Simpletradex

Do not be fooled by the professional-looking website. Behind the scenes, Simpletradex is disorganized and incompetent. I found them after a friend recommended them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.

I looked into Simpletradex and found they appear in the regulatory warnings database. Financial Conduct Authority has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.

Opened my account with Simpletradex from a blog post comparing services and regretted it within the first month. The platform crashed during a critical moment, I lost potential gains, and support basically told me it was not their problem. Absolutely unacceptable behavior.

Simpletradex changed their fee structure with one month notice. What was a flat fee became a percentage. For my account size it meant a huge increase. When I objected they said I could leave. So I am leaving and writing this review.

I had a dispute with Simpletradex and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.

Simpletradex has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.

Simpletradex offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.

I experienced a security concern with my Simpletradex account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.

I was about to invest with Simpletradex but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Conduct Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.

I was contacted by Simpletradex through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.