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SimpleTrades Review: Is Simpletrades.com a Scam?

SimpleTrades Review: Is Simpletrades.com a Scam?

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SimpleTrades (Simpletrades.com) is a CFD and forex provider founded in 2018 which claims to offer professional trading in a simple way. Are these claims true when it comes to online trading? We decided to investigate its services and by the end of this review, we hope to provide an answer. Read our detailed and reliable SimpleTrades review and get the truth.

Simple Trades Platforms

SimpleTrades Review:

There had been a lot of debate regarding this offer, which is why we’ve decided to investigate the broker and get to the bottom. This eye-catching review will shed light on the services provided by SimpleTrades. We provide our reviews to make traders safe from scam companies, but in this case, the proofs don’t point out the broker has any intention to work against its clients.

Details found on the website provide more info about all the services available. Aside from the legal documents, plenty of details regarding the assets, platforms, and other trading features are available. Before signing up with Simple Trades, it’s best for you to read our review until the end, to have a detailed picture of all the trading functionalities available.

About SimpleTrades

 

SimpleTrades is an offshore broker with a solid reputation, the company operates since 2018, and to this very exact point, the company enjoys a respectable image among traders. As we know this is not always the case with several other offshore brokers, but based on our research and analyses regarding the case of SimpleTrades we can state it’s reliable brokerage company, it’s fully regulated forex and CFD’s broker, and considering the high number of resources they invested for their safety of their customers which can defiantly say something about the company’s approach.

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It would have been better if some more general information about the mother company would have been provided on the official website, but that’s definitely something SimpleTrades can handle even from now on. Let’s talk about how the broker is regulated.

Is SimpleTrades Licensed?

At the time of writing, SimpleTrades is yet to be fully licensed, but it does have AML and KYC policies in play. Also, according to its website, the company is providing SSL protection and certified payment providers. It claims to have a sterling reputation as a totally transparent, fully regulated broker and has raised the bar higher, in creating a completely trusted online trading space so you can trade the markets with peace of mind. The company should aim to achieve authorized regulations in the future.

Platform Used

Simple Trades Accounts

SimpleTrades are promoting the use the MT4 platform as their preferred tool of trading. To test how well their platform works, we decided to download their MT4 platform. A good platform should be compatible with all devices and that’s the case with this one. The version provided by the broker is compatible with desktop devices and mobile. At the same time, there is a web-based version available, that does not require any installation.

MetaTrader 4 is rapid and responsive, with instant trade execution. It provides a choice of interactive charts and technical indicators. Highly versatile and providing multiple order types, traders can benefit from a simple setup for immediate trading. The Simple Trades version has the multi-currency and multi-language capability and it fully customizable, with automated Expert Advisors. The tablet trader and mobile trader are two versions of MT4 that can be installed on Android or iOS devices, to trade the global markets from any location, with a highly responsive user-friendly platform.

Account Funding

When it comes to funding accounts, this broker had made sure numerous options are available. And there’s a good reason why this broker has done so. They want to give users every opportunity to make deposits easy and fast. These account funding options include Visa and MasterCard. To compete with other related brokers, SimpleTrades currently provides a lot of options to make sure clients can deposit fast.

Simple Trades Account Types

Withdrawals are made via the same method used for deposit and at the same time, clients wanting to withdraw money from their account must pass through the verification process. That happens because Simple Trades has a KYC Policy in place.

Will SimpleTrades Guarantee Security of Funds?

According to the information provided by Simple Trades, the broker ensures the security of clients’ funds. It has robust firewalls shielding all data transmissions. Multi-layered SSL encryption protecting the integrity of trading accounts, a SAS 70 certified data center hosting simpletrades.com’s servers & securing data transfers. At the same time, the broker has level 1 PC1 certified Payment Service Providers safeguarding financial transactions.  These security features are mostly in line with the standards offered by most of the popular brokerage companies. This is an important aspect to consider when choosing a broker to work with.

Is SimpleTrades a Scam?

Based on our analysis combined with the information available on the web, we did not find any clear evidence suggesting Simple Trades is operating not on behalf of its clients. It is true the broker operating offshore, but considering this is its third year of existence, we can conclude the company wants to provide trading services for the long-term. Not honoring its promises will be detrimental to this goal.

Simple Trades also has an affiliate program to sensitize clients to bring their friends to work with the same broker. Feel free to check all the information about the program available at simpletrades.com. Also, make sure to read all the details regarding the services provided by this broker. Do it before deciding to open a trading account. In case our review missed certain critical details, feel free to comment in the section below.

SimpleTrades Final Verdict

Simple Trades Features

We can ensure our readers Simple Trades is a safe broker, which means there is no need to add it to our scam blacklist. This review should ensure our readers know what to expect with Simple Trades. We hope we’ve managed to provide all the relevant information about this broker. Additional detail can be found by visiting the official broker website and then analyze all the details provider there.

Finally, we wish you all the best in your forex trading experience.

 

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