SimpleFX Review

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Contributor, Benzinga
September 2, 2021
SimpleFX Forex
Best For
  • Users Who Use MT4
securely through SimpleFX Forex's website
1 Minute Review

SimpleFX is a cutting-edge online trading app, allowing you to invest fiat money or cryptocurrency in forex, crypto, indices, precious metals and commodities. With the WebTrader, you can learn to invest online and unlock advanced features designed for your success.

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Best For
  • Traders who need lots of options
  • Customers who wish to invest with leverage
  • Multicurrency traders
  • Cryptocurrency owners who would like to invest with them
  • Traders who prefer to skip the KYC and sign up just with an email address
  • Experienced traders who would like to use MT4
Pros
  • Simple to manage
  • 60 currency pairs
  • Spreads as low as 0.1
  • Trading never closes
  • Stock trading
  • No minimum deposit
  • No KYC for cryptocurrency accounts
  • On the market since 2014
Cons
  • Almost too many options for new investors
  • Not yet available to U.S. users

SimpleFX Forex Ratings at a Glance

SimpleFX Customer Service
SimpleFX Pricing
SimpleFX Mobile App
SimpleFX User Benefits
SimpleFX User Experience
SimpleFX Overall

How to Invest with SimpleFX

When you visit SimpleFX, you can invest in a wide range of assets, including:

  • Stock
  • Commodities
  • Currencies
  • Crypto
  • Indices

When you invest through SimpleFX, you can sign up right away and fund your account. 

There are 60 currency pairs to choose from. You get spreads as low as 0.1, and the forex, crypto, precious metals and indices trade 24/7/365.

You can also trade in:

  • Equities DE
  • Equities JP
  • Equities US
  • Equities BR
  • Equities FR
  • Equities SE

The software used by SimpleFX is automated to ensure you get the best deal on every transaction. You connect to your favorite exchange using a secure API, and the software stabilizes your account using real-time data. 

The WebTrader on the site helps you trade in your own time, and you can use the MT4 app if you want to trade on a mobile device. Using MT4 gives you access to multiple closes, no limit levels, trailing stops and expert advisors. 

ETH2 staking is also available, allowing you to earn 8.55% annual interest on your ETH deposits. With no fees or minimum deposits, you can use those funds for another crypto investment or additional trading, save your money and improve ETH as a whole. 

In addition to all these lovely features, you have no minimum deposit and leverage is available up to 1:500. 

grab-bonus-screenshot

SimpleFX Customer Service

When you visit SimpleFX, the support section is filled with all the answers you need. Search for the answers you need, read through all the information on the site and use it to improve your trading. Because it can be difficult to “DIY” your trading, you should consider reaching out to SimpleFX for further information.

You can email support@simplefx.com for assistance, or you can reach out through Facebook, Twitter, Telegram or watch its videos on YouTube.

If you need more help, you can click on the button at the bottom right corner of the screen to speak with a live agent. If you prefer to get your information from other traders, visit the community forum where you can ask questions, chat with traders and read information left behind by previous posters.

Aside from impeccable customer service, the site is more than secure. Negative balance protection, 2-factor authentication, segregated accounts and secure transfers ensure your satisfaction and safety. 

With so many support options, SimpleFX almost does not need a phone number. However, it would be nice to know you can pick up the phone when you like. Combining all these factors, SimpleFX receives 4.5 stars for customer service.

SimpleFX Pricing

With no extraneous fees, SimpleFX makes it possible for you to trade while only paying the swap and spread on each transaction. These fees are simple enough to understand, and you can account for them much more easily than random fees that cut into your profits. 

Just recently, SimpleFX added Lighting Network BTC payments. This payment protocol allows you to complete instant, anonymous transactions with practically no fees.

Bonuses include up to a $2,500 bonus with your first deposit, as announced on the SimpleFX blog on June 9, 2021.

Users can also benefit from cashback promotions. The next one is scheduled to take place in September 2021. SimpleFX also annually makes promotions on Black Friday and Bitcoin Pizza day.

You earn up to 50% of the revenue share from someone you’ve referred. Plus, you receive 5% of the revenue shares from your 2nd-line referrals.  

With such a simple fee structure and wonderful bonuses, SimpleFX receives 5 Stars

SimpleFX Mobile App

Yes, you can trade through the MT4 mobile app on iOS or Android, but you can also click a link to download the SimpleFX mobile app.

A special note for iOS users — you must “trust” SimpleFX to use the app after it downloads. Go to your Settings app > General > Device Management. Click on the SimpleFX icon, then click Trust SimpleFX Ltd.

The app is colorful and easy to read — just like the WebTrader. You can see your open, pending and closed positions. You can search for assets you would like to invest in, check your account settings and use a demo account to test your investing prowess. 

While the mobile app is easy to use and manage, going through the company’s website instead of simply searching in the App Store, Play Store, or App Gallery makes it a little bit more difficult to find and research. With all these things taken into account, the mobile app receives 4.5 Stars.

SimpleFX User Benefits

SimpleFX makes it possible for you to:

  • Trade in a variety of ways.
  • Secure your funds.
  • Deposit fiat and crypto.
  • Connect to exchanges.
  • Read the blog.
  • Use the Web or MobileTrader.
  • Multiple widgets to help with your trading.

While SimpleFX offers quite a few options for every trader, it would be nice to have a few more widgets that break down the market into smaller pieces for the novice trader. Moreover, an advanced trader may want a little bit more information when making decisions.

With all these options, SimpleFX receives 4.5 Stars.

SimpleFX User Experience

The user experience at SimpleFX is not as simple as the name. The site is quite massive, making it difficult to read through in its entirety. Navigation is simple, but you can get lost at times if you don’t simply scroll to the bottom of the page and select the category you need. 

When you visit the WebTrader, the page immediately turns over to the trading pages with all the stock symbols, news items and trading ideas. You can get started right away, and you can even review your rewards, referrals, accounts, deposits, staking and settings. You can also access your settings and the community forum inside the WebTrader — meaning you don’t need to open yet another page just to grab a little more information. 

Change to your desired language, including German, Spanish, French, Hindi, Indonesian, Korean and a few more. With a quality experience and simple WebTrader, SimpleFX receives 4.5 Stars.

SimpleFX Forex
Best For
  • Users Who Use MT4
securely through SimpleFX Forex's website

SimpleFX vs. Competitors

SimpleFX stands out from the competition by providing you with:

  • A substantial support and information section, far greater than what most platforms offer
  • Free trading and no minimum deposits
  • Fiat and crypto deposits
  • A blog that gives you current information on the market and how SimpleFX fits into it

Aside from these stellar qualities, SimpleFX is simple to use, making it far less complicated than most of its competitors. A novice will feel right at home, and a professional can easily step in and open an account to diversify your portfolio. 

SimpleFX Overall

SimpleFX is an excellent trading platform that brings you in touch with a wide range of investment options and automated services. The site is packed with information, customer support options are robust, fees are extremely low and the trading applications are powerful.

All in all, Simple FX receives 4.5 Stars for giving traders everything they need and still leaving some room to grow. 

Simple FX Tutorial

Frequently Asked Questions

Q
Can you trade forex with $10?
A

Yes, you can trade forex with $10, but you should ensure that your broker allows you to trade with such a small amount of money. You can take positions on currency pairings and increase the value of your account through wise investments.

Q
How much should I invest in forex as a beginner?
A

You should always be prepared to lose the money you invest because investments and markets are volatile. However, you should start with small investments, slowly increasing your positions as you gain confidence and have more money to reinvest.

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