TradeSimple foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://client.tradesimple.org/register, about the company's legal and temporary regulatory information, the company's address 71-75, Shelton Street, London, Greater London, WC2H 9JQ, UNITED KINGDOM.
Tradesimple, officially known as Apollo MS Ltd, was established in 2022. The company claims to operate from its headquarters located at 71-75 Shelton Street, London, Greater London, WC2H 9JQ, United Kingdom. Tradesimple is a privately held entity, not publicly listed. It primarily serves retail clients interested in trading forex, CFDs, and cryptocurrencies.
Since its inception, Tradesimple has positioned itself as a forex and CFD broker, targeting novice and experienced traders alike. However, the company has faced numerous allegations regarding its legitimacy and operational practices. Despite its claims of being a regulated entity, various regulatory bodies have flagged it as unlicensed, raising concerns about the safety of clients' funds.
The business model of Tradesimple focuses on providing online trading services in the forex market, along with a limited range of other financial instruments. However, the lack of regulatory oversight casts doubt on the reliability of its services.
Tradesimple is currently unregulated, which poses significant risks to potential investors. The company does not hold any licenses from major regulatory authorities such as the Financial Conduct Authority (FCA) in the UK or the Ontario Securities Commission (OSC) in Canada. The absence of a valid regulatory license means that Tradesimple is not bound by the stringent requirements that govern licensed brokers, such as maintaining client funds in segregated accounts or participating in investor compensation schemes.
Furthermore, the company has failed to provide any regulatory numbers or proof of compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This lack of transparency and adherence to legal standards raises red flags for potential investors.
Tradesimple offers a limited selection of trading products, primarily focusing on:
The frequency of product updates and the introduction of new trading instruments remain unclear, as the broker does not provide transparent communication regarding its product offerings.
Tradesimple operates a web-based trading platform, which lacks the advanced features typically found in industry-standard platforms like MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The absence of these widely used platforms limits traders' access to essential trading tools and functionalities.
There is no mention of mobile application support for iOS or Android, nor is there any information regarding API access or automated trading capabilities. The execution model employed by Tradesimple is also unspecified, which is critical for traders to understand how their orders will be processed.
Tradesimple offers several account types with varying minimum deposit requirements:
The trading conditions, including spreads and commissions, are not clearly defined on the website. The leverage offered can go up to 1:500, which is significantly higher than what is typically allowed by regulated brokers, raising concerns about the potential risks involved.
Tradesimple supports deposits through unspecified payment processors, including trd apps.com and wisenex.com. The minimum deposit requirement across all account types is $250, which is relatively high compared to many regulated brokers that allow deposits as low as $100.
Withdrawal methods and their associated limitations are not adequately detailed, leading to uncertainty regarding the ease of accessing funds. The processing time for both deposits and withdrawals is also not specified, which is critical for traders to understand.
Customer support for Tradesimple is limited to email communication via support@trade-simple.org. There are no indications of live chat or telephone support, which can hinder effective communication. The service hours and language support are not clearly outlined, making it challenging for clients to receive timely assistance.
In terms of educational resources, Tradesimple does not appear to offer comprehensive training materials, webinars, or market analysis services. This lack of educational support can be a significant drawback for novice traders seeking to improve their trading skills.
Tradesimple claims to serve a broad market, primarily targeting clients in the United Kingdom, Sweden, Australia, and Canada. However, it does not accept clients from the United States or any individuals holding a U.S. passport. The broker's operation is primarily focused on regions where it has established a presence, despite the lack of regulatory approval.
In summary, while Tradesimple presents itself as a forex and CFD broker, the absence of regulation, transparency in operations, and comprehensive support raises significant concerns about its legitimacy. Potential clients should exercise caution and conduct thorough research before engaging with Tradesimple broker.
FX1119282805
Philippines
I feel quite interested in this young broker, minimum deposit acceptable, surprisingly I on 1 trading trainer available, but my friend Mike, an experienced trader, says this broker is not unregulated, and then he recommends exness to me. Alright, I will have a try.
37130
2022-12-09