Frequently Asked Questions

There is no minimum deposit to open an account.

Quotes on demo accounts are the same as on real trading accounts.

Clients can create up to 4 Live and Demo accounts for each currency in each jurisdiction.

As a part of account creation process we require your email address to be verified.

SimpleFX is a cutting-edge online trading app. Invest your fiat money or crypto in Forex, cryptocurrencies, indices, precious metals, and commodities. The best experience guaranteed!

SimpleFX is providing brokerage services for thousands of clients around the world. All information regarding the Terms and Conditions as well as our AML policy and refund policy are available on the SimpleFX Legal Documents page. We have been operating since 8th October 2014. SimpleFX Group consists of the following entities: 8TECH LTD authorized and supervised by the Financial Services Commission in Mauritius licence number GB23201604. Office Address: 18 Bank Street Ground Floor, Silver Bank Tower Cybercity, Ebene, Mauritius. 8TECH ZA (PTY) LTD a Crypto Assets Service Provider and FSP with License No 53073 Authorized by the Financial Sector Conduct Authority (FSCA), Office address: 4 Haven Lane Malvern Queensburgh Durban Kwa-Zulu Natal 4093, South Africa. 8TECH SVG LTD with registration number 22361 BC 2014 with registered address at Beachmont Business Centre, Suite 404, Kingstown VC0100, Saint Vincent and the Grenadines.

We are an STP broker, which means that there is no dealing desk.

No. The trading conditions are the same for DEMO accounts and LIVE accounts. As a result, you would still get the same amount of profit or loss.

Either the market is closed for a given symbol and the order can not be closed outside a trading session, or please try to clear your web browser cache memory by pressing simultaneously the CTRL+SHIFT+R key combination on your keyboard.

Yes. Please go to the Help Center -> Video tutorials in the SimpleFX platform. You can also access the tutorials here.

Margin trading allows you to profit from the rising and falling prices of any asset. You will make a profit if you open a buy order and close the transaction when the price moves up. You will make a profit if you open a sell order and close it when the price moves down. In conclusion, you can earn on every price movement, up and down, which is not always possible if we take into consideration for example stock exchanges.

We consider an account inactive only if there was no trading activity on it, so there were no trades executed. If you open at least one trade, the account will be considered active, even if there is nothing going on there for a longer time.

The complete list of countries is available on the "Legal documents" subpage in the "Terms of use and customer agreement" file in section 1.7. You can read this document here.

Yes. You can display all account values in any currency that is suitable for you. Please go to Settings -> Trading platform -> Preview currency.

Increase it to maximum available value. To do this, please go to Settings -> Trading platform -> Cryptocurrency precision.

We never initiate phone calls to offer our services or to process withdrawals. If you received such a call please report it immediately to support@simplefx.com. We also recommend reading more about Cybersecurity awareness on our dedicated website.

You can terminate an agreement at any time by going to App → Profile → Delete account. To find out what kind of data would be permanently deleted and what we are obligated to store by law and regulatory bodies, please check our Privacy Policy.

The amount of your profit depends on the efficiency of your trading strategy, on how well you will learn to predict the interest rates changes and to a small extent on the amount of your deposit which allows you to sustain unfavorable situations during market movements.

Forex is used for trading currency pairs. Common currency pairs are the Euro/US Dollar, US Dollar/Japanese Yen, Great British Pound/US Dollar, and US Dollar/Canadian Dollar. You buy one currency and automatically sell another.

Click “Register”, confirm your email, and you will receive your login details. Then in the case of both crypto currency accounts and hard currency accounts you have to go through the verification process before starting trading.

You only need a computer with internet connection and a free demo account or a funded live account with SimpleFX to start. However, you should be equipped with proper Forex education and tools to minimize risks in the Forex market.

The Forex market is called an 'Interbank' market due to the fact that historically it has been dominated by banks, including Central Banks, commercial banks, and investment banks. However, the percentage of other market participants is rapidly growing and now the list includes large multinational corporations, global money managers, registered dealers, international money brokers, futures and options traders, and individual investors.

Forex trading is not centralized on an exchange, as is the case with the stock and futures markets. The Forex market is considered an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network.

Forex, also known as foreign exchange or FX, is the simultaneous buying of one currency while selling another. The forex market is available 24 hours a day, five days a week and it’s one of the largest, most liquid financial markets in the world. Just to compare, the New York Stock Exchange makes about $169 billion a day in volume and the Forex Market makes over $5 trillion a day in volume.

