SIMPLEFX

SimpleFX Review: Is SimpleFX a Good Broker?

Broker overview and general information

SimpleFX is an online Forex broker that offers a wide range of trading options. It was founded in 2014 and is headquartered in Saint Vincent and the Grenadines. The company is known for providing CFDs, Cryptocurrencies, Forex, Commodities, Global Stocks, Indices and Precious Metals. The broker has made a name for itself in the trading world by offering a wide range of trading options that are easy to access.

Licensing and Regulation

If you ask whether SimpleFX is good, you should start by considering the license and registration factors first, which are detailed as follows:

• FINANCIAL SERVICES AUTHORITY St Vincent & The Grenadines (FSA) License No. 22361 BC 2014 under SIMPLEFX LTD.

• Mauritius' Financial Services Commission (FSC) License No. GB23201604 under 8TECH LTD.

⚠️Warning: Although the broker is regulated, many users are concerned about the FSA and FSC licenses, which are less strict in terms of regulation. This makes users feel uncertain about the regulation under this agency. Therefore, this factor should be reconsidered before investing.

Products and services

Trading products

SimpleFX offers a wide range of trading tools including:

• Cryptocurrencies: such as ADA, ATOM, BAND, BCH, BNB, BTC, BUSD, CAKE, DAI, DASH, DOGE

• Forex: Major, Minor and Exotic pairs such as EUR/MXN, USD/TRY and USD/ZAR.

• Commodities: Commodities such as gas and oil.

• Indices: Indices such as NYSE, NIKKEI and DAX.

• Stocks: Stocks of companies like Snapchat, Google, and Facebook.

• Precious metals: gold and silver

Trading Platform

SimpleFX offers a wide range of trading platforms to choose from:

• MetaTrader4 (MT4): A popular trading platform developed by MetaQuotes Software Corp.

• SimpleFX Webtrader: Web-based trading platform developed by SimpleFX.

• Mobile Application: Supports both iOS and Android systems, easy to use and convenient.

SimpleFX Review: Account Types

SimpleFX does not clearly state the different account types, but there is information about the general features of the accounts as follows:

• Spread: Starting at 0.1 pips

• Leverage: Up to 1:500

• Swap: No rollover fees or interest

• No commission

• No minimum deposit

Deposits and Withdrawals

SimpleFX supports deposits in 5 cryptocurrencies (Bitcoin, Litecoin, Ethereum, Dash, Bitcoin Cash) and 15 fiat currencies (USD, EUR, GBP, etc.). Bank Transfer, Skrill, Neteller and credit cards are also supported. Withdrawal fees are 0.5 USD, and different countries have different deposit and withdrawal conditions.

Customer Support and Services

• Email:[email protected]

• Live chat

• SimpleFX offers 24/5 customer support.

• Supports multiple languages including English, Japanese, Polish, Portuguese and Spanish.

Summary of SimpleFX Broker Review: Is it Good?

SimpleFX is an online broker founded in 2014, offering CFD trading on a wide range of assets including Forex, Cryptocurrencies, Commodities, Indices and Shares. SimpleFX's highlights include no minimum deposit requirement, leverage up to 1:500 and support for deposits and withdrawals via a wide range of cryptocurrencies. Trading platforms available include MetaTrader 4 and its own developed WebTrader platform.

However, SimpleFX is not regulated by any reputable financial authority and has limited educational resources, so investors should consider the risks and do more research before deciding to use the service.

SimpleFX FAQ

Q: What cryptocurrencies are supported?

A: SimpleFX supports a wide range of cryptocurrencies, including ADA, ATOM, BAND, BCH, BNB, BTC, BUSD, CAKE, DAI, DASH, DOGE, DOT, EOS, ETC, ETH, LINK, LTC, MANA, MATIC, OKB, ONT, USDP, PAXG, PYUSD, SAND, TRX, UNI, USDC, USDT, WBTC, XRP, XMR, XTZ, YFI, YFII, ZEC.

Q: How do I make a deposit?

A: You can deposit using 5 cryptocurrencies (Bitcoin, Litecoin, Ethereum, Dash, Bitcoin Cash) and 15 fiat currencies (USD, EUR, GBP, etc.). You can also use Bank Transfer, Skrill, Neteller, and credit cards.

Q: What trading platforms are available?

A: SimpleFX offers MetaTrader4, SimpleFX Webtrader and mobile applications for iOS and Android.

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 SimpleFX Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions, and more with real user reviews to help you decide on the broker that suits your needs.