SimpleFx review - 1Broker alternative
After 1Broker suspended trading I've heard SimpleFx, another broker that allows trading forex, stocks, commodities, indices, precious metals and equities and crypto with leverage using crypto as deposit method.
It has multiple deposits options like Fiat (Skrill, Neteller, Fasapay and others) and Crypto (Bitcoin, BitcoinCash, Dash, Etherum and Litecoin).
If you deposit crypto you can withdraw crypto without identity verification which may be a good thing. You don't get to share personal information with another entity.
The not so good part is that SimpleFx is a market maker. This means that all the orders are made only in the SimpleFX system and are not sent to the actual big market, where banks can trade. This results in an easier manipulation of the market.
They mimic the true market prices but they are not 100% exact as some orders may take place that don't have the same balance as they would be made on the open market.
This may be a problem when you have tight stop losses but I've overcome this problem by setting TradingView alarms at stop prices and by having a Premium account, I've chose those alarms to be sent to SMS.
If you think becoming Premium on TradingView, consider reading my previous article TradingView PRO, PRO+, Premium packages with 50% discount.
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