About

This year SimpleFX has been really busy. In November its client base reached 100 000. They also introduced DASH and Bitcoin Cash as deposit cryptocurrencies, alongside Bitcoin, Litecoin, and Ethereum, which had already been available. Another development involved introducing Crypto Indexes, which give the traders higher liquidity, ultra-fast data feed, and faster order execution. SimpleFX also launched a mobile app earlier in the year for trading on the go.

Trading Pairs

SimpleFX offers over sixty currency pairs, sixteen cryptocurrency pairs, as well as indices (incl. NYSE, NIKKEI, DAX), equities (incl. Snapchat, Google, Facebook) and commodities (incl. Gas, Oil, Gold). On top of the five deposit cryptocurrencies, the traders can choose from fifteen deposit fiat currencies and flexible deposit options, such as Bank Transfer, Skrill, Neteller, Credit Cards.

SimpleFX makes every effort to ensure their traders' security. This is why they offer full anonymity cryptocurrency accounts that to not require KYC as well as having negative balance protection. The clients' funds are also kept on segregated accounts. SimpleFX has gathered a global trading community, spanning over 130 countries. Traders can use the live chat to instantly exchange opinions simply share a chart or even a spot of shitposting.

Opening A Trade

Opening a new trade on SimpleFX’s desktop web trader is relatively straightforward. For the sake of this example, let’s have a look at how to place a trade using Litecoin (LTC) however the process is the exact same for stocks and forex too.

In order to open a position with LTC, you ought to click on “Crypto” and select the LTCXXX pair that you want to open a trade for. For the sake of this example, we’ve chosen LTC trading against USD. Once you click on it, you will see an option to choose “New Order”. Clicking on it would get you to this screen:

Here, you can see that you’d have to choose whether you want to open a “Buy” or “Sell” position. You can choose the amount that you want to engage the market with, the trade value as well as the required margin. Additionally, you are also allowed to put a Stop Loss to prevent serious downfalls or, if you are set on a certain target price, you can use the “Take Profit” option.

Conclusion

Overall, SimpleFX is truly an innovative trading platform. Its a platform that is bridging the gap between traditional finance and cryptocurrency allowing anyone with Crypto to get easy access. Thats one of the original visions of crypto is it not? Banking the unbanked and tearing down the red tape creating a freer society for everyone.

SimpleFX: https://tinyurl.com/yc37oog5