|Minimum deposit:||From $10 USD|
|Withdrawal fee amount:|
|Inactivity fee charged (Y/N):||N|
|Number of instruments:|
|Time to open account:|
|Demo account provided (Y/N):||Y|
|Countries of regulation:|
Our full SimpleFX review is coming soon.
SimpleFX is an online trading platform, serving more than 200,000 traders, in 160 countries. Based in St Vincent and the Grenadines, the company specialises in Forex and cryptocurrency trading, and also offers indices and commodities such as precious metals and energy, via CFDs. The firm aims to keep its trading platforms simple and straightforward and to provide complete transparency to its customers. With a simple account opening process, free demo accounts, high leverage, and a good range of currency pairs, including digital currencies, there are a few reasons to consider trading with SimpleFX.
SimpleFX generally offers low fees, with no hidden transaction fees, low deposit and withdrawal fees, and competitive spreads (from 0.1 pips). There is, however, a high overnight rollover fee which is charged when you hold a CFD trade overnight, and swap rates are high too. There are also other fees, such as exchange and transfer fees for transactions involving an exchange of fiat currencies. Leverage of up to 1:500 is offered, and there is no minimum deposit. All fees and spreads are displayed on the website.
The broker offers a very user-friendly web-based platform, which can be easily accessed from any device. SimpleFX additionally provides the ever-popular MT4 trading platform as an alternative, along with all the usual integrations and tools MT4 traders expect. SimpleFX supports several different order types on either platform, including limit, stop and trailing stop orders. Various charting tools are available, and it is possible to open several charts at once, to combine tools and indicators. Some customisation is available, and the interface is fairly clean and intuitive.
Customer support is available 24 hours a day, 5 days a week, but only by email and live chat. There is no support phone line, which may discourage some traders. Live chat is available in English, Spanish and Portuguese, with the English option offered 24/5, but the other options only available from 11:00 to 19:00 UTC. There is also a very helpful and quite extensive FAQ page answering many common customer questions. In addition, the company runs active social media accounts on Facebook, Twitter, and Instagram, offering another convenient way for clients to get in touch.
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