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/10

SimpleFX

Saint Vincent and the Grenadines|5-10 years|
Suspicious Regulatory License|MT4/5 full license|Global Business|High potential risk|

https://simplefx.com/

Website

Rating Index

MT4/5 Identification

MT4/5

Full License

SimpleFX-DemoUK

United States
MT4
4

Influence

A

Influence index NO.1

Philippines 7.38

MT4/5 Identification

MT4/5 Identification

Full License

4
Server Name
SimpleFX-DemoUK MT4
Server Location United States

Influence

Influence

A

Influence index NO.1

Philippines 7.38

Surpassed 10.02% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

support@simplefx.com
https://simplefx.com/
Beachmont Business Centre, Suite 404, Kingstown St. Vincent and the Grenadines.
https://www.facebook.com/simplefxltd

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Broker Information

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Company Name

SimpleFX Ltd.

Company Abbreviation

SimpleFX

Platform registered country and region

Saint Vincent and the Grenadines

Company website
Twitter
Facebook
YouTube

Pyramid scheme complaint

Expose

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Warning: Low score, please stay away!
Previous Detection : 2024-02-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

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SimpleFX · Company Summary

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature Information
Registered Country/Region Saint Vincent and the Grenadines
Found 2014
Regulation unregulated
Market Instrument currency pairs, crypto, forex, stocks, indices, commodities
Demo Account yes
Maximum Leverage 1:1000
Spread (EUR/USD) Around 0.9 pips
Commission $0
Trading Platform SFX WebTrader and MetaTrader4
Minimum Deposit $0
Deposit & Withdrawal Method wire transfers, e-payment systems, bank cards and cryptocurrencies

SimpleFX is a CFD broker offering leveraged trading with competitive fees and no minimum deposit. SimpleFX Ltd is based offshore in St. Vincent and the Grenadines and has been in operation since 2014, providing a variety of CFDs and cryptocurrencies through a single account.

Here is the home page of this brokers official site:

home page

As for regulation, it has been verified that SimpleFX currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.90/10. Please be aware of the risk.

General Information & Regulation

Note: The screenshot date is February 16, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

Market Instruments

SimpleFX offers a wide range of tradable instruments in several markets. There are 60 currency pairs, several major indices including the FTSE100, plus dozens of stocks. You can also trade a small selection of hard and soft commodities including oil and precious metals, as well as some well-known cryptocurrencies like BTC and XR.

Account Types

Apart from demo accounts, SimpleFX offers a single live account with access to all tradable financial instruments on either platform. There is no minimum deposit requirement and accounts can be opened in multiple currencies. The minimum contract size is 0.01 lots for FX, commodities and cryptos. The margin call is 50% and the stop-out level is 30%.

Note that clients can create up to 3 accounts per available account currency.

Leverage

Products can be leveraged up to 1:1000 at SimpleFX. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

Trading at SimpleFX is commission-free. Spreads are around 1.3 pips for major indices like the FTSE 100. For EUR/USD, spreads average around 0.9 pips and for gold, youre looking at around 0.17 pips. In comparison to similar brokerages, these trading fees are fairly competitive.

Trading Platform

The platforms available for trading at SimpleFX are SFX WebTrader and MetaTrader4. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.

Deposit & Withdrawal

SimpleFX says to offer wire transfers, e-payment systems like Neteller and Skrill, bank cards and cryptocurrencies such as Bitcoin and Dash.

If you dont already have crypto, you will need to buy some using an exchange. In most cases, there is no minimum or maximum deposit limit, and also, no fees are charged.

Withdrawals need to be made via the same method that was originally used to deposit funds. Wire transfer withdrawals can take 3-5 working days. Withdrawals via e-payment systems, bank cards and cryptocurrencies are processed within 24 hours. Note that withdrawal requests made during weekends will be processed on Monday.

Deposit & Withdrawal

Fees

If the account is inactive additional 3% fee will be added (min. USD 25)

Customer Support

SimpleFXs customer support can be reached by email: support@simplefx.com, partnership@simplefx.com or live chat. You can also follow this broker on social networks such as Telegram, Twitter, Facebook, Instagram, YouTube, TikTok and LinkedIn. Company address: Suite 305, Griffith Corporate Centre Beachmont, Kingstown VC0100, St. Vincent and the Grenadines.

