SimpleFX vs Pocket Option

SimpleFX vs Pocket Option Comparison Table 2024
SimpleFX	Pocket Option
Review 4.2	Review 4.2

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.	Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
Customer Reviews
	4.3 Based on 7 Pocket Option customer reviews
Bonus Offer
	50% Deposit Bonus
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."	"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
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.	The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks Extremely fast and smooth sign-up process that takes less than 2 minutes
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.	The MISA is a weak regulator with limited investor protection for retail traders The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
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	Best Binary Broker Runner Up 2023 - DayTrading.com Best Binary Broker 2022 - DayTrading.com
Instruments
CFDs, Forex, Indices, Stocks, Commodities, Cryptos	Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
Demo Account
Yes	Yes
Minimum Deposit
$0	$50
Trading Platforms
WebTrader MT4	Web MT4 MT5
Payment Methods
Bitcoin Payments Credit Card Ethereum Payments FasaPay Neteller Skrill Wire Transfer	ADVcash Bitcoin Payments Credit Card Debit Card Ethereum Payments FasaPay JetonCash Maestro Mastercard Perfect Money Visa WebMoney Wire Transfer
Minimum Trade
0.01 Lots	$1
Regulator
FSC	MISA
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	iOS & Android
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.	Pocket Option delivers an excellent mobile trading experience directly through mobile and tablet browsers, without needing a native app. You can easily customize charts using the settings at the top while placing trades in one click is a breeze using the ‘higher’ and ‘lower’ buttons at the bottom of the screen. The interface also adapts seamlessly to horizontal viewing, mirroring the desktop layout for a consistent user experience.
Android App Rating
3.8	4.2
iOS App Rating
4.4	4
Auto Trading
Expert Advisors (EAs) on MetaTrader	Yes
Copy Trading
No	Yes
Copy Trading Platform
	Pocket Option hosts a user-friendly social trading service. Available in the platform, you can use the ‘Top Ranked Trades’ leaderboard, among others, to find traders to follow. The social trading solution is also available 24/7 and has active community chats. Tip: check the number of trades made and profit generated over several months rather than comparing providers over a few days.
Social Trading
Yes	Yes
Trade Signals
Yes	Yes
VPS Hosting
No	No
Tournaments
No	Yes
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	USD
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	Australian Securities Exchange (ASX) CAC 40 Index France DAX GER 40 Index Dow Jones Euronext FTSE UK Index IBEX 35 Japan Exchange Group Nasdaq New York Stock Exchange S&P 500
Commodities
Cocoa Coffee Copper Corn Cotton Gold Natural Gas Oil Palladium Platinum Silver Soybeans Sugar Wheat	Gold Natural Gas Oil Palladium Platinum Silver
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.	Binary and OTC options can be purchased on 40+ currency pairs, with 55+ currency pairs available if you deposit $1000. Typical payouts are reasonable at 81% and the $1 minimum trade makes the broker accessible to new forex traders. There is also access to the MT4 and MT5 platforms for experienced forex traders.
GBPUSD Spread
1.2	N/A
EURUSD Spread
0.9	N/A
EURGBP Spread
1.0	N/A
Assets
57	55+
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.	Pocket Option offers a modest crypto offering with 10+ digital currencies including Bitcoin and 65+ tokens if you deposit $1000. The integrated analytics feature in the platform is helpful for finding opportunities, while the daily signals service makes it straightforward to act on short-term crypto opportunities.
Spread
45.57	N/A
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	BTC ETH BCH LINK AAVE ALGO TLM ALPP ANT AVAX AXS BNB ADA CHZ COMP ATOM DASH MANA DGB DOGE ENJ EOS FIL GLMR ILV ICP KAVA LTC MKR MASK MIOTA XMR ALICE NEAR NEO NULS OMG DOT MATIC QTUM REEF XRP SANTOS SC SOL STX XLM STORJ DATA SUN XTZ SAND THETA TRX UNI VET WAVES YFI YGG ZEC
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
Yes	No
Auto Market Maker
No	No
Binary Options
Binary options trading not offered	Pocket Option offers ultra-short-term binaries from 5 seconds on one of the simplest web platforms for beginners. Payouts rival alternatives at 90%+ while the ‘Double Up’ and ‘Rollover’ features provide further opportunities to profit. Considering the negatives, the suite of 130+ assets trails binary brokers like Quotex, which offer 400+.
Payout
	92%
Expiry Times
	5 seconds - 4 hours
Ladder Options
No	No
Boundary Options
No	No

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