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

[danshan11]

the trade closed instantly it was 100% not on price change it was purely on spread.  I should have gotten an error and not been allowed to open that trade.  I am pro trader on LBC and I will take this to the forum there and anywhere else that will listen to me and BTW no one from simplefx has responded to my dispute as of yet been 2 days now. scam scam scam
http://imgur.com/a/UY6Oc  this simplefx person on the forum here is either not informed or is lying.  you can see clearly the price could not have changed to close a position in less than 1 second.  they stole the coins purely on the spread.

[1713873690]

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[1713873690]

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[SimpleFX]

@danshan11, take into consideration that the trade must be investigated thoroughly. Going though log files is time consuming, so please be a little bit more patient.

[danshan11]

so since you have time to answer here please explain using that imgur I uploaded

[SimpleFX]

so since you have time to answer here please explain using that imgur I uploaded

You opened 1.4 lot position. 400 points in price change was enough to stop out your position.

So you opened a position where 400 points in price change can kill your account, on the exotic market where spread reaches 1600 points during least liquid periods...

[kuroneko2015]

Hi
The FAQ says that the Stop Out level is 30% of Margin level

If I have 0.15 BTC in my account
Then I trade on BTC/USD (Symbol effective leverage = 1:10)
Required margin = 0.1 BTC
Trade value = 1.0 BTC
Then the free margin in my account = 0.05 BTC (and keep changing)

Does this means if I loss more then 0.05*70%=0.035 BTC
Then the order will Stop Out and force close?

Or means that if I loss more then 0.1*70%=0.07 BTC
Then the order will Stop Out and force close?

Thanks!

[MaffeProg]

so since you have time to answer here please explain using that imgur I uploaded

You opened 1.4 lot position. 400 points in price change was enough to stop out your position.

So you opened a position where 400 points in price change can kill your account, on the exotic market where spread reaches 1600 points during least liquid periods...

Haha this guy need to know more about CFD. How stupid can you be to trade with 1.4 lot. Thats only possible if you have over 100 btc or 100.000 dollar.

[danshan11]

been a week now and still no reply for my complaint.  yes you are 100% right that the spread caused my btc to be taken.  Thanks for the trade and you are 100% a scam, maybe not entirely but you are abusing and I am sure using that spread to clean peoples accounts out.

[SimpleFX]

Hi
The FAQ says that the Stop Out level is 30% of Margin level

If I have 0.15 BTC in my account
Then I trade on BTC/USD (Symbol effective leverage = 1:10)
Required margin = 0.1 BTC
Trade value = 1.0 BTC
Then the free margin in my account = 0.05 BTC (and keep changing)

Does this means if I loss more then 0.05*70%=0.035 BTC
Then the order will Stop Out and force close?

Or means that if I loss more then 0.1*70%=0.07 BTC
Then the order will Stop Out and force close?

Thanks!

Hello, Stop out happen when your account equity drops below 30% of required margin. So if you have 0.15 BTC in your account and open position for which required margin is 0.1 BTC, your account equity needs to drop below 0.03 BTC (which is 30% of 0.1 BTC), so your loss will be about 0.12 BTC.

[SimpleFX]

been a week now and still no reply for my complaint.  yes you are 100% right that the spread caused my btc to be taken.  Thanks for the trade and you are 100% a scam, maybe not entirely but you are abusing and I am sure using that spread to clean peoples accounts out.

According to Our Terms of Business (https://simplefx.com/resources/SimpleFX_TermsOfBusiness(CFD).pdf) we have 30 days to answer to your complaint.

[danshan11]

why cant I withdraw I put a withdraw request in a week ago and still waiting for verification??? I put the request in dec 30th?? and it is still awaiting??

[danshan11]

my withdrawal address is now working thanks~ I will post if I have any problems withdrawing

[danshan11]

no problem on my withdraw

[SimpleFX]

no problem on my withdraw

We are glad to hear this, thank you for your feedback.

[freemanjackal]

is it a licensed broker? or just another one trying to get some money? 

[SimpleFX]

is it a licensed broker? or just another one trying to get some money? 

SimpleFX Ltd. is incorporated at Saint Vincent and the Grenadines under registered number 22361 IBC by the Registrar of International Business Companies and its operations are subject of the Saint Vincent law.

We are operating since 8th October 2014. Currently we are making all efforts to acquire FCA License but due to the fact that we offer Bitcoin & Litecoin accounts, the whole process is stretching over a long period of time as these institutions do not comprehend the whole of the process of Bitcoin transaction.

[danshan11]

whats up with your site ?  the server goes down every 30 minutes

[SimpleFX]

whats up with your site ?  the server goes down every 30 minutes

Hello, could you give us some more details? We did not notice any issues. Also for quick response please use our LiveSupport: https://simplefx.com/support/

[svesp15]

SimpleFX
Just wanted to send a word of thanks regarding your BTC/USD cfd.  I noticed you offer a positive swap for short positions.  Haven't seen this at other brokers -- a welcome surprise!   Aside from the bonus for short sellers, it is particularly helpful for bitcoin denominated accounts.  Sometimes I really want a break from the bitcoin volatility to focus on currency, stock index, etc positions.  Your BTC cfd allows me to put a hedge on my account without penalty.  Was able to use this feature to lock in account value around $1000 BTC/USD price, rather than withdraw the funds. 

I hope you will continue to offer this positive swap in the future.  If not, a zero swap BTC short would also work.  Again, thank you!

[vk279]

Hello Simplefx,
I am wondering if you offer any PAMM accounts?
If not what are the alternatives?

Thanks

[ruselbd]

I WANT TO TEST THIS PLATFROM DO YOU HAVE DEMO ACCOUNT?