Pros & Cons

Pros Cons
• Wide range of tradable assets • No regulation
• Demo accounts available • Regional restrictions
• No minimum deposit • Inactivity fees charged
• MT4 supported

Frequently Asked Questions (FAQs)

Q 1: Is SimpleFX regulated?
A 1: No. It has been verified that SimpleFX currently has no valid regulation.
Q 2: At SimpleFX, are there any regional restrictions for traders?
A 2: Yes. SimpleFX does not accept clients from the following countries: Algeria, Belgium, The Bahamas, Botswana, Cambodia, Cuba, Ecuador, Ethiopia, Ghana, Iran, Monaco, Myanmar, North Korea, Pakistan, Poland, Saint Vincent and the Grenadines, Panama, Sri Lanka, Syrian Arab Republic, Trinidad and Tobago, Tunisia, United States, and Yemen.
Q 3: Does SimpleFX offer demo accounts?
A 3: Yes.
Q 4: Does SimpleFX offer the industry-standard MT4 & MT5?
A 4: Yes. SimpleFX supports MT4.
Q 5: What is the minimum deposit for SimpleFX
A 5: There is no minimum initial deposit requirement.
Q 6: Does SimpleFX charge a fee?
A 6: Like every forex broker, it charges a spread fee but no commission. It also charges a 3% inactivity fee (min. USD 25).
Q 7: Is SimpleFX a good broker for beginners?
A 7: No. SimpleFX is not a good choice for beginners. Though it performs well, it lacks legitimate regulations.

News

WikiFX Broker Assessment Series| SimpleFX: Is it the Best option?

NewsWikiFX Broker Assessment Series| SimpleFX: Is it the Best option?

2023-10-30 18:59

SimpleFX is a CFD broker offering leveraged trading with competitive fees and no minimum deposit. SimpleFX Ltd is based offshore in St. Vincent and the Grenadines and has been in operation since 2014, providing a variety of CFDs and cryptocurrencies through a single account.

WikiFX
2023-10-30 18:59
News
WikiFX Broker Assessment Series| SimpleFX: Is it the Best option?
SimpleFX Now Allows You To Stake And Trade TRON And BNB

NewsSimpleFX Now Allows You To Stake And Trade TRON And BNB

2023-02-02 14:11

SimpleFX's new service enables customers to boost their cash flow by staking TRON and Binance Coin (BNB) with no deposit freezing or fees.

WikiFX
2023-02-02 14:11
News
SimpleFX Now Allows You To Stake And Trade TRON And BNB
$2,000 Giveaway for Every SimpleFX Trader! Only in March

News$2,000 Giveaway for Every SimpleFX Trader! Only in March

2022-03-18 09:23

Go to SimpleFX Reward Center, and click the “Join Now” button in the March Cashback tab. The offer started on March 14 and ends on March 31.

WikiFX
2022-03-18 09:23
News
$2,000 Giveaway for Every SimpleFX Trader! Only in March

User Reviews

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9

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search4 360forensic
0-3months
So, starting from October 26th, i tried to withdraw money but got rejected. They mentioned something about giving bonuses because of their activities, right? And then last week, i tried to withdraw your profits, there was a problem with the server, and the customer service gave a lot of excuses.
2023-12-16 11:46
Reply
0
0
FX1490436618
more than one year
The glow of trading variety, from heavyweights like Tesla to volatile USOIL, blinded me to the platform's unregulated landscape, a scary sight. The scam noise from user reviews did hit a nerve, warning bells ringing louder. Loved the no minimum deposit clause, as if gate-crashing a high-profile event - thrilling! Their live chat support keeps you company in the darkest of trading hours – full marks there. But alas, the US tribe, this platform doesn’t want to do the tango with y'all. So, tread wisely, mates.
2023-12-04 14:14
Reply
0
0
wuwuo
more than one year
Dove into the unregulated pit of this trading platform, waving a red flag for the scam warnings echoed by distressed users. However, the lure of trading everything from Bitcoin and Ethereum to NDX100 and USOIL, it lit up my trading spirit. Slipping in with no minimum deposit was like entering a candy store with a forgotten wallet - awesome! The live chat proved to be a friend in need, on point as ever. A piece of advice for my American compatriots, sit this one out cuz it’s a no-entry zone for you.
2023-12-01 15:48
Reply
0
0
faier
6-12months
Personally, it's true that simplefx can be traded in cryptocurrency without certain regulations and kyc. But this is the same system as other trusted bingx cryptocurrency exchanges. I haven't had any errors or withdrawal errors so far using simplefx, and I've been doing very normal trading activities. I am a broker who is willing to continue trading.
2023-07-23 23:08
1
0
1
A42620
more than one year
SimpleFX disappointed me a lot due to its slow withdrawal process! I had it enough! They always told me to wait and wait… I won’t trade with this broker again.
2023-02-23 09:16
Reply
0
0
FX1226459765
more than one year
They are either amateurs or frauds. In any case, I want out. I'm glad I deposited a small amount to test things out. I just hope I will be able to get my money and get out of there as soon as possible.
2023-02-15 13:49
Reply
0
0
阿铛
more than one year
Don’t believe what this broker say!$2500 deposit bonus, $100 per month, $0 for withdrawals, all for promotion purpose! Having been trading with this broker for two weeks, they still haven’ t given me that bonus!
2022-12-16 11:08
Reply
0
0
东伟呀!
more than one year
Don't trust online positive reviews! SimpleFX makes money by deducting the profits of the traders. The traders can’t gain any profits on their platform, they deduct all the profits, and the traders just keep losing money!
2022-12-06 10:40
Reply
0
0
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