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Webull vs SimpleFX

Webull vs SimpleFX Comparison Table 2024
Webull SimpleFX
Review
4.4
Review
4.2

Webull is a multi-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC, FINRA and FCA and continues to uphold a strong trust rating. Low fees, no minimum investment and generous welcome bonuses have made the discount broker popular with online investors.

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.

Bonus Offer
Up to 12 free fractional shares when you deposit $100
Comment by Reviewer
"Webull is best for traders looking to buy and sell stocks on a user-friendly platform with zero commissions. The intuitive app also makes this broker great for mobile investors." "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
  • The Smart Advisor tool facilitates a more hands-off approach to investing, with low minimum investments and automatic rebalancing
  • The $0 minimum deposit and availability of fractional shares make broker highly accessible for beginners and those on a budget
  • The flagship charting platform offers comprehensive analysis tools including 60+ indicators, plus deep fundamental data
  • Webull maintains its strong reputation, with regulation by in the US and UK and a clean track record
  • Webull is a low-cost broker, offering commission-free trading on many assets and zero inactivity fees
  • Alongside the investment account, the broker offers IRAs for those with long-term financial goals
  • The broker offers free stocks to newly registered investors
  • 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.
Cons
  • There are relatively high deposit and withdrawal fees for non-US residents, including a $45 charge for international wire withdrawals
  • There’s a narrow range of payment methods available compared to competitors, with just ACH, ACATS and wire transfers available
  • There’s only one platform on offer, with no additional third-party tools
  • 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.
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
Forex, Stocks, ETFs, Cryptos, Options CFDs, Forex, Indices, Stocks, Commodities, Cryptos
Demo Account
Yes Yes
Minimum Deposit
$0 $0
Trading Platforms
  • Desktop App
  • Web Terminal
  • WebTrader
  • MT4
Payment Methods
Minimum Trade
0.00001 (Fractional Share) 0.01 Lots
Regulator
SEC, FINRA, FCA FSC
Margin Trading
Yes Yes
Margin Rate
5.49% - 9.49%
STP Account
No Yes
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
No Yes
Robo Advisor
Yes Yes
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
iOS & Android iOS, Android + WebTrader
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
No Yes
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
$0 3%
Islamic Account
No No
Account Currencies
  • USD
  • USD
  • EUR
  • GBP
Stock Exchanges
Commodities
CFD Trading
CFD trading not offered 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.
Leverage
1:4 1:1000
FTSE Spread
1.3
GBPUSD Spread
1.2
Oil Spread
0.04
Stocks Spread
$0 Variable
Forex Trading
Webull offers a small range of 17 currencies - far fewer than the 40+ offered by most competitors. Forex can be traded on the feature-rich investing app, offering 50+ customizable indicators plus dozens of technical signals. Beginners can also utilize demo mode with unlimited virtual cash. 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.
GBPUSD Spread
0.4 1.2
EURUSD Spread
0.2 0.9
EURGBP Spread
0.4 1.0
Assets
15+ 57
Cryptocurrency
Webull offers trading on 8 popular cryptos through its Webull Pay app, including Bitcoin, Litecoin and Shiba Inu. The broker charges a 100bps (basis points) markup on the price, although there is no minimum equity requirement or commission fee. 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.
Spread
Floating 45.57
Coins
  • BTC
  • BCH
  • DOGE
  • ETC
  • ETH
  • LTC
  • SHIB
  • USDC
  • ADA
  • APE
  • ARB
  • AVA
  • BCH
  • BNB
  • DASH
  • DOT
  • EOS
  • ETC
  • ETH
  • FET
  • FIL
  • INJ
  • LNK
  • LTC
  • MATIC
  • NEO
  • SOL
  • TIA
  • WAVE
  • XTZ
  • YFI
  • ZEC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
No No
Review
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