SimpleFX Logo

ICF coverage:



Mobile app:



Account types:


Live and Demo




Editorial Rating

SimpleFX Logo

Editorial Rating

SimpleFX Review

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ICF coverage:



Mobile app:



Account types:


Live and Demo




FSCS insured:



Account minimum:



Trading fees:


$0 for cryptocurrency trading

Regulated by:



SimpleFX Logo

Editorial Rating

Believe it or not, the very first stock exchange occurred as early as the 17th century. Ever since, the total stock market value has reached a whopping $95 trillion.

Quite astonishing, isn’t it? Well, it’s no wonder why traders and investors are constantly searching for brokerages that won’t only make their life easier but will spare them from wasting their precious money on exorbitant fees. Is the SimpleFX trading platform one of them?

We’ve compiled this comprehensive SimpleFX review for you to find out.

Risk warning: Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances.

What Is SimpleFX?

Founded on October 8, 2014, in St. Vincent and the Grenadines, SimpleFX is a CFD broker that allows you to trade crypto, forex, stocks, and indices 24/7 at low to non-existing trading fees. SimpleFX supports over 60 currency pairs, a range of indices and commodities, Bitcoin, and other altcoins such as Ethereum, Litecoin, Monero, Dai, etc.

However, it’s vital to know that SimpleFX is not regulated by any financial body. Some of the reasons behind this stem from the fact that the broker wants to operate on less conventional exchanges and marketplaces and decentralized trading systems.

Yet, this by no means implies that SimpleFX is a scam. So far, there have been no negative actions taken against the brokerage. It does have its terms and conditions users must comply with in order to trade and invest. After all, ever since 2014, the company has managed to preserve a trust-inspiring and intuitive trading system with astonishingly low fees.

The platform is available to users in 190 countries all over the world. However, clients from the US, Belgium, Monaco, and a list of Asian and African countries can’t open an account.

Who is SimpleFX best for?

Are you a trading rookie on a hunt for a brokerage that won’t intimidate you? Or are you a seasoned investor searching for an intuitive platform that allows you to trade forex, crypto, stock, and indices?

SimpleFx is a great choice for both those who are embarking on the journey of trading and investing and experienced traders who prefer using simple platforms such as MetaTrader 4. It’s also excellent for those who want to invest with leverage, given the fact that SimpleFX leverage is 1:500. In other words, for every $1 of their capital, traders will get $500 to use for trading.

Additionally, SimpleFX is an excellent fit for multicurrency traders, as well as crypto owners who prefer to invest with them. Lastly, SimpleFX is perfect for traders and investors who want to bypass the KYC and use only their email to sign up.

It can’t be stressed enough that investing is extremely risky. Due to the possibility of losing all their funds, inexperienced trades should stay away from it.

How to Use SimpleFX

To start using SimpleFX, you need to make an account first. This step is quite easy to accomplish. You need to provide your email and verify it. Alternatively, you can use your Facebook, Telegram, Google, or Twitter account to sign up. Bitcoin accounts don’t require any other verification. However, to open a hard currency account, you’ll need to provide proof of identity and address.

What are the account types?

Regarding SimpleFX account types, unlike with other brokerages, this one offers a single CDF account. With it, you’re given access to all tradable assets on the platform. No minimum deposit is required to create an account. Plus, a user can open in a range of currencies convenient to them.

Although there’s no minimum deposit required to trade or invest with forex, commodities, and cryptocurrencies, a minimum contract size of 0.01 lots is needed. Regarding the margin call and the stop-out level, the minimum requirements are 50% and 30%, respectively.

The brokerage has also created a SimpleFX demo account for users who are completely new to trading. They have $4,000 in virtual funds at their disposal to learn the basics of investing. With such an amount, rookies have an opportunity to learn and figure out how trading actually works. Even if they make some terrible mistakes (which is inevitable), no real damage will be done to their funds.

It goes without saying that the demo account lets users do everything as if with their genuine trading account — buy and sell crypto, trade pairs or commodities, swap information, etc. Quotes are also identical to the ones on the SimpleFX live account, as well as the fees and commissions.

Speaking of the number of accounts, you can have up to three per available currency.

What are the account requirements?

We have already mentioned that, as opposed to other brokerages, the required personal data and documents are minimal. To open a Bitcoin account, SimpleFX only requires your email, which you need to verify during the process of registration.

