Review of CFD broker SimpleFX: what the trading platform is like and user reviews.

• Categories: CFD-Brokers

The SimpleFX Platform: Reliability and Convenience for Traders

The team behind the SimpleFX project assures that their trading platform is one of the most reliable and convenient for Forex and CFD market operations. While similar claims are made by other companies, the actual situation often turns out to be far from what is stated. Many services, presented as perfectly secure, in reality serve only as a tool for withdrawing funds and have no relation to actual trading. The question of SimpleFX’s positioning in this context remains open and requires further study through analysis of reviews from real clients.

Overview of General Information about SimpleFX

No information about the date of the dealing center’s opening is provided on the official SimpleFX website. Analyzing the simplefx.com domain reveals that it was registered in 1996, with the last website update in 2017. Considering that the first reviews about the company appeared relatively recently, one can assume that SimpleFX started its operations around that period. The company likely acquired this domain name to create the perception of a solid and long-lasting organization.

SimpleFX claims that their platform is used in 160 countries, with a client base exceeding 200,000 people. However, in reality, it is mainly focused on Russian-speaking traders, indicating a lack of recognition for the broker in other regions except for CIS countries. The SimpleFX official website is available only in two languages – English and Russian.

SimpleFX operates without a license. The company has not obtained official permission for its activities, even from offshore regulators, posing a real risk to traders who entrust their funds to this broker. The only official restriction is the refusal to provide services to legal entities from the USA. The lack of information about the company, the absence of accurate data on its location, contributes to the distrust towards SimpleFX.

Analysis of the CFD Broker SimpleFX Website

Upon close examination of the official SimpleFX website, it becomes evident that it is more of a “kitchen” than a professional trading platform. The site is poorly structured, information is hard to access, and the content itself is a mix of English and Russian languages with errors. The “About Us” section contains more advertising statements than actual company information. No information about vacancies is available, contradicting their claims of the possibility to join the team. The SimpleFX mobile app lacks stability and may cause delays, leading to inconsistent trades.

SimpleFX Marketing Proposition

SimpleFX offers trading in various markets with zero commissions and a 1:500 leverage. However, such conditions seem overly favorable, raising questions about the broker’s integrity. It appears that SimpleFX does not intend to execute traders’ deals in the market, and their conditions do not align with reality. Promises of easy earnings appear to be a classic scheme aimed at depleting clients’ deposits.

Reviews of SimpleFX

Reviews on the SimpleFX website and from real clients are conflicting. Public comments have a positive tone, but actual reviews point to deceit and fraud by the company. Traders complain about problems with order execution, payment delays, and account blockages. SimpleFX likely bears responsibility for making wrongful decisions to the detriment of its clients.

Conclusion

The SimpleFX review reveals that the company engages in questionable activities, lacking the trust of traders. The presence of a large number of negative reviews, the absence of a license, and the secretive nature of company information indicate that SimpleFX is not a reliable broker to work with in the market. It is recommended to seek more trustworthy partners for collaboration.