SimpleFX

SimpleFX is a privately-held broker providing services since 2014. A distinctive feature of the company is the ability for traders to conclude cryptocurrency transactions on the MetaTrader4 trading platform. This innovative (for 2014) proposal has allowed the company to gain popularity and favor with many users. Another factor contributing to the success was the provision of a high leverage ratio (the platform offers 500:1) and the availability of a convenient mobile application. The well-optimized software allows SimpleFX clients to trade wherever they want. Moreover, the company’s clients can earn not only on trading but also by attracting other users – the broker offers a profitable affiliate program with bonus payments.

Regulation & Investor Protection

Today, the SimpleFX platform has an excellent reputation among users and has already managed to receive some awards. For example, the “Simplicity” award for its USP, which is given for the most informative and user-friendly interface. This means that a new client does not experience problems with registering or finding the desired section, and the entry threshold is minimal (also due to the small limits for replenishment of the deposit). It is also worth noting such awards as:

• Cryptocurrency World Expo 2017, Warsaw Poland – “Best Cryptocurrency Trading Platform”
• Cryptocurrency World Expo 2018, Berlin Germany – “Best Cryptocurrency Trading Platform”
• Finance World Expo Summit 2019, Zug, Switzerland – “Best Trading App” Award for SimpleFX WebTrader
• Rankia Awards – Best Mobile App 2020

Moreover, the official site has many different language versions (English, German, Russian, Indian, etc.), so that traders from almost all countries will not experience problems with the language barrier. And in case of problems, the user can contact the support staff via e-mail or live-chat. A professional security service works around the clock (5 days a week) and is ready to help at any time.

Countries

The broker officially operates in many countries on the planet. Today, residents of more than 160 countries have the opportunity to start trading on the SimpleFX platform. You can live anywhere in the world and it is still easy to become a client of a broker. But there are some limitations. For example, the platform does not provide services to US residents. Also, certain options and possibilities may be limited in accordance with local legislation (for example, in India, Forex trading is allowed only if one currency is the local rupee). You need to pay attention to this feature when choosing the best broker.

Tradable Instruments and Tools of SimpleFX

The main feature of the site is accessibility to a large number of instruments. This approach allows clients to receive important information on time and trade with maximum efficiency. Today the broker offers clients a choice of 60 currency pairs and 15 currencies with such options as BTC, BCH, DASH, ETH, MONERO, XPR, USDT, and others. Thanks to the intuitive interface and the ability to automate trading (the platform allows you to connect trading robots), the user can conclude transactions non-stop, relying on the machine.

Also, the SimpleFX platform offers a small spread (0.1) and provides 24/7 access to trading. However, trading on platforms such as Forex, transactions in precious metals or indices depend on local exchanges, therefore, they are available only during business hours. You can trade cryptocurrencies 24/7.

Broker SimpleFX offers clients to trade using API. This method implies the transfer of the rights to conclude a transaction (but not to withdraw money) to third parties. This approach is suitable for beginners who want to entrust capital to a more experienced trader.

SimpleFX is a mobile trader, which means that it offers a mobile app for iOS and Android devices. The program has full functionality so that the client gets access to all the possibilities: multiple markets, trading ideas, a news feed, charts, and real-time market trading.

It takes a few minutes to register an account on the site. The user must provide an email address, as well as come up with a username and password (clients trading fiat currency must also go through KYC). Another feature of the platform is the ability to open multiple pairs for each currency. In addition, a demo account (where transactions are carried out considering real quotes, but with virtual money) allows you to get the experience you need with minimal risk. And access to the informational section, containing videos and analytical articles, also allows you to learn a lot of useful information.

Trading Platform

Broker SimpleFX offers access to several popular trading platforms:

SimpleFX WebTrader

A popular option for many traders. The main advantages of the platform are its lightweight and compatibility with iOS and Android mobile devices. An excellent choice for both novice traders and experienced users. It offers clients access to a large number of opportunities, including customizing charts, adding the necessary indicators, as well as additional tools for conducting market analysis.

