SimpleFX Review 2025

Trust

SimpleFX Regulations

In our reviews, we examine the licenses and regulations of each entity operated by a broker, allowing us to compare their different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

This is what I discovered about the two entities operating under the SimpleFX trade name:

• 8Tech SVG (formerly SimpleFX Ltd) is registered in Saint Vincent and the Grenadines under register number 22361 BC 2014. The entity is not regulated.
• 8tech Ltd is licensed and regulated by the Financial Services Commission (FSC) of Mauritius under license number GB23201604. We rate the FSC as a Tier-3 regulator.

Understanding the Regulatory Protections of Your Account

Brokers operate multiple entities globally, but regulatory protections vary. Some regulators enforce stricter financial standards than others, so traders should understand the safety measures of the entity they choose to open an account with.

Here is what you need to be looking for in a broker in terms of safety mechanisms:

• Segregation of client funds. Keeping client funds in segregated bank accounts from the ones used for the broker’s corporate capital negates the risk of accounting errors. Client funds are kept in segregated accounts with both SimpleFX entities.
• Negative balance protection. This safety mechanism removes the risk of trading losses exceeding the account balance. In other words, the losses you incur from trading are capped at the amount you have put in your trading account. Both SimpleFX entities claim to provide negative balance protection.
• Compensation scheme. A compensation scheme protects traders against the broker’s liabilities if the company becomes insolvent. SimpleFX clients are not protected by a compensation scheme.
• Maximum leverage. Capping the maximum leverage restricts the extent of market exposure to retail traders. The higher the leverage, the higher the potential profits and potential losses. The maximum retail leverage with SimpleFX is 1:1000.

Stability and Transparency

In our Trust category assessments, we evaluate factors tied to stability and transparency, including the broker’s longevity, company size, and information transparency.

SimpleFX has been operational for over a decade, which attests to its well-functioning business model. I went over the broker’s legal documents, including its Client Agreement, and assessed that everything was in order. All important information is readily available and easy to discern.

Additionally, I discovered that the Mauritius-based entity operates on a ‘best execution’ basis, whereby it’s required to provide its clients with the most optimal price quotes under the prevailing market conditions.

Is SimpleFX Safe to Trade With?

SimpleFX’s Trust Score was impacted because one of its two entities is unregulated. However, I still found it sufficiently safe to trade with due to the following factors:

• Keeps client funds in segregated accounts
• Guarantees negative balance protection
• Provides legal information on its website

Fees

SimpleFX Trading Fees

SimpleFX Spreads

I tested SimpleFX’s spreads on 12 February 2025 during the London and New York opens. The results are shown in the table below:

I discovered that, broken down by asset class and compared to the industry average, SimpleFX charges low spreads on currency pairs, average spreads on share CFDs and indices, and high spreads on cryptocurrencies and commodities.

SimpleFX Swaps

A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

The values listed below are for one full base currency contract (100,000 units).

My live testing indicates that SimpleFX’s swaps are aligned with the industry benchmark, making it suitable for longer-term trading. However, overnight charges change over time.

SimpleFX Non-Trading Fees

After 90 calendar days of dormancy, the broker charges dormant accounts a $20 inactivity fee. The fee is charged every month until account activity resumes or the account balance drops to zero.

SimpleFX does not impose a handling fee for deposits. However, the broker charges a handling fee for withdrawals, which varies depending on the preferred payment method. Third-party banking fees may also apply.

Are SimpleFX’s Fees Competitive?

I concluded that SimpleFX’s trading fees are generally less competitive than the industry average. While the broker offers competitive spreads on forex, its spreads on other popular instruments were on the higher side during my tests. Additionally, non-trading fees are relatively high.

Platforms and Tools

SimpleFX Web Trader

I tested the web version of SimpleFX’s trading platform. It features one-click trading but lacks a depth-of-market tool and an alarm-setting option. On the other hand, the SimpleFX platform is one of a few that has a built-in trading calculator, helping traders size their positions. It is also fully integrated with SimpleFX’s market insights and trading ideas.

The SimpleFX platform is a great option for day traders who want to conduct probing technical analyses and learn about trading setups that are currently developing. I also determined that the platform is a great option for automated trading when using an API protocol.

General Ease of Use

The SimpleFX platform is available on Windows and Mac and supports 14 languages, including English, French, Spanish, German, Arabic, Chinese, and more.

