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5-10 years Good
Regulatory Index 3.51
Business Index 7.48
Risk Management Index 0.00
LicensesLicensed Entity：8TECH ZA (PTY) LTD
License No. 53073
Warning: Low score, please stay away!
Saint Vincent and the Grenadines
WikiResearch
Barbados
simplefx.com United States Barbados
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| Quick SimpleFX Review Summary | |
| Found | 2014 |
| Registered Country/Region | Saint Vincent and the Grenadines |
| Regulation | No license |
| Market Instruments | Cryptos, forex, indices, commodities, equities, metals |
| Demo Account | ✅ |
| Min Deposit | $0 |
| Max Leverage | 1:1000 |
| EUR/USD Spread | Around 0.9 pips |
| Commission | $0 |
| Trading Platform | Mobile, Desktop, Web |
| Payment Method | Wire transfers, e-payment systems, bank cards and cryptocurrencies |
| Customer Support | Live chat |
| Bonus | Up to $2,500 on your first deposit |
| Regional Restrictions | USA |
SimpleFX is a CFD broker offering leveraged trading with competitive fees and no minimum deposit. SimpleFX Ltd is based offshore in St. Vincent and the Grenadines and has been in operation since 2014, providing a variety of CFDs and cryptocurrencies through a single account.
| Pros | Cons |
| • Wide range of tradable assets | • No regulation |
| • Demo accounts available | • US clients are not allowed |
| • No minimum deposit | • Inactivity fees charged |
| • Live chat support |
SimpleFX offers trading in cryptos, forex, indices, commodities, equities, and metals.
| Trading Assets | Available |
| Cryptos | ✔ |
| Forex | ✔ |
| Indices | ✔ |
| Commodities | ✔ |
| Equities | ✔ |
| Metals | ✔ |
| Stocks | ❌ |
| Bonds | ❌ |
| Options | ❌ |
| ETFs | ❌ |
Apart from demo accounts, SimpleFX offers a single live account with access to all tradable financial instruments on either platform. There is no minimum deposit requirement and accounts can be opened in multiple currencies. The minimum contract size is 0.01 lots for FX, commodities and cryptos. The margin call is 50% and the stop-out level is 30%. Traders can create up to 3 accounts per available account currency.
Note that if the account is inactive, additional 3% fee will be added (min. USD 25).
Products can be leveraged up to 1:1000 at SimpleFX. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Trading at SimpleFX is commission-free. Spreads are around 1.3 pips for major indices like the FTSE 100. For EUR/USD, average spread is around 0.9 pips and for gold. In comparison to similar brokerages, these trading fees are fairly competitive.
SimpleFX offers its proprietary platform, available on Mobile, Desktop, and Web devices.
| Trading Platform | Supported | Available Devices | Suitable for |
| Proprietary platform | ✔ | Mobile, Desktop, Web | / |
| MT4 | ❌ | / | Beginners |
| MT5 | ❌ | / | Experienced traders |
SimpleFX says to offer wire transfers, e-payment systems like Neteller and Skrill, bank cards and cryptocurrencies such as Bitcoin and Dash.
If you dont already have crypto, you will need to buy some using an exchange. In most cases, there is no minimum or maximum deposit limit, and also, no fees are charged.
Withdrawals need to be made via the same method that was originally used to deposit funds. Wire transfer withdrawals can take 3-5 working days. Withdrawals via e-payment systems, bank cards and cryptocurrencies are processed within 24 hours. Note that withdrawal requests made during weekends will be processed on Monday.
Is SimpleFX regulated?
No. It has been verified that SimpleFX currently has no valid regulation.
At SimpleFX, are there any regional restrictions for traders?
Yes. SimpleFX does not accept clients from the USA.
Does SimpleFX offer demo accounts?
Yes.
Does SimpleFX offer the industry-standard MT4 & MT5?
No. SimpleFX only offers its proprietary platform, available on Mobile, Desktop, and Web devices.
What is the minimum deposit for SimpleFX?
There is no minimum initial deposit requirement.
Does SimpleFX charge a fee?
Like every forex broker, it charges a spread fee but no commissions. It also charges a 3% inactivity fee (min. USD 25).
Is SimpleFX a good broker for beginners?