Fix API. An additional advantage of the SimpleFX broker. This option allows beginners to transfer the rights to conclude transactions (but not withdraw money) to third parties. This is a great solution if the user wants to entrust capital to more experienced and professional traders, but also wants to minimize risks.

MetaTrader4

The fourth MetaTrader is a very popular platform today. The main advantages are an intuitive interface and high-quality functionality. Also, the user gets the opportunity to customize his parameters (stop loss, additional indicators, etc.) to make the trading process more convenient and efficient. What’s more, MT4 is compatible with iOS and Android operating systems, so you can trade from your phone or tablet.

Payment and Fees

SimpleFX offers clients many options for depositing and withdrawing funds. The most popular direction is cryptocurrencies: Bitcoin, Bitcoin Cash, DASH, Ethereum, Ethereum Classic. Fiat money is available for payments to credit cards or through electronic payment systems (Fasapay, Neteller, Skrill). A trader can post profits in a convenient currency: AUD, CAD, CHF, DKK, EUR, GBP, JPY, NOK, PLN, RUB, SEK, and USD. Moreover, there are no minimum limits for replenishment of deposits or withdrawals, so that every user can start on the path to success.

Among the new additions, the platform recently integrated payments through the Binance Smart Chain (BSC) for 10 new cryptocurrencies. Now the transaction fee using traditional Ethereum ERC20 tokens (DAI, DOT, XRP, BAND, XTZ, ONT, ADA, ATOM, YFI, EOS) has halved – from $0.5 to $0.25.

Deposit & Withdrawal

Replenishment of the deposit using fiat currencies is carried out within a few minutes. The operation of replenishing a cryptocurrency deposit takes more time (about an hour) because the Blockchain must process the information and confirm the transaction. There is no commission.

In the case of payment of profits to traders, the broker pays out the money in the same way that the replenishment took place. Money is credited to the account within 3-5 business days. Withdrawal in cryptocurrency is more profitable because there is no commission here. Payout commission on Fasapay is 1%, and on Skrill or Neteller – 3%. The platform has a minimum withdrawal limit of $10.

Accounting Opening

It’s easy to open a new account with SimpleFX broker. This option is available to all adult customers in over 160 countries. Just a few simple steps are enough. You will need to go to the site, click the button to register, and fill out the form, indicating your personal data. The new client gets access to all working instruments, the ability to replenish the deposit and conclude deals. Also remember that in order to withdraw funds, you will need to go through account verification, and the payment is possible only in the same way as the deposit.

Privacy and Security

Customer safety and fraud protection are one of the company’s priorities. SimpleFX uses SSL protocols with 256-bit dynamic code. Such programs perfectly resist hacking, so it is almost impossible for fraudsters to gain access to the personal data of a trader and his account. What’s more, the company also uses two-factor authentication to prevent unauthorized access.

The company representatives say that the security service is engaged in round-the-clock monitoring of quality work, and also quickly identifies suspicious activity and blocks unauthorized activities. Another interesting element is the use of negative balance protection. This tool limits the maximum loss from the total deposit available on the account and excludes the possibility of claims from the platform due to a negative balance.

Education

Broker SimpleFX strives to provide the most convenient and beneficial conditions for its clients. So, novice traders can open a demo account and start practicing making deals. Transactions are carried out in virtual currency according to real quotes. This approach does not bring real profit, but it allows you to gain experience and try out new strategies and choose the most effective option.

Also, the site has a section with training materials. Here you can find articles and video tutorials from professional traders, analysis of popular strategies, recommendations, and other useful information. Thanks to this, a novice trader can avoid many mistakes, optimize progress, and quickly become a professional. Because information is a real treasure in the real world.

Customer Support

The site has the right approach to solving potential problems. At the bottom of the page, there is a link to the “FAQ” section. Here are the answers to the most common questions. A user, facing a problem, can find the necessary information here using the “Search” field.