SimpleFX sends emails with monthly and daily statements, and these documents may be used to account for taxes. We do not send any documents or statements for our traders to tax offices. It is your obligation to calculate taxes based on your account statements and your local law.

To provide ease to our traders, we secure trading accounts with Negative Balance Protection. It is a feature that automatically closes your transactions to protect your account before reaching negative balance.

We will disable 2FA for your account, but first, we need to confirm your identity. Please send us a screenshot from your personal wallet, showing its address or transaction history. Wallet address must be the one used for deposit or withdrawal made to/from SimpleFX in the past. Transaction history must show at least one transaction made to/from SimpleFX in the past, including TX of a transaction.

If your account is verified, you can send us (using the email that you used to register your account) a new proof of identity, which is different than the one used for initial account verification.

After sending us the document or screenshot, as soon as we confirm that you are the true owner of the account, we will disable 2FA.

If you want to re-activate your demo account, please send a request via email to: support@simplefx.com or talk to our agent on LiveChat.

This table clearly outlines the differences between the two jurisdictions in terms of deposit methods, leverage, trading assets, and account currencies on SimpleFX.

Aspect	Saint Vincent and the Grenadines Jurisdiction	Republic of Mauritius Jurisdiction
Deposit methods	Various cryptocurrency and fiat deposit methods (including Skrill, Netteller and more)	Bank transfer
Account currencies	Various cryptocurrency and fiat account currencies	EUR and USD
Trading assets	All available assets	All available assets
Leverage	Up to x1000	Up to x100

Yes, the KYC process is required. It's essential for ensuring the safety and integrity of our platform by verifying the identities of our clients, which helps prevent financial fraud and maintain compliance with regulatory standards.

Wire transfer withdrawals can take 3-5 working days. Withdrawals via electronic payment systems, bank cards and crypto-currencies are processed within 24 hours. Note that withdrawal requests made during weekends will be processed on Monday.

Yes, money is debited from your trading account immediately. You can trade with the rest of your funds.

If you deposited using several payment systems and earned a profit/made a loss, you can withdraw funds with the payment system used for the largest deposit. Funds deposited via a wire transfer or a local deposit must be withdrawn using the bank account.

Yes, you may use the Internal Transfer option. The money will be transferred immediately. There is no fee for transfers between accounts with same currency.

Yes, it is the only way to withdraw funds which were deposited via credit card.

In this case you will not be able to deposit or withdraw any funds using this credit card.

Payments using third party`s credit card are forbidden! In a case of this kind of payment amount transferred will be reduced by charge back fees and will be returned to credit card holder. Additionally there will be no possibility to make subsequent payments using this card in a future.

There is no time limitation for delivering required documents. However if we do not receive these documents we may block the possibility to deposit using this credit card in a future.

Yes. You can open an account in 18 different hard currencies!

For on-chain transfers, we require 1 confirmation from the Bitcoin network to process a BTC deposit. The confirmation time is independent of us and usually, the funds arrive within 1–30 minutes. However, a deposit may be delayed if the transaction fee is low or the network is overload.

You can send your BTC to and from the SimpleFX account instantly for free using the Lightning Network. Here’s a short guide.

To ensure the security of our Traders’ accounts, SimpleFX may take up to 24 hours to verify and process a cryptocurrency withdrawal request.

It is impossible to exchange Bitcoin or other cryptocurrencies to any hard currencies through our website. However, you may trade all instruments in our offer using your crypto account.

Unfortunately, conversion to Tether is not possible.

There is no minimum deposit required to open an account. You may transfer as many funds as you want. However, it is good to check the required margin of the instruments. You may check it in our Trade Calculator. Here is a quick video tutorial.

Withdrawals are processed 24/7 in accordance with the rules presented here. The withdrawal and deposit methods, as well as the currency, must be the same. You may withdraw the amount equal to your account balance minus the amount used to fulfill margin requirements for open positions. The withdrawal time presented by SimpleFX does not take into consideration time delays caused by our payment processors to complete the withdrawal process.

All deposits are free of any charge from SimpleFX. Hard currency deposits are instant, however, some slight delays may be caused by our payment processor to complete the deposit process. The time needed to complete a cryptocurrency deposit depends on the crypto network efficiency at that time.

Yes, you can, given that at the moment of payment, your free margin exceeds the amount specified in the withdrawal instruction, including all payment charges. If you do not have sufficient free margin in your trading account, the system will not accept your request and you will need to lower the amount.

