I have been trading forex for six years now, which I enjoy it very much. I have also been trading cryptocurrency for two years. Talk about great timing, with the crypto boom this past year, I'm sure there are a lot of happy traders who did pretty well overall. I personally have been using the SimpleFX platform for about 2.5 - 3 years and it was the best decision I could have made for myself. Right before joining SimpleFX I was looking for a new trading platform, the one I was using wasn't cutting it for me. It didn't have a lot of necessary tools needed to trade profitably. The spreads were high, it was just lacking in many different areas. Anyway I remember coming across the platform and immediately it was very eye-appealing. The functionality was smooth on my mobile device with all the little details in the right places, i knew this was going to be a great platform.
So after conducting a little research, I immediately signed up but I didn't start using it right away. For whatever reason i was still using the old platform for another week or two before i actually moved over to SimpleFX officially. When you get used to something or set in a certain way it can be difficult adjusting but nonetheless I knew i needed a change. So once i remember about two weeks later that i signed up for the new trading platform i finally switched, after hitting my head thinking to myself, "why did I wait so long to switch, this platform is amazing". So let's dive into it and let me explain why i found this company perfect for my needs.
When I tried SimpleFX for the first time I was hooked. After being mad at myself for taking so long to switch over to the new trading platform, I realized all great features that come with this trading platform. I realized that not only is this platform perfect for me but even other traders or beginners who are just starting out in Forex trading could also use this because it's so easy.
First off, there are over 10 Different ways to deposit funds, some include cryptocurrency like bitcoin, ethereum, Litecoin, and dash. They also have options like Skrill and Neteller. Residents that are from Europe do have the option to deposit with Fiat. Residents from the United States can only deposit and withdraw using cryptocurrency due to certain regulations, but if you ask me that is just fine.
Honestly for me using cryptocurrency for depositing and withdrawals is the best option because they are so quick and easy plus all the transaction fee's are pennys. All withdrawals made with crypto are processed instantly. That means anyone can cash out and have the money within 5 - 30 minutes. That beats any institutional bank method or epay service, thats for sure.
Another great feature is the different levels of leverage that the trader can borrow, up too 500:1. Now i will even do you one better, that leverage being used, never has to be paid back if it is lost. Why you ask? Well because SimpleFX uses Negative Balance Protection for their traders, this is an automatic feature so don't worry, you won't have to look for a switch to slide over and turn it on. It is always protected no matter what. This will always prevent traders from having their balance go negative from a losing position.
Now let's say for example, a trade goes horribly wrong and ends up in the Red or negative, that trade will close with a loss but the user does not have to pay any of it back. This is a incredible safety net to have especially for traders just starting out. Without Negative Balance Protection using the same scenario, the trader would owe some serious cash and be in debt. This feature has saved my butt a few times that's for sure. So thank you SimpleFX. Seriously though, for those who trade cryptocurrency, these markets are very volatile so this feature is amazing but enough about that.
When it comes to their actual trading platform it is very user-friendly and accessible. Traders can customize their charts provided with plenty of different signals. They also feature an easy 1-touch trade button making executions lightning fast. Their spreads are some of the lowest I have seen thus far which allows maximum profits. Traders have two different options when trading desktop and mobile. They can trade with the default trading platform or they can use the Meta-Trader 4 trading platform. SimpleFX has partnered with MT4 to bring all the great tools and cool features the Meta-Trader 4 offers. When it comes to my personal preference, i use the default on desktop and Meta-Trader 4 on my mobile device because of the tools that are available on the MT4. Although, SimpleFX has released a new mobile trading app about 2 months ago and it looks great. Its vibrant colors and great functionality its a great app to trade with. You wont find all the trading tools like MT4 has but its just a matter of time as they perfect the app.
The picture below is some of the features from their mobile app.
Some other great features in there mobile trading app is the News feed and Shout Box. The shout box is something I have come to love because there is nothing better than being able to talk with other traders and talk about the latest trends in the markets or maybe you just want to bounce ideas or potential strategies that can be used. No matter what it is I recommend any trader to get familiar with the platforms chat room. It's always good to get a second opinion if your not sure about the market.
Well I have shared my two cents and I truly hope other traders out their take my advice and at least try SimpleFX. You can try it without even signing up, just head over and take it for a Test-Drive to see how the platform operates. I know everyone has their own needs to attend and maybe some things i enjoy, someone else it might not matter as much.
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