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SimpleFX Review: Scam Broker? Our Test!



► Regulated Dealer:
► Regulated Dealer:
► Nameless Alternate:
► Nameless Alternate:

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► Time Stamps ⏰

0:06 Introduction
0:30 Dealer Overview
1:30 Regulation
2:27 Execution
3:00 Damaging Steadiness Safety
3:10 Asset Protection
4:00 Leverage
4:50 Spreads & Commissions
5:48 Deposits & Withdrawals
6:15 Buying and selling Platforms
8:20 Buyer Help

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► Overview 📝

SimpleFX is a big CFD FX dealer that was established in 2014 and relies in St. Vincent and the Grenadines.

They provide leveraged buying and selling on CFDs for leverage all the best way as much as 500:1. They’re additionally an STP dealer and don’t provide ECN accounts. The dealer claims to have over 200,000 accuonts in over 160 completely different international locations.

They take merchants from all over the world besides international locations such because the USA and Canada.

SimpleFX has no regulation which may imply that you just lack sure protections which can be afforded to you by a regulated dealer.

There’s a massive array of property that you could commerce at SimpleFX and consists of crypto, foreign exchange, commodities, ETFs and shares. Crypto property embody Bitcoin, Bitcoin Money, Ripple, Ethereum, Etheruem Basic, Litecoin and Ripple.

Though they do provide leverage of as much as 500x, that is solely on a choose group of property. Cryptocurrency leverage is simply as much as 5x.

With spreads, they begin at 0.1 on EURUSD however can be a lot increased for these property which can be extra volalite. This are floating price spreads which can be tied to the volatility available in the market.

There aren’t any deposit charges althoguh there could also be withdrawal charges which can be associated to Skrill and Fasapay. There aren’t any deposit / withdrawal choices with wires or bank card processors.

There are two buying and selling platforms at SimpleFX. There may be the online dealer platfom that appears to be nicely designed, intuitive and nicely set out for newbie merchants.

Then for the extra superior merchants amoung us you might have the MT4 platform that’s well-known within the foreign exchange business.

There may be additionally cell buying and selling performance each with their webtrader cell app in addition to the MT4 cell app. The latter is likely one of the hottest within the business.

Buyer help is common and they look like responsive through dwell chat. Sadly, there is no such thing as a direct telephone line that you could name for this dealer.

The net status of straightforward FX isn’t the cleanest so merchants ought to train warning when utilizing this dealer.

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► Warning!! ⚡️

Buying and selling CFDs could be very dangerous. Just be sure you observe enough danger administration to guard your account. These embody cease losses, leverage limits and cash administration practices.

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► Disclaimer 📜

The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who isn’t a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable danger of loss. The speaker doesn’t assure any specific final result. Previous efficiency doesn’t point out future outcomes. Open CDPs at your personal danger!

#Foreign exchange #Buying and selling #FX #Evaluate #crypto #SimpleFX #rip-off #dealer #regulation

Source: Coin Bureau

18 Responses

  1. Love the app! Using it for awhile trying to check my forex trading skills. Easy to navigate through the app. Amazing way to track the markets and your positions while in the go. I do my studies and set-ups at my desk and then watch and manage via this app.

  2. I am trading with SimpleFX for some years and I enjoy trading with them . Never had any issues making deposits and very nice withdrawals. I am really surprised how well they operate their business which doesn't fell far from other big brokers. Sometimes even better! They really make the life simple for traders, I am very satisfied with their services and wish one day they will offer the MT 5 platform………………………….

  3. Hey Dude,
    I've been using this platform for over two years.
    Last time I had an open position, after watching your video I really doubt about SimpleFX.
    Today I closed that position and withdrew my cryptos succesfully.
    I'd like back here to state my comment because there may be other users like me.
    I consider to continue in this platform, right now I am very glad to use this.
    Goodbye!

  4. I have had some problem using this broker
    they close my account and refuse to pay me back over 5btc and 53bch
    they said my trading activity are violating T&C 16.8 and sent me a warning before
    in fact, I did not get any warning and had withdrew over 10btc after some big wining days before

    So I would say if you invest over $5k I would definitely stay away with it
    And why I learnt from it is stay away with unregulated broker
    they are nice to have 50x stock and btc-based account

    If anyone doubt my comment, I can send you all the proof of my daily transaction
    and the withdraw record.

    I tried to post it on ForexPeace but seems like my account was too new and they didn't post it yet
    I hope that no one will be got cheated over 50k from this broker anymore

    Thank You

  5. SimpleFX is one of the best broker ever in the world…they have one of the best trading platform…they provide good services, good leverage, they got the lowest spread and withdrawls are made within 1h or even less and no limit on it. I get the money in the same day which is pretty cool. For me the only thing they must add to their service is to add new deposit system with VISA or MasterCard. That's it…Otherwise no complain about them

  6. I m currently trading there on a live account. I am using their API for my bot. Everything works normal, I did not meet any unusual behaviour. Regulated broker is not always win. Not regulated means additional risk (with many benefits), however the trading on leveraged markets itself is huge risk at all. And If you every trade on cryptomarkets, you alredy know, that this can happem: any large, well known and estabilished exchange can disappear tomorow with very little chance to see your money back.

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