SimpleFX vs EagleFX

SimpleFX or EagleFX – which is better for UK traders 2024? Compare SimpleFX and EagleFX in this detailed breakdown of their platforms, features and fees.

SimpleFX vs EagleFX Comparison Table 2024
SimpleFX EagleFX
rating empty
rating full
4.2
rating empty
rating full
4.1
SimpleFX is ranked #71 among CFD brokers. EagleFX is ranked #30 among CFD brokers.
Review
Review
SimpleFX is an online broker specializing in CFD and cryptocurrency trading, with multi-currency accounts, STP execution, low pricing and no minimum deposit. Bringing innovation and gaining recognition at numerous industry events since 2014, SimpleFX now caters to retail traders from over 190 countries, boasting a client base exceeding 200,000 active users. EagleFX is a forex and CFD broker, established in 2019. The broker uses STP execution on the MT4 platform, offering tight spreads and low commissions. With leverage up to 1:500 and no restrictions on hedging or scalping, EagleFX is an attractive option for short-term traders.
Pros
  • SimpleFX’s proprietary WebTrader - powered by TradingView - delivers a stable trading environment with a user-friendly interface that’s accessible even to novice traders.
  • With MT4 support, experienced traders can access sophisticated charting tools, advanced technical indicators, customizable algorithms, and expert advisors (EAs) for automated strategies.
  • SimpleFX underwent a revamp in 2021, now sporting a slicker client area with faster load times and a social trading community where you can exchange ideas.
  • With leverage up to 1:1000, traders have the potential to amplify their positions significantly, allowing for greater exposure to market movements and magnified returns (as well as losses).
  • The range of cryptocurrencies available for trading is broad, encompassing well-known selections such as ADA, BTC, and ETH, as well as more specialized options like YFI, YFII, and ZEC.
  • The $6 round-turn commissions at EagleFX are competitive, with other commission structures we review often coming in at around $7 per round-turn, protecting profit margins for active traders.
  • This broker offers free and unlimited demo accounts in MT4, plus no inactivity fees - ideal for beginners seeking a risk-free environment to develop trading strategies.
  • EagleFX has introduced Bitcoin deposits, as well as fast-tracked withdrawals, which will serve active traders looking for hassle-free account management.
  • EagleFX continues to offer 24/7 customer support to clients via live chat, email or telephone while the ticket system on the website usually sees replies within 15 minutes.
Cons
  • SimpleFX operates with weak regulatory oversight, allowing it to offer high leverage, but meaning it faces less stringent supervision from authorities compared to brokers like IG which operate in tightly regulated jurisdictions.
  • While the Bloomberg TV news feed and economic calendar are valuable resources, the lack of research tools like Autochartist and Trading Central is a serious disadvantage for traders wanting support in identifying opportunities.
  • The educational tools are okay but not great. The ‘Opinion’ section needs updating more frequently while video tutorials covering market analysis and risk management would be valuable additions for beginners.
  • The availability of only a few non-crypto funding methods is a downside for traders seeking more diverse and convenient options for managing their accounts.
  • EagleFX needs to step up its education with extremely basic guides and no learning articles added since 2022, made worse by the lack of analyst insights to inform trading strategies.
  • The range of 100+ instruments on the EagleFX platform will be extremely limiting for serious traders, especially compared to category leaders like Blackbull with its 26,000+ tradable assets.
  • EagleFX is based offshore and is not authorized by a trusted regulator, meaning traders may receive little to no safeguards, substantially increasing the risks of trading with this broker.
Awards
  • Best Support 2023, Crypto Expo Europe
  • The Best Trading Platform Cryptocurrency, World Expo 2022 - Warsaw
  • Best Mobile App 2020 - Rankia Awards
  • The Best Trading Platform, Finance World Expo 2019 - Zug
  • Best Cryptocurrency Trading Platform, Cryptocurrency World Expo 2018 - Berlin
  • FX Broker With Best Withdrawal Options 2020
  • Best ECN/STP Broker 2020
  • Best Forex Broker 2020
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Indices, Stocks, Commodities, Cryptos Forex, CFDs, Indices, Stocks, Commodities, Cryptocurrencies
Demo Account
Yes Yes
Minimum Deposit
$0 $10
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
FSC
Mobile Apps
iOS, Android + WebTrader iOS & Android
Trading App

