Compare SimpleFX vs LMFX
What is SimpleFX? What is LMFX?
SimpleFX is a free trading and investing app that allows users to trade and stake various assets, such as cryptocurrencies, stocks, forex, gold, and oil, with no fees and no minimum deposits. SimpleFX also offers a generous cashback program, a partnership program, and a variety of educational materials and tools.
LMFX is a stock and forex broker that offers MT4 trading with high leverage rates, up to 1:1000. LMFX also provides a 100% credit bonus and a 15% recovery bonus, as well as a partnership program, VPS hosting, and daily market analysis.
SimpleFX vs LMFX Regulation Comparison
SimpleFX is not regulated by any financial authority, which means that it does not have to comply with any specific rules or standards regarding customer protection, security, or transparency. However, SimpleFX claims to use advanced encryption and security measures to ensure the safety of its users’ funds and data.
LMFX is also not regulated by any financial authority, which means that it operates in a similar way as SimpleFX. However, LMFX states that it keeps its clients’ funds in segregated accounts with reputable banks and uses strict anti-money laundering policies.
SimpleFX vs LMFX Trading Assets Comparison
SimpleFX offers over 250 financial instruments to trade with, including cryptocurrencies, stocks, forex, indices, commodities, and futures. Some of the most popular assets on SimpleFX are Bitcoin, Ethereum, Tesla, NDX100, USOIL, and GOLD.
LMFX offers over 150 financial instruments to trade with, including forex, metals, oil, indices, shares, and commodities. Some of the most popular assets on LMFX are EURUSD, SPX500, USDJPY, OIL, GOLD, and TESLA.
SimpleFX vs LMFX Trading Fees Comparison
SimpleFX does not charge any commissions or fees on trading or staking. Instead, it makes money from the spreads and swaps that vary depending on the asset and market conditions. The average spread for EURUSD on SimpleFX is 0.2 pips.
LMFX also does not charge any commissions or fees on trading. However, it does charge a $20 fee for VPS hosting per month. The spreads and swaps on LMFX also vary depending on the asset and market conditions. The average spread for EURUSD on LMFX is 0.8 pips.
SimpleFX vs LMFX Account Types Comparison
SimpleFX offers only one type of account for all its users. The account has no minimum deposit requirement and allows users to trade with up to 500:1 leverage. The account also gives users access to all the features and tools that SimpleFX provides.
LMFX offers three types of accounts for its users: Premium Account, Fixed Account, and Zero Account. The Premium Account has a minimum deposit of $50 and allows users to trade with up to 1000:1 leverage. The Fixed Account has a minimum deposit of $250 and allows users to trade with fixed spreads. The Zero Account has a minimum deposit of $100 and allows users to trade with variable spreads starting from zero.
SimpleFX vs LMFX Deposit Options Comparison
SimpleFX offers a variety of methods to deposit and withdraw funds from its platform. Users can use cryptocurrencies (such as Bitcoin), e-wallets (such as Skrill), credit cards (such as Visa), or bank transfers (such as Wire Transfer). There are no fees or limits on deposits or withdrawals on SimpleFX.
LMFX also offers a variety of methods to deposit and withdraw funds from its platform. Users can use cryptocurrencies (such as Bitcoin), e-wallets (such as Neteller), credit cards (such as Mastercard), or bank transfers (such as Wire Transfer). There are no fees or limits on deposits on LMFX. However, there are some fees and limits on withdrawals depending on the method used
SimpleFX vs LMFX Trading Platforms Comparison
SimpleFX uses its own proprietary web-based platform called SimpleFX WebTrader. The platform is fast, intuitive, and user-friendly. It supports one-click trading, multiple chart types, indicators, drawing tools, order types, risk management tools, and more. Users can also access the platform from any device using the native iOS or Android apps.
LMFX uses the popular MetaTrader 4 (MT4) platform. The platform is widely used and trusted by traders around the world. It supports advanced charting, technical analysis, automated trading, custom indicators, expert advisors, and more. Users can also access the platform from any device using the MT4 mobile and desktop applications.
