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SimpleFX Trading Platform DEMO
Trade SimpleFX REVIEW
SimpleFX Trading Platform Preview: (to pause video, simply tap/click on it)
Summary
SimpleFX Trading Platform is an established online Forex broker with large leverage available for new members
Read 100% Free Trade SimpleFX Review by Scamorno Team
Details
| System | SimpleFX Trading Platform |
|---|---|
| Website URL | www.SimpleFX.com/Trading |
| Trial | Start Trial |
| Overall Score | 9.3/10 |
FULL REVIEW OF SimpleFX Trading Platform
This is what stood out when it came to evaluating SimpleFX Trading Platform:
- Position: The broker enforces a minimal position size of 0.01 Lot, limiting trader control
- Leverage: The broker permits a max leverage of 500:1 which is very large, and may cause runaway trades if not checked
- Stop-Out Level: The stop-out level is configured at 30%, which is fairly safe
- Margin Call Level: The margin call level is configure at 100%, which is fairly safe
Overall, we would say that SimpleFX Trading Platform risks are right around average compared to the other brokers in the industry.
To open an account, you must fulfil a minimal first deposit of $0, which is much lower than the average and may benefit traders who are just starting out. Additionally, SimpleFX Trading Platform. offers a maximum leverage of 500:1, which is above average compared to all the brokers out there today, meaning that a trader can purchase large positions with a small amount of capital.
Margin Call Levels and Other Pertinent Information About SimpleFX Trading Platform
The offered margin-call level in SimpleFX Trading is 100%, which represents a fairly safe threshold for investment.
Standard Trade Information
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Spread Type
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Variable | ||
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Execution Type
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Margin Call Level
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100% | ||
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Stop Out Level
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30% | ||
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Number of Currency Pairs
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60 |
Account Setup
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Demo Available
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Yes | |||||
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Minimum Account Size
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$0 | |||||
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Minimum Position Size
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0.01 Lot | |||||
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Maximum Leverage
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500:1 | |||||
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Account Currencies
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Review Verdict: SimpleFX Trading Platform is a legitimate platform that works
Visit SimpleFX Trading Platform Website
Is SimpleFX Trading Platform Risky To Use?
This is what stood out when it came to evaluating SimpleFX Trading Platform:
- Position: The broker enforces a minimal position size of 0.01 Lot, limiting trader control
- Leverage: The broker permits a max leverage of 500:1 which is very large, and may cause runaway trades if not checked
- Stop-Out Level: The stop-out level is configured at 30%, which is fairly safe
- Margin Call Level: The margin call level is configure at 100%, which is fairly safe
Overall, we would say that SimpleFX Trading Platform risks are right around average compared to the other brokers in the industry.
What Are The Trade Options Available In SimpleFX Trading Platform?
SimpleFX Trading Platform offers a wide variety of trade options that would greatly benefit all traders. In addition to the wide range of available securities, the ability to scalp is very advantageous to short-term traders looking to commit a high volume of daily trades. Meanwhile, the benefits of hedging may appeal to longer-term traders looking to be able to safeguard their trades.
Strategies
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Hedging
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Available |
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Scalping
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Available |
Options
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Tradable Instruments
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Payment Methods Available
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Review Verdict: SimpleFX Trading Platform is a legitimate platform that works
Visit SimpleFX Trading Platform Website
More Information About SimpleFX Trading Platform
Online since year: 2014
Payment options: wire transfer, Neteller, credit/debit cards, Skrill, Bitcoin, WebMoney
Country of origin: Saint Vincent and the Grenadines
Minimum account size: $1
Leverage: 500:1
Minimum lot: 0.01 lot
Spreads: floating 0.8 pip
SimpleFX Trading Platform is an online brokerage company established in 2014. Its main advantage is the availability of more exotic trading instrument, such as bitcoins. There is a wide selection of trading instruments to choose from: more than 60 currency pairs, stock indices, oil, metals (XAG, XAU, XPD, XPT), bitcoins and litecoins (BTCEUR, BTCUSD, BTCJPY, BTCCNY, LTCEUR, LTCUSD, LTCCNY, LTCJPY).
Which Platform Do You Need To Trade with SimpleFX Trading Platform?
With SimpleFX Trading Platform, members can trade through MetaTrader 4. The broker’s clients are allowed to open up to five live trading accounts and 5 demo accounts. SimpleFX Trading Platform also offers live accounts for bitcoin traders and a standard trading account.