To proceed with your initial fiat currency deposit, you will need to verify your identity and residential address. For identity verification, please submit a valid document that includes your name and date of birth, such as a passport or a national identity card. For verifying your residence, a recent document (no older than three months), such as a bank statement or a utility bill (telephone, water, or electricity), is required to confirm your current address.

A withdrawal fee is the fee you pay when you make a withdrawal. Check the SimpleFX withdrawal fees here.

SimpleFX does not charge their clients for deposits. If the deposit received on your trading account is smaller than the actual deposit you initiated, your bank may have charged some additional fees for the wire transfer. Please contact your bank to find out more about intermediary banks.

If you deposit or withdraw USD via Skrill or Neteller, the fee conversion rate is 1:1. The conversion rate for other currencies is the same as what we offer for trading at the time the withdrawal request was submitted.

The conversion rate for account currency exchange is the same as the rate we offer for trading at the time of submitting a withdrawal request.

Due to AML regulations, we do not accept deposits and withdrawals made by third parties. Your deposit can only be made from your own account/card, and the withdrawal has to go back to the source where the deposit was made.

It is not possible.

Unfortunately, there is a chance that your payment was performed via smart contract, which means it cannot be accepted by SimpleFX. As a rule, we do not support smart contract payments due to security reasons. However, retrieving the funds sent via smart contract will be charged with 1% transaction fee (minimum 10$). This is clearly stated on the SimpleFX website in the Ethereum deposit section. Other possible reasons are that the (1) network is busy or that (2) the gas limit for a transfer was set too low.

Gas is a transaction fee that you can set up in your wallet while making a transfer. SimpleFX requires a minimum of 32,000 gas for all transfers.

Please check the SPAM folder of your mailbox. If the email is still not there, please remove the wallet address from the list and add it again.

Your friends need to place a trade for you to get your affiliate revenue. You earn up to 50% of the trading spread generated from directly referred friends. Additionally, you get 5% of your friends’ revenue share, which they earn from the traders they have referred directly.

Due to SimpleFX’s Privacy Protection Policy, we do not share affiliates’ personal details or contact information. They will be visible in encrypted form in your Affiliate Panel.

Your friends have 24 hours to confirm the verification email sent to them by SimpleFX.

You can use any payment method available for your country residence. Check the list of payment methods for each country here.

Decision to choose your referral is final. Once chosen, referrals cannot be modified, since it would harm our affiliation network, which helps to introduce new clients to SimpleFX.

Your affiliate payout was most likely already sent to your virtual wallet. Now you can transfer it to one of your trading accounts to use it for trading or to withdraw it. To do that, please go to your Profile ⇾ Affiliate ⇾ Payout.

• The basic tier has a minimum revenue of 10% as a turnover commission of up to $5 for the previous 30 days.
• The silver tier has a minimum revenue of 15% as a turnover commission between $5 and $500 for the previous 30 days.
• The gold tier has a minimum revenue of 20% as a turnover commission between $500 and $ 5,000 for the previous 30 days.
• The platinum tier has a minimum revenue of 30% as a turnover commission between $5,000 and $15,000 for the previous 30 days.
• The diamond tier has a minimum revenue of 50% as a turnover commission over $15,000 for the previous 30 days.

Opened orders do not have expiration nor settlement date. Unexecuted pending order expires after 180 calendar days beginning the date that the order was placed.

SimpleFX offers trading via mobile devices. Our web platform is fully adjustable to any software you are using. Mobile iOS app and Android app are available.

Charts of currency pairs displayed at SimpleFX date even a few years back. Please click on “W1” on the platform.

Yes, most of our trading instruments are quoted in FIAT currency, like USD, therefore their required margin is specified in USD. A change of BTCUSD exchange rate may influence the margin level on your account. Also, since cryptocurrency markets are open 24/7, your account’s equity, margin level or profit/loss on open positions may be changing constantly, even if the market of your traded assets is closed at the time.

The quoted currency of the instrument on which you have an open position is USD. Therefore, the point value is calculated in USD, and then recalculated to BTC to show profit/loss on your BTC account. Since BTC price jumped significantly, the profit/loss in BTC could also be affected. For example, for a 100 lot size position on TSLA.US stock, 1 point is worth 1 USD, which would be 0.004 BTC when BTC is worth 4000 USD, but 0.005 BTC when BTC is worth 5000 USD.

