|Support Types||Email , Phone|
|Languages||English , Spanish|
|Trading Platform||MetaTrader 4, Web Trader, Tablet Trader, Mobile Trader|
|Minimum 1st Deposit||$5,000|
|Minimum Account Size||0$|
|Free Demo Account|
|Account Types||Mini , Standard , Exclusive|
|Deposit Methods||Credit card , Fast bank transfer , WebMoney , Wire transfer|
|Withdrawal Methods||Credit card , Fast bank transfer , WebMoney , Wire transfer|
|Number of Assets||500+|
|Types of Assets||Forex, Stocks, Indices, Commodities|
|US Traders Allowed|
- A variety of CFDs based on forex, stocks, indices, and commodities
- Support for multiple versions of MT4, one of the most popular trading platform
- Multiple educational resources for traders wanting to learn how to trade.
- A high initial deposit required even for the most basic trading account.
- No license or authorization for any major financial regulator.
- Limited features for mini account holders.
SimpleTRADES is a global forex and CFD broker that is dedicated to the creation of a secure and transparent trading place. The company has a team of online finance experts, dedicated to making the markets accessible to all types of traders, providing an array of training tools and personal service/support. Some of the core values are guaranteed security, innovative technology, regulatory compliance, and absolute fairness. SimpleTRADES has a comprehensive trading offer, which is why we want to analyze some of their features and then conclude whether it’s a broker worth working with.
In terms of trading platforms, the broker is still sticking to the most popular software in the world – MetaTrader 4. With both a desktop version and a Web Trader, SimpleTRADES wants to ensure that all clients will get access to their trading accounts at any point and from any device. MT4 is rapid and responsive, with instant trade execution, continuing to provide a choice of interactive charts and technical indicators. It’s fully customizable, allows automated Expert Advisors, and has multi-currency or multi-language capability.
Mobile trading is on the rise these days, which is why there’s support for both the iOS and Android devices. Clients working with SimpleTRADES can use MT4 on both tablet and smartphone to stay in touch with the markets while on the go. The app comes with next-generation charting tools inside the trading window, an exceptionally user-friendly and intuitive user interface, as well as instant trade execution via a robust, reliable platform.
Some traders may argue that the broker should cover some other trading software as well. MT5 or a proprietary platform could make the offer more diverse. However, MT4 had passed the test of time and continues to be the most reliable trading software. It’s important to note that SimpleTRADES provides 4 different versions of MT4, for desktop, browser, tablet, and smartphone, covering any type of device at any point, for maximum convenience of its customers.
There are three different account types currently available at SimpleTRADES, all with a different set of features. Clients wanting to work with this broker can choose between:
- Mini account
- Standard account
- Exclusive account.
A mini account is the most basic and requires a $5,000 minimum deposit. Some may argue it’s above the market average, but in exchange, traders will get access to spreads ranging from 2.3 pips, video tutorial library, and exclusive guides. More features are available for Standard account holders, which will enjoy daily market analysis and a personal dedicated account manager. Only Exclusive accounts will get access to SMS signals as well as premium specialist care. We believe SimpleTRADES could diversify its offer in terms of accounts, but even at this point, clients have three options available.
Forex, stocks, indices, and commodities are the markets available through the SimpleTRADES offer. Forex trading is enabled on many major, minor, and exotic pairs, with 1:200 leverage, and competitive fixed spreads. CFDs on some of the most popular global stocks (from the US, UK, Switzerland, Germany, and many other countries) are available with up to 1:10 leverage at floating spreads.
For traders looking for more liquid instruments, indices from the top stock markets are available, including the popular volatility index (VIX) and the US dollar index. The maximum leverage for indices is 1:100. Lastly, 2020 is a year when commodity prices are very active. As a result, SimpleTRADES covers more than 20 different commodities, ranging from gold, silver, oil, to copper, natural gas, and corn. With a 1:100 maximum leverage and floating spreads, trading CFDs on commodities is widely available.
Clients can deposit money via credit card, fast bank transfer, WebMoney, or Wire Transfer. To make withdrawals, they must pass the verification process, as SimpleTRADES is compliant with the Anti Money Laundering Policy. However, it’s good to see the company provides different options for clients to deposit funds.
To stay in touch with customers, SimpleTRADES provides support via phone or email. If you want to get information from a representative call at 442080897654, or send an email at email@example.com. Also, depending on the account type, some traders will get access to an account manager and that should be the third way of getting in touch with the broker.
We conclude that SimpleTRADES has a broad trading offer covering four different markets (forex, stocks, indices, and commodities) and provides access via the popular MT4 platform. Its services are for clients all around the world, without any restrictions. There are many different deposit/withdrawal methods and trading functionalities that should help traders in their day-to-day activity. Also, we should not forget the wide range of educational content available for registered clients, regardless of their account type.