Compare FxPrimus vs SimpleFX
What is FxPrimus? What is SimpleFX?
FxPrimus is a forex broker that offers trading services for various markets, including forex, commodities, indices, cryptocurrencies, and CFDs on stocks. It was founded in 2009 and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Vanuatu Financial Services Commission (VFSC).
SimpleFX is a forex broker that also provides trading services for various markets, such as forex, commodities, indices, cryptocurrencies, and CFDs on stocks. It was established in 2014 and is not regulated by any authority.
FxPrimus vs SimpleFX Regulation Comparison
FxPrimus has a higher level of regulation than SimpleFX, as it is licensed by two reputable regulators: CySEC and VFSC. CySEC is the financial regulatory agency of Cyprus and a member of the European Securities and Markets Authority (ESMA). VFSC is the financial regulatory agency of Vanuatu, a small island nation in the South Pacific.
SimpleFX does not have any regulation, which means that it does not have to comply with any rules or standards set by any authority. This also means that it does not offer any protection or compensation schemes for its clients in case of insolvency or fraud.
FxPrimus vs SimpleFX Trading Assets Comparison
FxPrimus and SimpleFX both offer a wide range of trading assets, including forex, commodities, indices, cryptocurrencies, and CFDs on stocks. However, there are some differences in the number and variety of assets available on each platform.
FxPrimus offers over 120 trading instruments, including 40 currency pairs, 5 metals, 3 energies, 10 indices, 4 cryptocurrencies, and 60 CFDs on stocks. Some of the popular assets on FxPrimus are EUR/USD, XAU/USD, US30, BTC/USD, and AAPL.
SimpleFX offers over 170 trading instruments, including 60 currency pairs, 15 metals, 4 energies, 15 indices, 10 cryptocurrencies, and 70 CFDs on stocks. Some of the popular assets on SimpleFX are GBP/USD, XAG/USD, UK100, ETH/USD, and TSLA.
FxPrimus vs SimpleFX Trading Fees Comparison
FxPrimus and SimpleFX both charge fees for their trading services, but they have different fee structures and rates.
FxPrimus charges fees based on the spread (the difference between the bid and ask prices) and the commission (a fixed amount per lot traded). The spread varies depending on the market conditions and the account type. The commission ranges from $0 to $10 per lot traded depending on the account type. FxPrimus also charges a swap fee (a daily interest rate) for holding positions overnight.
SimpleFX charges fees based on the spread only. The spread also varies depending on the market conditions and the account type. SimpleFX does not charge any commission or swap fees.
FxPrimus vs SimpleFX Account Types Comparison
FxPrimus and SimpleFX both offer different account types for their clients to choose from according to their preferences and needs.
FxPrimus offers three main account types: Standard Account, Premium Account, and VIP Account. The Standard Account has a minimum deposit of $1000, a variable spread starting from 1.6 pips, and no commission. The Premium Account has a minimum deposit of $2500, a variable spread starting from 0.9 pips, and a commission of $5 per lot traded. The VIP Account has a minimum deposit of $10,000, a variable spread starting from 0.3 pips, and a commission of $10 per lot traded.
SimpleFX offers two main account types: Standard Account and Pro Account. The Standard Account has no minimum deposit requirement, a variable spread starting from 0.8 pips for forex pairs and from 0.01% for other assets. The Pro Account has a minimum deposit requirement of $2000 or equivalent in other currencies or cryptocurrencies. It has a lower variable spread starting from 0.1 pips for forex pairs and from 0.005% for other assets.
FxPrimus vs SimpleFX Deposit Options Comparison
FxPrimus accepts deposits and withdrawals via bank wire transfer, credit/debit cards, e-wallets (such as Skrill, Neteller, and FasaPay), and cryptocurrencies (such as Bitcoin, Ethereum, and Litecoin). The processing time and fees vary depending on the method used. FxPrimus does not charge any fees for deposits, but it may charge fees for withdrawals depending on the method and amount.
SimpleFX accepts deposits and withdrawals via bank wire transfer, credit/debit cards, e-wallets (such as Skrill, Neteller, and FasaPay), and cryptocurrencies (such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash, Monero, and more). The processing time and fees also vary depending on the method used. SimpleFX does not charge any fees for deposits or withdrawals.
FxPrimus vs SimpleFX Trading Platforms Comparison
FxPrimus offers the MetaTrader 4 (MT4) platform, which is one of the most popular and widely used trading platforms in the forex industry. MT4 is a desktop-based platform that provides advanced trading tools, such as charts, indicators, expert advisors, scripts, and more. MT4 is also available as a web-based version and a mobile app for iOS and Android devices.
SimpleFX offers its own proprietary platform, which is a web-based platform that can be accessed from any browser without downloading or installing anything. The SimpleFX platform provides basic trading tools, such as charts, indicators, order types, and more. The SimpleFX platform is also available as a mobile app for iOS and Android devices.
FxPrimus vs SimpleFX Analytical Tools Comparison
FxPrimus offers various analytical tools, such as market news, economic calendar, trading signals, webinars, videos, ebooks, and more. These tools are designed to help traders stay updated with the latest market developments, learn new trading strategies, and improve their trading skills.
SimpleFX offers some analytical tools, such as market news, economic calendar, trading ideas, blog posts, and more. These tools are intended to help traders keep track of the market trends, get inspired by other traders’ ideas, and gain more knowledge about trading.
FxPrimus vs SimpleFX. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading success and experience. There is no definitive answer to which forex broker is better, as it depends on your personal preferences and needs. You can do more research, read reviews, try a demo account or even open a live account with both brokers to see which broker meets your expectations and requirements.
