SimpleFX Review 2026

Top Brokers Overview — United States
How we tested SimpleFX

Traders Union has analyzed financial markets for over 14 years, evaluating brokers based on 250+ transparent criteria, including security, regulation, and trading conditions. Our expert team of over 50 professionals regularly updates a Watch List of 500+ brokers to provide users with data-driven insights. While our research is based on objective data, we recommend that users perform independent due diligence and consult official regulatory sources before making any financial decisions.

Learn more about our methodology and editorial policies.

SimpleFX Pros & Cons

  • the ability to open an account in cryptocurrency;
  • the minimum deposit amount is $1;
  • its trading platform is the Metatrader 4.
  • the inability to withdraw funds to a bank card;
  • no multilingual technical support;
  • the broker doesn't have a financial regulator;
  • the broker provides only one account type.

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.

TU Expert Verdict

Editor at Cryptocurrency & Blockchain Department

SimpleFX carries a higher degree of risk. My review and user feedback point to noticeable performance issues and limitations. It may be appropriate only for experienced traders who fully understand the risks and are prepared for potential instability.

SimpleFX offers Forex pairs, cryptocurrency CFDs, commodity futures, and stock indices through one Standard account. Its platforms are MetaTrader 4 and the proprietary SFX web and mobile apps. The minimum deposit is $1, leverage reaches 1:500, and EUR/USD spreads start at 0.9 pips. The broker charges no deposit, withdrawal, or inactivity fees and offers negative balance protection and a demo account.

However, a notable drawback is that SimpleFX is unregulated and registered in Saint Vincent and the Grenadines, with no financial authority oversight. Bank card withdrawals are unavailable, customer support is English only, and Forex costs are above average, with no ECN/Raw account. SimpleFX may suit experienced traders who accept counterparty risk, while those prioritizing regulation, broader account choice, or multilingual support may prefer another broker.

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SimpleFX User Reviews

Score:
The administration of the website shall not be liable for the accuracy of the reviews and does not have the technical ability to check the reviews for accuracy, as well as establish whether the authors of the reviews are indeed the customers of a specific company. To learn more about how the User Satisfaction score is calculated and how we apply the Customer Satisfaction Score (CSAT) methodology, please read the assessment criteria.
5.7 /10
31 total
  • 5-star
    3%
  • 4-star
    26%
  • 3-star
    39%
  • 2-star
    16%
  • 1-star
    16%
zamzuri
1 year ago

One of the main drawbacks of SimpleFX is the lack of multilingual technical support. When questions or problems arise, finding a solution in another language can be time-consuming and inconvenient. Especially if you're a newcomer and sometimes need quick help, the language barrier can be a major obstacle. Despite this, SimpleFX is attractive with its minimum deposit amount, which is just $1. This is an excellent opportunity for novice traders and those who don't want to risk large sums at the outset. For beginners, this is one of the best options for trying out the platform without major investments.

L'un des principaux inconvénients de SimpleFX est l'absence de support technique multilingue. Lorsque des questions ou des problèmes surviennent, une solution dans une autre langue peut prendre beaucoup de temps, ce qui entraîne des désagréments. Surtout si vous êtes un nouveau venu et que vous avez parfois besoin d'une aide rapide, la barrière de la langue peut être un obstacle majeur.
Malgré cela, SimpleFX est attractif avec son montant de dépôt minimum, qui n'est que de 1 $. C'est une excellente opportunité pour les traders débutants et ceux qui ne veulent pas risquer de grosses sommes au départ. Pour les débutants, il s'agit de l'une des meilleures options pour essayer la plateforme sans investissements importants.

delanth
1 year ago

I really like SimpleFX, especially the ability to trade on the MetaTrader 4 platform, a classic and practical tool that many traders have known for a long time. The platform works stably, order execution is fast and the functionality allows you to use all the tools you need for analysis and trading. Everything is clearly configured and terminal operation is virtually trouble-free. However, there is one major drawback: the broker has no financial regulator. This is always a cause for concern, particularly when it comes to the security of funds and the long-term stability of the company's activities. In the absence of official control by regulatory bodies, the question arises as to how long this will last.