Also (if the problem is more serious or there is no answer to it in the section), customers can contact support via email ([email protected]). Here you can ask a question, attach all the necessary documents or screenshots. An alternative option for quick help is online chat. Communication with company employees is possible through the window located in the lower-left part of the screen.

The deposit method of the YaMarkets is via Bank Wire, VISA, MasterCard, AstroPay, Bitcoin, Local Bank Deposits, Local Exchangers, PayPal, PerfectMoney, etc. The headquarters of the YaMarkets is located at Suite 305, Griffith Corporate Centre, Kingstown P.O. Box 1510, Beachmont Kingstown St. Vincent and the Grenadines.

The brokerage firm offers customer support service to the investors which is helpful for the traders to solve their problems regarding trading in the market. It is one of the best online brokers in the market which provides the best services and functions to investors.

Is YaMarkets Scam: Regulations

It is the legit broker in the market regulated and sanctioned by the Vanuatu Financial Services Commission (VFSC). The investor’s money is completely secure and safe with YaMartkets because the broker will use the upgraded technology for trading.

Before starting trading with YaMarkets the traders need to deposit the initial amount of $10. After that, the brokerage firm doesn’t charge any commission on all the trading accounts except ECN. The withdrawal process of the YaMarkets is very simple; a trader only needs to submit a withdrawal request then the broker initiates a request within the working hours.

The broker offers the maximum leverage of 1:1000 to the professional investors of YaMarkets.

YaMarkets Trading Account Types

The brokerage firm offers four types of trading accounts, and each account has some advanced level of features and functions which is grateful for the investors.

Ultimate Trading Account

• To start trading with YaMarkets the minimum deposit is required $10.
• Minimum trading volume 0.01
• The broker offers a Swap-free Account.
• In the Ultimate trading account, the Spread starts from 1.8 pips.
• The broker doesn’t charge any commission while trading in the ultimate reading account.
• The maximum leverage offered by the broker is 1:500.
• The Account Currency type is USD.
• The trader has a Margin call of 70%.
• A trader has a Stop Out option of 50%.
• Instant Execution.

Standard Trading Account

• Before starting trading with YaMarkets, the minimum deposit required is $500.
• Minimum trading volume 0.01
• The broker offers a Swap-free Account.
• In the Ultimate trading account, the Spread starts from 1.5 pips.
• The broker doesn’t charge any commission while trading in the ultimate reading account.
• The maximum leverage offered by the broker is 1:500.
• The Account Currency type is USD.
• The trader has a Margin call of 70%.
• A trader has a Stop Out option of 50%.
• Instant Execution.

Royale Trading Account

• The minimum deposit is $2500 to start trading with YaMarkets.
• Minimum trading volume 0.01
• The broker offers a Swap-free Account.
• In the Ultimate trading account, the Spread starts from 1.0 pips.
• The broker doesn’t charge any commission while trading in the ultimate reading account.
• The maximum leverage offered by the broker is 1:300.
• The Account Currency type is USD.
• The trader has a Margin call of 70%.
• A trader has a Stop Out option of 50%.
• Instant Execution.

ECN Trading Account

• The minimum deposit is $5000 to start trading with YaMarkets.
• Minimum trading volume 0.10
• The broker offers a Swap-free Account.
• In the ECN trading account, the Spread starts from0.1 pips.
• The broker doesn’t charge any commission while trading in the ECN trading account.
• The maximum leverage offered by the broker is 1:200.
• The Account Currency type is USD.
• The trader has a Margin call of 70%.
• A trader has a Stop Out option of 50%.
• Instant Execution.

YaMarkets Account Opening

It is one of the best online brokers in the market. However, to start trading with YaMarkets, a trader needs to follow a few essential steps.

• In the beginning, a trader needs to apply online on the official website of Yamarket then fill the application form in which they put the necessary details such as name, age, address, country, etc.
• Then the trader gives the answers to the questionnaire, which is related to the trading plans and goals.
• It is one of the most important steps in which an investor needs to verify their trading account with the help of a government ID card because it takes some time to verify their trading account.
• In the end, deposit the initial amount of money and start trading with YaMarkets.

