SimpleFX Review: Is It Worth It to Choose?

SimpleFX Review

Using a broker in investing is very important

Currently, there are many brokers who come with a more diverse range of services and offerings.

SimpleFX is one of the brokers that provide services to traders globally.

The uniqueness of this type of broker is that they give their clients the opportunity to open an account and withdraw funds in cryptocurrencies.

Let’s review a little about this Forex brokerage company.

SimpleFX Brokerage Basic Information

SimpleFX is a CFD broker from SimpleFX Ltd. That is a legitimate company that has been operating in the market since 2014.

The company offers leveraged trading at competitive fees and only charges a minimum deposit of 1 USD.

With the 11 Languages ​​it supports, SimpleFX has been able to reach more than 200 thousand traders in 160 countries over the last few years.

Here’s what’s interesting.

With this broker, you can open an account in Cryptocurrency.

SimpleFX is registered as an international financial company with the International Bancshares Corporation (IBC).

However, the activities of these brokers are not subject to financial regulators.

Deposit methods and withdrawal methods can also be done in many ways such as Bitcoin, Dash, Ether/Ethereum, FasaPay, Litecoin, and many more.

The company, headquartered in Saint Vincent and the Grenadines, offers the MetaTrader 4 desktop platform which offers a more sophisticated trading experience.

It can perform automatic inclusion of algorithmic strategies via Expert Advisors and Python, as well as with trading signals and copy-trade features.

Simple FX’s web platform is also accessible in most internet browsers with many interesting features.

One more interesting thing about Simple FX is that they offer a mobile version of their trading application with various supporting features.

About trading with Simple FX:

Account currency USD, Cryptocurrency
USD, Cryptocurrency 1 USD
Minimum trade 0.01
Maximum leverage 1:500
Spreads 0.9 pips
Margin call / Stop out 20% / 20%
Instruments Currencies, stocks, indices, commodities, cryptocurrencies

Is SimpleFX Safe?

From some of the notes above, it can be seen that Simple FX has many advantages that can attract many traders to cooperate.

However, according to Traders Union Simple FX occupies a low position of number 20 on the Forex Brokers Ranking List.

There are many negative reviews about this brokerage company, so Traders Union does not recommend you to cooperate.

Instead, Traders Union provides another alternative from among the Top 5 brokers similar to Simple FX.

These brokers are RoboForex, AdroFX, FXOpen, EadgleFX, and Videforex.

We recommend that you do a comparison between this broker and other trading brokers before you try it.

There is nothing wrong because if you choose the wrong broker, the bad news is that you may experience losses.

Therefore, it is very important to know how to choose the right CFD broker.

There are several criteria that you should consider before choosing a broker to open a trading account.

One of the criteria that must be owned by a broker is to obtain an official license from a regulatory body.

With this license, it means that a broker has followed the rules and is supervised by a regulatory body so that it can be called safe.

Conclusion

Simple FX is one of the brokers for trading that has quite interesting features.

They have distinctive features that can give you the opportunity to open an account and withdraw funds in cryptocurrencies.

This broker offers a minimum deposit of only 1 USD.

In addition, the trading platform is MetaTrader 4 which has worked more sophisticatedly.

The platform is also very friendly for beginners to veterans.

Unfortunately, SimpleFX still has some drawbacks where they focus too much on crypto funding so their non-crypto funding methods are limited.

This broker, which only provides one type of account, also has no financial control and does not allow its clients to withdraw funds to a bank card.

Some SimpleFX users who gave their reviews regret that this broker does not provide technical communication support in multiple languages.

Others argue that the absence of a demo account and its inability to withdraw funds to a bank card make it difficult for their clients to withdraw funds.

Despite these responses, SimpleFX is well-regarded in keeping its promise of simple, sophisticated service.

They have low trading fees and are beginner-friendly in this field.

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