SimpleFX provides a proprietary app for both Apple and Android mobile devices. The application boasts a user-friendly design, facilitating easy opening and closing of trades with access to the broker’s 220+ tradable assets. However, occasional unresponsiveness during testing, alongside an average charting package, means it won’t meet the needs of highly active traders.
iOS App Rating
rating empty
rating full
4.4
rating empty
rating full
4.8
Android App Rating
rating empty
rating full
3.8
rating empty
rating full
4.4
Margin Trading
Yes Yes
MetaTrader 4
Yes Yes
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
Yes Yes
ECN Account
No Yes
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
Yes No
Robo Advisor
Yes No
Negative Balance Protection
Yes No
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Auto Trading
Expert Advisors (EAs) on MetaTrader Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
Yes No
Trade Signals
Yes MT4
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
3% $0
Islamic Account
No Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • USD
  • EUR
  • GBP
Commodities
  • Copper
  • Palladium
  • Platinum
  • Gold
  • Silver
  • Oil
  • Cocoa
  • Coffee
  • Cotton
  • Corn
  • Natural Gas
  • Soybeans
  • Sugar
  • Wheat
  • Gold
  • Silver
  • Oil
CFD
SimpleFX stands out with highly leveraged trading options up to 1:1000 covering popular asset classes, including stocks, indices, currencies and commodities. Additionally, the social community serves as an excellent resource for gathering CFD strategy tips and short-term trading ideas. The broker offers a small range of 100+ CFD instruments spanning key markets, with high leverage up to 1:500. Pricing is reasonable, with round turn commissions coming in at $6 alongside tight spreads. Multiple short-term strategies are also permitted, including hedging and scalping.
Leverage
1:1000 1:500
FTSE Spread
1.3 0.77
GBPUSD Spread<
1.2 1.3
Oil Spread
0.04 0.09
Stocks Spread
Variable Variable
Forex
SimpleFX provides a comprehensive selection of around 60 currency pairs, from majors like GBP/USD to exotics like CHF/PLN. Forex trading fees are competitive, averaging 0.9 pips on EUR/USD during testing, while MetaTrader 4, available on desktop, web and mobile, was built specifically for trading currencies online. EagleFX provides opportunities to go long or short on over 50 forex pairs from majors to exotics, with competitive spreads as low as 0.1 pips. The broker offers the leading charting software, MetaTrader 4, which delivers a host of charting tools for traders, including 9 timeframes and over 30 indicators.
Assets
57 55+
GBPUSD Spread
1.2 1.3
EURUSD Spread
0.9 0.7
EURGBP Spread
1.0 1.4
Cryptocurrency
SimpleFX’s strongest offering is its crypto trading environment, with a growing range of tokens, bolstered in 2024, including Bitcoin, Ethereum and Filecoin paired with the USD. Its crypto-based accounts also ensure a smooth trading experience for crypto enthusiasts, while the bespoke staking service allows capital to be utilized for margin trading. A strong range of cryptocurrencies are available with 35+ tokens including popular assets like Bitcoin and Ethereum. You can also make convenient Bitcoin deposits within minutes, with no transfer fees.
Spread
45.57 Floating
Coins
  • ADA
  • APE
  • ARB
  • AVA
  • BCH
  • BNB
  • DASH
  • DOT
  • EOS
  • ETC
  • ETH
  • FET
  • FIL
  • INJ
  • LNK
  • LTC
  • MATIC
  • NEO
  • SOL
  • TIA
  • WAVE
  • XTZ
  • YFI
  • ZEC
  • BCH
  • BTC
  • DASH
  • EOS
  • BIT
  • ETP
  • LTC
  • BTC
  • OMG
  • ZEC
  • USDT
  • BCH
  • ETP
  • QTUM
  • XMR
  • DOT
  • ETC
  • IOS
  • NEO
  • SAN
  • ZRX
  • EDO
  • ETH
  • IOT
  • NEO
  • SAN
  • XRP
  • BTG
  • EDO
  • ETH
  • OMG
  • TRX
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
Yes No
Auto Market Maker
No No
SimpleFX EagleFX
Review
Review
More Comparisons
SimpleFX
vs

 EagleFX
vs