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SimpleFX Review and Tutorial

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SimpleFX Facts & Figures

SimpleFX is a CFD broker offering its own SFX WebTrader platform & low fees.

 

Awards

None

Bonus 50% spread cashback
Instruments Forex, CFDs, indices, shares, commodities, cryptocurrencies
Demo Account Yes
Min. Deposit $0
Pay Methods Bitcoin Payments, FasaPay, Neteller, Skrill
Min. Trade 0.01 lots
Regulated By None
MetaTrader 4 Yes
MetaTrader 5 Yes
cTrader Yes
ECN Account Yes
DMA Account Yes
Mobile Apps Yes
Auto Trading Yes
Social Trading Yes
Copy Trading No
Trade Signals Yes
Islamic Account No
CFD
FTSE Spread 1.3
GBPUSD Spread 1.2
Oil Spread 0.03
Stocks Spread Variable
Leverage 1:500
Forex

Trade currency pairs with tight spreads and 1:500 leverage.

 

GBPUSD Spread 1.2
EURUSD Spread 0.9
EURGBP Spread 0.9
Assets 60
Cryptocurrency

Trade crypto and US Dollar CFDs.

 

Spread From 0.0001
Coins BTC, BHC, LTC, ETH, ETC, XRP, LNK
Risk Warning – Your capital is at risk

SimpleFX is a CFD intermediary offering utilized exchanging with cutthroat charges and no base store. The well-known MT4 stage and the restrictive SFX WebTrader arrangement are accessible to customers. In our review, we’ve tried the login interaction, demo account, portable applications and more, to assist you with choosing if SimpleFX is a protected merchant to open a record with.

SimpleFX Offers $2,000 Spring Bonus

The online intermediary offers a $2,000 cashback reward this Spring accessible to new and existing merchants. Clients need to enlist for a record on the organization site, store and exchange. The more you exchange, the more noteworthy the likely rewards. SimpleFX is additionally offering a 20% decrease in spreads as a feature of the advancement. 

Join to begin and note the promotion closes on the 28th of April.

SimpleFX Details

SimpleFX Ltd is based seaward in St. Vincent and the Grenadines and has been in activity since 2014, giving an assortment of CFDs and digital forms of money through a solo record. The dealer is unregulated yet guarantees the security of customer assets through isolated records and adverse equilibrium insurance. 

Throughout the most recent couple of years, the representative has reached more than 200,000 brokers in 160 nations, drawing in the two fledglings and specialists to the high-level highlights on their solid exchanging stages

Trading Platforms

MetaTrader 4

SimpleFX offers the downloadable MT4 work area stage. MetaTrader 4 is generally utilized by numerous intermediaries and offers to merchants. In contrast with the agent’s web stage, MT4 offers a further developed exchanging experience, incorporating robotized algorithmic systems through Expert Advisors and Python, in addition to exchanging signs and duplicate exchange highlights.

SFX WebTrader

SimpleFX’s restrictive web stage is available from most web programs and is ideal for novices. The intermediary has focused on client experience with the plan, which incorporates a news section, exchanging thoughts and a talk room highlight. There is likewise in-stage live help accessible if dealers experience specialized issues.

Assets

SimpleFX offers more than 170 tradable instruments in a few business sectors. There are 60 money matches, a few essential files, including the FTSE100, and many stocks. Likewise, you can exchange a little choice of complex and delicate wares, including oil and valuable metals, just as some notable digital forms of money like BTC and XRP.

SimpleFX Fees

Exchanging at SimpleFX is without commission. Spreads are around 1.3 pips for significant records like the FTSE 100. For EUR/USD, it usually spreads about 0.9 pips, and for gold, you’re taking a gander at around 0.17 pips. In contrast with comparable financiers, these exchanging charges are genuinely serious. 

Subtleties of trade expenses and rates are given in agreement details. Note that an extra 3% charge will be added (at least $25).

Leverage

Items can be utilized up to 1:500 at SimpleFX, with explicit levels dictated by account balance. Edge prerequisites are itemized on the site, and the edge call is half. 

Note amateurs ought to know about the dangers implied with utilized exchanging.

Mobile Apps

SimpleFX offers the versatile rendition of its exchanging application for iOS and Android (APK) clients. The application flaunts custom diagramming instruments and various periods, just as admittance to an intelligent news channel and local area talk. The application also upholds handy swipe and squeeze and zoom activities for a portable agreeable encounter. A valuable QR code is accessible on the site, which takes you directly to the download page.

SimpleFX additionally offers the MT4 application for iOS and Android cell phones, giving intuitive statement diagrams and an entire arrangement of exchanging requests and exchanging history. The MT4 application has a talk highlight and versatile message pop-ups to keep top of you while moving. The MT4 application gets positive evaluations on the web.

Payment Methods

SimpleFX offers various fast and without commission installment strategies, to a great extent utilizing digital forms of money like Bitcoin and Dash or through e-wallets like Neteller or Skrill. On the off chance that you don’t know about crypto, you should get some utilizing a trade. Strategies generally take around an hour to measure, and by and large, there is no base or most extreme store limit. Visas are not acknowledged. 

Withdrawals should be made through the same strategy that was initially used to store reserves. Installments typically take around 24 hours and, as a rule, are without expense. The least withdrawal limits do shift a little, and these can be found on the site.

Demo Account

SimpleFX permits brokers to rehearse in a demo account consequently in the wake of enlisting on the site. A demo account is a valuable method of testing the stage and becoming familiar with the highlights before utilizing genuine cash. 

Dealers gain admittance to $4,000 in virtual assets, of course, which can be beaten up at whatever point required. You can likewise add more analyzer records of your own, for instance, in alternate cash. Practice accounts stay open for a limitless period.

