SimpleFX Review

$10MIN. DEPOSIT
Up to 500:1
No
NO DEP. BONUS
0 Users (0 votes)
Odds0
Services0
Support0

Overview

Company Information Providing an opportunity to engage in trading with Forex CFDs on Litecoins, Indices, Bitcoins, energy, and precious metals, SimpleFX is one of the new tenderfeet among online brokerages,… more

Read Full Review

Details

BrokerSimpleFX
Website URLhttps://simplefx.com/
HeadquartersKingstown, Saint Vincent and the Grenadines
Support Number+44 20 3695 8885
Support Emailinfo@simplefx.com
Support TypesPhone, Live Chat, E-mail, Skype, QQ
LanguagesEnglish, Arabic, German, Spanish, French, Indonesian, Japanese, Polish, Portuguese, Romanian, Russian, Vietnamese, Chinese
Minimum 1st Deposit$10
Minimum Trade Amount0.01 lots
Maximum Trade Amount100 lots
BonusNo
PayoutUp to 500:1
Free Demo AccountYes
Regulated Yes
RegulationThe Financial Services Authority of St. Vincent & the Grenadines
Account TypesDemo, Live
Deposit MethodsBitcoin, Credit Card, Skrill, Neteller, WebMoney, AstroPay, Bank Transfer, Fasapay, Qiwi, Moneta.ru, Yandex Money, China UnionPay
Withdrawal MethodsBitcoin, Credit Card, Skrill, Neteller, WebMoney, Bank Transfer, Fasapay, China UnionPay
Types of AssetsForex CFDs on Bitcoins, Litecoins, Indices, Precious Metals, Energy
Account CurrencyAUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, JPY, NOK, PLN, RUB, SEK, USD, IDR, BTC
ECN Broker No
Scalping Allowed No
Managed No
Lowspread No
Forex Demo Contests No
Forex Live Contests No
US Traders Allowed No

Full Review

Company Information

Providing an opportunity to engage in trading with Forex CFDs on Litecoins, Indices, Bitcoins, energy, and precious metals, SimpleFX is one of the new tenderfeet among online brokerages, having had its birth in 2014. As the name dictates, it is devoted to keeping its trading conditions, tools, and offers simple and transparent.

The global presence of SimpleFX is mindboggling – over 130 countries and 40,000+ enthusiastic investors – for less than 3 years, this is more than remarkable a feat. The team is entirely composed of professional traders that stand on solid experience and are always striving to deliver the most top-notch prices, liquidity, execution, a wide array of trading instruments, and innovative technology to enhance trading to a higher level. Besides, the Forex enterprise’s trading is 24/7 and 365 days a year with a guaranteed protection of the deposited cash.

The brand has deployed its offices on the Saint Vincent & the Grenadines and is fully licenced with the IBC.

 

Trading Information

As for the moment, only one option for a trading account is available at SimpleFX. It goes by the name “Standard” account and is equipped with a host of unique features and numerous instruments for trading. 60 currency pairs, out of which 20 exotic ones, and variable spreads are accessible there. The last ones can be as low as 0 pips while the usual ones are 1 pip.

The maximum leverage at SimpleFX is a high 500:1, but on request, it can be lowered to up to 2:1. Despite that the minimum deposit is $1, it is highly recommended that you put at least $20. The level of Margin Calls is 50%, the Stop Out level gravitates around 30%, and the minimum size of a position is set to 0.01 lots.

In spite of having allowed scalping and hedging, there is a no swap-free account version which is unfortunate for Muslim customers since their strict Sharia laws do not allow other forms of trading. However, other features, such as trailing stop order, Expert Advisors (EAs), pending orders, and one-click trading, are available at SimpleFX. Don’t be startled by the website’s unusual appearance, because you will get the hang of it quite quickly.

With SimpleFX, traders can immerse themselves in trading with Bitcoins which is a very rare option among Forex brokerage houses nowadays. Bitcoins’ advantages are that they permit extremely rapid payments (as well as micropayments) at insignificant cost and escape the need for any issuers or central authorities. The best about bitcoins is that transferring them is always gratuitous and the cash arrives in a matter of minutes.

 

Trading platforms

At SimpleFX, customers may derive benefit from the world’s most celebrated trading platform – MT4. Both accessible via a desktop and a mobile device, it is a stable, a fast, and a reliable software that is equipped with countless features. Some of the most remarkable comprise of price alerts, copy trading, one-click trading, rich and complex built-in analytical tools, trading signals, and automated trading thanks to MQL4 and Expert Advisors.

At SimpleFX’s MT4 platform, the strongest points consist of 23 analytical objects (channels, lines, Fibonacci retracements) that enable drawing formations on a chart and 30 built-in technical indicators that significantly simplify this task. The free Code Base permits downloading thousands of extra indicators that virtually make the analytical capabilities of SimpleFX’s MT4 infinite.

MT4’s Strategy Tester is the module to test and optimise SimpleFX’s Expert Advisors.

 

Security and Customer Services

SimpleFX’s mission abides by the motto – “Keep it simple!” – but that does not apply to its elaborate security which has been set in place in an effort to safeguard clients’ funds and provide them with a good night sleep while their accounts stack up with money through many of the automated features.

Not only the company protects each of its pages with the SSL protocol and maintains its customers’ cash in entirely segregated accounts but it also provides Guaranteed Deposit Protection Funds. To further strengthen their (and your) security, the company’s head offices are deployed on the St. Vincent & the Grenadines and they are fully licenced as an International Business Company under the stern regulation of St. Vincent’s International Financial Services Authority.

As far as customer service is concerned, SimpleFX provides all the features a user may necessitate. First of all, the support page is equipped with FAQs about crucial financial terms, information about payments, etc. Secondly, reaching out to the Forex enterprise is possible via a live help, through several phone lines, and an e-mail assistance. And thirdly, there are also a Skype support and a QQ support (for Chinese investors) which are extremely handy and distinguish the company from others in the niche.

SimpleFX’s elegant website loads in milliseconds and comes in English, German, Arabic, Indonesian, Japanese, Spanish, Portuguese, French, Polish, Vietnamese, Romanian, Chinese, and Russian.

 

Deposits and Withdrawals

Eight (8) easy and quick ways for depositing a trading account are accessible at SimpleFX. What differentiates the company from its online rivals are the two virtual currencies with which one may initiate deposits – Litecoin and Bitcoin. Credit cards (China UnionPay, MasterCard, and VISA), Fasapay, Skrill, Local Payments, Bank Transfer, and NETELLER are the other six ways to execute deposits. None of the deposit options at any point requests a fee from your side. The only max deposit from all options is $4,000 for credit cards – all others are limitless.

Each withdrawal has to be made using the same payment system that you used for depositing. Only the virtual currency methods are exempt from a fee – all others request a different fee. Quick and efficient are the two adjectives that describe withdrawals at SimpleFX – some of them are instant while others will bring cash in your virtual pockets within 72 hours.

 

Deposit Bonus and Loyalty Programmes

SimpleFX is a young brokerage house and one may expect that it should be jam-packed with flashy promotions and very well elaborated programmes for loyal investors who have stuck with them from the outset. Well, that’s not the case with SimpleFX, but it seems that they are wooing more and more clients every day so probably they don’t need to create any promotions as of now.

If you should be interested in establishing a partnership with them, there is an Affiliate programme.

 

 

Open an Account
What people say... Leave your rating
Sort by:

Be the first to leave a review.

User Avatar
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating