Simplefx Review for Novice Traders

Simplefx Review for novice traders

simplefx Review – Simplefx is a large CFD FX broker founded in 2014 and based in St Vincent in the Grenadines. Simple fx is an international company that is part of the IBC. CFD brokers offer leveraged trading, this leverage can be up to five hundred to one (500:1). They seem to have their charms too

claim to operate in over 160 countries. However, there are a number of countries. Where they do not accept traders including the likes of the USA, Canada, etc.

Simplefx is not a regulated broker, which is a shame. Because as a trader, of course, you expect your account funds to be protected. And in return Simplefx provides negative balance protection, a feature to protect and close an account before it reaches a negative balance.

Simplefx broker has 2 (two) factor authentication or 2 (two) levels of security. This can be a solution to maintain the security of your account and fund balance. Client funds are secured in segregated accounts at banks and financial companies. In order to ensure security and transact at any time.

Simplefx Review in Fees & Trading Pairs

The website is packed with data, robust buyer support options, ultra-low costs, and strong buying and selling objectives. Similar to many other trading platforms in business, SimpleFX also offers an affiliate program. Through this program, existing dealer customers have the option to ask new people to the platform and earn money from them. Unique people can be requested with an invite link for each account. Trade with 15 cryptocurrencies, along with bitcoin, litecoin, XRP, bitcoin money, ether, and basic Ethereum, all against the dollar. It is very easy to deposit cryptocurrency on the platform, as you simply put the deposit address in your pocket and send funds.

It is possible that you may sustain a partial or complete shortfall of your initial investment. Tutorials and CFD Academy offer additional instructional materials and video clips covering some of the simplest features of the dealer, its platform, and different options. Client funds remain segregated, so if the broker is in financial trouble, they cannot touch client funds.

Copy Trading

They also use copy-paste techniques, which novice buyers can take advantage of to repeat skilled strategies. We recommend that you take some time to study the terms and conditions, as some scammers have a sickening need. You can also use a demo account to try out their platform. However, SimpleFX does not have a demo to familiarize yourself with the trading action. Users should also be aware that, when making a withdrawal, funds may be sent to the payment method that was used for the largest deposit previously made.

While there is no demo account at SimpleFX, the stay model does not have a minimum deposit requirement. That means with a symbolic investment, like a dollar, you’ll have the ability to check the entire service hassle-free. However, it still takes away the opportunity to follow along without losing money and getting used to the platform and website navigation. So while the scenario with a cheap account is better than no demo and an expensive base, it’s far from great.