SimpleFX: customer reviews about the company’s performance in 2023
Invitation to Trade on SimpleFX
SimpleFX invites you to stop dreaming and start trading today. The company calls itself a global leader in trading, promising financial success and prosperity to its users. However, public opinion expressed on forums indicates that SimpleFX is more of a typical financial firm targeting short-term enrichment at the expense of bewildered investors.
Let’s explore who SimpleFX really is and what it offers to depositors.
SimpleFX Platform Analysis
According to the provided information, SimpleFX’s platform boasts 9 years of experience, hundreds of satisfied clients, and awards in the trading technology sector. However, doubts arise about the credibility of this data.
User reviews mention awards for “Best Trading Platform” and successful participation in international exhibitions, but the company’s history raises questions. The website domain was recently updated in June 2023, despite the company’s active existence since 1996. According to archives, SimpleFX appeared on the current site in 2021 after changing hands.
Contact information on the site is limited; support can only be reached via email, with no direct link to technical support.
The Instagram account of SimpleFX has a small following – just over 1,000 people, with posts barely receiving likes. It is likely that the company artificially inflates the number of followers to create an illusion of popularity.
SimpleFX also offers active participation in a program to attract new traders through cold calling and acquiring new clients.
Legal Documents Analysis
According to the information in the site footer, SimpleFX’s official location is St. Vincent and the Grenadines, although the regulatory body does not issue licenses for brokerage activities. The claim of registration in British Columbia also raises doubts as document scans are not provided, and registry checks indicate license inaccuracies.
Platform Offerings
SimpleFX allows trading in indices, stocks, metals, energy resources, and cryptocurrencies through the MetaTrader 4 terminal or proprietary WebTrader development. Accounts on the site have no strict entry threshold; one can start with minimal investments.
The company promises narrow spreads, protection against negative balance, fast trade execution, minimum trading step, and leverage up to 1:1000. The affiliate program offers up to 50% from the invited traders’ trades, but real reviews indicate the possibility of deception.
User Reviews
Public feedback about SimpleFX does not contain positive information. Investors who have encountered fraud complain about the inability to withdraw funds and account blocks when trying to resolve the situation.
Fraud Schemes
SimpleFX employs various fraud schemes, such as fake recommendations, controlled terminals, imposition of remote access software, and charging inflated commissions.
Attempts to uncover fraudsters are doomed to fail as they skillfully conceal their tracks.
Conclusion
SimpleFX is an experienced scammer willing to violate rules for their own benefit. Despite the neat appearance and attractive promises, behind them lies a typical financial trap operating solely for personal gain. Engaging with this company risks losing your savings, and to confirm this, one only needs to study reviews from other traders.