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In that sense, you can trade Bitcoin, but you won’t actually take possession of the coin itself. The site ensures to offer everything — from award-winning trading platform experience to zero commission policies to instant payouts — all at one place. The broker features a total of 60 currency pairs, alongside instruments from indices, commodities and precious metals market. Among the said currency pairs, there are 15 base currencies, which also features Bitcoin, as well its closest counterpart Litecoin.

SimpleFX - A Foreign Exchange Brokerage Review

The Web interface is easy to use and supports market, limit, stop and trailing stop orders. Many different user-friendly ways to initiating an order, such as clicking on a currency pair, are supported.

Scam Broker

If the remaining margin is less than 50% of that which was required you will get these margin calls. In order to give you an idea of the amount of leverage that you could encounter, here are some indicative margin levels and leverage numbers. When it comes to cryptocurrencies, SimpleFX will not charge any fees. However, there may be a miner or “network” fee that you will have to pay. This is not something to worry about though as it is really quite minimal.

This is known to be one of the most popular trading apps currently listed on the market. It is not listed in the iTunes store but is available on Google Play. We decided to take a look into the ratings to get an idea of what traders were saying about it. This includes such features as the shoutbox, order management, account administration gann square of nine etc. It also has one touch ordering which allows you to place your orders in an instant. The only thing that the app lacks is the same charting features as you have with the web platform. You can also split the panel into a number of different charts if you would like to observe more than one market at a time.

SimpleFX additionally provides the ever-popular MT4 trading platform as an alternative, along with all the usual integrations and tools MT4 traders expect. SimpleFX supports several different order types on either platform, including limit, stop and trailing stop orders. Various charting tools are available, and it is possible to open several charts at once, to combine tools and indicators.

SimpleFX - A Foreign Exchange Brokerage Review

At the beginning I started an demo account to make sure that everything is fine, After this I checked the spreads value and I focus my time on crypto. And it’s working great for me on SimpleFX 24/7 cryptomarket, live chat, great support, Trading Ideas, shoutbox and blog for inspirations.

Forex Broker Swaps Comparison

This means that they are able to prevent any unauthorised sign-ins. Well it means that they keep the bulk of the cryptocurrency in an offline wallet that is away from any threats by hackers. They cannot access the funds as they are not connected to the internet.

SimpleFX - A Foreign Exchange Brokerage Review

Card funding functionality would be the most useful for these traders. Secondly, we would have liked to have seen more asset coverage for shares, commodities and cryptocurrencies. The latter is particularly important – crypto traders want a lot of options these days. Not only are they doing this with their platforms but they also want to give their traders the right training to be able to handle the tools that they provide. Then, to the right of the platform you have the news & information panel. Here you can get the latest market news straight from the SimpleFX blog.

Compare Top Forex Bitcoin Brokers In 2020

Given that most accounts are funded with cryptocurrencies, SimpleFX needs to have robust coin management procedures in place. The main benefit of segregated accounts it that if the broker was ever in financial difficulty, they would not touch the client’s funds as they are held in a separate account. This is no doubt one of the most important questions for any trader. The safety of the broker and hence their funds are top of our list when looking at brokers. Focused on a global audience, the site and platform has been translated into over 18 different languages. Although they take traders from all over the world, there are some regions they do not accept including the United States.

SimpleFX - A Foreign Exchange Brokerage Review

It also pays off in the long run to become proficient on the MT4 program. So, if ever you wanted to move away from SimpleFX, you can easily adapt to a new broker offering. The other platform that is on offer at SimpleFX is their MT4 platform. For those who do not know, the MT4 is one of the most advanced third-party trading platforms that is developed by MetaQuotes. And, speaking of other traders, you have something called the “shoutbox”.

Simplefx Referral Program

We’ve previously covered some of the best bitcoin brokers on the market and we’d like to build up on that by providing you with more information about Bitcoin forex brokers. 1broker does and it is cheaper, 100% targeted Retail foreign exchange trading towards bitcoin holders, and entirely anonymous. For US crypto instrument trading, you can try out SimpleFX was a really great product for crypto CFDs, and then the crypto spreads widened.

It refers to the difference between the buying and the selling price. Simplefx has some pretty attractively priced mainstream instruments, but they don’tr really seem to want your bitcoin CFD trading business. You live in the US and want to trade mainstream CFDs with your bitcoin. After all has been configured, simply click on the buy or sell button, and the order will be placed. Open orders are displayed at the bottom of the screen, conveniently displaying p/l in your base currency and in points, as well as the swap amount owed/due.

  • The forex market doesn’t have a directional trading restriction.
  • After all has been configured, simply click on the buy or sell button, and the order will be placed.
  • That’s especially convenient for traders that happen to live outside the standard trading time zones.
  • Established at 2014, registered at St. Vincent and the Grenadines.
  • Brokers, offering crypto currency trading platform, basically charge an amount as exchange commission fee.
  • Proper futures exchanges are cheaper, spreads are narrower, and pricing indexes are done transparently.

The demo account comes with imaginary USD and BTC balances that you can use to make demo trades risk-free and explore all the markets offered by SimpleFX. One of the things that first struck our review was how streamlined and intuitive the SimpleFX platform is. Whilst there are plenty of trading tools on offer, the simplicity of the interface suggests that SimpleFX is designed to appeal to the more inexperienced trader, as well as the seasoned pro. The trading platform also offers plenty of options for customisation – users can split the panel into different charts and there is also the option to switch between a dark and light theme. Formed in 2014, SimpleFX is an established exchange that offers an intuitive and streamlined Forex and cryptocurrency trading environment. SimpleFX is an innovative platform that offers wide range of financial instruments to trade, including currency pairs, various CFDs, and cryptocurrencies.

List is live since 2013 and had over active users at ATH of bitcoin. If you’re a SimpleFX user, you can earn some extra income by inviting your friends to the platform. If they also like SimpleFX and use it for trading, you’ll get a portion of the revenues they generate for SimpleFX as they trade on the platform. The revenue share that you can get from affiliates on SimpleFX ranges from 5% to 25%, depending on the tier. If a user you referred then goes ahead and invites another user, you will also get 5% of the revenue generated by that second user as well. SimpleFX seeks to simplify the Forex Trading by offering two simple types of accounts. Right when you go to their website, it opens right up into a daily chart of BTC/USD.

Best Bitcoin Forex Brokers

A forex Bitcoin broker is the same company but it would also have to allow you to trade Bitcoins. A wide range of the forex brokers have already adopted cryptocurrency trading and offer their users access to the market. Also, they are even traded publicly, being the UK’s biggest retail Forex broker. They also offer CFD trading, spread betting, options, and Forex right along with crypto currency. They also use the Metatrader 4 platform, as well as their own proprietary IG Trading platform, which is the web-based basic platform.

You can sign up for an account on SimpleFX using various methods, including your social network account or even with an email address. One of the most exciting things about SimpleFX is that you can deposit in Bitcoins without sending verification documents. After clicking on the “Deposit funds” button, we’ll be directed to another box where we can select our payment type. In this example, the country chosen is the UK, but your options vary greatly depending on where you are. Select a country and option of your choosing to see details then select the “Deposit” button. Unfortunately, for the times a representative is not available, your only option is to leave a name, email address, and message for the SimpleFX team and they’ll get back with you when you can. There is no phone number available on the website for support, though a support email is listed.

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