Here is a list of some of the platform’s standout features:

• Trading Calculators: Traders can use the built-in trading calculator to estimate their market exposure, risk factors, potential profit, and more. It is available directly from the platform, making the process even faster.
• Watchlist Customization: Traders can populate watchlists with their favorite instruments and track market changes more easily.
• One-click Trading: This feature enables instant market entries at the spot price and is invaluable for high-precision traders, such as scalpers.
• Trading from the Chart: Traders can place conventional trading orders directly from the chart, specifying the entry price, volume level, stop, and take-profit levels, and more.

Charts

The SimpleFX Web Trader’s charts are powered by TradingView, making them extremely fluid and easily scalable. Price action is represented in high definition, catering to the needs of chart artists and technical traders.

I have broken down the available analytical tools and chart configurations below:

• 105 technical indicators: These include trend-based and volume-based indicators and oscillators that analyze price action and assess market sentiment, helping predict market movements.
• 51 drawing tools: Tools like Fibonacci retracement levels and Elliott waves help identify price patterns, support/resistance levels, and breakout points.
• 9 timeframes: For multi-timeframe analysis, enabling detailed price action analysis.
• 5 chart types: Price action can be represented in different ways, offering diverse perspectives on trading opportunities.

The chart screen is undeniably one of the most crucial features of a trading platform. It equips traders with essential tools and configurations to analyze price action and spot trading opportunities. Just as important is the ability to easily scale price action, allowing for a clearer and more detailed view of market movements.

Orders

The SimpleFX platform features three types of order execution: market, pending (right), and one-click trading (left), which allows for immediate entries at the spot price.

I have broken down the available order types below:

• Market Orders: Used for immediate entry at the best available price. They guarantee volume filling, though the entry price may differ from the requested price.
• Limit Orders: Guarantee exact price entries, but won’t be filled if the price doesn’t reach the trigger level.
• Stop Orders: They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

SimpleFX Web Platform: My Key Takeaways

The SimpleFX platform offers a pleasant, user-friendly design with advanced charting capabilities by TradingView. I appreciated its seamless integration with frequent market research and trading calculators, as well as the quick and intuitive search function for trading instruments. However, it lacks an alert-setting option and a depth-of-market tool.

SimpleFX Trading App

The SimpleFX mobile app is available on iOS and Android, enabling quick and easy access to the market on the go. It has an intuitive and easy-to-navigate layout with high-detail charts.

I found the SimpleFX app very useful for opening, terminating, and adjusting open positions. Moreover, you can use the app to place market, limit, and stop orders and adjust the exposure of your open trades.

SimpleFX App: My Key Takeaways

The SimpleFX mobile app retains the flexibility of the web trader, though it lacks drawing tools. The app features direct customer support, biometric login, and two-factor authentication. Overall, I found it quite flexible and easy to navigate.

SimpleFX Execution Model

SimpleFX operates as a Straight-Through Processing (STP) broker without a dealing desk. Client orders are routed to the broker’s pool of liquidity providers, where they are filled at the best possible price.

API Protocols

SimpleFX offers various trading API protocols for an enhanced trading experience (advanced charting tools, fast order execution, trade automation, and more). You can learn more about it here.

Tradable Instruments

Broken down by asset class and compared to the industry average, SimpleFX offers an average number of currency pairs and a high number of commodities, share CFDs, indices, and cryptocurrencies.

What Are CFDs?

Contracts for Difference (CFDs) are financial derivative instruments that allow traders to speculate on the price movements of an asset without owning the asset itself.

For instance, taking a long position in gold would result in a profit for the trader if the price goes up or, respectively, a loss if the price goes down. The opposite would be true for a short position in gold.

A key advantage of trading CFDs is the ability to enter and exit the market almost instantly, enabling traders to capitalize on even minor price fluctuations in the derivative.

What CFDs Can You Trade With SimpleFX?

SimpleFX Instruments: My Key Takeaways

I found SimpleFX’s selection of tradable instruments to be pretty diverse and to cater to the needs of various types of traders. The available selection sits in the upper range by asset class and offers exposure to different markets and trading opportunities. My only small gripe is that there is no alternative to CFDs, as the broker does not offer futures contracts, vanilla options, treasuries, etc.

Customer Support

Customer Support Channels

Customer Support Test

When we test a broker’s customer support, we evaluate the agent’s knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

I conducted my testing on 12 February 2025 at around 5:25 p.m. CET via live chat. Before connecting to an agent, I had to provide my email address and navigate a chatbot.

