SimpleFX Review – Does Simple FX Really Work?

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Simple FX REVIEW

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Summary

Simple FX is an established online Forex broker with large leverage available for new members

Read 100% Free Simple FX Review by Scamorno Team

Details

System Simple FX
Website URL www.SimpleFx.com
Trial Start Trial
Overall Score 9.3/10

FULL REVIEW OF SimpleFX

To open an account, you must fulfill a minimal first deposit of $0, which is much lower than the average and may benefit traders who are just starting out. Additionally, SimpleFX.com 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 Simple FX

The offered margin-call level in Simple FX is 100%, which represents a fairly safe threshold for investment.

Standard Trade Information

Spread Type
Variable
Execution Type
Market Execution
Instant Execution
Margin Call Level
100%
Stop Out Level
30%
Number of Currency Pairs
60

Account Setup

Demo Available
Yes
Minimum Account Size
$0
Minimum Position Size
0.01 Lot
Maximum Leverage
500:1
Account Currencies
Canadian Dollar
Euro
Great Britain Pound
Swiss Franc
United States Dollar

Review Verdict: Simple FX is a legitimate platform that works

Visit Simple FX Website

Is Simple FX Risky To Use?

Were eviewed options and limitations offered by SimpleFX.com to its clients in order to measure the risks for the broker. The risk assessment takes into account multiple factors.

This is what stood out when it came to evaluating SimpleFX.com:

  • 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 Simple FX risks are right around average compared to the other brokers in the industry.

What Are The Trade Options Available In Simple FX?

SimpleFX.com 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 traderes looking to be able to safeguard their trades.

Strategies

Hedging
Available
Scalping
Available

Options

Tradable Instruments
Forex
Gold
Oil
Silver
Stock Indexes
Payment Methods Available
Credit/Debit Cards
Wire Transfer

 

Review Verdict: Simple FX is a legitimate platform that works

Visit Simple FX Website

More Information About Simple FX

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 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 Simple FX?

With SimpleFX, 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 also offers live accounts for bitcoin traders and a standard trading account.

Trading Account in Simple FX

Account type Minimum deposit Minimum trade size Maximum leverage Average Spreads
Standard $1 0.01 1:500 1 pips on EUR/USD

SimpleFX 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 offers 15 base account currencies, a wide range of trading instruments and anonymous registration process for bitcoin users.

 

SimpleFX 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 is a brand of SimpleFX Ltd., a firm registered in the St. Vincent and the Grenadines.

nReview Verdict: Simple FX is a legitimate product that works

Go To Simple FX Website

Conclusion about Simple FX

bestchoice

SimpleFX 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.

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