Compare SimpleFX vs TradersWay
What is SimpleFX? What is TradersWay?
SimpleFX is a free trading and investing app that allows users to trade and stake with no fees and no minimum deposits. It offers a variety of assets, including cryptocurrencies, forex, stocks, indices, commodities, and more. It also has its own native token, SFX, that can be used for rewards and discounts.
TradersWay is an online forex and CFD broker that provides traders with a range of trading platforms and account types. It offers ECN trading with direct interbank market access and variable spreads. It also supports various trading instruments, such as forex, metals, energies, indices, cryptocurrencies, and more.
SimpleFX vs TradersWay Regulation Comparison
SimpleFX is registered in St. Vincent and the Grenadines as an International Business Company (IBC) with registration number 21380042B8QJ87V4HA89. It is not regulated by any financial authority and does not provide any investor protection or compensation scheme.
TradersWay is also registered in St. Vincent and the Grenadines as an IBC with registration number 21668 IBC 2013. It is also not regulated by any financial authority and does not provide any investor protection or compensation scheme.
SimpleFX vs TradersWay Trading Assets Comparison
SimpleFX offers over 200 trading instruments, including 60+ currency pairs, 40+ cryptocurrencies, 20+ stock indices, 15+ commodities, and 100+ stocks.
TradersWay offers over 100 trading instruments, including 40+ currency pairs, 10+ cryptocurrencies, 10+ stock indices, 10+ commodities, and 50+ stocks.
SimpleFX vs TradersWay Trading Fees Comparison
SimpleFX does not charge any commissions or fees on trading or staking. It only charges the bid-ask spread, which varies depending on the market conditions and the asset traded. The average spread for EUR/USD is 0.9 pips, for BTC/USD is $5.5, and for USOIL is $0.03.
TradersWay charges different commissions and fees depending on the account type and the platform used. For MT4.ECN., MT5.ECN., and CT.ECN. accounts, it charges a commission of $2.5 per lot per side on forex and metals, and $0.25 per lot per side on other instruments. For MT4.VAR. accounts, it does not charge any commission but only the bid-ask spread, which varies depending on the market conditions and the asset traded. The average spread for EUR/USD is 1.5 pips, for BTC/USD is $20, and for USOIL is $0.05.
SimpleFX vs TradersWay Account Types Comparison
SimpleFX only offers one standard account type for all users. The minimum deposit is $0 and the maximum leverage is 1:500 for forex and metals, 1:50 for cryptocurrencies, indices, and commodities, and 1:20 for stocks. The minimum order size is 0.01 lot for all instruments except stocks, which have a minimum order size of one share.
TradersWay offers four account types: MT4.VAR., MT4.ECN., MT5.ECN., and CT.ECN.. The minimum deposit is $10 for all account types and the maximum leverage is 1:1000 for forex and metals, 1:200 for cryptocurrencies, indices, and commodities, and 1:20 for stocks. The minimum order size is 0.01 lot for all instruments except stocks, which have a minimum order size of one share.
SimpleFX vs TradersWay Deposit Options Comparison
SimpleFX supports various deposit and withdrawal options, including bank transfers, credit/debit cards, e-wallets (Skrill, Neteller), cryptocurrencies (Bitcoin, Ethereum), stablecoins (USDT), payment systems (FasaPay), and vouchers (Bitvoucher). It does not charge any deposit or withdrawal fees except for bank transfers, which may incur intermediary bank fees. The processing time varies depending on the method used but is usually instant or within a few hours.
TradersWay also supports various deposit and withdrawal options, including bank transfers, credit/debit cards (Visa/Mastercard), e-wallets (Skrill, Neteller, Perfect Money), cryptocurrencies (Bitcoin, Litecoin, Ethereum), payment systems (FasaPay, UPayCard), and vouchers (VLoad). It does not charge any deposit or withdrawal fees except for bank transfers, which may incur intermediary bank fees. The processing time also varies depending on the method used but is usually instant or within a few hours.
SimpleFX vs TradersWay Trading Platforms Comparison
SimpleFX offers a range of trading platforms, including SimpleFX WebTrader, SimpleFX Mobile Apps, MetaTrader 4, and MetaTrader 5. SimpleFX WebTrader is a web-based platform that allows users to trade and stake with no fees and no minimum deposits. It has a user-friendly interface, fast execution, market depth, one-click trading, and analytical tools. SimpleFX Mobile Apps are available for iOS, Android, and Windows devices and enable users to trade on the go. MetaTrader 4 and MetaTrader 5 are desktop-based platforms that offer advanced trading features, such as multiple chart types, indicators, expert advisors, strategy testers, and more.
TradersWay also offers a range of trading platforms, including MetaTrader 4, MetaTrader 5, MetaTrader Web Terminal, MT Mobile Apps, cTrader, cTrader Automate, cTrader Web, cTrader Mobile Apps, and cTrader Copy. MetaTrader 4 and MetaTrader 5 are desktop-based platforms that offer advanced trading features, such as multiple chart types, indicators, expert advisors, strategy testers, and more. MetaTrader Web Terminal is a web-based platform that allows users to access their accounts securely from any PC without installing any software. MT Mobile Apps are available for iOS and Android devices and enable users to trade on the go. cTrader is a platform designed especially for ECN/STP trading with sub-millisecond execution speeds, level II pricing, and no conflict of interest. cTrader Automate is a feature that allows users to create and test automated trading strategies using cAlgo. cTrader Web is a web-based version of cTrader that offers the same functionality as the desktop version. cTrader Mobile Apps are available for iOS and Android devices and enable users to trade on the go. cTrader Copy is a feature that allows users to copy the trades of other successful traders or offer their own signals for others to follow.
SimpleFX vs TradersWay Analytical Tools Comparison
SimpleFX provides various analytical tools for its users, such as live charts, technical indicators, drawing tools, news feeds, economic calendars, trading signals, trading ideas, and blog posts. Users can also access educational resources, such as tutorials, videos, webinars, and FAQs.
TradersWay also provides various analytical tools for its users, such as live charts, technical indicators, drawing tools, news feeds, economic calendars, trading signals (MT4 Trading Signals), social trading (FxStat Autotrading), market analysis (FxWire Pro Newsfeed), and VPS hosting service. Users can also access educational resources, such as articles, videos, webinars, glossary, and FAQs.
SimpleFX vs TradersWay. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading performance and experience. There are many factors to consider, such as regulation, trading assets, trading fees, account types, deposit and withdrawal options, trading platforms, analytical tools, and customer support. You should also do your own research and compare different brokers before making a final choice.
