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!”
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 Review Introduction
In this SimpleFX review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including SimpleFX.
SimpleFX Platforms & Tools
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.
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 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.
It is worth mentioning that some of the trading products and services in this SimpleFX review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the SimpleFX broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.