No. SimpleFX is not a good choice for beginners. Though it performs well, it lacks legitimate regulations.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
While you are free to choose the broker that suits your needs, it is crucial to remain cautious during the selection process. Many brokers may appear genuine at first glance, but in reality, they operate fraudulently. SimplyFX is one such broker that raises serious concerns. Read this article to understand why we consider SimplyFX to be a potential scam broker.
SimpleFX is a CFD broker offering leveraged trading with competitive fees and no minimum deposit. SimpleFX Ltd is based offshore in St. Vincent and the Grenadines and has been in operation since 2014, providing a variety of CFDs and cryptocurrencies through a single account.
SimpleFX's new service enables customers to boost their cash flow by staking TRON and Binance Coin (BNB) with no deposit freezing or fees.
Go to SimpleFX Reward Center, and click the “Join Now” button in the March Cashback tab. The offer started on March 14 and ends on March 31.
Yes, SimpleFX offers a demo account, which is perfect for me as a beginner. It gives me a risk-free environment to practice trading, explore the platform, and test strategies. I always recommend using a demo account before going live because it helps me get comfortable with the trading platform and understand how it works. The SimpleFX demo account is a valuable tool for testing everything from market analysis to trade execution, without the pressure of risking real money.
SimpleFX offers up to 1:1000 leverage, which is incredibly high. This kind of leverage can be appealing for traders who want to maximize their profits, but for me, it’s important to remember that higher leverage also comes with higher risk. If I’m not careful, I could end up losing more than my initial deposit. I tend to avoid using the full 1:1000 leverage and prefer to keep it lower until I become more comfortable with the platform. It's definitely a tool that can work in my favor, but it’s something I would approach with caution.
While SimpleFX doesn’t explicitly advertise Islamic accounts, I would reach out to their customer support to inquire about the possibility of opening one. Many brokers that don’t openly offer Islamic accounts can still accommodate such requests on a case-by-case basis. Since I know that SimpleFX is flexible with account types, it’s worth asking about the availability of a swap-free account if that aligns with my trading values.
One of the best things about SimpleFX is that there are no deposit fees, which makes it easier for me to fund my account without worrying about additional costs. I can deposit funds via wire transfers, e-payment systems like Skrill or Neteller, or cryptocurrencies, and none of these methods incur extra fees. This is especially important for me as I prefer a broker that doesn’t charge fees just to get my money into the account. The flexibility in deposit options is also beneficial, as I can use whatever method works best for me without being penalized.
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FX2982372436
Spain
This broker modifies charts, deceives with their commissions and opens orders automatically. I do not recommend using it at all, especially with large amounts of money.
Exposure
Mayaz Ahmad
Bangladesh
A client has reported that simple fx manipulates trade so that clients do not make profit and when clients make profit simple fx blocks their account. Big scam.
Exposure
Mayaz Ahmad
Bangladesh
Simple fx has scammed many clients by deleting their trades and making them lose lot of money. They pretend to be a generous broker but their work reflects fraud. They also pay reviewers to give fake positive reviews about themselves.
Exposure
search4 360forensic
Australia
So, starting from October 26th, i tried to withdraw money but got rejected. They mentioned something about giving bonuses because of their activities, right? And then last week, i tried to withdraw your profits, there was a problem with the server, and the customer service gave a lot of excuses.
Neutral
faier
South Korea
Personally, it's true that simplefx can be traded in cryptocurrency without certain regulations and kyc. But this is the same system as other trusted bingx cryptocurrency exchanges. I haven't had any errors or withdrawal errors so far using simplefx, and I've been doing very normal trading activities. I am a broker who is willing to continue trading.
Positive
FX2853658601
Japan
There are two simple FX. The first is the introduction from the romance scam https://www.simpfxp.com. The image is the screen of the site introduced from this romance scam. The second is simple FX https://simplefx.com that appears when you search the web. When you compare the URLs, there are the following two differences: -www exists-there is an alphabet at the end-the first romance The features of simple FX used by fraud are the following two points ・ Characters cannot be read Initially displayed in English version, then can be changed to Japanese, but it is not completely converted and it is an appropriate list of characters・ When trading with investment, buying and selling transactions are usually required, but there are only two choices, "buy more" with the red button and "buy short" with the green button.
Exposure