The web’s most detailed SimpleFX review: SimpleFX trading and investing app is a well-developed mobile application and desktop platform for beginner traders looking to expand their trading into new markets using advanced trading tools. Take advantage of a $2500 welcome bonus on your first deposit and find new trading setups through the trading ideas given by professional technical traders directly through the app. Use the demo account and MetaTrader 4 interface to practice trading in 6 different instruments at lower than market average spreads before you start with a live account. SimpleFX combines fast execution speed, great mobile charting, and a beginner-friendly layout that every new trader will understand. Get the full picture in our review of the platform.
In this section of our SimpleFX review we highlight 6 special features that deserves extra attention.
SimpleFX is a free investing and trading app that offers cryptocurrencies, indices, equities, forex, metals, and commodities through CFDs in a very responsive interface that gives you the latest news stories for all markets and trading ideas based on technical analysis to help you with decision making. The team behind SimpleFX has made it possible to trade numerous instruments from one platform with advanced trading features that are optimized for beginners.
SimpleFX is operated by the company SimpleFX Ltd which has the main office located at Suite 305, Griffith Corporate Centre Beachmont, Kingstown VC0100, St. Vincent and the Grenadines. SimpleFX is a non-regulated platform but it has earned a stellar reputation by delivering great trading and a professional support team that will answer all your questions in a matter of minutes through live chat and emails.
Why use SimpleFX
When conducting the review of SimpleFX I was happily surprised to see how fast the trading app was and how easy it was to locate all the instruments, market news, trading ideas, and account settings. The app is very clean and I would like to highlight that SimpleFX is for both the absolute beginner with no experience at all up to the semi-advanced day trader with several years of experience trading different markets.
The SimpleFX app stands out in many ways compared to other traditional platforms. First, it is fast, you can tell by browsing the trade interface, swapping between markets, opening demo trades, and the Tradingview charts give you a great experience while charting the instruments. The SimpleFX demo account is just like trading on a live account but with paper money and I highly recommend new traders to give it a try to get to know the platform. You are able to use the same features as you would on the live account but without risk.
The SimpleFX platform has incorporated a great ETH staking mechanism that lets you earn guaranteed passive income from locking up your Ethereum coins. With the SimpleFX ETH staking program, you can earn up to 8.55% annually without fees and no minimum deposits.
If you are looking for a trading app with several different products, including cryptocurrencies, that is developed for beginners, with advanced trading tools then you should download the SimpleFX trading app and try it out on a demo account for a couple of days. A welcome bonus of up to $2500 is available for all new traders making a deposit.
Trading on SimpleFX
The first thing that you will find very useful on the SimpleFX app is the stop loss and take profit order selections. When you open your positions you can choose whether to use the stop loss, take profit, or both before you click Buy. These orders are easy to implement and you don’t need to know any other complex orders to add a protective stop when entering the market, this is great, well done SimpleFX! All orders have an edit button where you can change your levels after entering the market.
Second, the charting interface is adapted to mobile users but you can still swap between different charts like Bar charts, Candlestick charts, Line charts, Area charts, and Baseline charts. The time frames are very flexible from 1 minute all the way up to 1 month, this comes in very handy for short-term traders and longer-term swing traders.
SimpleFX offers up to 500 times leverage on their products and this might be a risky adventure for a beginner. High leverage can be very profitable but at the same time, it might hurt you on the downside. Make sure you have sufficient knowledge about the markets and how leverage works before you go big.
The trading ideas that are rolled out on the app are very useful. They indicate support levels, resistance levels, and give you an idea of how the professionals see the current market situation at the moment. Use these trading ideas to find new opportunities in different markets to expand your own trading.
Metatrader 4 is an option when trading on the SimpleFX platform and this is one of the most popular and user-friendly interfaces for mobile traders as well as desktop users. MT4 comes with all the advanced trading tools you might think of and it is developed to help new traders step into the markets with a proper interface.
Payment methods and limits
SimpleFX allows deposits in most major currencies through Neteller, Fasapay, Skrill, and cryptocurrencies. There is no minimum deposit limit, no minimum withdrawal, and no maximum withdrawal limit on cryptocurrencies. When depositing funds with fiat money, SimpleFX will ask you to send in your KYC documents to prove your identity.
Things we don’t like
This broker has a lot to offer and to be honest there is not much I can look down on. The few things I would like to see are government regulation and the option to buy crypto with fiat directly on the platform. Other than that I can’t argue with other traders that this is a very complete trading platform and app and we highly recommend our traders to give it a try!
About the special features on SimpleFX
Some of the most interesting features on the platform are the MetaTrader 4 trading software, $2500 first deposit bonus, ETH 2.0 staking program, Tradingview charting, free withdrawals, direct market news updates in the app, demo account, and the trading ideas you receive on both mobile and the desktop platform. KYC is a must for traders who are depositing fiat currencies but this process is streamlined to not take forever which is a huge plus. One-click trading is available on both desktop and the app which allows scalpers and day traders to execute fast trades. If you are a complete beginner there are plenty of video guides to get you going where the team of SimpleFX describes some of the most common features of the platform.
