SimpleFX Review
Overview
Company Information SimpleFX is one of the new online brokers created in 2014. The brand is owned by SimpleFX Ltd., and its headquarters are located in Saint Vincent and… more
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| Broker | SimpleFX |
|---|---|
| Website URL | https://simplefx.com/ |
| Headquarters | Kingstown, Saint Vincent and the Grenadines |
| Support Number | +44 20 3695 8885 |
| Support Email | info@simplefx.com |
| Support Types | Phone, Live Chat, E-mail, Skype, QQ |
| Languages | English, Arabic, German, Spanish, French, Indonesian, Japanese, Polish, Portuguese, Romanian, Russian, Vietnamese, Chinese |
| Minimum Trade Amount | 0.01 lots |
| Maximum Trade Amount | 100 lots |
| Free Demo Account |  |
| Regulated | |
| Regulation | The Financial Services Authority of St. Vincent & the Grenadines |
| Account Types | Demo, Live |
| Deposit Methods | Bitcoin, Credit Card, Skrill, Neteller, WebMoney, AstroPay, Bank Transfer, Fasapay, Qiwi, Moneta.ru, Yandex Money, China UnionPay |
| Withdrawal Methods | Bitcoin, Credit Card, Skrill, Neteller, WebMoney, Bank Transfer, Fasapay, China UnionPay |
| Types of Assets | Forex CFDs on Bitcoins, Litecoins, Indices, Precious Metals, Energy |
| Account Currency | AUD, CAD, CHF, CNY, CZK, DKK, EUR, GBP, JPY, NOK, PLN, RUB, SEK, USD, IDR, BTC |
| US Traders Allowed |  |
| Mobile Trading | |
| Tablet Trading | |
Full Review
Company Information
SimpleFX is one of the new online brokers created in 2014. The brand is owned by SimpleFX Ltd., and its headquarters are located in Saint Vincent and the Grenadines. SimpleFX is a fully licensed online broker operating under the authorities of IBC. The company offers an innovative approach to trading with its tested platform and excellent trading conditions. It offers a rare trading experience without any additional information that can distract you. The company offers Forex trading; CFD’s on Bitcoins, Litecoins, energies, indices and precious metals. Its unique Bitcoin trading is really what stands out compared to other online brokers. Registering to trade with this digital currency can be anonymous. Another great feature is that the markets stay open 24/7. The company’s motto is “Keep it simple!” and it is what they are all about. The popularity of Simple FX has already spread throughout 130 countries, and it has acquired more than 20 000 clients. It’s quite an achievement for just two years of operations.
Trading Information
Currently, there is only one option for a Forex trading account provided by Simple FX. It’s called the “Standard” account and offers a lot of features and many trading instruments. There is a total of 60 currency pairs (20 of which are exotic) and variable spreads. They can be as low as 0.00 pips, and the typical is around one pip. Maximum leverage is 1:500 which is quite high, but can be lowered upon request to 1:2. The required minimum deposit is just $1, but the recommended is at least $20. Minimum position size is 0.01 lots the margin call level is at 50%. The stop-out level is at 30%. Hedging and scalping are allowed but sadly there is no swap-free version for Islamic clients. Features like pending orders, one-click trading, trailing stop order and expert advisors are available. Making an account is simple and takes about a couple of minutes to set up. The website might startle you from the start with its unusual looks, but you’ll get the hang of it quickly.
Trading Platforms
The trading platform chosen by the people behind Simple FX is non-other than the most popular Metatrader 4. It gives you the freedom to trade with over 250 instruments and is easy to use by beginner and expert traders. The cool thing about it is you can trade directly from charts and signals. The charting capabilities are amazing, and it will take virtually no time at all to set up your custom trading space. MT4 is suitable for most nowadays computer devices and OS’s (Windows and MAC supported). It also has dedicated apps in the Android and Apple application stores. The only thing that’s been lacking all these years is a web browser platform. Well, Simple FX have got this covered with a WebTrader platform which you can use primarily with any computer browser as long as it has the internet connection. It makes it easier for people who don’t like to download and install additional stuff on their desktop computers. They can just log in with their credentials and start trading. However, there is no mobile browser support.
Security and Customer Services
Security at Simple FX is to ensure by the SSL protocol that is implemented on every page on their website. It protects your personal data and makes it accessible only to the company’s employees. Another excellent feature is the segregated account option which means that your funds are deposited separately from the companies. If by chance, anything happens to the company’s funds you will have the option to withdraw all your funds. Now, as far as customer support is concerned Simple FX offers all the needed features. It has a Support page where you can find answers the most asked questions and helpful information about payments, forex terms and of course, Bitcoins. The website is translated into 12 languages, and there is customer support in English, Chinese and Russian. There are plenty of ways to contact the client care team. The most used Live Chat option is available along with a couple of phone numbers and emails. They also have a ticket system for bugs with the platform or the website and a ticket history where you can follow all the questions you’ve submitted. There are a lot of educational materials on the site that can pretty helpful for a trader who doesn’t know how to use the website or doesn’t understand the basics.
Deposits and Withdraws
Funding your Simple FX account is hassle free, and there are more than nine methods that you can use to fund it. What’s great about these methods are that almost all of them are instant. There are no deposit fees whatsoever. However, the minimum deposit cost varies between different methods and can go up to $10 minimum deposit requirement. The only maximum deposit limit is via credit/debit card and it’s $4000. Deposit currencies are thoroughly explained on their deposit and withdrawals page. Withdrawals can be made the same way you deposited the money and it’s required by the company. If you have used several methods to deposit funds, the one with the biggest deposit must be utilized. Withdrawal processing times are quick and go from instant to 72 hours.
Deposit Bonus and Loyalty Programs
Surprisingly there are no deposit bonus programs at Simple FX, which is not expected from a young broker like them. It seems that they attract enough customers as it is and they don’t need flashy promotions to keep their clients interested. There is an Affiliate program if you’re interested but that about it.
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