Compare SimpleFX vs Trading212
What is SimpleFX? What is Trading212?
SimpleFX is a free trading and investing app that allows users to trade stocks, ETFs, forex, commodities, and cryptocurrencies with no fees and no minimum deposits. SimpleFX also offers a crypto multi-asset trading platform with its exclusive SFX token.
Trading212 is a fintech company that offers commission-free investing for everyone with its smart and easy to use apps. Users can trade stocks, ETFs, forex, commodities, and more with fractional shares and auto-invest features. Trading212 also pays daily interest on uninvested cash in USD, GBP and EUR.
SimpleFX vs Trading212 Regulation Comparison
SimpleFX is regulated by the Financial Services Authority of St. Vincent and the Grenadines under the number 21380042B8QJ87V4HA89. SimpleFX does not accept clients from the United States, Canada, Japan, Syria, Iran, North Korea, Sudan, and Cuba.
Trading212 is regulated by various authorities across Europe, including the Financial Conduct Authority (FCA) in the UK under the number 609146, the Financial Supervision Commission (FSC) in Bulgaria under the number RG-03-0237, and the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg under the number M 42795. Trading212 also accepts clients from Switzerland and Norway.
SimpleFX vs Trading212 Trading Assets Comparison
SimpleFX offers over 200 trading instruments, including forex pairs, indices, stocks, commodities, cryptocurrencies, and futures. Users can also trade on over-the-counter (OTC) markets during weekends.
Trading212 offers over 12,000 global stocks and ETFs from various exchanges in Europe and North America. Users can also trade forex pairs, indices, commodities, and cryptocurrencies.
SimpleFX vs Trading212 Trading Fees Comparison
SimpleFX does not charge any commissions or fees for trading or investing. However, users may incur other costs such as spreads, swaps, conversion fees, withdrawal fees, or blockchain fees depending on the instrument and payment method they choose.
Trading212 does not charge any commissions or fees for trading or investing either. However, users may also incur other costs such as spreads, swaps, currency conversion fees, withdrawal fees, or inactivity fees depending on the instrument and payment method they choose.
SimpleFX vs Trading212 Account Types Comparison
SimpleFX offers two types of accounts: live and demo. Live accounts can be opened with just an email address and can be managed in various currencies, including Bitcoin, Ethereum, Litecoin, Tether, Binance Coin, Chainlink, and USD Coin. Live accounts can also be opened anonymously with cryptocurrencies. Demo accounts are virtual accounts that allow users to practice trading with $10,000 of virtual funds.
Trading212 offers three types of accounts: Invest, ISA, and CFD. Invest accounts allow users to buy and sell stocks and ETFs with zero commission. ISA accounts are tax-efficient accounts that allow users to invest up to £20,000 per year in stocks and ETFs with zero commission. CFD accounts allow users to trade with leverage on various instruments with tight spreads. All accounts can be opened with a minimum deposit of £1 or equivalent.
SimpleFX vs Trading212 Deposit Options Comparison
SimpleFX supports various deposit and withdrawal options, including bank transfers, credit cards, debit cards, e-wallets (such as Skrill, Neteller, FasaPay), and cryptocurrencies (such as Bitcoin, Ethereum, Litecoin). The minimum deposit amount varies depending on the payment method but is generally low or zero. The minimum withdrawal amount is $10 or equivalent for most methods except for cryptocurrencies which have different network fees.
Trading212 supports various deposit and withdrawal options as well, including bank transfers, credit cards, debit cards, e-wallets (such as Skrill, Neteller, PayPal), and Apple Pay. The minimum deposit amount is £1 or equivalent for all methods. The minimum withdrawal amount is £10 or equivalent for most methods except for bank transfers which have no minimum limit.
SimpleFX vs Trading212 Trading Platforms Comparison
SimpleFX offers its own web-based trading platform called SimpleFX WebTrader which is fast, intuitive, and customizable. Users can access the platform from any device with a web browser. SimpleFX also offers native mobile apps for iOS and Android devices which allow users to trade on the go. Both platforms support multiple languages, charts, indicators, and trading tools.
Trading212 offers its own web-based trading platform as well which is smart, easy to use, and user-friendly. Users can access the platform from any device with a web browser as well. Trading212 also offers native mobile apps for iOS and Android devices which are highly rated and popular among traders. Both platforms support multiple languages, charts, indicators, and trading tools as well.
SimpleFX vs Trading212 Analytical Tools Comparison
SimpleFX provides various analytical tools for traders, such as market news, trading ideas, trading academy, dividend calendar, trading schedule changes, and more. Users can also access the SimpleFX blog which offers market analysis, tutorials, and tips on trading and investing.
