Historical Background
SimpleFX was established in 2014, and it now addresses novice and expert traders with state-of-the-art products that bring newbies into the trading world. With such innovations, the brokerage ropes the world in with its forex, physical, and cryptocurrency exchange network with the most beginner user-friendly versions.
Mission and Vision
From a broader perspective, SimpleFX wants to gain the enforcement of the global trader with the use of advanced trading tools and a user-friendly trading environment. SimpleFX will make trading simple for everyone, transparent, and accessible.
Global Presence
SimpleFX caters to its customer base through multi-lingual customer support with clients in over 160 countries. The company has a global presence with a focus on security and transparency.
Pros and Cons
Strengths and Limelight
- Wide range of tradable assets
- No minimum deposit
Cons
- No regulation
- Regional restrictions
Security and Regulations
Licensure
SimpleFX is not a Tier-1 registered forex broker but an offshore entity extremely tight in its operations.
Segregation of funds and insurance
SimpleFX segregates funds into client bank accounts for better security because the cryptocurrency wallets are currently favored for more confidential transactions in this field.
Tradable Instruments
Forex Pairs
Place over 50 different forex currency pairs, both major and minor, on the tightest spreads and leverage options that suit your convenience.
Commodities
Develop portfolios with some gold and silver or invest in some oil and natural gas, as provided on SimpleFX's trading account.
Indices
Trade on global indices, such as NASDAQ, S&P 500, FTSE 100, and DAX, with competitive conditions.
Crypto Pairs
This lucrative trading point allows one to trade within most of the cryptos of your choice; popular coins like Bitcoin, Ethereum, and Litecoin head their vital categories and have progressed into crypto-to-fiat or crypto-to-crypto pairs.
Account Types
Standard
| Minimum deposit | 0 |
|---|---|
| Commission | 0.9 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:500 |
| Margin call level | 20 |
| Stop-out level | 20 |
Fees and Charges
Spreads & Commissions
SimpleFX provides commission-free trading with spreads, starting from as low as 0.1 pips, which means that they build the cost into the spread for more transparency purposes.
Swap Rate
Overnight swap fees apply with positions kept overnight and they are clearly shown in the platform.
Inactivity Fees
For accounts inactive for a certain period, an inactivity charge will become due.
Trading Platforms
| Available tools | Forex, indices, metals, energy, cryptocurrencies, stocks |
|---|---|
| Cryptocurrencies | BTC, BTC Cash, DASH, ETH, ETH Classic, LTC, XMR, USDT, DOT, EOS, Yearn.Finance, AVAX, Fetch.ai, Matic Network, FIL, ADA, BNB, LINK, NEO, Waves, XTZ |
SimpleFX WebTrader
Their product focuses on innovation through the myriad ways they have enabled the SimpleFX WebTrader as your favorite and easy-to-use platform replete with advanced charts at that point traders would be clicking their scalping actions.
Mobile Trading Apps
SimpleFX has launched trading apps for both iOS and Android users to enable real-time trading prepared by the user.
Customer Support
Step to Register
For SimpleFX, getting an account means completing an online registration process and verifying the email with minimal fuss.
Verification Requirements
In order to perform withdrawals via fiat or higher withdrawals out they may be subject to ID verification provided. SimpleFX endorses anonymous trading through the use of crypto, and yet they are also offering full verification in the end.
Deposits and Withdrawals
Available Payment Options
The payment methods include debit and credit card, bank transfer, and interestingly, the major cryptocurrencies—Bitcoin, Ethereum, and USDT.
Time for Processing
Cryptocurrency deposits can be completed immediately; however, withdrawals could take 1 – 3 business days, depending on the payment method.
Additional Charges
There are no fees charged for most deposit and withdrawal transactions in cryptocurrencies; however, costs may be charged for withdrawal via fiat depending on the payment provider.
FAQ
Is it regulated?
SimpleFX is an offshore and unregulated Tier-1 financial broker.
What type of trading platforms?
Get the SimpleFX proprietary Web Trader and mobile iOS and Android devices.
How much is the minimum required deposit when opening an account?
SimpleFX has waived any minimum deposit, meaning every trader can create an open account with the company.
What kind of accounts does the broker offer?
Generally, SimpleFX creates the emphasis on having a one unified account for traders and offers a demo account for training with live trades.
What fees and commissions are being charged?
Indeed, SimpleFX provides commission-free trades with their spreads entirely at its tightest level, and it also charges swap fees for holding an overnight position.
How high is the maximum leverage the broker offers?
It stands to be 1:500, contingent with the item and account type.
Can you access demo accounts here?
Yes. SimpleFX gives you a demo account, complete with money for making the trades you expect to test and practice without risk.
How can they be contacted for help?
This service is available through chat and email in many languages; remember, those are only available during trading hours.