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SimpleFX Overview: Scam Forex Broker? | Everything I found Out!

► Pepperstone:
► IC Markets:


► Time Stamps ⏰

0:06 Introduction
0:20 Broker Overview
1:00 Regulation
1:14 SimpleFX Platform
1:59 Charting
3:02 Spreads / Commissions
4:23 API Functionality
4:48 Support
5:30 Conclusion


► Overview 📝

SimpleFX is a broker that is registered in St Vincent and the Grenadines.

They offer traders CFD trading on Forex, Stocks, Commodities and Cryptocurrencies.

There are no regulations with this broker so you are taking a risk while trading here.

The platform appears to be relatively functional with a range of charting features and one click trading. You can try out a demo for free to get a better sense of it.

You can also chat with other traders in their live chat window.

Full mobile trading functionality on both iOS and Android. They also have an API for those of you who are developers.

There are no fiat wiring options when you trade with SimpleFX. You can fund your account with Bitcoin, Ethereum, Dash, Bitcoin Cash, Ethereum Classic, Monero or Litecoin.

There is also the option to fund via Neteller or through Fasapay if that is your preference.

Customer support is virtually non-existent and you will have to wait a long time if you reach out on chat or email in a question.

There is also a lack of general transparency with this broker. They do not let their traders know where they are based or where their head office is.

There have also been a number of complaints about them online. These include issues with platform price feeds, cancelling winning trades etc.

Instead of trading with SimpleFX, you can use a top regulated broker such as Pepperstone or IC Markets.


► Warning!! ⚡️

Trading CFDs is very risky. Make sure that you practice adequate risk management to protect your account. These include stop losses, leverage limits and money management practices.


► Disclaimer 📜

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome. Past performance does not indicate future results. Open CDPs at your own risk!

#Forex #Trading #FX #Review #crypto #SimpleFX #scam #broker #pennystocks #regulation

Source: Coin Bureau

6 Responses

  1. Other reviewers tried their support with very fast response. This review is not good as others. And don't say unregulated=scam. There is not link between regulation and scam. I have an experience with regulated broker which scams me many times – so being regulated is just false feeling of safety.

  2. Offering high swap rates. What he has to say is valid and company was not interested in a transfer by bank. Crypto transfers take longer as you have to transfer money to company where you buy crypto and Coinsquare then held for 3 days. All in all 6 days to transfer using crypto. Credit card didn't work.

  3. Complete SCAM broker, high spreads, swaps, inactivity penalties & deletion of profitable trades, misquoting, etc, go take a look at their USOil chart, or TSLA chart, gaps the size of the Grand Canyon and completely uncorrelated data , crypto is convenient for speed, also convenient from a thief standpoint, wanna lose your money? send it to simplefx.

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