YaMarkets Trading Platform

YaMarkets offers two types of the trading account as MetaTrader 4 and MetaTrader 5. Every trading platform has some unique functions which are beneficial for the investors.

MetaTrader 4 Trading platform

It is the best trading platform because it is easy to handle and controlled by investors. In addition, MetaTrader 4 platform has all the features which are essential to predict the future market of the assets.

What are the main features of the MetaTrader 4 trading platform?

• The brokerage firm offers tradable assets such as forex, cryptocurrency, Indices, Metals, Indices, etc.
• The platform supports various types of languages.
• MetaTrader 4 platform has all tools and indicators which are essential to trade.
• Offers a variety of charts for trading.

MetaTrader 5 Trading platform

It is the advanced level of the trading platform in the market because if we compare both the trading platforms, then MetaTrader 5 has more variety of tools and indicators for trading.

What are the main features of the MetaTrader 5 trading platform?

• A trader can trade on a variety of CFDs assets.
• The platform supports VPS.
• It has some superior charting systems.
• A trader gets access to the market news and data.
• The broker offers educational material which is helpful to get information about the market.

YaMarkets Trading Instruments

The brokerage firms offer CFDs instruments for trading. Therefore, a trader can earn a higher profit with YaMarkets.

Forex

• Spreads from 0.0 pips.
• Access to 60+ Currency Pairs.
• 0.20s Average execution speed.
• All trading strategies enabled.
• Leverage up to 1:500

Cryptocurrency

• Invest in CFDs on 26 Cryptocurrencies.
• Trade at any time convenient for you.
• Start your trading with just 10USD.
• Invest via modern platforms.

YaMarkets Commission & Spreads

• The brokerage company doesn’t charge any commission while trading.
• Only the ECN trading account holder pays the commission on trading.
• The Spread is fluctuating within a second.
• The broker charges the inactivity fee if an investor is inactive in the market.

YaMarkets Leverage

The brokerage firms offer a maximum leverage of 1:1000 to the professional investors and 1:30 to the retail investors.

YaMarkets Deposit and Withdrawal

• A trader can deposit an unlimited amount of money into the trading account for trading.
• The broker doesn’t charge any commission while depositing the money.
• The payment option of the YaMarkets is via Bank Wire, VISA, MasterCard, AstroPay, Bitcoin, Local Bank Deposits, Local Exchangers, PayPal, PerfectMoney, Skrill, VoguePay.
• The broker charges the withdrawal fee from the traders if the trader withdraws a large amount of money.

YaMarkets Educational and Research Support

The brokerage firm offers a wide variety of educational and research material for investors. It is helpful for the investor to gain knowledge about the market and predict the future situations of the asset.

A trader understands the market properly then practices on the demo account first and selects the best trading strategy for trading which is used in the real trading account.

Here is the list of Educational and Research support:

• Calculator
• Educational Video
• Economic Calendar
• Daily Trading Signals

YaMarkets Customer Support

The broker provides customer support service for solving problems. The employees of YaMarkets have good experience to solve the investor problem. If the problem is not solved by customer support, it will be transferred to the higher executive.

Address: Suite 305, Griffith Corporate Centre, Kingstown P.O. Box 1510, Beachmont Kingstown St. Vincent and the Grenadines.

Email: [email protected]

Phone number: +357 22030234

Final Verdict

YaMarkets is authorised and approved by the Vanuatu Financial Services Commission (VFSC). The investor of this firm is giving positive feedback towards the broker. This is the only broker in the market which provides the best trading tools and indicators.

Why Trade with YaMarkets?

• VFSC regulates it.
• A trader can trade 80+ CFDs assets.
• The brokerage company offers a demo account for the investors.
• The broker provides a customer support service to traders.
• Provide a variety of tools and indicators.