SimpleFX vs Paxful
SimpleFX | Paxful |
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4.2
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Paxful has closed.
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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. |
Paxful is a crypto trading exchange and digital wallet offering low fees and easy sign-up. |
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." | |
Pros | |
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Cons | |
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Awards | |
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Instruments | |
CFDs, Forex, Indices, Stocks, Commodities, Cryptos | Cryptos |
Demo Account | |
Yes | No |
Minimum Deposit | |
$0 | 0.005 BTC |
Trading Platforms | |
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Payment Methods | |
Minimum Trade | |
0.01 Lots | $10 |
Regulator | |
FSC | |
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 | Yes |
Spot Trading | |
No | Yes |
Mobile Apps | |
iOS, Android + WebTrader | Android & iOS |
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. |
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Android App Rating | |
3.8 |
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iOS App Rating | |
4.4 |
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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% | |
Islamic Account | |
No | No |
Account Currencies | |
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Stock Exchanges | |
Commodities | |
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. | Paxful offers buying and selling of the world's leading cryptocurrencies. |
Spread | |
45.57 | Rates set by vendors |
Coins | |
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Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
Yes | No |
Auto Market Maker | |
No | No |
Paxful has closed.
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