[ANN] SimpleFX.com - forex broker with BTC and LTC crosses and 1:500 leverage

[SimpleFX]

Good to see support team is active here responding, i have one question i have tried to deposit 0.01BTC to try out simplefx with metatrader trading software, i successfully connected it with meta but why i couldn't open any position in both simplefx trading and metatrader platform. I get insufficient balance message everytime when i select buy or sell.

What is minimum amount of BTC we should have to start trading?

Please check required margin for any symbol, it shows minimum amount to open a trade. For example, for 0.01 size EURUSD required margin is 0.003 BTC, but for 0.01 size BTCUSD required margin is 0.1 BTC.
 

[1715034343]

1715034343

[1715034343]

1715034343

[1715034343]

1715034343

[Serpens66]

how to place limit orders? (although liquidity is good, placing market orders is too dangerours... got not the price the engine was showing me when I hit "sell"...)

So e.g I want to go short if price reaches 1.05 EUR/USD.
I tried it with "pending orders" but this seems to be something different? Although my pending order should be filled, it was still in the pending order tab. So it seems it is not the same like "limit order".

[SimpleFX]

how to place limit orders? (although liquidity is good, placing market orders is too dangerours... got not the price the engine was showing me when I hit "sell"...)

So e.g I want to go short if price reaches 1.05 EUR/USD.
I tried it with "pending orders" but this seems to be something different? Although my pending order should be filled, it was still in the pending order tab. So it seems it is not the same like "limit order".

Hello,

Exactly, please use Pending Order. You just fill the activation price and direction (BUY or SELL). The system will automatically set is as stop or limit order.

Check here for video tutorial: https://youtu.be/JyYUKby5o-U

In case of further question please talk to our LiveSupport on the website.

[Serpens66]

thx.

Do you also have "stop limit" order?
I mean the EUR/USD is now ~1.042
And I would like to initiate now the request to "go short, if the EUR/USD price goes below 1.039".

Edit:
And do you have an overview over all your pairs with the 24h change in %? I mean similar to poloniex:
https://poloniex.com/exchange#btc_eth
You see here on the right a list of all the pairs. And next to them you see the "change" which indicates volatility.
Also you can see the volume of past 24 hours, which is a good indicator of the interest in this pair.

It would be really helpful, if you could add these two things also to simplefx, to have indicators which pair has more interest as usual and which did a big price move.

[SimpleFX]

thx.

Do you also have "stop limit" order?
I mean the EUR/USD is now ~1.042
And I would like to initiate now the request to "go short, if the EUR/USD price goes below 1.039".

If you place Pending Order with direction SELL and open price 1.0390 then it will work exactly as you say.

Edit:
And do you have an overview over all your pairs with the 24h change in %? I mean similar to poloniex:
https://poloniex.com/exchange#btc_eth
You see here on the right a list of all the pairs. And next to them you see the "change" which indicates volatility.
Also you can see the volume of past 24 hours, which is a good indicator of the interest in this pair.

It would be really helpful, if you could add these two things also to simplefx, to have indicators which pair has more interest as usual and which did a big price move.

Unfortunately not, but it will probably be available in the future generation of our platform.

[Serpens66]

thx.

Do you also have "stop limit" order?
I mean the EUR/USD is now ~1.042
And I would like to initiate now the request to "go short, if the EUR/USD price goes below 1.039".

If you place Pending Order with direction SELL and open price 1.0390 then it will work exactly as you say.

?! Then I misunderstood something.
There is a difference between "Limit Order" and "Limit Stop Order".

- A limit order is an order that will rest in an "orderbook" at the given price (I know there is no orderbook at simplefx, but that does not matter). It is active as soon as you made the request. In case of an limit sell order, if the chosen price is lower then the acutal market price, a limit order will act as an market order up to the chosen price and if there is an restamount, this restamount will rest in orderbook.
Example:
EUR/USD is at 1.042. When I place a limit sell order for 1.04 it will sell the whole amount immediately, up to 1.04. If there is still an amount left, the order will rest at 1.04 until someone else buys them at this price.
Usage:
The EUR/USD price is fluctuating between 1.042 and 1.041. The price changes quickly every second. I would like to sell for 1.042, not for 1.041. With the "market order" it is very hard to get the better price. Here I would need the limit order, to make sure I get 1.042.

