Today we take a look at SimpleFX for you. What is SimpleFX? A scam or a legit platform for you? Are there better alternatives out there for you? How to get a bonus to use on SimpleFX? These are some of the main questions this short review will focus on!
Owner: SimpleFX Ltd
Price: FREE membership + provide you with 3 FREE demo accounts and FREE step-by-step training on everything you need to understand to trading success.
Who is it for: Cryptocurrency traders in general
Overall rating: (4.9 / 5) (as a Cryptocurrency Trading Platform)
If you sign up for your FREE account through the link at the end of this review you are eligible for a 2% cashback on the spread value on your first trade with real money (no matter the size of your trade). See more details at the bottom of the review.
What is SimpleFX about?
SimpleFX is an online trading platform where you can trade with Forex CFDs on Bitcoins, Litecoins, indices, precious metals and energy. The platform has been in business since 2014. It got around 100,000 registered users in more than 140 countries around the world. As a trader on SimpleFX you can be assured of the best pricing and execution services the broker has to offer you.
Even if there are a variety of instruments the traders of SimpleFX can trade in, the absolute main strength is its cryptocurrency trading benefits.
In fact, it is the preferred choice of trading platform for many Crypto trading pros and it was also awarded the best cryptocurrency trading platform of 2017 on the Cryptocurrency World Expo.
How does it work?
The slogan of the company is “Keep it simple” and that goes very well with how things work on their website also, you can watch a 1-2 minute long tutorial before you start where everything is explained simple and easy to understand.
- To start you simply sign up for a free account.
- Then you can start the tutorial (that takes around 1 minute), it will guide you on how to use the trading platform.
- You can start out by practising with a demo account with $100,000 in your account
- Whenever you are ready you can trade with real money
The products and services
- Buying and selling goods and services
- International trading and investment activities
- To hold bank accounts and operate business
SimpleFX is a trading platform where you can trade with a lot of different Cryptocurrencies (below are just a few of them) and you can also trade with a broad selection of other Commodities:
- Precious metals
Below is a screenshot from inside the member’s area where you have live charts and also a live chat where you can speak live with other members and/or traders. A very nice function to have, especially if you are a newbie that might be a bit “unsure” of how things work.
Worth to mention here: As you can see to the right (in the screenshot above) the traders/users are able to live chat with each other in real time on the platform.
Other features offered
- The best pricing, execution and liquidity
- Innovative trading technology
- A variety of trading instruments
- All-year-round trading 24/7/365
- Guaranteed Deposit Protection Funds
The platform can be used in many different languages
One feature that I am sure many will like a lot is the fact that you can change the language on the website to your preferred one. Well, at least if any (of the ones you can see) in the screenshot to the right are your preferred language to read:
What about the fees?
For making a deposit there are no fees at all.
For making a withdrawal it depends on what currency you are withdrawing.
It is 0.002 for Bitcoin and Ethereum and 0.001 for Litecoin and Dash, For Bitcoin Cash, it is 0,0005 and for direct money deposits like Creditcard, Neteller, Skrill etc it varies. That puts them among the top of lowest fees in the industry.
You can see their whole fee structure on their website simply by visiting the deposit section where it is all displayed for you to see.
How is the support?
One thing I always put a lot of weight on when it comes to the quality of a company’s support system is if they have a live chat function or not. That is a big thumbs up! (at least in my book).
SimpleFX got this, they also got a live chat function between its members so you can communicate with other traders in real time, getting tips and help from other traders.
Other than that they also got an e-mail address and a phone number for you to contact them.
Is SimpleFX a scam?
So, is SimpleFX a scam? No, of course not, it is not a scam. It is a legit trading platform that has been around since 2014, it would never have survived that long if it wasn´t, right?
It is not only legit but also one of the best (if not the best) cryptocurrency trading platform out there.
One thing that backs up this is the fact that they were awarded the “Best cryptocurrency trading platform of the year” at the World Cryptocurrency Expo:
(Screenshot from SimpleFXs Twitter account)
Is it for you?
In short, I would say that if you are going to use SimpleFX to trade with Bitcoins and other cryptocurrencies, then this is definitely for you.However, if you are into Forex, Precious Metals or Energy trading, etc, then you might want to check on other alternatives.
Something that is always wise to do, to get a better overall picture of a company, is to compare its positives against its negatives. Below I have highlighted some obvious pros and cons to make this job easier for you:
- Awarded the best Cryptocurrency trading platform in 2017
- Easy to use
- Low fees (and transparency)
- Great support (English, Japanese, Polish, Portuguese, Spanish)
- Live chat functions both to get help from the support staff but also between members, you can chat 24/7 with other bitcoin enthusiasts 😉
- Offer you to “train” with 3 demo accounts before using real money (huge benefit and a big +)
- Average performer when it comes to trading with Forex (who cares, right? we are in it for the cryptos.)
Final words and verdict
Overall rating: (4.9 / 5) (as a Bitcoin trading platform)
Ok, I think that sums up the overall picture of SimpleFX pretty good. This is without a doubt a legit platform for you to use and not only that, it is one of the best (if not the best) when it comes to trading with Bitcoins. If you are a complete beginner in the subject of trading then this might be your absolute best place to start as you got the step-by-step easy to understand training instructions + your 3 demo accounts filled with cash.
Ironically it is a pretty average performer when it comes to trading with Forex, so only use it for Bitcoin trading as that is where it best comes to its full potential use.
The rating 4.8 out of 5 stars are based on its Bitcoin trading abilities, if I would rate it as an “overall trading” platform the rating would have been a bit lower.
You can feel safe to put your trust in the services of SimpleFX and if you are (or plan to be) a Bitcoin trader I would highly recommend SimpleFX for you. As always the choice is up to you.
Just keep in mind: Please do NOT invest more money than you can afford to lose into cryptocurrency or ANY other investment and you will be just fine.
(Read details of bonus at the bottom of this review)
I hope you found this short review on SimpleFX to be helpful and now you should have a better understanding of what it is and if it is something for you or not. If you have used any of its services please share your experience with us below in the comment section as it can help others. Also, if you got any other questions about this review I will be more than happy to answer them below.
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I wish you success!
Founder of: $tart Make $top Waste
**To get your 2% cashback bonus simply send an e-mail to firstname.lastname@example.org after you have made your first trade and you will get your money sent to you via PayPal.