Bonuses

The ideal approach to stay aware of SimpleFX’s special offers is on the representative’s online media pages. Ongoing arrangements have included $1,000 and 2000 USDT prize pools, exchanging challenges, and half-spread cashback.

SimpleFX Regulation

SimpleFX Ltd is a genuine organization fused in St Vincent and the Grenadines. However, it’s anything but at present managed by a monetary body, like the FCA. Regardless, the merchant is straightforward about customer security, promoting their utilization of isolated customer accounts just as regrettable equilibrium assurance on the site. The agent doesn’t, notwithstanding, have a remuneration plot set up in case of liquidation. 

We generally suggest merchants consider cautiously before enlisting with unregulated suppliers as a lawful response might be restricted should you experience issues. 

Note, SimpleFX doesn’t acknowledge merchants from the USA. In any case, customers from most nations are admitted, including those from Canada, Europe and Indonesia.

Additional Features

SimpleFX’s most eminent extra component is their Blog area, accessible in more than 12 dialects and loaded with thorough news stories, forex refreshes, simple-to-follow guides and tips, in addition to a CFD Academy. There are additionally helpful updates on exchanging plan changes. 

It is ideal to see some more functional instruments that different merchants will offer, such as forex number crunchers or a financial schedule.

SimpleFX Account Types

SimpleFX offers a solo record with admittance to all tradable monetary instruments on one or the other stage. There is no base store necessity, and documents can be opened in various financial forms. The base agreement size is 0.01 parcels for FX, products and cryptos. The edge call is half, and the stop-out level is 30%. 

You can pursue a record in a couple of short advances; click Create Account and fill in your subtleties. Assuming you are keeping in fiat cash, you will be approached to confirm your way of life according to the KYC strategy. You would then sign in and start exchanging with genuine cash or virtual assets on the demo account.

Benefits

While considering SimpleFX versus any semblance of 1Broker, the organization performs well in the accompanying regions: 

  • Programming interface and VPS 
  • No base store 
  • Quick client care 
  • Amateur agreeable stage 
  • Multi-money single record

Drawbacks

We’d prefer to see enhancements in specific spaces: 

  • Unregulated 
  • MT5 not advertised 
  • Restricted non-crypto subsidizing strategies 

Trading Hours

Forex can be exchanged 24 hours per day, yet explicit business sectors change contingent upon the time region. Trading hours for all resources are given exhaustively on the agreement details page. All occasions are shown in UTC in the MT4 stage and can be changed following your neighbourhood time region in the web stage.

Customer Support

The client service at SimpleFX is quick and supportive, accessible in English, Spanish and Portuguese. After opening the live visit, you are associated directly with a live talk specialist instead of filling in your subtleties first. On the other hand, you can contact the intermediary through email at support@simplefx.com. 

There is likewise a FAQ entryway on the Support page. There you can discover assistance with a scope of inquiries, from account enlistment and check to how to begin the SimpleFS Tester Pro v1.0 download or erase your record.

Security

The MT4 and SimpleFX web traders are ensured with SSL encoded frameworks and two-factor verification, adding a second degree of safety to protect reserves. Individual subtleties are additionally held in secure disconnected workers.

SimpleFX Verdict

Notwithstanding the absence of guidelines, SimpleFX keeps to its guarantee of straightforward yet progressed administrations, low exchanging charges, and a decent demo offering. Their restrictive web stage and MetaTrader 4 decision made this intermediary a decent alternative for novices and progressed brokers.

Accepted Countries

SimpleFX acknowledges dealers from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most different nations. 

Dealers can not utilize SimpleFX from the United States.

Alternatives to SimpleFX

If you are searching for options in contrast to SimpleFX, we have incorporated a rundown of the best five specialists that are like SimpleFX underneath. This rundown of intermediaries like SimpleFX is arranged by closeness and comprises organizations acknowledging merchants from your area. 

  • RoboForex – RoboForex is a multi-resource online specialist offering excellent exchanging assistants. 
  • Hantec Markets – Hantec Markets is a multi-managed online FX specialist offering MT4 and a customized administration giving tremendous adaptability to suit any dealer. 
  • OctaFX – OctaFX offers multi-resource exchanging on a scope of stages and portable arrangements. 
  • FXOpen – FXOpen is a profoundly cool FX, and CFD agent is offering numerous exchanging stages. 
  • Fortrade – Fortrade is a multi-resource dealer offering a straightforward live record with cutting edge apparatuses

FAQ

Is SimpleFX an ECN broker? 

SimpleFX isn’t an ECN representative. All things being equal, the business follows an STP model. The advantages of STP expedites typically incorporate fast execution times and tight spreads.

Does SimpleFX offer a no deposit bonus?

At the hour of composing, the specialist doesn’t offer a no-store reward. Check SimpleFX’s online media pages for any such arrangements.

Does SimpleFX accept credit cards?

No, SimpleFX doesn’t permit subsidizing utilizing Mastercard. Instead, you can finance accounts using cryptographic forms of money or e-wallets.

Does SimpleFX accept US clients?

SimpleFX doesn’t acknowledge customers from the USA. Likewise, the agent doesn’t recognize brokers from nations where neighbourhood guidelines restrict retail exchanging on the web monetary business sectors.

How can I delete my SimpleFX account?

Record erasure is just conceivable by eliminating your entire profile. This should be possible using a composed solicitation to support@simplefx.com.

Who owns simplefx.com?

SimpleFX is claimed by SimpleFX Ltd, a seaward and friends situated in St Vincent and the Grenadines.

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