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Pros

Low minimum deposit requirement of $1, making it accessible for new traders.
Offers trading in cryptocurrencies and allows account funding in various cryptocurrencies.
Utilizes popular trading platforms like MetaTrader 4 and its proprietary SFX platform for enhanced trading experience.

Cons

Lacks regulation by reputable financial authorities, raising concerns about investor protection.
Limited customer support available only in English and lacks a multilingual support option.
No options for multiple account types or passive investment opportunities like PAMM accounts.

SimpleFX broker Accounts

SimpleFX Account Type

SimpleFX offers a single type of trading account known as the Standard Account. Here are the key features:

  • Minimum Deposit: $1
  • Maximum Leverage: Up to 1:500
  • Spread: Floating spreads starting from 0.1 pips.
  • Margin Call/Stop Out Levels: 50% / 30%
  • Minimum Trade Size: 0.01 lots
  • Commission: Commission-free trading.

    • This account type is designed to cater to both beginners and experienced traders, providing access to a wide range of financial instruments including forex, commodities, indices, and cryptocurrencies.

    SimpleFX Broker Account Opening Process

    Opening an account with SimpleFX is a straightforward process. Here are the steps:

    • Visit the Website: Go to the SimpleFX website at simplefx.com.
    • Create an Account: Click on the “Create Account” button. You can sign up using your email address, or through social media accounts like Google or Facebook.
    • Email Verification: After registration, you will receive a verification email. Click the link in the email to verify your account.
    • Deposit Funds: Once verified, you can log in and make your first deposit. SimpleFX accepts various payment methods, including cryptocurrencies and e-wallets.
    • Start Trading: After depositing funds, you can start trading on the platform.

      • The account opening process is designed to be quick and user-friendly, allowing traders to get started with minimal hassle.

      Information Source: tradersunion.com

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SimpleFX accounts can be viewed for products that can be traded accounts with a minimum deposit of by (2+) .
SimpleFX Account