SimpleFX vs LMFX Analytical Tools Comparison
SimpleFX offers a range of analytical tools to help its users make informed trading decisions. Some of these tools are economic calendar, trading calculators, VPS hosting, daily market analysis, and trading ideas. Users can also access the SimpleFX blog, which provides news, tutorials, and tips on various topics related to trading and investing.
LMFX also offers a range of analytical tools to help its users make informed trading decisions. Some of these tools are economic calendar, trading calculators, VPS hosting, daily market analysis, and partnership program. Users can also access the LMFX education section, which provides articles, videos, webinars, and ebooks on various topics related to trading and investing.
SimpleFX vs LMFX. 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, preferences, and risk appetite. There is no definitive answer to which forex broker is better, as each one has its own advantages and disadvantages. However, here are some possible factors that you may want to consider when comparing SimpleFX and LMFX:
- Regulation: Neither SimpleFX nor LMFX is regulated by any financial authority, which means that they are not subject to any legal oversight or protection. This may pose some risks for your funds and data security, as well as your rights and obligations as a trader. If you value regulation and credibility, you may want to look for other brokers that are licensed and regulated by reputable agencies, such as the FCA, ASIC, CySEC, or NFA.
- Trading Assets: Both SimpleFX and LMFX offer a wide range of trading assets, including forex, stocks, indices, commodities, and cryptocurrencies. However, SimpleFX has more assets to choose from than LMFX, with over 250 instruments versus over 150 instruments. If you want to diversify your portfolio and access more markets, you may prefer SimpleFX over LMFX.
- Trading Fees: Both SimpleFX and LMFX do not charge any commissions or fees on trading. However, they do charge spreads and swaps that vary depending on the asset and market conditions. Generally speaking, SimpleFX has lower spreads than LMFX, especially for forex pairs. For example, the average spread for EURUSD on SimpleFX is 0.2 pips, while on LMFX it is 0.8 pips. If you want to save on trading costs and maximize your profits, you may favor SimpleFX over LMFX.
- Account Types: SimpleFX offers only one type of account for all its users, while LMFX offers three types of accounts: Premium Account, Fixed Account, and Zero Account. The main difference between these accounts is the minimum deposit requirement, the leverage ratio, and the spread type. If you want to trade with high leverage and variable spreads, you may opt for the Premium Account or the Zero Account on LMFX. If you want to trade with fixed spreads and lower leverage, you may choose the Fixed Account on LMFX. If you want to trade with no minimum deposit and up to 500:1 leverage, you may go for the SimpleFX account.
- Deposit and Withdrawal Options: Both SimpleFX and LMFX offer a variety of methods to deposit and withdraw funds from their platforms. Users can use cryptocurrencies, e-wallets, credit cards, or bank transfers. However, there are some differences in terms of fees and limits. SimpleFX does not charge any fees or impose any limits on deposits or withdrawals. LMFX does not charge any fees or impose any limits on deposits either. However, it does charge some fees and impose some limits on withdrawals depending on the method used.
- Trading Platforms: SimpleFX uses its own proprietary web-based platform called SimpleFX WebTrader, while LMFX uses the popular MetaTrader 4 (MT4) platform. Both platforms are fast, intuitive, and user-friendly. They support various features and tools for trading and analysis. However, they also have some differences in terms of design and functionality. If you want to use a platform that is customized for SimpleFX’s services and features, you may like SimpleFX WebTrader. If you want to use a platform that is widely used and trusted by traders around the world, you may prefer MT4.
- Analytical Tools: Both SimpleFX and LMFX offer a range of analytical tools to help their users make informed trading decisions. Some of these tools are economic calendar, trading calculators, VPS hosting, daily market analysis, partnership program, etc. However, they also have some unique tools that the other does not have. For example, SimpleFX offers a cashback program that rewards users for their trading volume. LMFX offers a 100% credit bonus and a 15% recovery bonus that boost users’ trading capital.
