Simpletradex has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
Customer support at Simpletradex seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Personal attention|Comprehensive tools|Dividend tracking
Cons: Limited demo account features
I joined Simpletradex through word of mouth in my investment club and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Low minimum deposit|Transparent fees|Clean UI
Cons: Limited cryptocurrency options|No integrated tax optimization
After spending for about eight months trying to make Simpletradex work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Professional team|Market news feed|Detailed reporting
Cons: Live chat only during business hours
Tried to withdraw my funds from Simpletradex and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: No regulatory oversight|Money disappeared|Fake testimonials