Trading Account in SimpleFX Trading Platform
| Account type | Minimum deposit | Minimum trade size | Maximum leverage | Average Spreads |
| Standard | $1 | 0.01 | 1:500 | 1 pips on EUR/USD |
SimpleFX Trading Platform offers a single type of trading account with no minimum starting deposit requirement, leverage up to 1:500 and competitive spreads. The trade size is set to 0.01 by default on the broker’s proprietary online platform and micro lots are also available for trade on the MT4.
Furthermore, SimpleFX Trading Platform offers 15 base account currencies, a wide range of trading instruments and anonymous registration process for bitcoin users.
SimpleFX Trading Platform is a NDD offshore FX broker, offering online trading 60 currency pairs, CFDs on indices, precious metals & commodities, as well as several cryptocurrencies through both the MetaTrader 4 and the broker’s in-house web-based platform.
Founded in 2014, SimpleFX Trading Platform is a brand of SimpleFX Ltd., a firm registered in the St. Vincent and the Grenadines.
What Are The Fees On SimpleFX Trading Platform?
SimpleFX Trading Platform Exchange implements a fee structure where registration and deposits remain free of charge. However, users encounter an inactivity fee set at 3%. Withdrawal fees are contingent upon the specific cryptocurrency being traded, such as 0.2 ADA, 0.015 ATOM, 0.0002 BNB, 0.1 BUSD, 0.00005 BTC, 0.0003 BCH, 0.001 DASH, 2 DOGE, 0.008 DOT, among others.
Regarding fiat currency withdrawal, the applicable fees vary based on the payment partner. For instance, Fasapay incurs a withdrawal fee of 1%, while Neteller and Skrill levy 3%.
SimpleFX Trading Platform charges spread fees for indices, where spreads for assets like FTSE 100 average at around 1.3 pips, LTCUSD at 0.03, Oil at 0.06, DJI at 3, USDJPY at 0.009, GBPUSD at 0.00012, and BTCUSD at 4.05.
These spread fees generally align with prevailing market standards, sometimes presenting notably lower rates. For example, the EUR/USD pair maintains an average spread of 0.9 pips, while gold hovers around 1.5 pips. The specific fee variation is subject to the particular indices being traded.
What Are The SimpleFX Bitcoin Spreads?
The current SimpleFX Bitcoin Spreads can vary depending on market conditions, but they typically range from 0.1 to 4.05 pips. This means that the difference between the bid and ask price for Bitcoin can be as low as 0.0001 or as high as 0.0405.
Here are some examples of Bitcoin spreads on SimpleFX for different trading conditions:
- Low liquidity: During times of low liquidity, such as weekends and overnight hours, Bitcoin spreads can widen to as much as 5 pips or more.
- High volatility: During periods of high volatility, such as when there is major news about Bitcoin, spreads can also widen to as much as 5 pips or more.
- Normal market conditions: During normal market conditions, Bitcoin spreads are typically in the range of 0.1 to 2 pips.
SimpleFX strives to keep spreads as low as possible, but they cannot control market conditions. As a result, traders should be aware that spreads can widen at any time.
Here are some factors that can affect Bitcoin spreads on SimpleFX:
- Liquidity: Liquidity is the amount of Bitcoin that is available to be traded at any given time. When there is more liquidity, spreads are typically tighter.
- Volatility: Volatility is the degree to which the price of Bitcoin is fluctuating.When the price is more volatile, spreads are typically wider.
- Market sentiment: Market sentiment is the overall mood of traders about Bitcoin. When sentiment is positive, spreads are typically tighter. When sentiment is negative, spreads are typically wider.
Traders should consider all of these factors when choosing a broker to trade Bitcoin with. SimpleFX is a good option for traders who are looking for a broker with low spreads and a variety of trading tools.
Review Verdict: SimpleFX Trading Platform is a legitimate platform that works
Go To SimpleFX Trading Platform Website
Conclusion about SimpleFX Trading Platform
SimpleFX Trading Platform is an innovative offshore broker that offers wide range of financial instruments to trade, which includes currency pairs, various CFDs, and cryptocurrencies.
Even though it is not regulated right now, we have this brokerage to be worth using, especially with the addition of bitcoin instrument trading which can be particularly volatile and profitable to trade with.