Trading212 provides various analytical tools as well, such as market news, economic calendar, price alerts, trading signals, trading academy, and more. Users can also access the Trading212 community which offers forums, blogs, podcasts, and videos on trading and investing.
SimpleFX vs Trading212. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, trading style, and goals. There is no definitive answer to which forex broker is better, as different brokers may suit different traders better.
SimpleFX and Trading212 are both online brokers that offer forex trading as well as other instruments such as stocks, ETFs, commodities, and cryptocurrencies. They both have their own advantages and disadvantages that you should consider before opening an account with either of them.
Some of the main factors that you may want to compare are:
- Regulation: This is a crucial aspect of choosing a broker, as it indicates the level of security, transparency, and protection that the broker provides to its clients. SimpleFX is regulated by the Financial Services Authority of St. Vincent and the Grenadines, which is a relatively low-tier jurisdiction that does not offer much oversight or compensation schemes for traders. Trading212, on the other hand, is regulated by various authorities across Europe, including the FCA in the UK, the FSC in Bulgaria, and the CSSF in Luxembourg, which are all high-tier jurisdictions that offer strict supervision and protection for traders.
- Trading Assets: This is another important factor that determines the range of trading opportunities and diversification that the broker offers to its clients. SimpleFX offers over 200 trading instruments, including forex pairs, indices, stocks, commodities, cryptocurrencies, and futures. Trading212 offers over 12,000 global stocks and ETFs from various exchanges in Europe and North America, as well as forex pairs, indices, commodities, and cryptocurrencies. Both brokers offer a wide variety of trading assets, but Trading212 has a clear edge in terms of stocks and ETFs.
- Trading Fees: This is a key factor that affects the profitability and performance of your trading. SimpleFX and Trading212 both claim to offer zero commission and zero fees for trading or investing. However, this does not mean that they are completely free of costs. Both brokers charge spreads, which are the differences between the bid and ask prices of an instrument. Spreads vary depending on the instrument, market conditions, and account type. Both brokers also charge swaps, which are the interest rates applied to overnight positions. Swaps vary depending on the instrument, direction of the trade, and market rates. Both brokers may also charge conversion fees, withdrawal fees, or inactivity fees depending on the payment method and account activity. You should always check the fee schedule of each broker before opening an account or placing a trade.
- Account Types: This is another factor that influences your trading experience and preferences. SimpleFX offers two types of accounts: live and demo. Live accounts can be opened with just an email address and can be managed in various currencies, including cryptocurrencies. Live accounts can also be opened anonymously with cryptocurrencies. Demo accounts are virtual accounts that allow you to practice trading with $10,000 of virtual funds. Trading212 offers three types of accounts: Invest, ISA, and CFD. Invest accounts allow you to buy and sell stocks and ETFs with zero commission. ISA accounts are tax-efficient accounts that allow you to invest up to £20,000 per year in stocks and ETFs with zero commission. CFD accounts allow you to trade with leverage on various instruments with tight spreads. All accounts can be opened with a minimum deposit of £1 or equivalent.
- Trading Platforms: This is another factor that affects your trading convenience and functionality. SimpleFX offers its own web-based trading platform called SimpleFX WebTrader which is fast, intuitive, and customizable. Users can access the platform from any device with a web browser. SimpleFX also offers native mobile apps for iOS and Android devices which allow users to trade on the go. Both platforms support multiple languages, charts, indicators, and trading tools. Trading212 offers its own web-based trading platform as well which is smart, easy to use, and user-friendly. Users can access the platform from any device with a web browser as well. Trading212 also offers native mobile apps for iOS and Android devices which are highly rated and popular among traders. Both platforms support multiple languages, charts, indicators, and trading tools as well.
- Analytical Tools: This is another factor that enhances your trading knowledge and skills. SimpleFX provides various analytical tools for traders, such as market news, trading ideas, trading academy, dividend calendar, trading schedule changes, and more. Users can also access the SimpleFX blog which offers market analysis, tutorials, and tips on trading and investing. Trading212 provides various analytical tools as well, such as market news, economic calendar, price alerts, trading signals, trading academy, and more. Users can also access the Trading212 community which offers forums, blogs, podcasts, and videos on trading and investing.
As you can see, SimpleFX and Trading212 have many similarities but also many differences. Depending on your trading needs and preferences, you may find one broker more suitable than the other. You should always do your own research and due diligence before choosing a broker, as well as test their platforms and services with a demo account before risking real money.