- A limit stop order works different. It is not active right after the request. It will become an active limit order, as soon as the Stop price is reached. Usually you have the "Stop price" and a "limit price". A limit order is placed at limit price as soon as the stop price is reached.
Example:
EUR/USD is at 1.042. When I place a limit stop sell order for a stop price of 1.04, I don't want to sell now. I want to sell, as soon as the market price goes below 1.04. If I did not specified an additional limit price, it will be a market price sell.
Usage:
I think 1.04 is an important number and in case the price goes below it, it might go down much further. So I only want to sell, if the price goes below 1.04.


You told me now, that your "pending order" is the same like limit order and the same like stop limit order. But since these are two different mechanics, that can't be true?!
Could you please describe how a pending order works, using the description pattern I used above? I would like to be able to place both kind of orders at simplefx.

Unfortunately not, but it will probably be available in the future generation of our platform.

would be great

[Serpens66]

I added examples and usage to my previews post

[SimpleFX]

thx.

Do you also have "stop limit" order?
I mean the EUR/USD is now ~1.042
And I would like to initiate now the request to "go short, if the EUR/USD price goes below 1.039".

If you place Pending Order with direction SELL and open price 1.0390 then it will work exactly as you say.

?! Then I misunderstood something.
There is a difference between "Limit Order" and "Limit Stop Order".

- A limit order is an order that will rest in an "orderbook" at the given price (I know there is no orderbook at simplefx, but that does not matter). It is active as soon as you made the request. In case of an limit sell order, if the chosen price is lower then the acutal market price, a limit order will act as an market order up to the chosen price and if there is an restamount, this restamount will rest in orderbook.

- A limit stop order works different. It is not active right after the request. It will become an active limit order, as soon as the Stop price is reached. Usually you have the "Stop price" and a "limit price". A limit order is placed at limit price as soon as the stop price is reached.

You told me now, that your "pending order" is the same like limit order and the same like stop limit order. But since these are two different mechanics, that can't be true?!
Could you please describe how a pending order works, using the description pattern I used above? I would like to be able to place both kind of orders at simplefx.

Unfortunately not, but it will probably be available in the future generation of our platform.

would be great

Our Web platform uses order mechanism from MetaTrader4. There are 4 types of Pending Orders:

Buy Limit – The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase;
Buy Stop – The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing;
Sell Limit – The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having increased to a certain level, will fall;
Sell Stop – The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on falling.

And how do they work in practice? When order price is reached, the order becomes market order, so it is sent to the market and being executed (whole order) at the best available price. Open price which you set in pending order does not guarantee that order will be executed at this price.

[Serpens66]

Our Web platform uses order mechanism from MetaTrader4. There are 4 types of Pending Orders:

Buy Limit – The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having fallen to a certain level, will increase;
Buy Stop – The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on increasing;
Sell Limit – The current price level is lower than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having increased to a certain level, will fall;
Sell Stop – The current price level is higher than the value of the placed order. Orders of this type are usually placed in anticipation of that the security price, having reached a certain level, will keep on falling.

And how do they work in practice? When order price is reached, the order becomes market order, so it is sent to the market and being executed (whole order) at the best available price. Open price which you set in pending order does not guarantee that order will be executed at this price.

Okay, if I understood it correctly, you transform a limit buy order into a limit stop buy order, if "current price level is lower than the value of the placed order".
I thought the follwing usecase would not be possible with that:

Usage:
The EUR/USD price is fluctuating between 1.042 and 1.041. The price changes quickly every second. I would like to sell for 1.042, not for 1.041. With the "market order" it is very hard to get the better price. Here I would need the limit order, to make sure I get 1.042.

But I think it is still possible, when simply placing a pending sell order at 1.042... but I'm not 100% sure, since this does mean "if price reaches 1.042, make a market order". So in fact I could get a worse price than 1.042 ? So is there a way to make sure I get exactly the price of 1.042?

