Is SimpleFX Scam or Legit Broker?

SimpleFX is a 100% fraud company. The broker is registered offshore and does not hold any proper license from a well-known reliable financial regulator. It is NOT SAFE to trade SimpleFX. We never advise trading with an offshore broker, since the financial investment service they deliver is not trustable.

About SimpleFX
🗺️ Registered inSt. Vincent and the Grenadines
🗺️ Type of LicenseOffshore License
🛡️ Is SimpleFX safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is SimpleFX?

SimpleFX is an offshore broker offering Forex and CFD trading. The company is owned and operated by SimpleFX Ltd., based and registered in St. Vincent and the Grenadines. It is a popular destination for forex brokers because the registration procedure is simple and low-cost and they face limited regulatory supervision if any.

  • The contact phone numbers of Customer Support and Partnership department are British, although the firm is not authorized in the UK by FCA (Financial Conduct Authority). For obtaining an STP FCA license, the required capital for the broker to have is EUR 125,000. Also in order to get this type of license, the broker needs to have a physical office in the UK. All clients of the FCA-regulated brokers are protected by the Financial Services Compensation Scheme.

Overall SimpleFX Ranking 

Based on our revelations about the safety and regulations issues of SimpleFX, we do not rank positively SimpleFX, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • SimpleFX Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.
RankingSimpleFXXMBlackBull Markets
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneEducationTrading Environment

SimpleFX Alternative Brokers

Due to our finds and issues with the safety of SimpleFX, here are much better Alternatives to SimpleFX with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

  • eToro – Good for CopyTrading and Cryptocurrency Trading
  • Dukascopy – Excellent for Shares, Futures Trading
  • BlackBull Markets – Good for High Leverage Trading

SimpleFX Deposits and Withdrawals

SimpleFX offers various deposit and withdrawal options – Bank Transfer, Credit/Debit Card, and e-wallets such as Skrill, Neteller, Webmoney. However, due to its unregulated nature, there is no strict guarantees on payment procedures. 

  • SimpleFX offers multiple bonuses for deposits. Traders can use the fastest and most economic payment methods for fiat and crypto and get a $2500 Bonus for the first Deposit.

SimpleFX Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations.

As SimpleFX is not regulated by top-tier authorities, trading with it might put your investments at risk. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Pepperstone and TMGM.

  • Overall ranking and experience for SimpleFX is Negative

No news available.

10 responses to “SimpleFX”

  1. Is this the company that trades in the west midlands area of the uk?

    Managing director is Richard Williams?

  2. Hard to find good platform – for me most important is: Competitve offer. Multilingual support. I choose Simple FX. I needed to learn strategy cause 74.39% of CFD accounts lose money. 

  3. I think SimpleFX is definitely no.1 lowest spreads that are consistent, super fast withdrawals, platform always 100% up with no delays, best execution I have seen. They are just super reliable consistent and the cost is the lowest. 

  4. Great and simple to understand app. I’ll never think of money the same way! Fantastic way to realize how poorly your understanding of the markets actually is.

  5. Easy to navigate through the app. The easiest way to trade, even for beginner in Forex. Never got any problems.

  6. App is very simple to use. You can invest your cryptocurrencies and multiply money. SimpleFX is independent and not controlled by Wall Street and I like it.

  7. Great app. A standard CFD service (free, but you pay with spread), but they:
    have a great app (mobile and web) which they update every week
    will list anything you ask for, just post your suggestion at
    support Binance Smart Chain, and probably will introduce Lightning Network soon.
    allow you to stake ETH 2.0 and reinvest the frozen funds. I literally shorted crypto this week with my frozen ETH, how awesome is that?
    They’ve been around since 2014, while Binance has just turned 4…

  8. Great trading app with cryptocurrency accounts. I’ve been looking for a reliable app where I can easily move my BTC or ETH when I see a trading opportunity on stocks. SimpleFX is simply great. Love it. Spreads are at times bit high, but this is what you’d expect.

  9. All this comments sounds like someone being paid to say so. Thats to good to be true. No one says not controlled by wallstreet and be happy. Its just the saying of a paid advertiser to justify the beings of the company being a market maker, not and stp broker as they claim.

  10. Even if it is simple fx saying in these comments that they are ‘not controlled by Wall Street’, if that is a good thing and beneficial, and it is factually true, does that not still mean it is a good thing and beneficial. I do not understand the criticism.

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