Compare SimpleFX vs ForexMart
What is SimpleFX? What is ForexMart?
SimpleFX is an online forex broker that offers trading in various instruments, such as forex, CFDs, crypto, stocks, indices, commodities, and more. SimpleFX claims to provide a fast and easy-to-use trading platform with no minimum deposits, no commissions, and high leverage.
ForexMart is also an online forex broker that offers trading in forex, CFDs, crypto, stocks, metals, and more. ForexMart claims to provide a reliable and secure trading platform with low spreads, no commissions, and flexible leverage.
SimpleFX vs ForexMart Regulation Comparison
SimpleFX is not regulated by any financial authority, which means that it does not have to comply with any rules or standards regarding client protection, fund segregation, or dispute resolution.
ForexMart is regulated by several financial authorities, such as the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, the Financial Sector Conduct Authority (FSCA) in South Africa, and the Capital Markets Authority of Kenya (CMA). This means that ForexMart has to follow strict rules and regulations regarding client protection, fund segregation, and dispute resolution.
SimpleFX vs ForexMart Trading Assets Comparison
SimpleFX offers more than 100 trading instruments, including 60 currency pairs, 15 cryptocurrencies, 12 stock indices, 9 commodities, and various stocks and ETFs.
ForexMart offers more than 150 trading instruments, including 108 currency pairs, 4 cryptocurrencies, 7 stock indices, 4 metals, 2 energies, and various stocks and futures.
SimpleFX vs ForexMart Trading Fees Comparison
SimpleFX charges variable spreads on its trading instruments, which can vary depending on market conditions and liquidity. The average spread for the EUR/USD pair is 1.7 pips. SimpleFX also charges a commission of $2 per lot per side on some instruments.
ForexMart also charges variable spreads on its trading instruments, which can vary depending on market conditions and liquidity. The average spread for the EUR/USD pair is 1.5 pips. ForexMart does not charge any commission on any instrument.
SimpleFX vs ForexMart Account Types Comparison
SimpleFX offers only one type of account for all its clients, which has a minimum deposit of $1 and a maximum leverage of 1:500. The account allows hedging, scalping, automated trading, and swap-free trading for Islamic clients.
ForexMart offers three types of accounts for its clients: Standard Account, Zero Spread Account, and ECN Account. The Standard Account has a minimum deposit of $10 and a maximum leverage of 1:2000. The Zero Spread Account has a minimum deposit of $1000 and a maximum leverage of 1:2000. The ECN Account has a minimum deposit of $5000 and a maximum leverage of 1:2000. All accounts allow hedging, scalping, automated trading, and swap-free trading for Islamic clients.
SimpleFX vs ForexMart Deposit Options Comparison
SimpleFX offers various deposit and withdrawal options for its clients, such as Skrill, Neteller, FasaPay, Crypto (Bitcoin, Litecoin, Ethereum, etc.), Credit/Debit Cards (Visa/Mastercard), Wire Transfer (SEPA/SWIFT), and more. The deposit and withdrawal fees depend on the method chosen by the client.
ForexMart also offers various deposit and withdrawal options for its clients, such as WebMoney, Skrill, Neteller, FasaPay, Crypto (Bitcoin), Credit/Debit Cards (Visa/Mastercard), Wire Transfer (SEPA/SWIFT), UnionPay (China), QIWI (Russia), Perfect Money (Global), DIXIPAY (Global), Google Pay (India), and more. The deposit and withdrawal fees depend on the method chosen by the client.
SimpleFX vs ForexMart Trading Platforms Comparison
SimpleFX provides its clients with the MetaTrader 4 platform as well as its own web-based platform and mobile apps for iOS and Android devices. The platforms offer various features such as price charts, technical indicators, one-click trading, trailing stop orders, pending orders, etc.
ForexMart also provides its clients with the MetaTrader 4 platform as well as its own web-based platform and mobile apps for iOS and Android devices. The platforms offer similar features as SimpleFX’s platforms.
SimpleFX vs ForexMart Analytical Tools Comparison
SimpleFX does not offer any analytical tools or educational resources for its clients apart from its blog section that contains some market news and analysis.
ForexMart offers various analytical tools and educational resources for its clients such as daily market analysis reports from Trading Central (a leading provider of technical analysis), economic calendar (a tool that shows important economic events and indicators), VPS service (a service that allows clients to run their automated trading systems on a remote server without interruptions), free education section (a section that contains articles and videos on various topics related to forex trading), etc.
SimpleFX vs ForexMart. Which forex broker is better? Which forex broker should you choose?
The best forex broker for you depends on your personal preferences, trading style, goals 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.