In addition to the email verification, when opening a hard currency account, you’ll need to verify your identity and address as well. To do so, you should provide a photo of your ID, passport, or driver’s license, while a utility bill or a bank statement will help you verify your address.

Both opening and verifying of the account are fairly straightforward, which is praised in numerous SimpleFX reviews. As a reminder, no minimum deposit is necessary either. Note, though, that the brokerage may charge withdrawal and inactivity fees.

How to start trading

Once you verify your account and provide all the necessary documents, you’re all set to start trading. SimpleFX offers more than 60 currency pairs to swap, which are located on the left-hand side of your screen. Alternatively, you can use the search bar at the top.

In either case, when you click on your pair, you’ll be able to choose from opening the chart, beginning a new order, or just glancing at more info about the symbol. The available data include contract size, effective leverage, swap information, required margin, etc.

If crypto is your thing, you can find your preferred currency at the bottom of the screen, along with some basic information. This is a good opportunity for beginners to learn about an asset before they start trading.

SimpleFX WebTrader is at your disposal 24/7. However, whether or not you’ll be able to commit a trade depends on the opening and closing time of individual markets, as well as the time zone.

Another great option available to users, not necessarily related to trading, is SimpleFX’s affiliate program. Namely, existing traders can invite their friends to join the platform and get up to 50% of their revenue share. How much they will earn depends on the profit the friends make.

What can you trade?

As already stated in our SimpleFX review, the brokerage focuses mainly on forex and crypto trading. Yet, investors also have stocks, commodities, and indices to invest with.

The trading platform offers more than 170 instruments within several markets. At the moment, you can choose from more than 60 forex pairs, a number of major indices and commodities such as oil, gold, and other precious metals, as well as BTC and other popular crypto coins.

A significant feature that helps SimpleFX stand out from its competition is ETH2 staking. This service enables you to stake as much ETH as you want or have at the moment. No fees will be charged, nor is there a minimum deposit. Plus, you have an opportunity to earn an APR rate going up to 8.55%, which is funded to your account on a daily basis. Besides, you can implement your staked funds for further trading.

What tools are available?

In addition to allowing users to customize its interface, SimpleFX MetaTrader 4, the platform that the brokerage features, lets expert traders program indicators and advisors. The MT4 platform is based on the MQL program language and, as such, brings in the versatility the language offers.

What traders can also find quite useful is the SimpleFX Trade Calculator located on the left-hand side of the screen. The small calculator icon is easily recognizable.

This handy tool enables you to select your account currency, trading pair, and the leverage you seek to calculate, then set the remaining parameters for opening the first trade. This way, you have a chance to glance at your potential profit or loss without actually investing your funds. This is quite beneficial in case you want to trade with assets you’re not familiar with.

SFX Webtrader

How does the platform work?

SimpleFX MT4 is highly user-friendly and intuitive. This makes the brokerage perfect for inexperienced traders. Its interface is extremely responsive and offers an enjoyable user experience on every session.

SimpleFX features a range of investment options, as well as automated services. Sadly, there are no third-party plugins that would allow it to reach its full potential. Thus, SimpleFX WebTrader might be a better option for those who prefer manual trading.

In addition to allowing users to customize it according to their preferences, the platform has a range of customizable widgets which can be embedded in websites.

Unfortunately, there isn’t such a thing as SimpleFX MT5, nor does the broker consider introducing it in the future.


SimpleFX seems to be quite dedicated to novice traders, which is a huge plus. In addition to an extensive FAQ section where users can find answers to any questions, the broker provides video and blog tutorials, along with live support and step-by-step guides.

Furthermore, clients can enroll in SimpleFX Academy starting at $499. There are three course options. Each of them grants lifetime access to Telegram and Facebook groups, training videos, and webinars. Also, group and individual training are available.

SimpleFX Trading Fees

The brokerage boasts its no-commission trading. However, you should be very careful here, as some transactions involve fees which are somewhat higher compared to its competitors. To illustrate, EUR/USD spread amounts to 0.9, while other brokerages list lower commissions.

Additionally, many users mentioned high swap rates in their SimpleFX reviews that can be incurred on overnight leveraged positions. For instance, the USDC/NH pair has a swap rate of -116.35, whereas the rate for EUR/USD amounts to -5.88. With another forex brokerage, the swap rate for that pair would be around 5. Regarding indices, the fees are listed at about 1.3 pips, while precious metals (gold, in particular) fees amount to 0.17 pips.

