Thank you for taking the time to read our SimpleFX review. Be sure to go through all of it. It's important to learn about the forex trading platform for you and it's just as important to have a better understanding of the forex world.
Money is always a big deal since it makes the world go round, taking the best decision is critical for having success in life.
We're about to see what this forex trading is all about, so sit back and grab a cup of coffee or favorite beverage, as we go through this review with you!
SimpleFX is forex broker. Simple FX offers the MetaTrader 4 and Mobile forex online trading top platforms. SimpleFX.com offers over 55 forex pairs, cfds, bitcoins, indices, commodities and precious metals for your personal investment and trading options.
|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Average Spreads|
|Standard||$1||0.01||1:500||1 pips on EUR/USD|
SimpleFX provides a single kind of trading account without any minimum preliminary deposit requirement, leverage as much as 1:500 and competitive spreads. The trade size is set to 0.01 by default on the broker's exclusive web platform and micro lots are likewise readily available for trade on the MT4.
Furthermore, SimpleFX uses 15 base account currencies, a vast array of trading instruments and anonymous registration for bitcoin users.
The Company. Security of Funds
SimpleFX is a NDD offshore FX broker, offering online trading 60 currency pairs, CFDs on indices, products and rare-earth elements, along with numerous cryptocurrencies through both the MetaTrader 4 and the broker's internal web-based platform.
Minimum Initial Deposit
There is no minimum preliminary deposit required by SimpleFX, so one may open an account with simply $1.
Spreads & Commissions
SimpleFX uses just competitive fixed spreads for forex sets, which, in contrast to variable ones, don't expand during press release. The advantage with variable spreads is that they are normally lower than the others, nevertheless that is not exactly the case with SimpleFX. Its spreads are as low as 1 pips for the EUR/USD pair, and on top of that there are no commission charges.
In comparison, another offshore broker – FX Option– supplies variable spreads 0.5 pips on EUR/USD with commission of $7 per lot on ECN accounts, while commission-free accounts offer typical spreads of 1.2 pips on EUR/USD.
You may search for and compare real-time spreads of 15 leading brokers here.
|Account Balance||Leverage Level Up To:|
|$100,001 and above||1 : 100|
|$100,000 – $50,001||1 : 125|
|$50,000 – $30,001||1 : 150|
|$30,000 – $20,001||1 : 175|
|$20,000 – $10,001||1 : 200|
|$10,000 – $7,001||1 : 300|
|$7,000 – $5,001||1 : 400|
|$5,000 and above||1 : 500|
When it comes to take advantage of, with SimpleFX it depends upon the customer's account balance:
The optimum leverage levels provided by SimpleFX are high, reaching 1:500. Such take advantage of levels make it possible for traders to make striking revenues when the marketplaces move in their favor, however, the opposite is also possible. Need to the marketplace relocation against them, it might burn a hell of a hole in their pockets.
Nonetheless, a variety of forex brokers offer leverage equal to or exceeding 1:500, while FX Choice's maximum take advantage of depends on 1:200.
While more advanced traders may choose downloading the popular MetaTrader 4 platform, many will be content to trade from the proprietarily-built web-based platform, which provides wide variety of trading items and the ability to get started right away.
SimpleFX's proprietarily web-based platform. Click to increase the size of.
The SimpleFX platform is geared up with advance charting tools, on/off buttons for one-click trading and FIFO (hedging). There is a shoutbox in the ideal side of the screen, live support and education are also readily available.
MetaTrader4 (MT4), which is likewise supported by SimpleFX, is readily available as desktop and mobile variations.
The fast, steady and trusted SimpleFX MT4 platform provides all a trader requires: interactive charts, a wide range of Expert Advisors (EAs), substantial back-testing environment, 23 analytical challenge draw formations on the chart and 30 built-in technical indications considerably simplify this job. Furthermore, if you do not have the abilities or the time to trade, you might always rely on trading signals and automatically copy the deals of other traders.
SimpleFX account deposits and withdrawals can be performed by the following payment modes:
- Bank wire transfer;
- Credit/debit cards;
- e-wallets: Skrill, Neteller, AstroPay, WebMoney, FasaPay, Qiwi, Moneta.ru, Яндекс and China UnionPay;
- cryptocurrencies: bitcoin & litecoin.
SimpleFX is an ingenious offshore broker that uses large range of financial instruments to trade, including currency sets, different CFDs, and cryptocurrencies. Although it is not regulated, this brokerage is worth having a look at, especially by bitcoin users.
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