SimpleFX vs Coinbase

SimpleFX vs Coinbase Comparison Table 2024
SimpleFX	Coinbase
Review 4.2	Review 1.4

SimpleFX is an online broker specializing in CFD and cryptocurrency trading, with multi-currency accounts, STP execution, low pricing and no minimum deposit. Bringing innovation and gaining recognition at numerous industry events since 2014, SimpleFX now caters to retail traders from over 190 countries, boasting a client base exceeding 200,000 active users.	Coinbase is a leading cryptocurrency exchange that provides access to 18,000+ crypto assets that can be traded on the marketplace, stored in a wallet or borrowed via the brand's DeFi function. The US-based firm has over 10 million clients and offers educational support to individual traders and tailor-made derivative products for businesses.
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Bonus Offer
	£5/$5 in BTC. Terms and Conditions Apply. See Review
Comment by Reviewer
"SimpleFX is ideal for users looking to deposit, trade and withdraw in popular cryptos such as Bitcoin and Ethereum. It also stands by offering its own SimpleFX Coin, providing rebates and exclusive perks to holders."	"Coinbase is a good option for dedicated crypto investors who want a vast selection of established and low-market-cap tokens. The platform makes it straightforward for new crypto investors to buy and sell Bitcoin in a few clicks."
Pros
SimpleFX’s proprietary WebTrader - powered by TradingView - delivers a stable day trading environment with a user-friendly interface that’s accessible even to novice traders. With MT4 support, experienced traders can access sophisticated charting tools, advanced technical indicators, customizable algorithms, and expert advisors (EAs) for automated strategies. SimpleFX underwent a revamp in 2021, now sporting a slicker client area with faster load times and a social trading community where you can exchange ideas. With leverage up to 1:1000, day traders have the potential to amplify their positions significantly, allowing for greater exposure to market movements and magnified returns (as well as losses). The range of cryptocurrencies available for trading is broad, encompassing well-known selections such as ADA, BTC, and ETH, as well as more specialized options like YFI, YFII, and ZEC.	Powerful purpose-built crypto trading platform with backtesting capabilities Well-regarded crypto exchange with thousands of tokens available One of the most trusted brands in the crypto space Fast execution speeds on the trading software Slick app with excellent customer feedback Margin trading available in some countries You can sign up in three quick steps
Cons
SimpleFX operates with weak regulatory oversight, allowing it to offer high leverage, but meaning it faces less stringent supervision from authorities compared to brokers like IG which operate in tightly regulated jurisdictions. While the Bloomberg TV news feed and economic calendar are valuable resources, the lack of research tools like Autochartist and Trading Central is a serious disadvantage for traders wanting support in identifying opportunities. The educational tools are okay but not great. The ‘Opinion’ section needs updating more frequently while video tutorials covering market analysis and risk management would be valuable additions for beginners. The availability of only a few non-crypto funding methods is a downside for traders seeking more diverse and convenient options for managing their accounts.	Coinbase trades don't take place anonymously Occasional bugs have caused issues on the system Lower safety score vs established crypto brokers
Awards
Best Support 2023, Crypto Expo Europe The Best Trading Platform Cryptocurrency, World Expo 2022 - Warsaw Best Mobile App 2020 - Rankia Awards The Best Trading Platform, Finance World Expo 2019 - Zug Best Cryptocurrency Trading Platform, Cryptocurrency World Expo 2018 - Berlin
Instruments
CFDs, Forex, Indices, Stocks, Commodities, Cryptos	Cryptos
Demo Account
Yes	No
Minimum Deposit
$0	$0
Trading Platforms
WebTrader MT4	AlgoTrader
Payment Methods
Bitcoin Payments Credit Card Ethereum Payments FasaPay Neteller Skrill Wire Transfer	ACH Transfer Apple Pay Credit Card Debit Card Google Wallet iDeal PayPal Sofort Visa Wire Transfer
Minimum Trade
0.01 Lots	0.0001 XBT
Regulator
FSC	CBoI
Margin Trading
Yes	Yes
STP Account
Yes	No
ECN Account
No	No
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
Yes	No
Robo Advisor
Yes	No
Negative Balance Protection
Yes	No
Market Maker
No	No
P2P Trading
No	No
Spot Trading
No	Yes
Mobile Apps
iOS, Android + WebTrader	Yes
App Review
SimpleFX provides a proprietary app for both Apple and Android mobile devices. The application boasts a user-friendly design, facilitating easy opening and closing of trades with access to the broker’s 220+ tradable assets. However, occasional unresponsiveness during testing, alongside an average charting package, means it won’t meet the needs of highly active traders.
Android App Rating
3.8
iOS App Rating
4.4
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No	No
Social Trading
Yes	No
Trade Signals
Yes
VPS Hosting
No	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
3%	$0
Islamic Account
No	No
Account Currencies
USD EUR GBP
Stock Exchanges
Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index Hang Seng IBEX 35 Japan Exchange Group London Stock Exchange Nasdaq National Stock Exchange Of India New York Stock Exchange Russell 2000 S&P 500 SIX Swiss Exchange
Commodities
Cocoa Coffee Copper Corn Cotton Gold Natural Gas Oil Palladium Platinum Silver Soybeans Sugar Wheat
CFD Trading
SimpleFX stands out with highly leveraged trading options up to 1:1000 covering popular asset classes, including stocks, indices, currencies and commodities. Additionally, the social community serves as an excellent resource for gathering CFD strategy tips and short-term trading ideas.	CFD trading not offered
Leverage
1:1000
FTSE Spread
1.3
GBPUSD Spread
1.2
Oil Spread
0.04
Stocks Spread
Variable
Forex Trading
SimpleFX provides a comprehensive selection of around 60 currency pairs, from majors like GBP/USD to exotics like CHF/PLN. Forex trading fees are competitive, averaging 0.9 pips on EUR/USD during testing, while MetaTrader 4, available on desktop, web and mobile, was built specifically for trading currencies online.	Forex trading not offered
GBPUSD Spread
1.2
EURUSD Spread
0.9
EURGBP Spread
1.0
Assets
57
Cryptocurrency
SimpleFX’s strongest offering is its crypto trading environment, with a growing range of tokens, including Bitcoin and Ethereum paired with the USD. Its crypto-based accounts also ensure a smooth trading experience for crypto enthusiasts, while the bespoke staking service allows capital to be utilized for margin trading.	With some 18,000 digital assets available to trade, Coinbase is one of the leading exchanges in the crypto world with a wider selection of tokens than most alternatives. Traders access crypto markets through a powerful platform and can enjoy margin trading in some jurisdictions. Maker and taker fees are low and there are no hidden account charges.
Spread
45.57	BTC 0.1%, ETH 0.1%
Coins
ADA APE ARB AVA BCH BNB DASH DOT EOS ETC ETH FET FIL INJ LNK LTC MATIC NEO SOL TIA WAVE XTZ YFI ZEC	BCH BTC ETH LTC XRP IOTA NEO EOS XMR FIL WBTC SHIB BNB
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
Yes	Yes
Auto Market Maker
No	No

Review	Review
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