At a glance
- Minimum deposit
- $0
- Platforms
- SimpleFX WebTrader
- Regulators
- FSC Mauritius, FSCA, KUNAISA
- Leverage
- 1000
Our Verdict on SimpleFX
3.4/5Overall score
Risk warning: CFDs and leveraged trading can magnify losses as well as gains. You may lose money rapidly, so trade only with funds you can afford to lose.
SimpleFX fits self-directed traders who want access to several CFD markets through a browser or mobile app and do not need a fixed minimum deposit. Its single Standard account combines floating spreads with no trading commission, while overnight financing remains a separate cost for positions held through rollover. WebTrader and the market range are its clearest practical strengths; the decisive limitation is that client protections depend on the contracting entity, with no automatic coverage under major compensation schemes for offshore clients. Traders who need copy trading or swap-free terms should look elsewhere.
| Best for | Self-directed CFD and crypto traders seeking a web or mobile platform and a range of markets. |
|---|---|
| Not ideal for | Traders who require copy trading, an Islamic account or automatic coverage by a major investor compensation scheme. |
| Biggest strength | A no-fixed-minimum Standard account with WebTrader access and multiple CFD market categories. |
| Main drawback | Client protections depend on the contracting entity, and offshore clients are not automatically covered by the named compensation schemes. |
How we reviewed it: This review assesses SimpleFX’s stated account terms, fees, legal entities, platform and instrument details. We do not present these terms as results from a personal trading or withdrawal test. See our review methodology.
What stands out
- No fixed minimum deposit for the Standard account.
- No trading commission is listed for the Standard account.
- WebTrader is available on web and mobile, with access to a broad range of CFD markets.
What to consider
- Overnight financing can apply to positions held past the daily rollover.
- No copy trading, social trading or Islamic account is listed.
- Protection depends on the contracting entity, and offshore clients are not automatically covered by UK FSCS, Cyprus ICF or US SIPC schemes.
SimpleFX at a Glance
| Feature | Broker disclosures and checked findings |
|---|---|
| Founded | 2014 |
| Regulator / licence | FSC Mauritius: 8TECH Ltd, licence GB23201604; FSCA South Africa: 8TECH ZA (Pty) Ltd, licence 53073. The contracting entity depends on the client. |
| Minimum initial deposit | No minimum deposit |
| Account types | Standard |
| Trading platforms | SimpleFX WebTrader |
| Markets | Forex, indices, commodities, stocks, bonds, cryptocurrencies and ETPs |
| Maximum leverage | Up to 1:1000 |
| Account / funding currencies | USD, EUR, GBP, BTC, ETH and USDC |
| Demo account | Yes |
Is SimpleFX Safe, Legit and Regulated?
2.9/5Area score
Overall review score: 3.4
SimpleFX operates through entities with different regulatory arrangements. The Mauritius company named for the service is 8TECH Ltd, listed with the FSC Mauritius under licence GB23201604. For South African clients, 8TECH ZA (Pty) Ltd is listed with the FSCA under licence 53073. The legal entity in the account agreement determines the applicable protections and complaints route.
Regulation and Client Protections
| Regulatory question | Documented finding and limitations |
|---|---|
| Contracting legal entities | 8TECH Ltd (International / Mauritius entity (subject to exclusions)); 8TECH ZA (Pty) Ltd (South Africa (or clients routed to SA entity)) |
| Regulators / jurisdictions | FSC (Mauritius) (International / Mauritius entity (subject to exclusions)); FSCA (South Africa (or clients routed to SA entity)) |
| Licence / registration | FSC (Mauritius): GB23201604; FSCA: 53073 |
| Client-money arrangements | SimpleFX reports that client funds are segregated; the specific entity-level arrangement is set out in the legal documents of the account-holding entity; an identical arrangement across all group entities is not established. |
| Negative balance protection | SimpleFX reports negative balance protection; the precise entity and account conditions are subject to the account terms; SimpleFX states it automatically closes transactions to help prevent a negative account balance. |
| Investor compensation | Offshore clients are not automatically covered by UK FSCS, Cyprus ICF or US SIPC schemes. Applicable protection depends on the contracting entity and jurisdiction. |
Segregation and negative balance protection are stated safeguards, not a guarantee against trading losses. The precise entity-level conditions are not specified here, so use the account agreement to identify the relevant arrangements and complaints process.
SimpleFX Fees, Spreads and Commissions
3.8/5Area score
Overall review score: 3.4
The Standard account combines floating spreads with no trading commission, so spread is the stated cost when opening a trade. The instrument and holding period still matter: overnight financing may apply, while withdrawal charges arise only in specified circumstances.
