SimpleFX Review

SimpleFX Logo

SimpleFX is an online broker that provides traders around the globe with forex, CFDs, indices, metals, energies, commodities, cryptocurrency, and stocks trading online. They state that their mission is to keep their trading products and conditions simple and transparent, hence, the company’s motto is “Keep it simple!”

SimpleFX Review - Broker Features
SimpleFX Review – Broker Features

The broker’s basic features include multi-currency accounts, negative balance protection, no dealing desk, API manager, and much more. They also provide their clients with easy-to-use trading platforms and a good selection of trading tutorials.

SimpleFX Platforms & Tools

SimpleFX Review - Trading Platform Interface
SimpleFX Review – Trading Platform Interface

SimpleFX provides traders with the SimpleFX WebTrader, which is fast, reliable, and designed for every device. It runs directly on most modern web browsers. There is also the SimpleFX Native, it is developed for iOS and Android devices. It is easy enough to use for new traders yet has a vast array of advanced trading features to suit the more seasoned trader, including an intuitive and secure API manager.

SimpleFX Review - MetaTrader 4 (MT4) Trading Platform
SimpleFX Review – MetaTrader 4 (MT4) Trading Platform

The broker also provides the highly popular MetaTrader 4 (MT4) trading platform, which is used by millions of traders around the world. It is known for its intuitive interface and abundance of built-in trading tools for conducting chart analysis, placing different types of orders, and managing trades online. The MT4 is available as a desktop application for Windows and Mac computers and as mobile apps for iOS and Android devices.

In addition, SimpleFX has a FIX API trading solution for professional traders and programmers; it provides direct market access (DMA) for trading applications.

SimpleFX Research & Education

The broker provides clients with a trading academy and trading blog; they contain a good selection of videos and articles that can help to inform traders to stay up to date with the latest market action.

SimpleFX Trading Accounts

SimpleFX offers multi-currency accounts. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

There is no minimum deposit required to open an account, and the leverage is up to 1:500, whereas spreads are variable and start from 0.1 pips. Demo accounts are also available.

SimpleFX Account Funding

SimpleFX account holders can deposit and withdraw bitcoins and other cryptos directly. Other payment methods available to SimpleFX traders include credit/debit cards, wire transfer, and online payment processors, such as Neteller and FasaPay. The transaction fees and the processing time depend on the payment method used.

SimpleFX Customer Service

The broker provides customer support to its clients via online chat and email, 24 hours a day, 5 days a week, but they do not provide telephone numbers for those who would prefer to call them.

SimpleFX Regulation

SimpleFX is registered in Saint Vincent and the Grenadines. However, the broker doesn’t provide any regulatory information on their website currently.

SimpleFX Review Summary

SimpleFX is an online broker that provides simple, yet intuitive trading platforms and a basic selection of trading instruments to its traders. They have educational materials within their trading blog and academy. Their funding options are flexible and include cryptocurrencies.

 

SimpleFX

7.8

Spreads

8.5/10

Liquidity

8.5/10

Commissions

8.5/10

Support

8.5/10

Regulation

5.0/10

Features

  • User friendly trading platforms, including the MetaTrader 4 (MT4)
  • Trading blog and academy
  • FIX API for DMA