J'aime beaucoup SimpleFX, en particulier pour la possibilité de négocier sur la plateforme MetaTrader 4. Il s'agit d'un outil classique et pratique que de nombreux traders connaissent depuis longtemps. La plateforme fonctionne de manière stable, l'exécution des ordres est rapide et la fonctionnalité vous permet d'utiliser tous les outils nécessaires à l'analyse et au trading. Tout est clairement configuré et le fonctionnement du terminal ne pose pratiquement aucun problème.
Cependant, il y a un inconvénient important : le courtier n'a pas de régulateur financier. Cela suscite toujours certaines inquiétudes, notamment en ce qui concerne la sécurité des fonds et la stabilité à long terme des activités de l'entreprise. En l'absence de contrôle officiel de la part des organismes de régulation, la question se pose de savoir combien de temps tout cela va durer.

bandula85
1 year ago

One of the main drawbacks of SimpleFX is the lack of multilingual support. When problems arise, getting help in another language can be frustratingly time-consuming. For beginners who sometimes need fast assistance, the language barrier can pose a major problem. Although the minimum deposit is only $1, which makes the platform attractive to beginners, these support issues make the whole platform less reliable.

L'un des principaux inconvénients de SimpleFX est l'absence de support multilingue. Lorsque des problèmes surviennent, obtenir de l'aide dans une autre langue peut prendre beaucoup de temps, ce qui est frustrant. Pour les débutants qui ont parfois besoin d'une assistance rapide, la barrière de la langue peut poser un problème majeur. Bien que le dépôt minimum soit seulement de 1 $, ce qui rend la plateforme attrayante pour les débutants, ces problèmes de support rendent l'ensemble de la plateforme moins fiable.

  • Commissions and Fees

    Score:
    We evaluate brokers' fees and spreads by assessing the costs associated with Standard and ECN/Raw spread accounts, including commissions and spreads. Additionally, our evaluation considers extra fees such as deposit/withdrawal charges and inactivity fees. Learn the assessment criteria
    5 /10

    The trading and non-trading commissions of SimpleFX have been analyzed and rated as having Medium fees, with a fees score of 5/10. Additionally, these commissions were compared with those of the top two competitors, OANDA and FOREX.com, to provide the most comprehensive information.

    • No inactivity fee
    • No deposit fee
    • No withdrawal fee
    • Above-average Forex trading fees
    • No ECN/Raw Spread account

    Trading Fees and Spread

    Below, we evaluated and compared the trading commissions of SimpleFX with those of two competitors. We focused on the spreads and other transaction fees directly associated with executing trades (e.g commission per lot on an ECN account). This comparison aimed to provide a clear understanding of the cost efficiency of each broker.

    Standard Account Spread

    For Standard accounts, SimpleFX’s commissions are part of the floating spread, which varies with market conditions. Typical values are provided, but during high volatility, the spread may exceed these.

    SimpleFX Standard spreads
    SimpleFX OANDA FOREX.com
    EUR/USD min, pips 0.9 0.1 0.7
    EUR/USD max, pips 1.5 0.5 1.2
    GPB/USD min, pips 0.9 0.1 0.9
    GPB/USD max, pips 1.5 0.5 1.4

    Does SimpleFX support RAW/ECN accounts?

    As we discovered, SimpleFX does not offer RAW/ECN accounts, which might be a drawback for transparency and liquidity. However, this doesn't make the broker uncompetitive. Consider factors like spread levels, execution speed, regulation, support quality, and trading tools when choosing a reliable broker.

    Non-Trading Fees

    We conducted a detailed analysis of the non-trading fees associated with SimpleFX. This review offers a comprehensive overview of the additional costs that may impact traders beyond regular trading activities.

