Compare FreshForex vs SimpleFX
What is FreshForex? What is SimpleFX ?
FreshForex is a brand that provides access to online trading for clients from more than 200 countries all over the world. The company offers various trading instruments, such as forex, metals, indices, stocks, cryptocurrencies and more. FreshForex also provides educational and analytical services, as well as bonuses and promotions for its clients.
SimpleFX is a free trading and investing app that allows users to buy and sell cryptocurrencies and other assets from anywhere. The app supports over 60 payment methods, including Lightning Network payments. SimpleFX also features a social trading platform where users can share their trading ideas and earn revenue share. SimpleFX has its own token, SFX, which can be used for staking and rewards.
FreshForex vs SimpleFX Regulation Comparison
FreshForex is regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines under the number 20623 IBC 2012. The company claims to comply with the international standards of brokerage services and to protect the clients’ funds and data.
SimpleFX is not regulated by any authority, but it states that it follows the best practices of the industry and that it uses advanced security measures to protect the users’ funds and data. The company also has a risk warning on its website that informs the users about the high risk of trading with leverage.
FreshForex vs SimpleFX Trading Assets Comparison
FreshForex offers over 130 trading instruments, including:
- 50+ currency pairs
- 15+ metals
- 15+ indices
- 60+ stocks
- 6 cryptocurrencies
- CFDs on energy and agricultural products
SimpleFX offers over 170 trading instruments, including:
- 50+ currency pairs
- 10+ metals
- 20+ indices
- 80+ stocks
- 15+ cryptocurrencies
- CFDs on commodities and ETFs
FreshForex vs SimpleFX Trading Fees Comparison
FreshForex charges different fees depending on the type of account and the trading instrument. The main fees are:
- Spreads: from 0 pips on ECN accounts and from 0.9 pips on Classic and Market Pro accounts
- Commissions: from $3 per lot on ECN accounts and $0 on Classic and Market Pro accounts
- Swap: varies by instrument and direction of trade
- Deposit: $0
- Withdrawal: varies by payment method
SimpleFX does not charge any fees for deposits or withdrawals, but it has other fees such as:
- Spreads: from 0.1 pips on major currency pairs and from 0.5 pips on cryptocurrencies
- Swap: varies by instrument and direction of trade
- Financing rate: applies to leveraged positions held overnight
- Inactivity fee: $10 per month after 6 months of inactivity
FreshForex vs SimpleFX Account Types Comparison
FreshForex offers three types of accounts:
| Account type | Minimum deposit | Maximum leverage | Execution type | Margin call/Stop out |
|---|---|---|---|---|
| Classic | $0 | 1:2000 | Instant | 40%/20% |
| Market Pro | $0 | 1:1000 | Market | 60%/40% |
| ECN | $200 | 1:500 | Market | 100%/60% |
SimpleFX does not have different types of accounts, but it allows users to customize their trading preferences, such as:
- Base currency: USD, EUR, GBP, BTC, ETH, USDT, etc.
- Leverage: up to 1:500 for forex and metals, up to 1:50 for cryptocurrencies, up to 1:20 for stocks and indices
- Trading mode: demo or live
FreshForex vs SimpleFX Deposit Options Comparison
FreshForex supports various deposit and withdrawal options, such as:
- Bank cards (Visa, Mastercard)
- Electronic wallets (Skrill, Neteller, WebMoney, etc.)
- Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
- Bank wire transfer
SimpleFX supports over 60 deposit and withdrawal options, such as:
- Bank cards (Visa, Mastercard)
- Electronic wallets (Skrill, Neteller, WebMoney, etc.)
- Cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.)
- Lightning Network payments
- Bank wire transfer
FreshForex vs SimpleFX Trading Platforms Comparison
FreshForex offers two trading platforms:
- MetaTrader 4: the most popular platform for forex and CFD trading, available for desktop, web and mobile devices
- MetaTrader 5: the advanced version of MT4, with more features and instruments, available for desktop, web and mobile devices
SimpleFX offers one trading platform:
- SimpleFX WebTrader: a web-based platform that can be accessed from any device and browser, with a user-friendly interface and a range of tools and indicators
FreshForex vs SimpleFX Analytical Tools Comparison
FreshForex provides various analytical tools for its clients, such as:
- Fresh Forecast: daily reviews and forecasts by financial experts
- Forex Encyclopedia: educational articles on various topics related to trading
- Trading Signals: alerts and recommendations based on technical analysis
- Economic Calendar: a list of important events and indicators that affect the markets
SimpleFX also provides various analytical tools for its users, such as:
- Trading Ideas: a social trading platform where users can share their opinions and strategies with others and earn revenue share
- SimpleFX Blog: a source of news, analysis, tutorials and tips on trading and investing
- Trading Academy: a series of videos and articles that teach the basics of trading with SimpleFX
- Economic Calendar: a list of important events and indicators that affect the markets
FreshForex vs SimpleFX . Which forex broker is better? Which forex broker should you choose?
Both brokers have their own advantages and disadvantages, which you should compare carefully before making a decision. You can also check out some online reviews and ratings from other traders for a better understanding. However, you should always do your own research and due diligence before choosing a broker.
