SimpleFX.com Review

2.177 • 30 REVIEWS
Updated: Oct 25, 2022
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SimpleFX is a forex broker. Simple FX offers the MetaTrader 4 and Mobile forex online trading top platforms. SimpleFX.com offers over 55 forex pairs, cfds, cryptocurrencies, indices, commodities and precious metals for your personal investment and trading options.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $1
Established: 2014
Address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, VC, 1510, Saint Vincent And Grenadines
Contact: support@simplefx.com
Regional offices:
Regulators:
Prohibited countries:
Trading platforms: MT4, WebTrader
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (10+) Bitcoin, Litecoin, Ethereum
CFD: (5+) Gold, Silver, Other Precious Metals, Other Commodities

Trading Conditions

EAs/Robots: ❌ No
News Trading: ❌ No
Scalping: ❌ No

Managed Accounts & Social Trading

PAMM: ✅ Yes
Deposit Methods: Bitcoin, Bitcoin Cash, BuyCrypto, Dash, Ether/Ethereum, FasaPay, Litecoin, Monero, Neteller, Skrill
Withdrawal Methods: Bitcoin, Bitcoin Cash, Dash, Ether/Ethereum, FasaPay, Litecoin, Monero, Neteller, Skrill
2.177 • 30 REVIEWS

Traders Reviews

K
Buenos Aires, Argentina,
Oct 27, 2021,
Registered user

Service use: Live Length of use: over 1 Year
I have deposited small amounts in BTC and traded with them EURUSD for some months. I didn't have any problems with the deposit and the withdrawal which was processed in a couple of hours (to my BTC wallet).

While they are the typical Saint Vincent unregulated broker I would say that the service is acceptable and they are trustworthy at least for small amounts.
J
Zürich, Switzerland,
Mar 29, 2021,
Registered user

SimpleFX

Service use: Live Length of use: 0-3 Months
I used the app and website about a month ago a couple of times and can't say anything bad about this company. I managed to earn something there and I will probably come back to them.
M
Boston, USA (Really the offices of SimpleFX in Poland),
Mar 2, 2021,
Registered user

good trading platform (I forgot to say I work for SimpleFX)

Service use: Live Length of use: 0-3 Months
I trade stocks on that platform and not only that. No minimum deposit and simple using is making it more attractive, I really like it, especially because it's beginner-oriented and has demo version where I could practise and see how it works.
Forex Peace Army
Review moderation team note
5 Star rating removed.

This review came from the same location in Poland used by SimpleFx's representatives. Per FPA policy, the rating on this review has been set to Zero stars.
I
South Bohemia, Czech Republic,
Feb 2, 2021,
Registered user

Service use: Live Length of use: over 1 Year
I had been trading with them for over 2 years and I have only good words about them. They have fair prices and the withdrawals were the quickest I have ever seen, I often received a crypto payment after a few minutes since submitting.
I
Reply by SimpleFX.com Representative submitted Mar 11, 2021:
Thanks, Iridius, we are doing our best to make SimpleFX better every day and such feedback gives us the energy to go on! Check out our new Binance Smart Chain (BEP-20) payments, they are much faster and cost way less than Ethereum.
B
hong kong, Hong Kong,
Dec 22, 2020,
Registered user

US 10,000 is scam by Simplefx

Service use: Live Length of use: over 1 Year
Simplefx suddenly send below message to me to close my account, delete all my profit USD 10,000. A scam company !


Termination of customer relationship

Hello chungmarykok,

Based on information that has come to the attention of the SimpleFX Compliance Department, your account has been opened despite the previous termination of SimpleFX's customer relationship with you.

As a result of such a flagrant breach of our rules, we are forced to cancel your transactions and terminate your account permanently. Please submit a withdrawal request of all your remaining assets until 12:00 UTC on December 24th, 2020. After that period or after making a withdrawal request your profile will be closed and you will not be able to access them again.

Any attempt of opening a new account will be detected and the account will be immediately deleted.

If you have any further questions, do not hesitate to contact us.

Best regards,
SimpleFX Customer Service
1 trader has found this review helpful
B
Reply by SimpleFX.com Representative submitted Mar 11, 2021:
Hi Benjaminngsiu1234, due to the breach of our trading T&C we had decided to end customer relations with you. Since you are banned from our platform, we are terminating any new account you open.


J
Manchester, United Kingdom (Really the offices of SimpleFX in Poland),
Jul 24, 2020,
Registered user

I like it (Because they pay my salary)

Service use: Live Length of use: 3-6 Months
Very convenient app, with good UX. Im interested in investing about 2 years and started with SimpleFX half a year ago. Mostly I like regular promos, new symbols and good cashbacks. i started with forex and then went into oil, metals and crypto.
Forex Peace Army
Review moderation team note
5 Star rating removed.

This review came from the same location in Poland used by SimpleFx's representatives.  Per FPA policy, the rating on this review has been set to Zero stars.
F
Athens, Greece,
Apr 14, 2020,
Registered user

A really bad experience

Service use: Live Length of use: 0-3 Months
I had believed that the reviews describing simplefx as terrible broker might be false or something, like their social manager claimed, so I decided to trade with them.