    SimpleFX Non-Trading Fees
    SimpleFX OANDA FOREX.com
    Deposit fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0
    Withdrawal fee, % The indicated amount does not include possible fees from payment systems and banks. 0 0 0
    Withdrawal fee, USD The indicated amount does not include possible fees from payment systems and banks. 0 0-15 0
    Inactivity fee ($, per month) 0 0 15
  • Is SimpleFX Safe?

    Score:
    We evaluate brokers' safety based on several key criteria. The highest value is placed on regulation, especially Tier 1 regulation, which ensures adherence to stringent standards set by top financial authorities like the FCA in the UK, CFTC in the US, CySEc and BaFin (EU) or ASIC (Australia). High scores are also given for participation in investor protection funds, which safeguard clients' funds in case of broker insolvency. Learn the assessment criteria
    2.5 /10

    SimpleFX has a safety score of 2.5/10, which corresponds to a Low security level. The safest brokers are those with Tier-1 regulation, a long history (over 10 years in the market), and participation in investor compensation schemes.

    • Negative balance protection
    • Track record over 12 years
    • Not tier-1 regulated
    • Not regulated
    SimpleFX Security Factors
    Foundation date 2014
    Negative balance protection
    Yes
    Verification (KYC)
    Yes

    SimpleFX is Not a Regulated Broker

    Attention! It's your choice to work with regulated or unregulated brokers, but please consider the risks carefully. Unregulated brokers might offer lower fees and flexible trading options, but they lack investor protection, have a higher fraud risk, and no guarantee of withdrawals. Thoroughly research before deciding.

  • Account Types

    Score:
    We evaluate a broker’s account offering by analyzing the range and suitability of available account types and how effectively they cater to different trader profiles and strategies. Our assessment covers the diversity of account options — including Standard, ECN/Raw, Cent, Swap-Free (Islamic), and VIP accounts — as well as the flexibility of trading conditions provided. Learn the assessment criteria.
    6 /10

    SimpleFX offers the following account options: Demo, Standard.

    However, it does not provide a Cent account, which can be a disadvantage for beginners looking to practice with minimal risk.

    • Low minimum deposit
    • Demo account
    • Standard account with balanced trading conditions
    • No Swap Free account
    • No Cent account
    SimpleFX account types vs top competitors
    SimpleFX Plus500 OANDA
    Standard
    Yes
    Yes
    Yes
    ECN/Raw spread
    No
    No
    Yes
    Demo
    Yes
    Yes
    Yes
    Cent
    No
    No
    No
    Micro
    No
    No
    Yes
    Swap Free
    No
    No
    Yes
    VIP
    No
    No
    No
    Managed
    No
    No
    No

    SimpleFX accounts trading conditions

    The SimpleFX broker has only one account type – Standard.

    Types of accounts:

    Account Type Description
    Standard The Standard account has a minimum deposit starting from $1. The minimum spread for currency pairs is 0.9 pips. The leverage is up to 1:500. The minimum lot is 0.01. Margin call/Stop out level is 20%/20%.

    SimpleFX is a broker that focuses primarily on cryptocurrency traders.

  • Deposit and Withdrawal

    Score:
    This section assesses the efficiency, speed, and affordability of brokers’ transaction processes, focusing on available methods, currencies, and fees. For further details, please refer to our data-focused methodology
    5.5 /10

    SimpleFX received a Medium score for the efficiency and convenience of its deposit and withdrawal processes.

    SimpleFX provides a reasonable range of deposit and withdrawal options with moderate fees, in line with industry standards.

    • No withdrawal fee
    • No deposit fee
    • Bank wire transfers available
    • PayPal supported
    • Limited deposit and withdrawal flexibility, leading to higher costs
    • No bank card option
    • Only major base currencies available

    What are SimpleFX deposit and withdrawal options?

    SimpleFX provides a basic range of deposit and withdrawal options, covering essential methods in line with industry standards. This set of options is sufficient for most traders, with available methods Bank Wire, PayPal, Neteller, BTC, USDT, Ethereum.

