Compare SimpleFX vs FXTM
What is SimpleFX? What is FXTM?
SimpleFX is an ECN broker for Forex and CFDs founded in 2014, which also enables trading in four crypto currencies. The broker is based in St. Vincent and the Grenadines and offers its services worldwide. Accounts can be managed in a variety of currencies, including Bitcoin, Etherum and Litecoin.
FXTM is a global broker that offers trading and investing services in Forex, CFDs, stocks, indices, commodities and more. FXTM was established in 2011 and is regulated by several authorities, including CySEC, FCA, FSCA and CMA. FXTM also provides educational resources, market analysis and copy trading platforms.
SimpleFX vs FXTM Regulation Comparison
SimpleFX is regulated by the Financial Services Commission (FSC) of the Republic of Mauritius with an Investment Dealer License with license number C113012295. This means that SimpleFX has to comply with the rules and standards set by the FSC, such as maintaining adequate capital, keeping client funds segregated, submitting regular reports and audits, and adhering to a code of conduct.
FXTM is regulated by multiple authorities in different jurisdictions, such as the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 185/12, the Financial Conduct Authority (FCA) of the United Kingdom with license number 777911, the Financial Sector Conduct Authority (FSCA) of South Africa with FSP No. 46614, and the Capital Markets Authority (CMA) of Kenya with a Non-Dealing Online Foreign Exchange Broker with license number 135. This means that FXTM has to follow the rules and regulations of each authority, such as protecting client funds, ensuring fair trading practices, providing transparent information, and resolving disputes.
SimpleFX vs FXTM Trading Assets Comparison
SimpleFX supports trading with Forex, Gold & silver, CFD, Oil, Energies, Crypto, while FXTM presents the ability of trading with Forex, Gold & silver, CFD, Oil, Futures, Crypto. Both brokers offer a wide range of trading instruments for different markets and preferences. However, FXTM also provides access to futures contracts, which are agreements to buy or sell an asset at a specified price and date in the future.
SimpleFX vs FXTM Trading Fees Comparison
SimpleFX charges variable spreads on its trades, which are the difference between the bid and ask prices of an instrument. The spreads depend on the market conditions and the type of instrument. For example, the average spread for EUR/USD is 0.9 pips. SimpleFX also charges commissions on some trades, such as $2 per lot for crypto pairs.
FXTM also charges variable spreads on its trades, which vary according to the account type and the instrument. For example, the average spread for EUR/USD is 1.3 pips on a Standard account and 0.1 pips on an ECN account. FXTM also charges commissions on some trades, such as $4 per lot for ECN accounts.
SimpleFX vs FXTM Account Types Comparison
SimpleFX offers one account type for all traders, which has a minimum deposit of $1 and a maximum leverage of 1:500. The account allows trading with all instruments and platforms offered by SimpleFX.
FXTM offers several account types for different traders, such as Standard accounts (with a minimum deposit of $10 and a maximum leverage of 1:2000), ECN accounts (with a minimum deposit of $500 and a maximum leverage of 1:1000), Stocks accounts (with a minimum deposit of $100 and a maximum leverage of 1:33), and more. The accounts have different features and benefits depending on the trading style and preferences of the traders.
SimpleFX vs FXTM Deposit Options Comparison
SimpleFX accepts various payment methods for deposits and withdrawals, such as Skrill, Neteller, FasaPay, Crypto (including Bitcoin, Ethereum, Litecoin and more), Credit/Debit cards (via Skrill or Neteller), Wire transfer (via Skrill or Neteller), and more. The processing time and limits may vary depending on the payment method.
FXTM also accepts various payment methods for deposits and withdrawals, such as WebMoney, Skrill, Wire transfer, Credit/Debit cards, YooMoney, Neteller, UnionPay, QIWI, Perfect Money, DIXIPAY, FasaPay, Crypto (including Bitcoin, Ethereum, Litecoin and more), Google Pay, and more. The processing time and limits may also vary depending on the payment method.
SimpleFX vs FXTM Trading Platforms Comparison
SimpleFX enables trading with MetaTrader 4, Mobile Trading Platform, and WebTrader. MetaTrader 4 is a popular and powerful trading platform that offers advanced charting tools, indicators, automated trading, and more. Mobile Trading Platform is an app that allows traders to access their accounts and trade on the go from their smartphones or tablets. WebTrader is a web-based platform that does not require any download or installation and can be accessed from any browser.
FXTM enables trading with MetaTrader 4, MetaTrader 5, Mobile Trading Platform, and FXTM Trader. MetaTrader 4 and MetaTrader 5 are both popular and powerful trading platforms that offer advanced charting tools, indicators, automated trading, and more. However, MetaTrader 5 has some additional features and functions, such as more timeframes, more order types, more instruments, and more analytical tools. Mobile Trading Platform is an app that allows traders to access their accounts and trade on the go from their smartphones or tablets. FXTM Trader is a proprietary app that offers a simplified and user-friendly interface for trading.
SimpleFX vs FXTM Analytical Tools Comparison
SimpleFX provides some analytical tools to help traders with their strategies, such as economic calendar, market news, trading signals (via Telegram), and market analysis (via TradingView). These tools can help traders stay updated with the latest market events and trends and make informed decisions.
FXTM also provides some analytical tools to help traders with their strategies, such as economic calendar, market news, trading signals (via FXTM Trading Signals), market analysis (via FXTM Analytics), technical analysis (via Autochartist), and educational resources (such as webinars, articles, videos, ebooks, etc.). These tools can help traders learn new skills, improve their knowledge, and enhance their performance.
SimpleFX vs FXTM. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading experience and results. There are many factors to consider when comparing brokers, such as regulation, trading platforms, spreads, leverage, commissions, and customer support. Here are some of the main differences and similarities between SimpleFX and FXTM:
- Regulation: FXTM is regulated by several reputable authorities, such as CySEC (Cyprus), FCA (UK), FSCA (South Africa), and CMA (Kenya). SimpleFX is not regulated by any official body, which may pose some risks for traders who value security and protection.
- Trading platforms: Both brokers offer MetaTrader 4, which is a popular and user-friendly platform for forex and CFD trading. SimpleFX also has its own web-based platform and a mobile app, while FXTM provides MetaTrader 5, which is an upgraded version of MT4 with more features and tools.
- Spreads: Both brokers have variable spreads, which means they can change depending on the market conditions and liquidity. However, FXTM generally has lower spreads than SimpleFX, especially for the major currency pairs. For example, the average spread for EUR/USD is 0.9 pips for FXTM and 1.2 pips for SimpleFX.
- Leverage: Both brokers offer high leverage ratios, which can amplify your profits and losses. However, FXTM has a much higher maximum leverage than SimpleFX, up to 1:2000 for some accounts. SimpleFX has a maximum leverage of 1:500 for all accounts.
- Commissions: Both brokers charge commissions for some types of accounts, such as ECN or STP accounts. However, SimpleFX has a higher commission rate than FXTM, at $2 per lot. FXTM charges $0.4 to $2 per lot depending on the account type and trading volume.
- Customer support: Both brokers have responsive and helpful customer support teams that can be reached via phone, email, live chat, or social media. However, FXTM has more local offices and phone numbers than SimpleFX, which may be more convenient for some traders.
In conclusion, both SimpleFX and FXTM are reputable and reliable forex brokers that offer a wide range of trading instruments and services. However, they also have some differences that may suit different preferences and needs of traders. Ultimately, the best forex broker for you depends on your personal goals, strategies, and risk appetite. You may want to try their demo accounts first before making a final decision.
