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TradeSimple
United Kingdom|2-5 years| https://tradesimple.org/index.html
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No valid regulatory information, please be aware of the risk!
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40G
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Apollo MS Ltd
TradeSimple
United Kingdom
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
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| Minimum Deposit | $100000 |
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| Minimum Deposit | $50000 |
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| Minimum Deposit | $5000 |
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| Minimum Deposit | $250 |
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Capital
$(USD)
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TradeSimple · Company Summary
Note: TradeSimple is to operate via the website - http://www.gpmfx.com/#, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
| Feature | Detail |
| Regulation | No regulation |
| Market Instrument | Forex, CFD and Cryptocurrency |
| Account Type | Basic, Bronze, Silver, Gold, Platinum and Diamond |
| Demo Account | N/A |
| Maximum Leverage | 1:50 |
| Spread | N/A |
| Commission | N/A |
| Trading Platform | web |
| Minimum Deposit | $250 |
| Deposit & Withdrawal Method | trdapps.com and wisenex.com |
TradeSimple, a trading name of Apollo MS Ltd, is allegedly a forex and CFD broker registered in the United Kingdom that claims to provide its clients with various tradable financial instruments with leverage up to 1:50 on the web-based trading platform via six different live account types.
As for regulation, it has been verified that TradeSimple currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.08/10. Please be aware of the risk.
Market Instruments
TradeSimple advertises that it offers access to a wide range of trading instruments in financial markets, including forex, CFD and cryptocurrency trading.
Account Types
TradeSimple claims to offer six types of trading accounts, namely Basic, Bronze, Silver, Gold and Platinum, with minimum initial deposit requirements of $250, $5,000, $10,000, $50,000 and $100,000, as well as a Diamond account with no specified information. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The maximum leverage provided in TradeSimple is 1:50. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Trading Platform Available
Instead of the world's most advanced and popularly-used MT4 and MT5 platforms, TradeSimple gives traders a web-based trading platform. Anyway, you had better choose brokers who offer the leading MT4 and MT5, which are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. They are especially popular for their automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
TradeSimple allows money to be deposited only through unknown payment processors such as trdapps.com and wisenex.com. The minimum initial deposit requirement is $250.
Customer Support
TradeSimple‘s customer support can be reached by email: support@tradesimple.org. Company address: 71-75, Shelton Street, London, Greater London, WC2H 9JQ, UNITED KINGDOM. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most transparent brokers offer.
Pros & Cons
| Pros | Cons |
| • Multiple account types offered | • No regulation |
| • Website inaccessible | |
| • High minimum deposit ($250) | |
| • Only unknown payment methods supported |
Frequently Asked Questions (FAQs)
| Q 1: | Is TradeSimple regulated？ |
| A 1: | No. It has been verified that TradeSimple currently has no valid regulation. |
| Q 2: | Does TradeSimple offer the industry-standard MT4 & MT5？ |
| A 2: | No. Instead, TradeSimple offers a web-based trading platform. |
| Q 3: | What is the minimum deposit for TradeSimple？ |
| A 3: | The minimum initial deposit at TradeSimple to open an account is $250. |
| Q 4: | Is TradeSimple a good broker for beginners？ |
| A 4: | No. TradeSimple is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and high initial deposit. |
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