FXTRADING vs SimpleFX - Fees Review included
Which broker is better FXTRADING or SimpleFX? Our expert assessment conducted according to TU’s own methodology showed that FXTRADING is one of the top brokers in the financial market with the TU Overall Score of 5.4 out of 10. SimpleFX is one of the top brokers in the financial market with the TU Overall Score of 6.48 out of 10. Find out more about TU Overall Score.
| Feature | FXTRADING | SimpleFX |
|---|---|---|
Overall |
3.9 |
3.3 |
3.9 |
1 |
|
4 |
3.5 |
|
4.2 |
3.3 |
|
Investment Instruments |
3.5 |
2.5 |
Platforms and Charting Tools |
4.2 |
4.1 |
Deposit and Withdrawal |
3.8 |
4.0 |
Research |
4.3 |
1 |
Education |
3.7 |
1 |
Support |
3.5 |
3.2 |
Bonuses |
2.1 |
4.1 |
|
|
FXTRADING vs SimpleFX: Pros and Cons
FXTRADING.com is headquartered in Sydney, Australia. It is duly authorized and supervised by one of the most trustworthy Australian regulatory bodies - ASIC. FXTRADING.com is a highly reliable partner in the Forex market. FXTRADING.com operates from Australia due to the country’s strong financial, economic, and political foundation. Professional traders and investors from all over the world value FXTRADING.com for its convenient and secure trading environment.
The SimpleFX broker was registered in the state of Saint Vincent and the Grenadines in 2014 and provides services to traders globally. A distinctive feature of this company is that the broker provides its clients with the opportunity to open accounts and withdraw funds in cryptocurrency. The SimpleFX broker is registered as an international financial company (IBC), but its activities are not subject to the financial regulator. At the moment, there are no awards in the SimpleFX asset.
| FXTRADING | SimpleFX | |
|---|---|---|
| Overall Pros | Raw Spreads & Low Commissions | the ability to open an account in cryptocurrency |
| Australian Owned & ASIC Regulated | the minimum deposit amount is $1 | |
| Up To 500 to 1 Leverage Available | ETH 2.0 Staking | |
| No Deposit or Withdrawal Fees | ||
| Overall Cons | Support is not 24/7. | Not regulated |
| The broker's website lacks key information about spreads and trading conditions | ||
| No bank transfer withdrawal |
FXTRADING vs SimpleFX: Safety and Regulation
| Regulated By: | FXTRADING | SimpleFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
VFSC |
The SimpleFX broker is registered as an international financial company (IBC), but its activities are not subject to the financial regulator. |
FXTRADING vs SimpleFX: Trading Conditions
| Trading Conditions | FXTRADING | SimpleFX |
|---|---|---|
Minimum Deposit |
No minimum deposit |
$1 |
Trading Platforms |
Desktop MT4, Mobile MT4, Web Trader MT4, MT5, IRESS |
MetaTrader 4, SFX |
Max Leverage (Futures) |
1-500 |
1-500 |
Supported Markets |
Forex Currency Pairs, Commodities, CFDs on Indices, Spot Metals, Share CFDs, Energies, Crypto CFDs |
Currencies, stocks, indices, commodities, cryptocurrencies |
Trading assets |
2266+ |
70+ |
Trading Accounts |
Alpha Account, Standard Account |
Standard |
Base Account Currencies |
AUD, USD, EUR, GBP, SGD, NZD, CAD |
USD, cryptocurrencies |
FXTRADING vs SimpleFX: Fees
Forex Trading Fees
| Fee | FXTRADING | SimpleFX |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
1.1 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
| Fee | FXTRADING | SimpleFX |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FXTRADING | SimpleFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
FasaPay e-wallet - 1%, Skrill and Neteller – 3%, crypto - free |
Inactivity Fee |
No |
Yes |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FXTRADING vs SimpleFX: Trading Assets
| Asset Name | FXTRADING | SimpleFX |
|---|---|---|
Overall |
2266+ |
70+ |
Forex |
Yes |
yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
No |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
FXTRADING or SimpleFX: Investment Programs
| Asset Name | FXTRADING | SimpleFX |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
Yes |
No |
Managed Accounts |
No |
No |
Other |
Algorithmic trading |
ETH 2.0 staking |
Trading Platforms: SimpleFX or FXTRADING
| FXTRADING | SimpleFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
SimpleFX |
Others |
IRESS |
No |
|
|
FXTRADING vs SimpleFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTRADING | SimpleFX |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
FXTRADING vs SimpleFX: Research
