SimpleFX vs Wahed Invest

SimpleFX vs Wahed Invest Comparison Table 2023
SimpleFX Wahed Invest
4.2
3.1

Wahed Invest is #37 in our broker rankings.

United States Flag Traders from US not accepted
United States Flag Traders from US accepted

SimpleFX is an offshore forex, CFD and cryptocurrency broker with over 200,000 clients globally. The broker offers a proprietary trading solution, as well as the reputable MT4 platform. Traders can access a vast selection of digital assets with crypto deposits and multi currency accounts.

Wahed Invest is an ethical investment platform and robo-advisor aimed at Muslim investors. The firm is overseen by the Sharia Review Bureau, offering a range of stocks, ETFs, sukuk and gold. With a reasonable $100 minimum deposit and strong regulatory oversight, the firm has become an accessible option for over 200,000 investors.

Comment by Reviewer
"SimpleFX is best for crypto traders looking for staking services and a social trading community to exchange ideas and signals." "Wahed Invest is a great option for Muslim traders looking to invest in ethical securities with straightforward pricing and flexible risk parameters."
Pros
  • API & VPS support
  • SimpleFX crypto coin
  • Fast customer service
  • Beginner-friendly platform
  • Multi-currency single account
  • Lightning fast Bitcoin payments
  • Community forum to share trading ideas
  • Crypto staking solution with no starting deposit
  • Commitment to ethical investing with rigorous screenings, plus Waqf practices to ensure income generated from assets is donated
  • The broker's fee covers all custodian fees and transaction fees and traders are never charged for account balances of zero
  • Strong regulation by the SEC in the US and the FCA in the UK, plus membership with the Shariah Review Bureau
  • Six flexible investment portfolio styles, from Very Conservative to Very Aggressive, plus a rebalancing service
  • Engaging blog featuring Islamic finance education and awareness, updated regularly
Cons
  • Weak regulatory oversight
  • No MetaTrader 5 integration
  • Limited non-crypto funding methods
  • Platform is not as advanced as other competitors
  • Higher fees than other investment firms
  • Bank card funding not available
  • $100 minimum withdrawal
  • No live chat support
Awards
  • 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
Forex, indices, shares, commodities, cryptocurrencies Stocks, Sukuk, Gold
Demo Account
Yes No
Minimum Deposit
$0 $100
Trading Platforms
  • MT4
  • Own
Payment Methods
Minimum Trade
0.01 Lots Variable
Regulator
SEC, SRB
Margin Trading
Yes No
STP Account
Yes No
ECN Account
No No
DMA Account
Yes 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 Yes
Negative Balance Protection
Yes No
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS, Android + Web Trader iOS & Android
Auto Trading
Yes Robo-advisor
Copy Trading
No No
Social Trading
Yes No
Trade Signals
Yes
VPS Hosting
Yes No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No Yes
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
3%
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • USD
  • GBP
  • MYR
Stock Exchanges
Commodities
CFD Trading
Go long or short on over 170 CFDs with high leverage up to 1:500. The broker's social community is also a great place to pick up CFD strategy tips and trading ideas. CFD trading not offered
Leverage
1:500
FTSE Spread
1.3
GBPUSD Spread
1.2
Oil Spread
0.03
Stocks Spread
Variable
Forex Trading
SimpleFX offers a competitive suite of 60 forex pairs with average spreads of 0.9 pips. The charting features are extensive, with convenient mobile and desktop access for all experience levels. Forex trading not offered
GBPUSD Spread
1.2
EURUSD Spread
0.9
EURGBP Spread
0.9
Assets
60
Cryptocurrency
SimpleFX offers popular crypto coins including Bitcoin and Ethereum paired with the USD. Traders benefit from feature-rich analysis tools as well as a bespoke staking service where capital can be used for margin trading. Crypto trading not offered
Spread
From 0.0001
Coins
  • BTC
  • BHC
  • LTC
  • ETH
  • ETC
  • XRP
  • LNK
  • WAV
  • XTZ
  • YFI
  • ADA
  • DOT
  • EOS
  • NEO
  • BNB
  • XMR
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
Yes No
Auto Market Maker
No No
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