    SimpleFX Deposit and Withdrawal Methods vs Competitors
    SimpleFX Plus500 OANDA
    Bank Wire
    Yes
    Yes
    Yes
    Bank card
    No
    Yes
    Yes
    PayPal
    Yes
    Yes
    Yes
    Wise
    No
    No
    No
    BTC
    Yes
    No
    Yes

    What are SimpleFX base account currencies?

    A wide range of base account currencies minimizes the need for currency conversion, potentially reducing transaction costs. SimpleFX supports the following base account currencies: USD, Bitcoin.

    What are SimpleFX's minimum deposit and withdrawal amounts?

    The minimum deposit on SimpleFX is $1, while the minimum withdrawal amount is $10. These minimums may vary depending on the chosen account type and payment method. For specific details, please contact SimpleFX’s support team.

  • Markets and Tradable Assets

    Score:
    The evaluation in this section is based on the TU methodology and reflects the total number and variety of tradable assets offered by the broker, including Forex currency pairs. It also considers the availability of passive income tools such as PAMM accounts, copy trading, and similar services. All information is obtained from publicly available sources and may change. Learn the assessment criteria
    4.8 /10

    SimpleFX offers a limited selection of trading assets compared to the market average. The platform supports 229 assets in total, including 50 Forex pairs.

    • Indices trading
    • 50 supported currency pairs
    • Crypto trading
    • Futures not available
    • No ETFs

    Supported markets vs top competitors

    We have compared the range of assets and markets supported by SimpleFX with its competitors, making it easier for you to find the perfect fit.

    SimpleFX Plus500 OANDA
    Currency pairs 50 60 68
    Total tradable assets The total tradable assets listed include all available instruments, including CFDs. Due to regional restrictions, certain CFDs may not be offered in some countries. For example, cryptocurrency CFDs are banned in the UK, and the U.S. has restrictions on CFDs. 229 2800 129
    Stocks
    No
    Yes
    Yes
    Commodity futures
    Yes
    Yes
    Yes
    Crypto Cryptocurrency CFDs are restricted or prohibited in certain regions due to regulatory limitations. These include the United Kingdom, China, Egypt, the United States and Canada.
    Yes
    Yes
    Yes
    Stock indices
    Yes
    Yes
    Yes
    Options
    No
    Yes
    No

    Investment options

    We also explored the trading assets and products SimpleFX offers for beginner traders and investors who prefer not to engage in active trading.

    SimpleFX Plus500 OANDA
    Bonds
    No
    No
    Yes
    ETFs
    No
    Yes
    No
    Copy trading
    No
    No
    Yes
    PAMM investing
    No
    No
    No
    Managed accounts
    No
    No
    No
  • Trading Account Opening

    Score:
    We evaluated Trading Account Opening at SimpleFX by testing the registration process under real conditions, including opening an account and funding it with the minimum required deposit (but no less than $100). Our assessment considered whether onboarding was fully online, the average registration time, the speed of KYC verification, and how quickly traders could activate their accounts. Learn the assessment criteria.
    8 /10

    We successfully registered an account with SimpleFX in 20 minutes. The KYC verification was completed within 2 business days. The minimum deposit amount at SimpleFX is $1. This is one of the most accessible and hassle-free onboarding procedures on the market.

    • Fully online account opening process
    • Low minimum deposit requirement
    • Account approval may require extra time depending on the documentation.
    • Registration process may take longer than expected
    SimpleFX account opening
    SimpleFX Plus500 OANDA
    Online Registration
    Yes
    Yes
    Yes
    Minimum deposit $1 $100 $0
    Mandatory KYC
    Yes
    Yes
    Yes
    Registration time (min) 20 10
    KYC time (days) 2 3 3

    Is SimpleFX available in my country?

    If you are a citizen of United States, the broker accepts clients from your country.

    Please note that availability may vary due to regulatory requirements, so we recommend confirming directly with the broker for the most accurate and up-to-date information.

    Account opening details

    If you want to trade with SimpleFX and get compensation from the Traders Union using the rebate service, then:

    • Register on the Traders Union site and follow the affiliate link to the broker's website. Then click the Create Account button.