On the trading interface, there is a trading calculator where you can calculate your potential profit and loss for each of your setups. Market trading hours are also in the description to keep track of when your favorite market is open for trading. SimpleFX has earned the Veteran Trading Platform badge here on Trading Browser as proof of quality for serving traders on the market for more than 5 years. This is a well-earned badge and is only achieved by those who have proved to the community that they are here to deliver quality resources in the long run!
Automated Trading SimpleFX
This is one of the big benefits of trading on the MetaTrader 4 platform that SimpleFX provides for both desktop and smartphone users. You can automate almost any strategy and copy other traders’ strategies through this trading terminal and the more you learn the more likely you will be able to profit from algorithmic trading. Try to automate your own setups through different trading criteria and let your mobile phone trade for you. This is a next-level technology and you should give it a try.
SimpleFX Trading Signals
You can access signals for your trading from the MT4 platform. You can set your own risk level and how you what kind of signals you want to receive as well as copy other traders’ trades and get notified when they enter the market. From here you just need to filter through the signals that come in and choose your positions sizes. For new traders who are just starting to trade, this is an excellent tool to get insight into how other profitable traders enter and exit the market.
Bitcoin Lightning Network Deposits
On SimpleFX you can deposit Bitcoins completely free of charge and without waiting times. Your BTC deposit will land instantly and you can access the market immediately thanks to the bitcoin lightning network. The withdrawals are also free of charge and if you are familiar with blockchain transactions this is a great way to use and invest your saved up bitcoins.
MT4 is a globally recognized powerhouse when it comes to online trading and it is currently being used by millions of traders through several brokerages all over the world. What makes MT4 different from other platform is the number of features they offer. From automated trading, copy trading, signals, great charting, and one-click trading, you can basically do anything with this terminal. Try it on SimpleFX and take advantage of new technology to improve your results.
SimpleFX Welcome Bonus
Now, this is a very generous offer from SimpleFX. When making your first deposit you have the option to choose a welcome bonus package depending on how much you want to start with. The bigger your first deposit is the more you will receive. Here is the full list of rewards when making your first deposit.
- $20 when depositing more than $100
- $50 when depositing more than $250
- $100 when depositing more than $500
- $500 when depositing more than $2000
- $2,500 when depositing more than $10,000
ETH Staking on SimpleFX
Here is a very cool feature that you should check out if you own Ethereum and want to earn a passive income through staking (locking up) your coins for a certain amount of time. After staking your tokens you are free to invest and trading will all the funds you have staked as they are released to the platform. There is no minimum deposit limit, no depositing fees, and an annual return of 8.55% is guaranteed. This is a good deal if you compare it to 0.03% interest rates paid out by regular banks today.
SimpleFX offers leverage of up to 1:500 and this margin is adjustable directly from your trading interface. If you are a seasoned trader you are free to use as much leverage as you want as it can boost your profits but if you are new to this style of trading and have less experience I would recommend that you start with a lower level as high leverage trading can be very risky.
The demo account on SimpleFX acts exactly like a live account with the only difference being that you will be using fake money. Part of the journey to becoming a profitable trader is through paper trading and I would definitely recommend that any trader starting out, to begin with, the demo account to learn the ins and outs’ of the platform.
Is SimpleFX a regulated platform?
No, SimpleFX is not regulated by any government.
Can I trust SimpleFX?
We consider it to be a trustworthy platform and judging by the reputation of the company it is safe to say that you will not be disappointed by using the service.
Frequently asked questions
Read the most frequently asked questions about SimpleFX. Find answers without searching the web.
SimpleFX offers for the moment 4 different payment options, Neteller, Skrill, Fasapay, and cryptocurrencies.
Yes, SimpleFX offers leverage up to 1:500.
SimpleFX is a CFD broker that is operating from Saint Vincent and the Grenadines since late 2014. The platform offers trading in several different instruments and is suited for beginners as well as seasoned day traders. New traders benefit from a welcome bonus up to $2500.
Yes, by the time this review was written SimpleFX had a first deposit bonus for all of their new customers. If you deposit $100 or more you get $20 extra, and the bonus increases more depending on how much you deposit.
No, unfortunately, customers from the United States are now allowed to use the SimpleFX platform.
Yes, the SimpleFX trading app is available for both IOS and Android.
Yes, in order to add funds with fiat currencies you are obliged to send in KYC documents to prove your identity. The KYC process is very streamlined and should not take very long.
The fees are different for all instruments. Some instruments are traded OTC (over-the-counter) and some are traded directly from the SimpleFX order book. Find the full list of fees at the top of this review.
To make a withdrawal simply click located the Deposit & Withdrawal button in the main menu. From here, select the Withdrawal tab and then choose the currency you want to withdraw.
The operating company is SimpleFX Ltd.
There is no minimum limit for deposits. You are free to deposit as little as $1.