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SimpleFX Review

Player Reviews
RATING: 7.8/10

Gambling Site Info

Gambling Options: Forex Coins Accepted: Bitcoin, Litecoin, Fiat

United States Players Accepted

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SimpleFX Bonuses, Offers & Codes

SimpleFX does not offer any bonuses at this time. Be sure to check back on this page in the future for new promotions at SimpleFX.

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SimpleFX Review

Overview

SimpleFX.com is a modern crypto-focused forex trading platform that appears to have had its design inspired by other Bitcoin gambling sites in the market such as Nitrogen Sports and CloudBet. This style of trading platform, along with the simplicity of the charts is a refreshing experience in a market that has typically been dominated by traditional trading brands.

SimpleFX has a strong focus on Bitcoin as a deposit and withdrawal method (the site also accepts Litecoin) but also accepts well over a dozen fiat currencies if you feel so inclined. SimpleFX’s community chat, dubbed the “Shoutbox”, is also a welcome feature in forex trading and allows traders to discuss wins, losses and potential opportunities. The Shoutbox remains active throughout the day, and serves as a good place to chill out inbetween trades.

Bonuses

There is a distinct lack of bonuses and promotions at SimpleFX. In fact, there aren’t any. This is of course disappointing for new traders, who would typically expect some type of reward for depositing their hard earned Bitcoin at a forex site.

Support

The site is built in 13 different languages, from Arabic and Chinese through to Romanian, Russian and English to name a few. The live support offered by SimpleFX is also extremely fast to respond, and should a representative not be online, there are options to contact the platform through phone, email, Skype and even post. The site also features an FAQ section which covers a large range of different questions.

Security

SimpleFX offers 2-factor authentication which is a fantastic way to add an extra layer of security to your account. Unfortunately, we could not establish whether SimpleFX is regulated by a respected government organization, which will likely be off-putting to many. SimpleFX is however, registered as a limited company under number 22361 IBC by the Registrar of International Business Companies.

Restricted countries at SimpleFX

Below is a list of countries that are not eligible to deposit at SimpleFX:

Croatia

SimpleFX not available in your country? Filter all bitcoin gambling sites by country here.

Pros and Cons of Playing at SimpleFX

  • Great customisation of charts
  • Good range of cryptocurrency pairs
  • No bonuses at SimpleFX
  • No information on platform regulation

SimpleFX Forex Review

Screenshots from SimpleFX Forex

Trading Platform

SimpleFX, as you might imagine, is a simple FX trading platform for Bitcoin users. However, more experienced traders will be pleased to know that the charts can be manipulated extensively, with some of the best additional features we’ve seen in the Bitcoin FX market (discussed further down in this review). There are also a number of cryptocurrency pairs to trade on, however for a Bitcoin-focused site, this list certainly isn’t exhaustive and the vast majority of markets are fiat ones. It is great to see that SimpleFX is one of the few FX platforms to offer NMC/USD though.

Those new to Bitcoin FX trading should be pleased with the level of support they’ll find on the SimpleFX platform, including a section for tutorials that guide you through the fundamentals of FX trading.

Charts & Tools

The name SimpleFX should not put off the more experienced trader looking for complex tools and charts. The ‘indicators’ tool for example, (denoted by the function symbol ‘ƒ’) allows users to add the currency pair’s moving average (and moving average convergence/divergence), Bollinger bands and 6 other overlays/widgets to allow better analysis and interpretation of the charts. Lines and markers can also be added to your chosen charts, and simple stop loss and take profit limits are also available for those who require it (we certainly recommend their use). Despite the level of detail that a Bitcoin FX trader can go into, there are also simple bits of functionality such as adding ‘favorites’ that make for a smooth user experience.

For those with a preference over UI, SimpleFX also allows full customization of chart colors. From candlesticks to bar charts and line graphs, each user can customize his or her display as they please.

Crypto Currency Pairs & Spreads

SimpleFX does not have a simple way of comparing spreads between currency pairs. Unlike other Bitcoin FX platforms, there is no simple way to show the spread for each currency pair. Instead, the user must click through to the currency pair’s chart or open an order to inspect it themselves.

Spreads
BTC/USD: 0.62 pips
BTC/EUR: 0.66 pips
LTC/USD: 0.0183 pips
EUR/GBP: 0.00007 pips
NMC/USD: 0.004 pips

Tradeable Cryptocurrencies
BTC
ETH
ETC
LTC
NMC

Fiat currency pairs are also available for trading.

Features

When trading on SimpleFX, a useful ‘Tip’ box is provided for beginner and intermediate Bitcoin traders who can have their trades simplified into simple potential earnings and losses. This helps to simplify a complex trade and also allows a Bitcoin trader to make decisions faster.

SimpleFX also does not have a minimum Bitcoin deposit requirement, and also offers a free demo account, so traders can familiarize themselves with the platform at zero risk. While there are spreads (from 0.1), there is no trade commission and no dealing desk, so the cost of trading forex is heavily reduced.

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