Spreads, Commissions and Total Trading Costs
The account description identifies floating FX and CFD spreads with no commission. The listed EUR/USD average spread is 0.7 pips; treat this as a stated average rather than a guaranteed spread. Spreads can vary, and overnight financing is a separate potential cost.
Other Trading and Non-Trading Fees
| Fee | Amount / trigger | Conditions |
|---|---|---|
| Overnight financing, swap or margin interest | Holding certain positions beyond the broker’s daily rollover can bring an overnight charge or credit. The rate is not fixed: market, size, trade direction, interest rates and duration all matter. | Overnight funding is linked to the broker’s daily rollover time. The instrument, size, direction, interest rates and number of nights determine the amount. |
| Currency conversion | No | No separate broker currency-conversion fee is listed; exchange-rate costs may still apply |
| Inactivity | No | Not applicable (no inactivity fee is listed) |
| Deposits / withdrawals | Deposit: No; Withdrawal: Inactive accounts may have an additional withdrawal fee of 3%, subject to a $25 minimum, according to the payment page. Payment-provider and network costs may also arise. | Deposit: No general broker deposit fee is listed (method-specific or third-party charges may apply); Withdrawal: The payment page states an additional 3% fee (minimum $25) can be added to withdrawals from inactive accounts; payment-method/network charges can also apply. |
For positions closed before rollover, spread is the main stated trading cost; holding beyond rollover adds funding that may be a charge or credit. The inactive-account withdrawal fee is an operational cost rather than a trading charge, and provider or network costs may sit outside the broker’s fees.
Which SimpleFX Account Should You Choose?
3.2/5Area score
Overall review score: 3.4
Standard is SimpleFX’s only listed live account, so there is no separate account tier to choose for different trading volumes. It has floating spreads and no trading commission, with no fixed minimum deposit; a demo account is also available. Overnight financing applies, and no Islamic account is listed.
SimpleFX Trading Platforms
4.1/5Area score
Overall review score: 3.4
WebTrader supports a browser- or mobile-based workflow for placing trades and viewing charts without installing a desktop terminal. API trading is also listed, but it should not be confused with automation built into WebTrader: the platform is described as mainly for manual trading, and built-in bot development has not been confirmed.
Desktop, Web and Trading Platforms
| Platform | Availability | Evidence-backed strength or limitation |
|---|---|---|
| SimpleFX WebTrader | Web, Mobile | You can place trades and check charts in a browser without installing a desktop terminal. This is mainly for manual trading; built-in bot development hasn't been confirmed. |
Markets and Instruments Available
3.5/5Area score
Overall review score: 3.4
| Asset class | Products offered | Restriction |
|---|---|---|
| Forex | Leveraged FX (CFD / rolling spot); 50 | Trading exotic or less liquid pairs can cost more; holding positions overnight may also incur swap or financing charges. |
| Indices | Index CFDs; 13 | Index CFDs follow index prices without giving traders ownership of the underlying shares. Holding costs, rollovers and trading hours depend on the contract. |
| Commodities | Commodity CFDs; 14 | Commodity CFDs track prices without requiring physical delivery. Trading hours vary by contract, and some contracts expire or need to be rolled over. Financing charges may also apply. |
| Stocks | Stock CFDs; 700 | At least 700 stock CFDs track share-price movements without giving you direct ownership of the stocks. |
| Bonds | Bond / rate CFDs; 3 | Bond-linked derivatives follow prices rather than providing bond ownership or coupon payments. Funding costs and margin requirements vary by contract. |
| Crypto | Crypto CFDs; 100 | Crypto derivatives track prices without giving traders coins to hold in a wallet. Availability depends on the region and account type. UK retail clients cannot trade these derivatives. |
| ETFs | ETF CFDs; Conflicting availability across supplied files; exact ETF count not verified | Trading an ETF CFD does not mean owning units in the fund. The ETFs available and their margin requirements depend on the account and region. The exact number and selection of ETFs have not been fully verified and may vary by account. |
The key distinction is between price exposure and ownership: the listed stock, bond, ETF and crypto CFDs track market prices but do not provide the underlying shares, bonds, fund units or coins. The number and selection of ETF CFDs remain unverified and may vary by account; crypto CFD access is region-dependent, and UK retail clients cannot trade these derivatives.
Execution, Trading Tools and Research
3.3/5Area score
Overall review score: 3.4
The named research resources are an economic calendar and Market Insights; the education focuses on introductory guides and platform explanations rather than an extensive, structured academy. SimpleFX says news trading is allowed, but order fills can slip as part of normal live-market execution, so this does not promise a particular fill price or speed. API trading is listed, while copy trading and social trading are not offered.
