Simplefx Review 2021

That’s especially convenient for traders that happen to live outside the standard trading time zones. Additionally, some use trading as a secondary income source and can’t trade during regular hours. Providing buying and selling opportunities during weekends, holidays, and off-hours are essential in attracting those groups as customers. To open a trading account with SimpleFX, you just need to click the sign-up button on the website and fill out your details. As a part of the account creation process, they require your email address to be verified.

What is SimpleFX

By joining SimpleFX, you will get access to see who’s actually playing and who’s feigning around. Plus, you will also get advantage others just wish, if they had. It’s quite essential for an unitiated trader to know which crypto-currencies are scams and which have the real potential to skyrocket the value just as Bitcoin. Remember, it’s a journey in which you got to find real opportunities for your own rise and safety.

Lack Of Crypto Currency Exchange Options

Fast, reliable, designed and optimized for every device, easy-to-pick-up for beginners yet with unlimited advanced trading features thanks to an intuitive and secure API manager. Trade calculator is a tool which can help you make a trading decision. You may enter trade parameters and check how much potential profit or loss you will make. It shows also required margin to open given trade, daily SWAP values, point value. Simplefx has some pretty attractively priced mainstream instruments, but they don’tr really seem to want your bitcoin CFD trading business. You live in the US and want to trade mainstream CFDs with your bitcoin. After all has been configured, simply click on the buy or sell button, and the order will be placed.

  • Though, one of the most interesting features of this service is their offering on crypto-trading in the Bitcoin Ecosystem.
  • Sky-high optional leverage allows traders to open a position worth $50,000 with just a $100 deposit.
  • That’s a critical feature for a trading app, as it allows you to make an unlimited profit with capped risk.
  • SimpleFX believes in meeting the varying requirements of traders when it comes to offering trading platforms.
  • It also offers trading platforms for Android and iOS devices, ensuring an on-the-go trading experience.
  • Funding your SimpleFX’s Account is free of charges, but withdrawals are subject for network fees.

However, they could have had more selection when it came to their metals and commodities. We would also liked to have seen more cryptocurrency assets to trade. Well, if the remaining margin falls below 30% of the initial required margin then you will automatically be stopped out. This is done in order to manage the inherent risk from trading with leveraged products. At SimpleFX, you are only only trading with a margin that is a fraction of the size of the trades that you can take on.

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Given that most accounts are funded with cryptocurrencies, SimpleFX needs to have robust coin management procedures in place. The main benefit of segregated accounts it that if the broker was ever in financial difficulty, they would not touch the client’s funds as they are held in a separate account. This is no doubt one of the most important questions for any trader. The safety of the broker and hence their funds are top of our list when looking at brokers. Focused on a global audience, the site and platform has been translated into over 18 different languages.

What is SimpleFX

That means newcomers shouldn’t have much trouble figuring out how to use it and things are all placed logically throughout the site. which means the broker has the ability to close your positions before it’s too late to keep you in good standing.

Of course, you should also take note of the country that you are located in as deposit options may differ based on that. You can quickly and easily create a demo account and SimpleFX will give you 0.4BTC of demo Bitcoin to trade with. On the demo account, you will replicate the trading conditions on the live exchange. Something else that you may want to make use of before you fund a live account is the Demo account on SimpleFX. This is basically a simple and risk-free way for you to test your trading strategy. If you are depositing with cryptocurrencies, then you do not need to worry about verification at SimpleFX. However, if you are going to be depositing with fiat you will have to complete KYC in order to remain on top of the AML procedures at the broker.

What Is Simplefx

This is when you are trading on the margin and it means that your trades are leveraged. You will be happy to note that there are no deposit fees for any type of inward payment to SimpleFX. Most of these spreads appear to be reasonable and are in line with other brokers on the market. There EURUSD spread is perhaps one of the thinnest that we have seen.

You can also edit your take profit and stop loss levels after submitting your order. The SimpleFX user interface is easy to get around – as the platform’s name implies, ease of use seems to be one of the key concepts behind SimpleFX. In the top left corner, you can search for the symbol you want to trade, for example BTC. The selection covers Bitcoin and Ethereum, as well as forex hero some of the largest altcoins on the market – coins like Chainlink, Polkadot and Tezos. At the moment, SimpleFX does not list any crypto-to-crypto pairs such as ETH/BTC. Crypto currencies allow the people to buy, trade and invest without the involvement of banks and other financial institutions. Crypto currency doesn’t have a physical form, the digital asset remains as data.

For the records, this service has a 2FA, HTTPS, segregated client trust accounts and cold wallets. From there, you’re ready to hop into the markets and start trading right away! Next forex analytics up, let’s take a look at how to make your first deposit to begin trading. Creating an account with SimpleFX is easy and only takes a few minutes depending on your funding method.

What is SimpleFX

The other platform that is on offer at SimpleFX is their MT4 platform. For those who do not know, the MT4 is one of the most advanced third-party trading platforms that is developed by MetaQuotes.

Trading FX or CFDs on leverage is high risk and your losses could exceed deposits. Maybe you will go and BUY some reviews in your facebook page like you did with your fake 70k bot followers, but those money went in vain dear Sirs of SimpleFX. Obviously even the very few positive reviews in here or other forex sites, which hold your score from going to 1, are fake by insiders of your company or by paid people.

Simplefx Trading Tools

However, there are no card options, which is worrying because it might prevent potential customers from depositing, and it also adds to the overall shady atmosphere. That limits customization quite a bit and can feel like a slap in the face for high investors. The whole setup clearly favors budget traders, but it’s sad that higher spenders get entirely forgotten. An unregulated company at an offshore location already sets off a lot of red flags. Something like that is perhaps passable for a brokerage that’s still fresh, but SimpleFX has been around for over five years.

What is SimpleFX

For those opting to use cryptocurrencies instead of fiat, there is no KYC verification required. Both of these are a series of informative blog posts walking new users through the setup process step-by-step as well as explaining more complex trading concepts in a simple manner. SimpleFX does offer a robust referral program for those who love the platform so much that they decide to share it with others. Unlike some other platforms that offer a specific amount per referral, SimpleFX utilizes a revenue share model based on how much they’ve generated from each trader you’ve referred. Like the broker’s name suggests, it’s simple to use, looks aesthetically pleasing, and is visually similar to TradingView.

SimpleFX seeks to simplify the Forex Trading by offering two simple types of accounts. Right when you go to their website, it opens right up into a daily chart of BTC/USD.

Deposit Funds In Cryptos Of Fiat Currency

Unlike a traditional margin call, you won’t end up logging into your account only to see a negative balance of hundreds of dollars. Before you open your order, you can also set take profit and stop levels. This feature can be used to automatically close your position and secure a profit if your trade is going favorably, or protect against further losses if the market is moving against your position.

Like these, numerous more traders are talking about their experiences with SimpleFX. Yes absolutely, if you want to trade with crypto then you might want to check this one out. There are no deposit fees, the only fees are when you withdraw, they are very low though, just go to the withdrawal page and you will see the fees for each and every withdrawal method. The rating 4.8 out of 5 stars are based on its Bitcoin trading abilities, if I would rate it as an “overall trading” platform the rating would have been a bit lower. SimpleFX got this, they also got a live chat function between its members so you can communicate with other traders in real time, getting tips and help from other traders. Below is a screenshot from inside the member’s area where you have live charts and also a live chat where you can speak live with other members and/or traders. A very nice function to have, especially if you are a newbie that might be a bit “unsure” of how things work.