Compare SimpleFX vs Amega
What is SimpleFX? What is Amega?
SimpleFX is a free trading and investing app that allows users to trade and stake various assets such as forex, stocks, commodities, cryptocurrencies, and more. It has no fees and no minimum deposits, and it offers a cashback program, a deposit bonus, and a new SFX coin.
Amega is an offshore STP broker that offers CFD trading on forex, stocks, indices, and commodities. It has very high leverage up to 1:1000 and a zero-commission pricing structure. It also offers Islamic accounts, a mega cashback program, and a variety of deposit and withdrawal options.
SimpleFX vs Amega Regulation Comparison
SimpleFX is not regulated by any financial authority, which means it does not have to comply with any rules or standards regarding customer protection, security, or transparency.
Amega is regulated by the Financial Services Commission of Mauritius (FSC) and the Financial Services Authority of St. Vincent and the Grenadines (FSA). These are not very reputable regulators, but they do provide some level of oversight and regulation for the broker.
SimpleFX vs Amega Trading Assets Comparison
SimpleFX offers over 200 trading instruments, including 60+ currency pairs, 15+ indices, 20+ commodities, 120+ stocks, and 10+ cryptocurrencies.
Amega offers over 120 trading instruments, including 50+ currency pairs, 15+ indices, 10+ commodities, 40+ stocks, and 5+ cryptocurrencies.
SimpleFX vs Amega Trading Fees Comparison
SimpleFX does not charge any commissions or fees on trading. It makes money from the spreads, which are variable and depend on the market conditions. The average spread for EUR/USD is 1.2 pips.
Amega also does not charge any commissions or fees on trading. It also makes money from the spreads, which are variable and depend on the market conditions. The average spread for EUR/USD is 0.6 pips.
SimpleFX vs Amega Account Types Comparison
SimpleFX only offers one type of account for all traders. The minimum deposit is $1 and the maximum leverage is 1:500 for forex and 1:50 for cryptocurrencies.
Amega offers four types of accounts for different traders: Standard (minimum deposit $1, maximum leverage 1:1000), Premium (minimum deposit $1000, maximum leverage 1:200), Scalper (minimum deposit $1000, maximum leverage 1:200), and SwapFree (minimum deposit $1, maximum leverage 1:1000). The SwapFree account is designed for Islamic traders who do not want to pay or receive interest on their positions.
SimpleFX vs Amega Deposit Options Comparison
SimpleFX supports a wide range of deposit and withdrawal methods, including bank transfer, credit/debit card, Skrill, Neteller, FasaPay, Bitcoin, Ethereum, Litecoin, Tether, Binance Coin, Chainlink, and more.
Amega also supports a wide range of deposit and withdrawal methods, including bank transfer, credit/debit card, Skrill, Neteller, FasaPay, Perfect Money, WebMoney, Bitcoin, Ethereum, Litecoin, Tether, Binance Coin, Chainlink, and more.
SimpleFX vs Amega Trading Platforms Comparison
SimpleFX uses its own proprietary web-based platform called SimpleFX WebTrader. It is fast, intuitive, and user-friendly. It has various features such as charting tools, technical indicators, trading signals, news feed, and social trading. It also has mobile apps for iOS and Android devices.
Amega uses the popular MetaTrader 5 (MT5) platform. It is a powerful, advanced, and customizable platform that has various features such as charting tools, technical indicators, trading signals, news feed, and automated trading. It also has mobile apps for iOS and Android devices.
SimpleFX vs Amega Analytical Tools Comparison
SimpleFX provides some analytical tools for traders such as trading ideas, blog posts, and news TV live. These tools can help traders get insights into the market trends, opportunities, and strategies.
Amega does not provide any analytical tools for traders on its website or platform. Traders have to rely on their own research or external sources to get market analysis and information.
SimpleFX vs Amega. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is a personal decision that depends on your trading style, goals, and preferences. There is no definitive answer to which broker is better, as each one has its own advantages and disadvantages. However, you can compare some of the main aspects of SimpleFX and Amega and decide which one suits you.
Here are some of the factors you may want to consider:
- Regulation: If you value security and protection, you may prefer a regulated broker that follows certain rules and standards. Amega is regulated by two offshore authorities, which are not very reputable, but still provide some level of oversight and regulation. SimpleFX is not regulated by any authority, which means it does not have to comply with any rules or standards regarding customer protection, security, or transparency .
- Trading Assets: If you want to diversify your portfolio and trade various assets, you may prefer a broker that offers a wide range of trading instruments. SimpleFX offers over 200 trading instruments, including 60+ currency pairs, 15+ indices, 20+ commodities, 120+ stocks, and 10+ cryptocurrencies. Amega offers over 120 trading instruments, including 50+ currency pairs, 15+ indices, 10+ commodities, 40+ stocks, and 5+ cryptocurrencies.
- Trading Fees: If you want to save money and maximize your profits, you may prefer a broker that charges low or no fees on trading. Both SimpleFX and Amega do not charge any commissions or fees on trading. They both make money from the spreads, which are variable and depend on the market conditions. The average spread for EUR/USD is 1.2 pips for SimpleFX and 0.6 pips for Amega .
- Account Types: If you want to customize your trading experience and choose the best account for your needs, you may prefer a broker that offers different types of accounts for different traders. Amega offers four types of accounts for different traders: Standard (minimum deposit $1, maximum leverage 1:1000), Premium (minimum deposit $1000, maximum leverage 1:200), Scalper (minimum deposit $1000, maximum leverage 1:200), and SwapFree (minimum deposit $1, maximum leverage 1:1000). The SwapFree account is designed for Islamic traders who do not want to pay or receive interest on their positions. SimpleFX only offers one type of account for all traders. The minimum deposit is $1 and the maximum leverage is 1:500 for forex and 1:50 for cryptocurrencies.
- Deposit and Withdrawal Options: If you want to have flexibility and convenience in funding your account and withdrawing your profits, you may prefer a broker that supports a wide range of deposit and withdrawal methods. Both SimpleFX and Amega support a wide range of deposit and withdrawal methods, including bank transfer, credit/debit card, Skrill, Neteller, FasaPay, Bitcoin, Ethereum, Litecoin, Tether, Binance Coin, Chainlink, and more .
- Trading Platforms: If you want to have a powerful, advanced, and customizable platform that has various features such as charting tools, technical indicators, trading signals, news feed, and automated trading, you may prefer a broker that uses the popular MetaTrader 5 (MT5) platform. Amega uses the MT5 platform. If you want to have a fast, intuitive, and user-friendly platform that has various features such as charting tools, technical indicators, trading signals, news feed, and social trading, you may prefer a broker that uses its own proprietary web-based platform. SimpleFX uses its own platform called SimpleFX WebTrader. Both brokers also have mobile apps for iOS and Android devices.
- Analytical Tools: If you want to get insights into the market trends, opportunities, and strategies, you may prefer a broker that provides some analytical tools for traders such as trading ideas, blog posts, and news TV live. SimpleFX provides some analytical tools for traders on its website and platform. Amega does not provide any analytical tools for traders on its website or platform. Traders have to rely on their own research or external sources to get market analysis and information.
As you can see, there are many factors to consider when choosing a forex broker. You may have different preferences and priorities than other traders. Therefore, you can do your own research and try out both brokers with demo accounts before making a final decision.
