SimpleFX Review

Why choose SimpleFX

Offers a variety of account types with competitive spreads and flexible trading conditions.

Pros

  • Multiple account options, competitive spreads, and user-friendly platforms.

Cons

  • Limited regulatory oversight; primarily focuses on forex and CFDs.
SimpleFX

SimpleFX

Fee Level:

Medium

Inactivity Fee:

None

Index CFD Fee:

Medium

Investor Protection:

Compensation schemes vary by jurisdiction.

Mobile Platform:

Visit SimpleFX

Provides a cost-effective trading environment with minimal fees.

Pros

  • No inactivity or withdrawal fees; competitive forex spreads starting from 1.0 pips.

Cons

  • Limited investor protection depending on regulatory jurisdiction.

Implements security measures such as negative balance protection and segregated client funds.

Pros

  • Provides negative balance protection and segregated client funds.

Cons

  • Limited investor protection for clients in certain regions.

SimpleFX supports bank transfers, cards, Skrill, Neteller, and crypto. Deposits are instant; withdrawals take 1–3 days.

Pros

  • Crypto-friendly, multiple funding options, secure transactions.

Cons

  • Crypto-friendly, multiple funding options, secure transactions.

SimpleFX supports a fully online account registration process, with document verification within 1–3 days.

Pros

  • Easy registration and crypto-friendly features.

Cons

  • Easy registration and crypto-friendly features.

SimpleFX provides a mobile app that is straightforward and easy to navigate, suitable for traders seeking simplicity and efficiency.

Pros

  • Low spreads, no minimum deposit, user-friendly interface.

Cons

  • Not regulated, limited fiat funding options, low crypto leverage.

The broker offers both MetaTrader 4 and a proprietary web-based platform, catering to different trader preferences with a range of analytical tools.

Pros

  • Advanced charting capabilities, support for automated trading.

Cons

  • Proprietary platform lacks some advanced features of MT4.

SimpleFX offers a diverse range of trading instruments, including Forex, cryptocurrencies, commodities, indices, and stocks, allowing traders to build a varied portfolio.

Is SimpleFX a regulated broker?

SimpleFX Ltd is incorporated in Saint Vincent and the Grenadines under registered number 22361 IBC by the Registrar of International Business Companies. As of now, SimpleFX operates without specific financial regulatory oversight. Traders should be aware of this and consider the associated risks when choosing to trade with unregulated brokers.

What account types does SimpleFX offer?

SimpleFX offers flexible account options without strict classifications. Traders can open multiple live and demo accounts in various currencies, including both fiat and cryptocurrencies. Notably, there is no minimum deposit requirement, making it accessible for traders with varying capital levels.

Does SimpleFX support social trading?

Yes, SimpleFX offers social trading features, allowing users to follow and copy the trades of experienced traders. This feature enables less experienced traders to benefit from the expertise of seasoned investors.