| Research Type | FXTRADING | SimpleFX |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
no |
FXTRADING vs SimpleFX: Education
| Education Type | FXTRADING | SimpleFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
No |
Cent account |
No |
no |
SimpleFX vs FXTRADING: Support
| Support Features | FXTRADING | SimpleFX |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
No |
FXTRADING vs SimpleFX: Forex Bonuses and Promo
| Promo | FXTRADING | SimpleFX |
|---|---|---|
Forex Bonus |
Up to 25% Cover-Up for your losses of initial deposit; Up to $600 Trading bonus to empower your trading; 10% Upfront awarded trading credit; |
First deposit bonus |
Affiliate Program |
The multi tier affiliate program |
SimpleFX Affiliate. The client of the company can earn extra income by attracting new clients: up to 25% of the spread of the invited trader and 5% of the spread of the traders who were invited by the invited traders. |
Other Promos |
||
|
|
Top 5 Reviews on SimpleFX
-
Comment
I never thought that I would be able to let myself be deceived. Last year I fell for the tricks of this SimpleFX company. They swindled $10,000 out of me. And after a month of trading with a mentor, there was nothing left in my account. Be careful!
-
Comment
Blatant deception, your money was used, in the end you are in the zeros and nothing more
-
Comment
About a month ago, my account was reset. Just one, and one zero. Luckily there wasn't much money. Support says "it's just a glitch". But they can't restore it! So draw your own conclusions.
-
Comment
A broker that offers accounts with standard terms. I traded with him for six months, but I could not reach a normal income. It seems that the spreads are not so high, but the profit that I expected when opening an account was still not there. I think that this is due to the speed of order execution - SimpleFX does not have it very good. More precisely, it is suitable for intraday traders, but for high-frequency trading it is better to look for another broker. SimpleFX also has advantages. For example, you can open a cryptocurrency account with this broker. You can also withdraw income in crypto. Leverage for majors is high - up to 1:500. In general, a normal intermediary, but definitely not for scalpers.
-
Comment
SimpleFX is a mid-level company, so I can't say anything particularly bad. Everything is fine here, both the terms and the quality of work. There's not much to praise either. But I've been with them for a few years now)
Top 5 Reviews on FXTRADING
-
Comment
I opened an account with FXTRADING.com in early 2019 and continue to trade here today. The trading conditions fully satisfy me. I haven't encountered any issues with the company. I use a classic account with a floating spread. It's possible to trade actively, as FXTRADING.com doesn't restrict strategies.
-
Comment
This is an ordinary company suitable for trading. It’s not the only one suitable, but also not a bucket shop, there is no lie. The regulations are normal, trades are not canceled. Slippages are moderate and spreads are average for the industry. Trading at FXTRADING.com is completely possible.
-
Comment
I have been working with FXTRADING.com for 5 years. I read reviews about it and I can say that there cannot be similar opinions. It is worth reading reviews about any company and you will find both positive and negative ones. There are as many opinions as there are people. The main thing is your own experience! In 5 years of trading at FXTRADING.com I have had almost no problems, you can work, you just need to be smarter.
-
Comment
These scammers from FXTRADING.com blocked my user account. After I started arguing with them because they disabled my advisor, I submitted a request to withdraw my entire deposit, and they blocked access to my user account. They wrote that they would investigate the case, saying there was a suspicion that I was trading dishonestly. But FXTRADING.com has all the data on how I traded. I cannot interfere with the operation of the platform. I conclude that this is a fraud.
-
Comment
Unfortunately, I encountered FX trading.com. I have repeatedly observed unreasonable spread widening and wild requotes. Never before have I heard of such problems from other traders who work with other companies. I traded with FX trading.com for six months and that was enough for me.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!