    • Then register. The registration of new clients is quite simple with this broker. To do so, just specify your email address and agree to the terms of the broker's services.

    • The following useful functions will be available for you in your personal account:

      • Current quotes and charts on currency pairs.
      • The ability to open trades directly from your personal account.

    Also, other useful functions will be available in your personal account:

    • the balance under the affiliate program;
    • statistics (statement) of the trader's trades;
    • personal data changing;
    • technical support and assistance of a personal manager;
  • Trading Platforms & Tools

    Score:
    This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles. Learn the assessment criteria
    7.3 /10

    SimpleFX received a score of 7.3/10, reflecting an average offering in terms of trading platforms and tools. The broker covers essential functionality but may fall short in some advanced features or platform diversity compared to leading competitors.

    • Free VPS for uninterrupted trading
    • Trading bots (EAs) allowed
    • Proprietary platform with unique features
    • One-click trading
    • No TradingView integration
    • No access to API
    • No access to cTrader and its advanced tools.

    Supported trading platforms

    SimpleFX supports the following trading platforms: MT4, Proprietary platform. This selection covers the basic needs of most retail traders. We also compared SimpleFX’s platform availability with that of top competitors to assess its relative market position.

    SimpleFX Plus500 OANDA
    MT4
    Yes
    No
    Yes
    MT5
    No
    No
    Yes
    cTrader
    No
    No
    No
    TradingView
    No
    Yes
    Yes
    Proprietary platform
    Yes
    Yes
    Yes
    NinjaTrader
    No
    No
    No
    WebTrader
    No
    Yes
    Yes

    Key SimpleFX’s trading platform features

    We also evaluated whether SimpleFX offers essential trading features that enhance user experience, accommodate various trading styles, and improve overall functionality.

    Supported features
    2FA
    Yes
    Alerts
    Yes
    Trading bots (EAs)
    Yes
    One-click trading
    Yes
    Scalping
    No
    Supported indicators 76
    Tradable assets 229

    Additional trading tools

    SimpleFX offers several additional features designed to enhance the trading experience. These tools provide greater automation, deliver advanced market insights, and help improve trade execution.

    SimpleFX trading tools vs competitors
    SimpleFX Plus500 OANDA
    Trading Central Trading Central is a leading provider of investment research and financial market commentary. Integration with Trading Central offers traders advanced analytics, trading signals, and expert market insights, aiding in more informed decision-making.
    No
    No
    No
    API
    No
    No
    Yes
    Free VPS
    Yes
    No
    Yes
    Strategy (EA) builder A Strategy or EA builder is a tool that allows traders to create and test their own automated trading strategies without requiring programming skills.
    No
    No
    Yes
    Autochartist Autochartist is a market scanning tool that identifies trading opportunities by analyzing chart patterns and key price levels.
    No
    No
    Yes
  • Mobile Apps

    Score:
    This section assesses the quality and functionality of the broker’s mobile trading apps. It takes into account app ratings, number of downloads, platform features such as two-factor authentication (2FA), mobile alerts, and technical indicators, ensuring traders can manage positions and monitor markets effectively from their smartphones. Learn the assessment criteria
    6.5 /10

    SimpleFX supports mobile trading, offering dedicated apps for both iOS and Android. SimpleFX received a score of 6.5/10 in this section, indicating a generally acceptable mobile trading experience.

    • Indicators supported
    • Solid iOS user feedback, with a rating of 5/5
    • Mobile alerts not supported
    • Mobile 2FA not supported

    We compared SimpleFX with two top competitors by mobile downloads, app ratings, 2FA support, indicators, and trading alerts.