The agent was not overly talkative, but his answers were fast and straight to the point. I also found the broker’s chatbot to be quite intuitive and very helpful in resolving more straightforward questions.

Deposit and Withdrawal

SimpleFX Deposits

SimpleFX Withdrawals

Account Types and Terms

SimpleFX Account Opening Process

To create an account with SimpleFX, follow these easy steps:

1. Click ‘Trade’ at the top-right corner of the main page.
2. Click ‘Create Account’ and proceed.
3. Enter your email address and choose a password.
4. Agree to SimpleFX’s Terms and Conditions.
5. Confirm your email address.
6. Begin the verification process from the client area.
7. Choose the entity (SVG or MU) to onboard with.
8. Upload proof of ID and proof of address to verify your account.
9. Set up a live account.

SimpleFX Account Types

I was impressed by the range of SimpleFX’s range of 35 available base currencies, including 15 fiat and 20 digital currencies. I also found the combination of an 80% margin call and 20% stop out suitable for inexperienced traders as it protects them against the risk of complete account wipeout.

Demo Accounts

SimpleFX offers a demo account that introduces traders to the broker’s services and allows them to tweak their strategies in a risk-free environment. The market is continually evolving and never static, so it is important to hone your skills in a safe environment. You can set up a demo account for yourself before or alongside your live CFD account.

Islamic Accounts

SimpleFX does not offer Islamic accounts for swap-free trading.

What is CFD Leverage?

Leverage determines a trader’s overall market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of leverage. Essentially, the broker lends the trader money so that they can open bigger positions. Leverage multiplies the profits a trader generates from winning positions, but also the losses incurred from failed trades.

Maximum Leverage By Asset Class

In the table below, I have listed the maximum retail leverage available with SimpleFX for instruments from different asset classes:

SimpleFX Restricted Countries

SimpleFX does not accept as clients residents of the US, Afghanistan, Belarus, Central African Republic, Cuba, Eritrea, Germany, Guam, Guinea Bissau, Iran (Islamic Republic of), Lebanon, Mali, Mauritius, Myanmar, Namibia, North Korea, Pakistan, Poland, Puerto Rico, Romania, Russia, Saint Vincent and the Grenadines, Somalia, South Sudan, Sudan, Syria, the Ukrainian regions of Crimea, Donetsk, and Luhansk, United States Minor Outlying Islands, Venezuela, Virgin Islands (U.S.), Yemen, and Zimbabwe.

Research

Research Tools

I have broken down SimpleFX’s research content by type below:

• Economic Calendar: The economic calendar is the most rudimentary tool in a trader’s arsenal. It informs the trader of upcoming economic releases and other financial events that can potentially create viable trading opportunities.
• Market Insights: Recent market developments are covered in length, with a heavy reliance on fundamental analysis. I found SimpleFX’s market insights to be sufficiently informative, and I also liked that they are available from the platform.
• Trading News: The broker’s platform also has a built-in news screener so that traders can stay informed about recent news and market developments.
• Featured Trading Ideas: SimpleFX platform users have access to actionable trading ideas that heavily emphasize technical analysis. While the charts are well-structured, this type of content lacks proper explanations.

SimpleFX Research: My Key Takeaways

As a whole, SimpleFX’s research content is sufficiently diverse, though it lacks depth in some aspects. While its market insights are very informative, its trading ideas often lack context. In my view, SimpleFX could improve its market research by incorporating content from third-party providers, such as Trading Central or Autochartist. This would make the broker’s offering a lot more nuanced.

Education

SimpleFX has published 27 platform and app tutorials on its YouTube channel. It also has more than 100 written articles in its blog, though not all of these are purely educational. Finally, the broker has a pretty detailed glossary.

The Bottom Line

SimpleFX is a multi-asset derivatives broker offering over 1000 CFDs across forex, commodities, shares, indices, cryptocurrencies, and bonds.

The broker has developed its own versatile, feature-rich trading platform, which is seamlessly integrated with TradingView. It also provides trading APIs and a solid selection of market research content, making it a suitable choice for day traders and algorithmic traders. Additionally, it offers unique features like the ‘Stake&Trade’ service.

However, SimpleFX’s trading fees are higher than the industry average, and it lacks copy trading and Islamic (swap-free) accounts. Overall, I consider SimpleFX a decent financial derivatives broker, though there is room for improvement.

FAQ