SimpleFX is an offshore & unlicensed Forex & Crypto broker, that is owned by SimpleFX Ltd.
They are officially located at: Suite 305, Griffith Corporate Centre Beachmont, Kingstown VC0100, St. Vincent and the Grenadines. Contact phone number in the United Kingdom is: +44 1989 500 065. Customer support email address is: [email protected], and Official Website is: SimpleFX.com.
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SimpleFX Broker Reviews
Investors at SimpleFX are given access to a unique web based CFD trading platform. It is important to understand that CFD investing is not the same as outright purchasing an asset. When you buy a Bitcoin CFD, you are speculating on the rise or fall of the underlying asset. CFD trading can be very lucrative, but at the same time, can lead to large losses. In some cases, traders have lost more money than they have in their account.
In addition to the web based trading platform, you can use the standard MT4 trading platform. SimpleFX offers a wide range of underlying assets to trade in all asset classed including; CryptoCurrency, Forex, Commodities, Indices, Precious Metals and Equities.
The brokers website is available in many languages like; Arabic, Spanish, Russian, German, Indonesian, Malay and Portuguese. Minimum deposit to fund your trading account is $10, and many people are funding their accounts with Bitcoin, Litecoin, Dash and Ethereum. They have simplified the signup process for a new account by integrating with Google, Facebook and VK signup.
Is SimpleFX a Regulated Broker?
No, SimpleFX is not a licensed broker! According to the SVG Financial Services Authority; “Forex trading brokerage activities are not licensed in St. Vincent and the Grenadines.” read more.
The way you know whether a broker is legitimate or a scam, is by checking for a valid brokerage firms license. If you can verify that the broker holds a license, from your local financial regulator, only then will you know if the broker is legit. Forex brokers should be licensed in the United Kingdom by the FCA or in Canada by the IIROC.
Choosing a licensed broker is the smart decision to make, because if your broker is FCA licensed, then your funds are kept in segregated accounts. Also you will be protected by the Investors Compensation Fund, See licensed brokers here.
Compare Licensed Brokers
There are hundreds of licensed Forex brokers online to choose from.
ForTrade are the best CFD brokers for new investors just starting out. They are a legitimate broker, which is regulated by the FCA in London, look here.
If you are currently a client of this broker, please share your experience in the comments below.