A contract-for-difference (CFD) broker says its platform is one of the first to operate in both crypto and fiat currencies — with a simple interface that’s designed to appeal to new and advanced traders alike.
SimpleFX says that it already boasts more than 200,000 active traders around the world and aspires to become “the go-to app for the new generation of mobile-first traders.” In order to achieve this objective, the company has added social features that deliver a social element to its platform — giving experienced traders an opportunity to gain influence, mentor their followers and earn a reputation.
Known as Trading Ideas, the feature enables traders to share their insights on movements in the stock markets, forex and crypto worlds. They can take snapshots of customized charts, write a comment about the trends they have uncovered, and broadcast it far and wide on social media.
Each Trading Idea link is attached to Unilink.io Affiliate Software, a solution used by the SimpleFX referral program. Whenever somebody clicks it and signs up for the platform, the account will be connected to the Unilink account of the user who published the Trading Idea. This means that for any trade ever made from the account registered via a Trading Idea, its creator will receive up to 25 percent of the spread, the company says.
Live quotes and chart widgets
Another new feature for website owners and bloggers works in a similar way. With SimpleFX live quotes and chart widgets, they can generate “free quality content” in a matter of clicks. Widgets are fully customizable and provide real-time quotes, charts and currency converters of all the trading symbols available on SimpleFX. Putting them on their sites, publishers and bloggers can capitalize on the millions of Google searches related to cryptocurrencies and forex that take place on a monthly basis.
The company believes its widgets will help websites to boost traffic, improve search rankings, keep readers engaged for longer and unlock new revenue streams. The widgets are also linked to the Unilink platform, and every account registered after clicking on them will generate revenue for the publisher, the team adds.
Making multitasking manageable
SimpleFX says it acknowledges that a significant number of users continue to trade on their laptops and desktops. In order to appeal to this group, the broker has unveiled its Multicharts feature, which enables the community to adapt and organize the main screen around their individual requirements. The dashboard can be divided into as many as six sections, giving users the power to program each one to display the symbols, chart types and time periods they rely on the most.
A modern CFD trading broker
SimpleFX argues that many well-established CFD brokers provide “outdated online trading tools” that are not in keeping with what sophisticated users demand and expect in today’s marketplace.
SimpleFX infrastructure is complemented by an API manager that offers a fully automated experience, all while delivering “constant stability in order to prevent uncertain situations in the market.” To eliminate delays, offer low latency and pave the way for the “fastest possible execution time” for users from any part of the world, SimpleFX is using trading servers spread around Europe, the Americas and Asia.
The platform says that it is able to offer its users 1:500 leverage, opening opportunities to “less affluent traders.” This is coupled with an easy-to-understand stop loss feature and negative balance protection. That said, it is worth noting that margin trading is not without risk.
Experimentation and testing are often key to a trader’s success, and to this end, the company adds that it offers a “fully functional demo account” so users can put a strategy through their paces before executing it in the real world. Bolstering the sense of community on its platform, SimpleFX also provides a shoutbox where traders can enjoy engaging discussions and ask questions to other users — giving them access to insights and experiences they may not find anywhere else.
The team notes that SimpleFX WebTrader won the competition for the best trading platform during the Finance World Expo Summit that took place on March 6 and 7 in Zug, Switzerland. The jury panel rewarded the trading app for “great usability on mobile devices,” “remarkable speed and reliability,” “responding to the user needs with new features” as well as “the strong and growing community of users.”