Trading 212 vs SimpleFX - Fees Review included
Which broker is better Trading 212 or SimpleFX? Our expert assessment conducted according to TU’s own methodology showed that Trading 212 is one of the top brokers in the financial market with the TU Overall Score of 4.89 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 | Trading 212 | SimpleFX |
|---|---|---|
Overall |
3.9 |
3.3 |
4.5 |
1 |
|
3.5 |
3.5 |
|
4.7 |
3.3 |
|
Investment Instruments |
1 |
2.5 |
Platforms and Charting Tools |
2.8 |
4.1 |
Deposit and Withdrawal |
4.1 |
4.0 |
Research |
3.7 |
1 |
Education |
3.8 |
1 |
Support |
3.9 |
3.2 |
Bonuses |
1 |
4.1 |
|
|
Trading 212 vs SimpleFX: Pros and Cons
The Trading 212 brokerage company (trading212.com) is registered to do business in London in 2006. Its specialization is the provision of services for investment and active trading in the foreign exchange and stock markets. The company is regulated and licensed by the UK Financial Conduct Authority (FCA) and by CySEC in Europe. The broker does not provide data on awards received during the work.
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.
| Trading 212 | SimpleFX | |
|---|---|---|
| Overall Pros | low level of the minimum deposit | the ability to open an account in cryptocurrency |
| a large selection of trading assets | the minimum deposit amount is $1 | |
| Big choice of Stocks and ETFs | ETH 2.0 Staking | |
| UK and EU regulated broker | ||
| Overall Cons | lack of investment programs | Not regulated |
| a small number of ways to contact support | The broker's website lacks key information about spreads and trading conditions | |
| the company does not hold contests for traders | No bank transfer withdrawal |
Trading 212 vs SimpleFX: Safety and Regulation
| Regulated By: | Trading 212 | SimpleFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
The SimpleFX broker is registered as an international financial company (IBC), but its activities are not subject to the financial regulator. |
Trading 212 vs SimpleFX: Trading Conditions
| Trading Conditions | Trading 212 | SimpleFX |
|---|---|---|
Minimum Deposit |
£1, €1 |
$1 |
Trading Platforms |
Web platform, a mobile app for iOS and Android |
MetaTrader 4, SFX |
Max Leverage (Futures) |
1:30 (retail clients), 1:500 (Pro clients) |
1-500 |
Supported Markets |
Currency pairs, CFDs on stocks, indices, futures, commodities, ETFs |
Currencies, stocks, indices, commodities, cryptocurrencies |
Trading assets |
over 12,000 stocks and ETFs available in the Invest/ISA accounts and over 5,000 leveraged instruments in the CFD account |
70+ |
Trading Accounts |
Trading 212 Invest, Trading 212 CFD, ISA (available for UK clients) |
Standard |
Base Account Currencies |
GBP, EUR |
USD, cryptocurrencies |
Trading 212 vs SimpleFX: Fees
Forex Trading Fees
| Fee | Trading 212 | SimpleFX |
|---|---|---|
Standard Account EURUSD Average Spread |
2.3 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 | Trading 212 | SimpleFX |
|---|---|---|
CFD Trading Fee |
Other fees |
Floating spread |
Non-Trading Fees
| Fee | Trading 212 | SimpleFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
0,7% if you deposit more than 2000 EUR with debit or credit card |
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.
Trading 212 vs SimpleFX: Trading Assets
| Asset Name | Trading 212 | SimpleFX |
|---|---|---|
Overall |
over 12000+ |
70+ |
Forex |
Yes |
yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes |
No |
Bonds |
Yes (CFD) |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes (CFD) |
No |
Binary Options |
No |
No |
Trading 212 or SimpleFX: Investment Programs
| Asset Name | Trading 212 | SimpleFX |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
ETH 2.0 staking |
Trading Platforms: SimpleFX or Trading 212
| Trading 212 | SimpleFX | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
Trading 212 |
SimpleFX |
Others |
No |
No |
|
|
Trading 212 vs SimpleFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Trading 212 | SimpleFX |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
No |
Yes |
Trading 212 vs SimpleFX: Research
| Research Type | Trading 212 | SimpleFX |
|---|---|---|
News Feed |
No |
No |
Fundamental Data |
No |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
No |
no |
Trading 212 vs SimpleFX: Education
| Education Type | Trading 212 | SimpleFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
No |
Articles |
No |
No |
Videos |
Yes |
No |
Cent account |
No |
no |
SimpleFX vs Trading 212: Support
| Support Features | Trading 212 | SimpleFX |
|---|---|---|
Working Days |
24/7 |
24/5 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
No |
Yes |
Other |
feedback form |
No |
Trading 212 vs SimpleFX: Forex Bonuses and Promo
| Promo | Trading 212 | SimpleFX |
|---|---|---|
Forex Bonus |
No |
First deposit bonus |
Affiliate Program |
Promo offer. It works according to the principle of a standard referral program. A client of the company becomes a partner of a broker, receives an individual referral link and attracts new users to the company. The referrer gets a bonus for each new active trader. Trading 212 provides a tiered referral program that rewards every client and friend they refer with a free share (or a share of the whole share) up to €100/GBP. |
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 Trading 212
-
Comment
I haven’t traded or registered with Trading 212 yet, but I think I should try, since the company is interesting. I am currently studying reviews about this broker. So far nothing bad has happened.
-
Comment
I like trading with trading 212. The conditions are normal. The minimum deposit is really minimal - €1, but it is better to make a normal deposit, you understand. The platform works properly too. I checked the quotes, they correspond to the market. Sometimes, opening and closing of trades is not fast enough, but it is within reasonable time.
-
Comment
I have been trading with Trading 212 for almost 2 years. The broker is not bad and it withdraws money. However, there are some problems: there are requotes and the platform freezes sometimes. But the broker is regulated, which is a plus! I’m currently trading with another company, but I have this one in mind.
-
Comment
Withdrawals and execution are fine at Trading 212. Now I make a profit, but there were different situations. I decided to trade here, as they withdraw money without any problems.
-
Comment
I came to trading 212 a couple of years ago, it’s a worthy company. What I like most is the respectful attitude towards the trader. The support has helped me more than once; the operators regularly advise me on all issues that arise. This helps me a lot in trading.
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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!