SimpleFx is a broker, trading platform that emphasizes on the simplicity and speed of trades along with all of the other activities that happen on the SimpleFx web trader platform. Traders can make trades in a variety of markets like energy commodities, precious metals, forex and cryptocurrencies.
SimpleFx boasts of keeping their trades simple, fast and very transparent. Any newbie can easily blend in and start using the platform without going through endless lectures. Actually, the platform includes a demo mode where users don't need to sign up, this mode allows newbies to get used to the platform.
SimpleFx's headquarters are in St Vincent and the Grenadines, They are currently accessible in over 160 countries. Security of the traders' assets is guaranteed through 2FA protection and some other solid security policies which are accompanied by the AML (Anti-Money Laundering) and GDPR (General Data Protection Regulation) general authority policies that SimpleFx abides by. They are already registered as an International Business Company (IBC) though they are not regulated.
Trading on SimpleFx
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Most people are afraid of trading in forex and cryptocurrencies because they think they are so complex, some of the things are not so easy to wrap your mind about, some platforms are not easy to figure out and that's exactly what SimpleFx is attempting to solve. With the emphasis put on simplicity and precision, SimpleFx has been able to make a name for itself and it's about 4 years old now.
SimpleFX provides traders with a wide selection of tradable assets across the global financial markets. There are more than 55 forex currency pairs, 13 cryptocurrency pairs, 12 market indices, over 7 precious metals, 90 global equities and 3 commodities. SimpleFx included Cryptocurrencies like BTC, ETC, LTC, BCH and ETH, Currencies like Euro, British Pound, Canadian, US and Australian dollar, commodities like Natural gas, UK oil and US oil. The platform has a wide range of assets.
It's easy to make deposits on SimpleFx, There are no charges on deposits and traders can deposit any initial amount on the platform. The platform does not have a minimum initial deposit(though in some cases it's indicated as $1).
Traders can make trades on the leverage of a maximum of 1:500 with limitations on some assets like Cryptocurrencies with a maximum leverage of 1:5 while FX – Major pairs have a maxed out leverage of 1:500.
The platform even has a feature called negative balance protection and basically, this feature closes transactions when they turn into negative balances.
SimpleFx is open for trades 24 hours a day and 7 days a week.
With their mobile apps(Android app & iOS app) traders can keep track of their trades anywhere. MetaTrader 4 mobile trading apps can keep you on the go.
Deposits and Withdrawals
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Traders can deposit and withdraw their assets in many ways and all of the available methods are simple and convenient for all the traders.
First, all deposits made on SimpleFx are free of charge with a provision of getting 20% cash back. Deposits are concluded in about an hour and after that, you will see your deposited assets shown on the platform.
Withdrawals don't take long either especially when compared to other broker platforms, within a day to 3 days depending on the method of withdrawing the trader chooses. All withdrawals must be made via the same method used to deposit funds. Cryptocurrency transactions are free of charge but obviously with a transaction fee of for example 0.001BTC on a BTC transaction. Fiat withdrawals are charged at 1% to 3% depending.
Traders can withdraw through Fasapay, WebMoney, Neteller, Skrill, and all other present Cryptocurrencies on the platform except Ethereum classic.
Verdict
I love SimpleFx, Simply for its Simplicity, Accepting Cryptocurrencies and other multiple ways of depositing and withdrawing money which has added to its versatility, high leverage, a demo account for newbies, low deposit and withdraw fees, anonymous trading. All these make SimpleFx an ideal platform for any trader. Other than concerns from some traders because SimpleFx is unregulated, CFD cannot get any simpler.
DISCLAIMER
This is not financial advice, nor a guarantee or promise in regards to any result that may be obtained from using the above content. The information provided here is for informational and entertainment purposes only. It should not be considered as financial and/or investment advice. No person should make any kind of financial decision without first consulting their own financial adviser and/or conducting their own research and due diligence.
Originally appeared on my steemit blog
