suffice as the comprehensive walkthrough, there are tutorials and videos which teach the viewers about the platform of SimpleFX and how to trade.
Once the individuals have gotten confident with the guide and the tutorials, they can start with the demo account with SimpleFX that can be used to trade and invest virtual money in a real-life simulation instead of having the users invest their real money to start to learn trading/ investing from scratch. These tutorials cover a broad range of topics from florida sports bettings, updates, technical analysis, etc.
Like many brokers, SimpleFX also launched an application for essentially every leading platform. A dedicated application for each platform simply brings in a vast user base who can use a natively developed app that takes the best advantage of the operating system and device while delivering a responsive and seamless interface. The dedicated applications are available for iOS, Android, Huawei, Windows, Mac, and the renowned MetaTrader 4 systems.
The functionalities of most of these applications are similar to one another as they try to offer the same experience, ease of access, and the convenience of a mobile or personal device without relying on only browsers trading. Every application has multi-language support, a light / dark theme, a responsive interface, and easy navigation.
SimpleFX Security Measures
Standing among the leading brokers for investing and trading across the industry, SimpleFX also takes adequate industry-standard safety measures. The security methods include two-factor authentication and other methods. SimpleFX ensures the security of funds with the help of segregated accounts and a custom feature – negative balance protection. Google authenticator is also compatible with SimpleFX and would become an easy way to secure the sign-ins for the account. Post enabling it, this measure would generate a florida sports betting verification code every time.
SimpleFX Customer Support
The result of every SimpleFX review implies that the platform has been highly active in resolving the issues for most of the users. Third-party reviews also mention an accommodating support team behind the popular investing platform. The platform’s customer support team can be reached via email or the other social media handles/accounts the company is present on. SimpleFX also has an engaged and active community that can help out beginners. New users are advised to check the FAQ section of the platform’s website and get their doubts cleared and begin their trading.
SimpleFX Customer Support
SimpleFX Reviews: Conclusion
It can be concluded that SimpleFX is a CFD broker, Forex, and commodities trading platform that is unlike any other. The variety of exchanges from an unregulated system with competitive prices and free trading is more than sufficient to make it an excellent recommendation for any trader looking for a do-it-all platform. Although SimpleFX does not have all of the DeFi projects, it does cover most of the marketplaces around the world.
Is SimpleFX Legit?
SimpleFX is a legitimate and trustable platform as conveyed by the various online and third-party reviews. The company has not been a part of any attack or scandal.
How Do I Withdraw From SimpleFX?
To withdraw funds from SimpleFX, the users can go to the withdrawal section of the interface, select the asset they wish to withdraw, and then enter the amount. The withdrawals can only be made in the same mode of payment as were their original deposits.
How Do I Deposit Into SimpleFX?
SimpleFX broker provides several options for depositing funds into the platform. These methods include fiat currencies and cryptocurrencies both. After signing into the platform, the users can select any supported deposit methods and add funds.
What Is the Minimum Deposit for SimpleFX?
Like many other brokers, SimpleFX does not have a minimum deposit amount. Users of the platform can invest as much money as they wish.