The level of liquidity is usually much lower during market opening. Lower liquidity can cause higher market volatility. As a result, spreads are wider.

Spread is applied once during the opening of an order.

The most common reason for prices not updating is that the market is closed due to standard trading hours. Market can also be closed due to the holiday period. There may also be an issue with base exchanges (such as Binance, NASDAQ, CME, and EUREX). However, if you are certain that there is an issue with our system, do not hesitate to contact SimpleFX Support via email or Live Support immediately.

Yes. SimpleFX pays out the dividend equivalent if you are trading on stock CFDs. The dividend will be added to your equity for BUY order. If you have a SELL order, the dividend will be subtracted from your account equity. The day of ‘ex-date’ is each listed company decision. For your convenience, we announce the upcoming dividends on our blog at the end of every week.

If you assume that price will go up, you may open a long (buy) order. If you think that the price will go down, you may open a short (sell) order.

Yes. You can partially close a position using different methods. Please check this short video tutorial.

Sometimes, you can see on the chart that the price did not reach your stop loss level or take profit level, but the orders were executed. The chart is drawn by bid price. For closing a buy order, you should look at the bid price. For closing a sell order, you should look at the ask price.

Your equity fell below 80% of your Margin Level. In order to prevent you from stop out (automatic order closure, explained below), you should make an additional deposit.

When you see a comment near your closed order “so/a,” it means that your margin level reached 30%, stop out was activated, and your trade was automatically closed to prevent you from further losses.

If you hold a position overnight, you may be charged a swap fee, depending on the market that you trade. The swap charge is essentially the cost of rolling the transaction from one day to the next and it is subtracted from your account at 00:00 UTC.

SWAP points are presented in the SimpleFX Terms and Conditions and under “Symbol information” section in our trading app.

FORMULA:
price*size of order*swap rate=swap value in quote currency

size of order → lot
swap rate → check Terms & Conditions
quote currency → second currency in a pair e.g. EURUSD

Example:
1 lot order (long) on BTCUSD: 43068 (current price)*1(order size)*-0.0548%(swap rate)=-23.59 USD(quote currency)

Symbols have different opening and closing times. You may check the closing time of a particular symbol by clicking on the symbol information. Additionally, you may visit the SimpleFX Terms and Conditions.

SimpleFX offers floating spreads, which are obtained from top level liquidity providers. Spreads during the night sessions can be significantly higher than the standard spreads value during the day. Moreover, during important macroeconomic data releases, spreads can be wider than usual. With changing spreads, we offer better trading conditions during American and European trading sessions.

The prices offered at SimpleFX come from the most liquid exchanges.

The required margin is calculated with this formula:
Size of order*contract size*current exchange rate*margin%*leverage rate=required margin in quote currency
leverage rate=100/account leverage
Other data can be found in the SimpleFX Terms and Conditions.

Formula is: (order size*contract size*tick size)=1 pip in quote currency.
For BTCUSD order of 0.01 size, 1 pip is worth: 0.01*100*0.01=$0.01.
For BTCUSD order of 0.1 size, 1 pip is worth: 0.1*100*0.01=$0.1

The order will be executed on the first price available when the market opens. If an order has a preset Stop Loss/Take Profit levels, and the order activation price and Stop Loss/Take Profit are both within the gap, the order will not be opened.

Yes, we take great precautions to ensure security of our system and we constantly monitor our network for any suspicious activities. However, we can not provide security for bitcoins stored on users' computers, so it is important to take additional steps to ensure that your bitcoin wallet remains protected from users other than yourself.

Yes. You can deposit fiat currencies and trade several CFDs on cryptocurrencies, including BTCUSD, ETHUSD, LINKUSD, and LTCUSD.

As of July 4, 2024, all clients use our innovative CORE platform for trading and no longer have access to MT4.

Yes, you can hedge positions. To do so, you need to deactivate the FIFO (First-In, First-Out) setting on the trading platform. Normally, with FIFO enabled, opening an opposing trade (like a SELL following a BUY) on the same instrument will close the earliest open position(s). To keep both a BUY and SELL open simultaneously on the same asset, the FIFO setting must be disabled. This setting is typically activated by default but can be turned off in the trading preferences on the web app or mobile app.

It's not visible by default, but the feature is easy to access - simply add the ‘Est. liquidation price’ column in the open positions view. This gives you crucial risk management insight without needing to search for additional tools or information.