Non-crypto options include FasaPay, Neteller and Skrill, where FIAT currencies can be used. Swap rates on overnight leveraged positions apply and an inactivity fee of 3% or at least $25 is levied. Equity indices, or stock indices, are actual stock market indexes which measure the value of a specific section of a stock market. SimpleFX uses mobile two factor authentication for accounts to prevent any unauthorised sign-ins and has full 256bit encryption on their site to stay safe from the threat of man-in-the-middle attacks. SimpleFX has strict solvency requirements and holds a buffer of funds in order to protect against any severe market movements.

I have some investments, but with this being the new wave, I think using a platform that has real time info available all the time will be helpful. A lot of my buddies at work have trading virtual currency, but I hadn’t found a platform that I like. This is a very educational and informative post and I highly enjoyed reading it. The offer for the chance to get 2.5% back on the spread value is amazing. I had never heard of SimpleFX before so I glad you used great details to explain what this company is and how it works. Or if there is no set rule for the minimum amount you need to join then is there an amount that you personally suggest?

Metatrader 4 (mt

They can represent a specific set of the largest companies of a nation or they can represent a specific stock market. SimpleFX offers commission-free trading, but swap rates apply on overnight leveraged positions and an inactivity fee of 3% or at least $25 is levied. Withdrawals via electronic payment systems, bank cards, and cryptocurrencies are processed within 24 hours. SimpleFX is a CFD broker company that has been operating out of Saint Vincent and the Grenadines since 2015 and is based in Kingstown. There are no deposit fees, the only fees are when you withdraw, they are very low though, just go to the withdrawal page and you will see the fees for each and every withdrawal method. Please do NOT invest more money than you can afford to lose into cryptocurrency or ANY other investment and you will be just fine. You can feel safe to put your trust in the services of SimpleFX and if you are a Bitcoin trader I would highly recommend SimpleFX for you.

If you sign up for your FREE account through the link at the end of this review you are eligible for a 2% cashback on the spread value on your first trade with real money . One of the biggest shortcoming of BitMex is their lack of mobile trading apps. Right-hand side shows a sidebar with couple of sections – news panel, trade ideas panel and finally the shoutbox – a chat room where you can sound off anything you like while reading jokes or insults of other users. SimpleFX also has a negative balance protection, which means that the platform will liquidate you in case you run out of funds and won’t let you go in minus – you can’t lose more than you put in. SimpleFX has a free demo account that gets loaded with magic $4000 and 0.3 BTC that you can use to hone your skills with no risk to your actual coins.

To do a trade you should click on the pair you need and choose a New Order option in the menu. There you should specify if you are going to create a Sell or Buy order and choose if it is a market or pending order. As the order gets formed you should click on Submit to place this order in the order book. When traders use SimpleFX’s margin leveraged accounts, they should maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin carries a high level of risk. Education is provided on a SimpleFX blog, apart from the website. Published research and opinion pieces feature short, quality content and new traders may find trading ideas on the blog. An e-mail address is provided, but support hours are not clearly stated, although it seems to be 24/7.

With no commission or fees, a unique affiliate program, multiple deposit options, and its crypto-friendly design, there’s a lot to consider. Before actually trading with money, it is good to familiarize yourself with the operation of the trading platform and learn how to place an order. With SimpleFX, all you need to do to start trading Forex and CFDs, is to access to SimpleFX’s web trader from SimpleFX Official Website. This trading platform is very suitable for computer devices with standard operating systems such as Windows and MAC. It also offers trading apps in Android and Apple application stores. SimpleFX warns all potential traders that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors. Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it.

No, more information on commissions can be obtained from the customer support service. The Spreads are listed as low as 0.1 pips, but the EUR/USD carried an average spread of 0.9 pips. If details on the website are not comprehensive, more information can be obtained from the customer support service. One of the first things a potential trader needs to establish is whether a broker like SimpleFX is safe to trade with.

Lack Of Features

SimpleFX traders have access to two unique resources, a Bloomberg TV feed and a forex analytics Shoutbox. An API is available for the creation of customized trading solutions.

