Trading with SimpleFX platform can be really nice. The platform is basically their website and includes education and FAQ resources built in, as well as legal documents, personal account information and more. The platform itself follows the popular layout with large chart, assets to the left and history/open positions in the bottom. The carting tool has many kinds of indicators and oscillators one can use and its not lacking like some other proprietary platforms. In this respect, SimpleFX really did a nice job. All the assets are grouped on the side and if one wants to start analysing an asset in the chart, she has to drag it onto the chart to get the quotes. Charts for different assets are layered in tabs which are shown on the top, so the trader can easily switch between selected assets. One asset group to the left is the Favorites list where most used assets can be listed for fast use.
To become even faster, one can enable one click trading, where the trade is opened instantly following the click. This comes with certain warning, with the most obvious drawback being that the trade dialogue is is missing so the trade uses presets for position volume or leverage or stop loss. Also there is no time to change your mind once you clicked BUY or SELL order. Traders will be offered a warning about this so they can decide if they want to enable this feature or not. Other than one-click trade, one issue when placing trades, that is not a feature – but more of a bug is the platform stability. We have tried trading on SimpleFX on a Late-2015 13″ Macbook Pro on a decent broadband connection and have experienced slowdowns and freezes. Interesting thing is that the SimpleFX trading room performed best in Safari browser in our tests. Chrome immediately froze and could not load the website, while Mozilla took forever and eventually stopped responding. While mostly the platform worked, these kinds of hiccups can mess up trades since reliability of platform ensures the right price is quoted in the newly placed position. SimpleFX assured us the launch of the new web-trader by the beginning of 2018 will fix these issues.
In case the SimpleFX platform does not perform well on your system, MetaTrader4 can also be used and the broker will supply login data for it. All one needs to do is download the client, install it on the computer and login using the supplied data. SimpleFX claims they do not run a dealer desk, but it is hard for us to verify such claim. They do not charge commissions, and spreads are decent.
There are more than 60 assets and cryptocurrency CFDs and Forex currency pairs make the biggest chunk, along with indices and stocks.
Cryptocurrencies included are Litecoin, Bitcoin, BitcoinCash and Ether, against other currencies or cryptocurrencies, as below:
There are also
- 72 currency pairs
- 13 indices
- 6 commodities and metals
- 10 german stocks
- 6 Japanese stocks
- 24 US stocks