[MaffeProg]

Hi when comes more stocks? such as the whole spx but then every stock of the company. When comes bonds and usd index? or the vix?

[SimpleFX]

So in fact I could get a worse price than 1.042 ? So is there a way to make sure I get exactly the price of 1.042?

That is correct, 1.042 is only the activation price, the execution price depends on the market and there is no way to make sure what this price will be.

Hi when comes more stocks? such as the whole spx but then every stock of the company. When comes bonds and usd index? or the vix?

Hard to say, but there will definitely be new instruments. Futures like USDI, USVIX, bonds etc. are first in the line.

[danshan11]

they have large spreads and if you margin trade and dont calculate the spreads BEFORE you place the order.  immediately simplefx will accept the trade liquidate you the next second and keep your btc. any reputable site wont accept the trade and will not accept the order because it would be instantly liquidated. It is a huge scam and they said that is how their system works and I bet they steal peoples coins with this everyday all day.  It is a very slick thing they have.  If you want proof I can gladly send it over.

[SimpleFX]

We are sorry to hear that you took a loss. Trading financial markets is risky and you should never use your whole account as a margin. Reasonable would be to use 5-10% of your account as margin and keep the rest as a backup. You opened a position using your whole account, that is why you got stopped out in few seconds.

[danshan11]

very funny
the trade closed as soon as it opened because of the high spread.   the trade opened and closed the same second.  any reputable exchange would not allow trade to open that would be immediately cancelled and coins kept, dont say seconds later it closed because of price change that is 100% not true.  you allow people to open trades that will immediately closed just because of the spread and leverage position.  That is bad business.  Any reputable site would not allow that.  my trade closed immediately as it opened  it closed IT WAS NOT A PRICE CHANGE.  this trade should not have been allowed to be opened,  the system should give me an error and not accept the trade and take my money.

[danshan11]

you are trying to make it sound like I invested and loss and started crying and that is 100% not true.  100% scam or an issue that should be fixed not "oh trading is risky and sometimes you lose"  POOR POOR  BUSINESS.  I am glad my BTC is gone and I will never be back and I am spreading the word about this loophole scam that your business is running and 100% aware of.   OH BTW if you have a problem you can dispute it but the simplefx support said the same thing. "we dont set spreads, they are set by our liquidators".  Trading is risky everyone knows that but getting ripped off is what I call a scam.  I invest and if the price drops and I play long and my  reserve runs out great bad luck but not some programming loophole that they take advantage of and dont fix.  why would someone open a position on a big spread that is immediately cancelled and just give up their btc,  I know why because they did not calculate it or did not calculate it correctly and you say good trader is an idiot take his money in 1 second, hope he does the same thing again. 

[SimpleFX]

danshan11 we apologize for any inconvenience. Please file an official complaint at official Support Centre: https://simplefx.com/support/. Please provide an account number, order number, explanation of your issue and your expectations. Your complaint will be reviewed by Complaint Department and you will receive a quickly reply.

[truimpheriues]

how much levarage in cryptco coin pair
and support trading use meta trader4(MT4)

[SimpleFX]

Effective leverages for crypto: Bitcoin, Ethereum, Ethereum Classic up to 10x, Litecoin up to 16.6x

Yes, we offer MetaTrader 4, here you can download it: https://simplefx.com/downloads/
MT4 guide: https://simplefx.com/resources/SimpleFX_MT4_Quick_Guide.pdf
MT4 login manual: https://simplefx.com/resources/SimpleFX_MT4_And_MT4_Mobile_Login_Manual.pdf

[danshan11]

@simplefx why are you afraid to talk about it here?  you know what happened explain it to me and the others for full disclosure.

[SimpleFX]

Market spreads are floating, spreads on exotic pairs are usually bigger than on majors, plus holiday season causes less liquidity which also affects spreads. There was no glitch or scam, you entered a position using 100% of your account balance, just a little swing in price could cause a stop out, even a second after you opened a trade.

But if you want your case to be investigated, you should file a complaint as we mentioned before.