Beware of the non-trading fees, though. There are no deposit fees. However, SimpleFX charges withdrawal fees of $0.5. Furthermore, there is an inactivity fee of 3% or a minimum of $25.

Deposits & withdrawals

There is no SimpleFX minimum deposit required. You can deposit as little or as much as you wish, and your funds will be available for use in up to one hour, depending on the deposit type. BTC is instantly available, for example. Likewise, there are no deposit fees charged.

SimpleFX withdrawal is processed in 24 hours, provided that you use an electronic payment system, crypto, or credit card. Wire transfers take a bit longer, between three and five business days. Keep in mind that with SimpleFX, the withdrawal and deposit methods must be the same. Speaking of which, you can use wire transfers, credit cards, or electronic payment systems to fund or withdraw money from your account.

SimpleFX Mobile App

Clients who prefer using smartphones to computers can install an excellent trading app on their smart devices. The brokerage is available for both Android and iOS devices.

The Android app will work smoothly and won’t require any additional settings. However, clients who want to use their SimpleFX iOS app must “trust” the app after they download it. This option can be found in Settings, more specifically under Device Management.

SimpleFX Customer Service

If you need support with your trading or stumble upon any issue, feel free to contact SimpleFX customer support. It’s available 24/7, and you can reach it via email, live chat, and social networks.

The agents are extremely polite, helpful, and knowledgeable, so it’s no wonder why they are praised in every single user SimpleFX review.

SimpleFX Alternatives

In this section, we’ll compare SimpleFX to some of its competitors available in the US.

SimpleFX vs Robinhood

Robinhood welcomes traders from almost all over the world. Just like its competitor SimpleFX, it requires no minimum deposit, but it also charges no fees whatsoever.

However, since it focuses on automatic trading and investing, it might not be quite a good choice for experienced users. Newbies, on the other hand, might find it quite useful.

If the lack of SimpleFX regulation poses a huge issue to you, Robinhood could be a good choice. The broker is regulated by SEC and FINRA, and your funds are FDIC insured.

SimpleFX vs TD Ameritrade

Both brokerages require a $0 deposit minimum to open an account and begin trading. Though TD Ameritrade boasts of charging no fees for stock trading, it does charge $0.65 per option contract.

Unlike SimpleFX, which focuses mainly on crypto and forex, TD Ameritrade clients can trade with a number of other equities such as options, ETF, futures, mutual funds, and bonds.

SimpleFX vs Fidelity

Founded way back in 1946, Fidelity is a well-known US brokerage that focuses not only on trading and investing but also on a range of financial services. In addition to providing mutual funds, ETF, options, and other equities, Fidelity also offers retirement services and professional investment advice.

Unlike SimpleFX focusing on crypto and forex trading, Fidelity doesn’t include those assets in its offer. Instead, it’s geared toward stock, ETF, bonds, mutual funds, and precious metals.

Wrap Up

The time has come to finalize our SimpleFX review and restate what we liked and didn’t like about this brokerage.

SimpleFX is excellent for both experienced and novice traders. Its MT4 platform is user-friendly and intuitive, so newbies won’t be intimidated by it. Likewise, veteran investors can customize it to suit their needs. Yet, they might be disappointed in the lack of an MT5 platform.

Next, SimpleFX registration takes just a few steps. Users can even bypass the KYC protocol and provide email only.

As nothing is perfect, so is the case with SimpleFX. The major drawbacks are the absence of regulation — after all, clients are more secure when they know that the broker they’re using is regulated. Another downside is SimpleFX fees and rates, as they tend to be higher compared to other brokers. Lastly, it isn’t available in the US, so American traders must look elsewhere.


  • User-friendly platform
  • Excellent customer support
  • Spreads starting at 0.1
  • No minimum deposit required
  • Affiliate bonus program


  • Not available in the US
  • Not regulated by any regulatory body
  • No MT5 platform
  • High swap rates
SimpleFX Logo

Editorial Rating


Does SimpleFX accept US clients?

No, SimpleFX is not allowed in the USA. Therefore, American traders will have to look for other brokers.

Is SimpleFX legit?

Yes, it is. Although unregulated, SimpleFX is a legitimate trading platform. As mentioned in our SimpleFX review, the broker has its own rules traders and investors should comply with.