Oh god, these reviews were absolutely true, I am coming to add one more 1star review for this company.
1)First of all they are not regulated, not even depositing by skrill is possible.I had to use only crypto for depositing.
2)Their timings about closing , opening for each instrument are completely fake.
They open and close each instrument the time they decide every day, this is a broker for laugh!
I had a position of UKbrent oil that should be very profitable after the market opening and in my simplefx account the instrument wasn't opening for more than 1 hour (!) AFTER the time that it is supposed to open, "waiting" for the market to reduce the profitable pips ! At the same time, every other broker and Google index was quoting normally from the VERY first minute after the Brent futures opening!
I have even screenshots from their chat answering that they had a problem with that they are checking and this is why they don't have quotes (magically just for the instrument that I should have profit with). lol

3) after a couple of profitable trades they terminated my account without any real reason , just because they don't wish to pay anything in the future.

A very bad experience.
3 traders have found this review helpful
F
Reply by SimpleFX.com Representative submitted Jun 9, 2020:
Hi, thank you for your comment.

1) we offer various payment channels, including Neteller, Skrill, credit card and bank wire. We are constantly expanding our offer to satisfy our customers' needs even more.
In case of any questions, feel free to contact the SimpleFX Support Team: support@simplefx.com, they are ready to assist you.

2) Trading hours are provided by our liquidity providers, feel free to file an official complaint to support@simplefx.com if any delay in market opening happened.

3) Please contact the SimpleFX Support Team: support@simplefx.com, to sort out the issue with your account. SimpleFX is not terminating accounts without any reason, we are sure you are mistaken here or your account was closed due to violation of SimpleFX's T&C.

Best,
SimpleFX Team
O
Portsudan, Sudan,
Mar 17, 2020,
Registered user

They pay .

Service use: Live Length of use: over 1 Year
Thier price feeding and spread are little different from other brokers but they pay with little fee.until now smal account .
1 trader has found this review helpful
O
Reply by SimpleFX.com Representative submitted Jun 9, 2020:
Hi, thank you for your comment.

We have been delivering an outstanding product for five years now, and praise to have 200,000 active users worldwide. As any broker, from time to time we have to deal with anonymous negative reviews that usually come from unethical competitors and fraudsters who had their accounts closed due to the violation of our T&C.

In case of any questions, feel free to contact the SimpleFX Support Team support@simplefx.com, they are ready to assist you.

Best,
SimpleFX Team
N
Moscow, Russian Federation,
Aug 9, 2019,
Registered user

Fraudulent Broker for sure

Service use: Live Length of use: 0-3 Months
Unfortunately all the one star reviews are describing the truth about this broker.

Both my boyfriend and my best friend have lost money by them.
They delete trades for ridiculous reasons.

They have established a system of promo which is based on totally fake clients/bots.

Their social media image is fake as well, they try to hide this reality with ridiculous excuses as you can see in their answers to their clients, like that in fb their fake thousands of followers simply don't react and that they are facing a series of fake reviews (but guess : only those reviews are coming from their few real clients !!!)

Avoid Simpefx.
They are unregulated, they don't give the stolen money back because they are not controlled by regulators.
1 trader has found this review helpful
N
Reply by SimpleFX.com Representative submitted Sep 24, 2019:
Hi, thanks for your comment.

We have been delivering an outstanding product for five years now, and praise to have 200,000 active users worldwide. As any broker, from time to time we have to deal with anonymous negative reviews that usually come from unethical competitors and fraudsters who had their accounts closed due to the violation of our T&C.

We are doing our best to give you the best customer service, and leave no client unsatisfied.

1) if you or your friends had any issues with our platform, please contact the SimpleFX Support Team giving the account name at support@simplefx.com.

2) We use Facebook for display advertising, not direct communication. This is why we don't have many interactions there. If you want to talk with traders using our services login to a DEMO account and chat with them here: app.simplefx.com.

Best,
SimpleFX Team
A
NL, Netherlands,
Apr 28, 2019,
Registered user

I never had any issue with trading and withdrawls.
Their support is helpfull when you have questions.
They are constanlty trying to envolve theirselves what is a big plus!

I give this broker a 5 start rating.
Thanks!
A
Reply by SimpleFX.com Representative submitted May 14, 2019:
Thanks AXCESS, we are doing our best to make SimpleFX better every day and such feedback gives us power to go on!
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Frequently Asked Questions

How long does it take to withdraw money from SimpleFX?

The processing time of a withdrawal in SimpleFX depends on the withdrawal methods.
  • Wire transfer withdrawals can take 3-5 working days.
  • Withdrawals via electronic payment systems, bank cards and crypto-currencies are processed within 24 hours.

What is the minimum initial deposit to open an account in SimpleFX?

There is no required minimum initial deposit to open an account with SimpleFX.

You can deposit the amount you are comfortable with.

What is the maximum leverage for SimpleFX?

The maximum leverage for Simple FX is 500:1 for forex trading.

Is SimpleFX regulated?

SimpleFX is registered in Saint Vincent and the Grenadines, but it is not regulated with any regulators.

In other words, there is no designated government or non-government body to supervise the activities of SimpleFX or to resolve complaints.