SimpleFX Deposits, Withdrawals and Account Opening
3.8/5Area score
Overall review score: 3.4
Identity verification (KYC) is required. Although the Standard account has no fixed minimum deposit, method-specific minimums and processing times can affect how much you can send and how quickly funds are available.
Account Opening and Identity Verification
Identity verification is required. The precise documents, approval steps and eligibility by country are Verify your email and complete KYC. For initial fiat-currency funding, provide a passport or national ID and a utility bill or bank statement dated within the previous three months; rules differ by jurisdiction.
Deposit and Withdrawal Methods
| Method | Deposit / withdrawal availability | Broker fee | Processing time |
|---|---|---|---|
| Bank transfer | Deposits are available; the minimum amount is not specified. Withdrawals are available. Minimum requirement: USD 100 (bank wire); EUR 10 (SEPA). | Deposit broker fees are not specified. Withdrawal broker fees are not specified. | Deposit processing time: up to 1 hour. Withdrawal processing time: 3–5 business days. |
| E-wallets | Deposits are available; the minimum amount is not specified. Withdrawals are available. Minimum requirement: USD 5 (Skrill / Neteller). | Deposit broker fees are not specified. Withdrawal broker fees are not specified. | Deposit processing time: up to 1 hour. Withdrawal processing time: up to 24 hours. |
| Crypto | Deposits are available; the minimum amount is not specified. Withdrawals through this method are not confirmed. | Deposit broker fees are not specified. Withdrawal fee information has not been confirmed. | Deposit processing time: up to 1 hour. Withdrawal processing time has not been confirmed. |
| Local / QR payments | Deposits through this method are not confirmed. Withdrawals are available. Minimum requirement: USD 15 (Ozow, South Africa). | Deposit fee information is not available. Withdrawal broker fees are not specified. | Deposit processing time is not available. Withdrawal processing time: up to 24 hours. |
Customer Support
Support is listed through live chat, email and a Help Center, with 24/5 support hours. The listed support languages are English, Spanish and Portuguese. No support interaction has been independently tested for this review.
Who Should Choose SimpleFX?
The main decision is whether a single Standard account and a self-directed CFD workflow meet your needs. SimpleFX does not list copy or social trading, an Islamic account, or direct ownership through its CFD instruments, so those requirements rule it out regardless of the platform.
| Profile | Fit | Decisive reason |
|---|---|---|
| Self-directed trader seeking multi-market CFDs | Good, subject to jurisdiction | Markets include forex, indices, commodities, stocks, bonds and crypto CFDs through one Standard account. |
| Trader who wants to copy other investors | Poor | SimpleFX does not offer copy trading or social trading. |
| Trader seeking swap-free terms | Poor | No Islamic account is listed, and overnight financing applies. |
SimpleFX vs Alternatives
BDSwiss1:2000Maximum leverageDetailed Review
Capitalcore- No overnight swap fee
ActivTradesForex Pairs, Indices, Commodities, Stocks, ETFs, BondsDetailed Review
Charles Schwab (formerly TD Ameritrade)SEC, FINRA, SIPC, CFTCDetailed Review
If direct ownership is central to your strategy, the listed CFD range is not a substitute for holding the underlying assets.
FAQs
Which regulator oversees SimpleFX?
The named Mauritius entity, 8TECH Ltd, is listed with the FSC Mauritius under licence GB23201604. The South African entity, 8TECH ZA (Pty) Ltd, is listed with the FSCA under licence 53073. The applicable company depends on the client’s account agreement.
What account types does SimpleFX offer?
SimpleFX lists a Standard account with floating spreads and no trading commission. A demo account is also available, and the live account has no fixed minimum deposit.
Does SimpleFX charge trading commissions or overnight fees?
The Standard account is described as commission-free, with floating spreads. Positions held past the daily rollover may incur an overnight charge or receive a credit; the amount varies by instrument and trade conditions.
Which platform can I use with SimpleFX?
SimpleFX lists its WebTrader, available on web and mobile. API trading is also listed, but the WebTrader is described as mainly for manual trading.
What markets can I trade with SimpleFX?
Listed markets include forex, indices, commodities, stocks, bonds, cryptocurrencies and ETPs. The instruments include CFDs, which track prices rather than providing ownership of the underlying assets. Crypto CFD access is region-dependent, and UK retail clients cannot trade these derivatives.
Does SimpleFX have a minimum deposit?
The Standard account has no fixed minimum deposit. Individual payment methods may have their own minimum requirements.
What withdrawal fee might apply?
The payment terms describe an additional 3% fee, with a $25 minimum, for withdrawals from inactive accounts. Payment-provider or network costs may also apply.