Also, if you got any other questions about this review I will be more than happy to answer them below. The rating 4.8 out of 5 stars are based on its Bitcoin trading abilities, if I would rate it as an “overall trading” platform the rating would have been a bit lower. One thing I always put a lot of weight on when it comes to the quality of a company’s support system is if they have a live chat function or not.

Beside that, the company is COMPLETELY unregulated and the forex forums have been flooded with clients who have lost money from deleted trades. Thier price feeding and spread are little different from other brokers but they pay with little fee.until now smal account . I had believed that the reviews describing simplefx as terrible broker What is SimpleFX might be false or something, like their social manager claimed, so I decided to trade with them. I had been trading with them for over 2 years and I have only good words about them. They have fair prices and the withdrawals were the quickest I have ever seen, I often received a crypto payment after a few minutes since submitting.

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At SimpleFX, you are only only trading with a margin that is a fraction of the size of the trades that you can take on. This is when you are trading on the margin and it means that your trades are leveraged. You can also think of the swap rate as the rollover rate and it is the cost of carry that is applied to your account on a day-to-day basis. You will be able to see the applicable swap rate on the instrument information panel. Given that most accounts are funded with cryptocurrencies, SimpleFX needs to have robust coin management procedures in place.

TradingBeasts helps individual traders learn how to responsibly trade binary options and CFDs. We verify and compare brokerage companies and warn our readers about suspicious projects or scam marketing campaigns. We are also a community of traders that support each other on our daily trading journey. However, because it is a broker that in accordance with our research lacks any regulation, we would be quite sceptical if we were to trade with such a provider. It is not only legit but also one of the best cryptocurrency trading platform out there.

For me one of the best online brokers to use for trading forex and CFDs. There are no minimum deposits at SimpleFX, where most payment options are in cryptocurrencies, except for one. Seeing as SimpleFX accepts deposits of fiat currency, the exchange qualifies as a so called “entry-level exchange”, at which new crypto investors can take their first steps into the exciting crypto world. However, as always, there are network fees involved when making a transaction. This means that the only fee you need to be concerned with when withdrawing from this platform, is the network fees paid to the miner. This withdrawal fee, or rather lack of withdrawal fee, is below the industry average and very competitive.

What Deposit And Withdrawal Methods Simplefx Supports?

In addition, you can interact with the broker on Facebook, Instagram, Twitter and YouTube linked on the website. A forex account at SimpleFX is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies. Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin. SimpleFX does however provide security by the segregation of client funds and a negative balance protection policy.

• Tutorials and the CFD Academy offer additional educational material and video clips that cover some of the most basic aspects of the broker, its platform, and other features.
• Traders may complete this step through their Facebook, Google, Twitter, or Telegram accounts.
• Once the users choose one of the available deposit options, the money will be credited to their account instantly in case of fiat payments and in less than an hour for cryptocurrencies .
• A platform can be a multi-asset one, which means that it allows clients to not only trade forex but also other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.
• In addition, a free demo account can be opted for in order to try out SimpleFX’s trading platforms with virtual funds in a risk-free trading environment.
• However, this variable spread appears to be within the normal range for most brokers, even if not at the lowest end.

If you take inflation into account, your fiat savings are losing value. With forex SimpleFX, you can earn a guaranteed interest on your Ethereum deposits.

We are constantly expanding our offer to satisfy our customers’ needs even more. 3) after a couple of profitable trades they terminated my account without any real reason , just because they don’t wish to pay anything in the future. 1)First of all they are not regulated, not even depositing by skrill is possible.I had to use only crypto for forex analytics depositing. I used the app and website about a month ago a couple of times and can’t say anything bad about this company. I managed to earn something there and I will probably come back to them. Let other traders know if this service is worth checking or should be avoided. To give you the best possible experience, this site uses cookies.

Exchange Fees

This is with good reason – there are still quite a few exchanges that have a very steep learning curve, and require a lot of knowledge about the field in order to be used effectively. You see, when asked about their ideas on crypto, many newcomers to the topic are probably going to use terms such as “decentralized”, “blockchain” and “Bitcoin” – that’s normal. The less-enthusiastic lot, though, will likely tell you about the fraud, scams and hacks that happen in the crypto world. This Simplex review should spark up that enthusiasm quite fast.