Beware! Simple Trade Cryptos is an offshore broker! Your investment may be at risk.


Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


The Simple Trade Cryptos website invites us to boost our revenue potential by becoming clients of this broker. But a basic fact check reveals many reasons why this would not be a good idea. Simple Trade Cryptos is not a credible financial services provider and it would be a mistake to trust it with your money. Let’s take a detailed look at why this is the case and what more credible altrernatives you have when investing in financial instruments.

Simple Trade Cryptos Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
Simple Trade Cryptos
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

The first worrying clue about Simple Trade Cryptos is that it is a complete mystery who is behind this website. Nowhere is a company name given, not even in the legal documents. Not even a contact address is given, let alone details of a regulatory licence.

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

The text of the Terms and Conditions specifies Estonia as the applicable jurisdiction. But such an anonymous website cannot operate as a broker in a strictly regulated jurisdiction such as the European Union. There is no broker authorised by the Estonian financial authorities that uses the trade name and domain of Simple Trade Cryptos. At the same time, financial authorities in the Canadian province of Alberta have blacklisted Simple Trade Cryptos.

Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.

Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK. As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.

Simple Trade Cryptos Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
Simple Trade Cryptos
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

After registering an account we get access to basic web-based trading software. Here is how it looks like:

While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

It should be noted that the presence of some kind of trading software is no guarantee that this is a genuine broker. Financial scammers often use rigged trading platforms to fool their victims that their money is actually being invested. However, this trading is entirely fictitious and the money goes directly into the scammers’ pockets.

Simple Trade Cryptos Trading instruments

Simple Trade Cryptos
FP MarketsYesYesYesYesYes

Instruments from all major asset classes – forex, commodities, indices, equities and cryptocurrencies – are included in the Simple Trade Cryptos trading software. But as stated, there is no good reason to believe this trading is real. There’s no reason to take risks with fishy websites like Simple Trade Cryptos when you could be working with a duly licensed broker.

Simple Trade Cryptos Spreads and cost of trading

Simple Trade CryptosXMFP MarketsOcta
Spread EURUSD0.
Spread GBPUSD0.11.31.5x
Spread USDJPY0.11.31.5x

In the trading platform we see a very low spread of 0.1 pip. Such a spread implies that the broker charges some kind of commission. But Simple Trade Cryptos does not provide any information about the price paid by the client.

Simple Trade Cryptos Maximum leverage

Simple Trade Cryptos200:1100:110:1100:1100:1
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

According to the descriptions of the account types, Simple Trade Cryptos offers leverage up to 1:100, but the trading platform has an even higher leverage of 1:200. This is further evidence that Simple Trade Cryptos is not a licensed broker based in Estonia or any other regulated jurisdiction in the EU.

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. In the EU the maximum is 1:30.

Another such piece of evidence is the claim that Simple Trade Cryptos offers bonuses. Regulated brokers are prohibited from offering bonuses and promotions. Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms.

If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.

Simple Trade Cryptos Deposit and withdrawal methods

Deposit timeWithdrawal timePrice
Bank wire2-5 business days2-5 business days$25+
Credit cardInstant24 hoursFree
PayPal1 hour24 hours2%
Skrill1 hour24 hours2%
Neteller1 hour24 hours2%
Crypto24 hours24 hoursFee depends on crypto

Simple Trade Cryptos claims to allow credit card deposits and wire transfers, but there are no active payment methods in the deposit menu itself.

Experience has shown that fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including  established e-wallets such as PayPal, Skrill or Neteller.

Simple Trade Cryptos Minimum deposit

Simple Trade CryptosXMFP MarketsOcta
Minimum deposit$250$5$100$100

According to the homepage of the website, Simple Trade Cryptos requires a minimum deposit of 2,500 USD, but the deposit menu lists a minimum of 250 USD. For as little as 5 or 10 USD you could start  trading with some of the leading brands in the industry.

Simple Trade CryptosWithdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
Simple Trade Cryptos200x10%$250
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

In the Deposits and Withdrawal Policy  we see familiar scam traps designed to block withdrawal requests. A 10% levy will be charged by an account that has not met the vaguely worded minimum traded volume requirement of “200 in turnover”, which presumably should mean 200 lots, or 20 million currency units.

Withdrawal fees vary between 25 and 50 USD/GBP/EUR depending on the payment method. In addition, there is a processing fee. Legitimate brokers do not normally charge transaction fees, and when they do these fees are much lower.

Simple Trade Cryptos imposes a minimum withdrawal amount of between 100 USD and 250 USD depending on the payment method. There is also a hefty monthly fee of 10% for accounts that have not been active for more than six months.

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