    SimpleFX Plus500 OANDA
    Total downloads The parameter reflects the combined number of installations from both the Apple App Store and Google Play. It serves as an approximate indicator of the broker’s mobile trading app popularity and user adoption across platforms. 50,000 10,000,000 1,000,000
    App Store score App store scores reflect the average user ratings of the broker’s mobile applications on the Apple App Store and Google Play. These ratings indicate user satisfaction based on criteria such as usability, stability, performance, and overall experience. 5 4.7 4.8
    Google Play score 3.9 4.4 3.4
    Mob. 2FA
    No
    Yes
    Yes
    Mob. Indicators
    Yes
    Yes
    Yes
    Mob. Alerts
    No
    Yes
    Yes
  • Customer Support

    Score:
    We evaluated Customer Support at SimpleFX by opening a real account funded with the minimum required deposit (no less than $100) and contacting support to measure response time under real conditions. Our assessment considered contact channels, response speed, multilingual support, and availability hours. Learn the assessment criteria
    5.9 /10

    Customer support at SimpleFX is available, but response speed and service quality may vary. Some requests are handled efficiently, while others may require follow-ups.

    During testing, response times were moderate, and communication depended on the complexity of the request. SimpleFX provides basic support functionality but does not stand out in overall service performance.

    Information

    The support service operates twenty-four/five.

    • Online chat is available
    • The FAQs section provides answers to the most common questions
    • Support via email is available
    • Doesn't work on weekends
    • No telephone support available
    • No feedback form available
    • On average, you have to wait for a response for about a week

    There are several ways to contact customer support specialists:

    • via email;
    • via online chat;
    • using your personal account under the tab that reads the Support section.

    Support is provided on the broker's SimpleFX website, as well as in your personal account – in the Support section.

    Contacts
    Foundation date 2014
    Registration address Griffith Corporate Centre, Beachmont, Kingstown VC0100, Saint Vincent and the Grenadines
    Official site simplefx.com

Best SimpleFX Alternatives

Plus500
Logo Plus500
Plus500
7.7 /10
Regulation Tier-1
EUR/USD 0.5 pips
OANDA
Logo OANDA
OANDA
7.2 /10
Regulation Tier-1
EUR/USD 0.1 pips
Trading.com USA
Logo Trading.com USA
Trading.com USA
6 /10
Regulation Tier-1
EUR/USD 0.9 pips
FOREX.com
Logo FOREX.com
FOREX.com
7.1 /10
Regulation Tier-1
EUR/USD 0.7 pips
IG Markets
Logo IG Markets
IG Markets
7 /10
Regulation Tier-1
EUR/USD 0.6 pips

FAQs

Is SimpleFX a regulated forex broker and how is its safety assessed?

According to the review, SimpleFX is not a regulated broker and has a safety score of 2.5/10, which corresponds to a low security level. It offers negative balance protection and requires KYC verification, but the absence of Tier-1 regulation and investor protection schemes may increase risks compared with more strictly supervised brokers.

How are SimpleFX trading commissions and non-trading fees described in expert reviews?

The review rates SimpleFX’s overall fee level as medium, with above-average forex trading fees and no ECN/Raw Spread account option. However, it notes that there are no inactivity, deposit, or withdrawal fees, so additional non-trading costs are limited according to the section.

What account types and trading conditions does SimpleFX offer according to broker reviews?

The review states that SimpleFX provides a single Standard account and a demo account, with no swap-free, micro, cent, VIP, or managed accounts. The Standard account has a minimum deposit from $1, spreads from 0.9 pips, leverage up to 1:500, a minimum lot of 0.01, and a 20% margin call/stop-out level, and the broker is described as focusing primarily on cryptocurrency traders.

What deposit and withdrawal options are available with SimpleFX and what limits apply?

The review indicates that SimpleFX supports deposits and withdrawals via bank wire, PayPal, Neteller, Bitcoin, USDT, and Ethereum, but does not support bank cards or Wise. The minimum deposit is $1 and the minimum withdrawal is $10, though the section notes these thresholds may vary by payment method and account specifics.

What feedback is available on the SimpleFX mobile trading apps and their features?

The review notes that SimpleFX offers mobile apps for iOS and Android, with an App Store rating of 5 and a Google Play rating of 3.9, and total downloads of about 50,000. The apps support trading indicators but do not support mobile two-factor authentication or mobile alerts, which may be relevant for users comparing mobile security and notification features.

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