Simplefx is a forex broker site that was founded in 2014 and is based in St. vincent and Grenadines. Being a forex broker, it is able to connect traders around the globe to different trading platforms where they can execute their trade upon depositing some funds to their trading account.
REGULATION
Simplefx is licensed and regulated in St. vincent and Grenadines by IBC and therefore makes the funds of traders to be safe .
DEPOSIT AND WITHDRAWAL METHOD
Simplefx provides several ways of depositing and withdrawing funds on their platform. Some of them are neteller, skrill, fasapay, bitcoin, USDT,ethereum,litecoin, visa card and other cryptos. Deposit is instantly while withdrawal takes up to 3 days . Traders can deposit as little as $1 to their trading account and withdraw a minimum of $10 from their account.
TRADING PLATFORMS
In Simplefx platform, there is a web based trading platform. This means that traders can trade directly on the portal where they use to deposit their fund.
CATEGORY OF ACCOUNTS
In Simplefx platform, there is only standard account. This means that in standard account, the funds will be in USD while. There is no cent account being offered to traders.
This is the transaction cost that is being charged by brokers whenever a trader opens a certain position. It is the difference between the buy and sell. In simplefx, there will be a 0.9 pip charged whenever a position is being opened.
MINIMUM LOT SIZE
In forex trading, lot is the amount to be executed by a trader. 1 lot is equivalent to 100,000 units in forex trading. The minimum lot size in standard account that a trader can open is 0.01 lot.
MAXIMUM LEVERAGE
This is the borrowing ratio that gives the trader the power to open positions. The maximum leverage that a trader can use in simplefx is 1:500. That is, if the trader has $100 in their account, then he/she can be in a position of opening a position size of up to $50,000 if he chooses to use the leverage of 1:500.
OPENING A TRADING ACCOUNT
Now that you have an idea about simplefx broker, it is time to open a trading account with them. You can simply follow the link from below and open an account and make sure to upload the required documents in order for your account to be verified;
https://simplefx.com
