SimpleFX review

Key facts

Indicative figures — spreads are variable, commissions and minimum deposits vary by account type and by the regional entity serving you. Confirm current terms on SimpleFX’s website. Last reviewed: 2026-07.

Our verdict on SimpleFX

SimpleFX has no recognised financial regulator supervising the entity that contracts with you, no investor compensation scheme and no financial ombudsman, and it deals as principal — it is the counterparty to your trades. Low friction to open and no minimum deposit do not offset that structure, and it discloses that 78% of retail accounts lose money.

Watch out:No recognised financial regulator supervises the entity you contract with, there is no compensation scheme and no ombudsman, and SimpleFX deals as principal against its own clients. If a dispute or a withdrawal problem arises, there is no external body with authority to resolve it for you.

Regulation: what is actually behind this account

Under the customer agreement dated 12 July 2026, your counterparty is 8tech PA LLC, a Panama IBC licensed by KUNAISA — a body created by an indigenous-territory assembly in 2026, not Panama's national securities regulator, the SMV. There is no investor compensation scheme and no financial ombudsman attached to that arrangement. Group licences in Mauritius (FSC) and South Africa (FSCA) do not cover this entity: the Mauritian company does not serve crypto clients, and the FSCA registration is a South-Africa-only crypto-asset registration.

SimpleFX also deals as principal, meaning it is the counterparty to your trades rather than passing them to a market. Combined with the absence of a recognised supervisor, that removes the checks most traders assume exist by default — no external body reviewing conduct, no scheme paying out if funds are not returned, no ombudsman to escalate a dispute to. Third-party reports of withdrawal delays and undisclosed crypto withdrawal fees are exactly the category of problem that a regulator would normally exist to address. Here, there is no such route.

Access, pricing and how it compares

Eligibility is heavily restricted: US Persons, Canada and Japan are excluded along with around 35 further jurisdictions including Germany, Italy, Poland, Romania, Switzerland and Singapore. SimpleFX states it does not market to the EU, EEA or UK, so clients there receive no FCA or ESMA protections, no leverage caps and no compensation cover. If you are in one of those regions, the absence of marketing is not the point — the absence of the protections that come with being marketed to lawfully is. Read the exclusion list before anything else.

On pricing there is no commission and floating spreads, with EUR/USD tested around 0.9 pips by third parties; SimpleFX publishes no spread table of its own, so there is no reference you can hold it to. Overnight swap fees and withdrawal fees apply. MetaTrader was withdrawn in July 2024, leaving proprietary web, desktop and mobile apps only. Every regulated CFD broker in this list — Pepperstone, IC, IG, eToro — offers comparable instruments with an identifiable supervisor and a disclosed cost structure.