SimpleFX has been listening to its users’ comments and has now implemented some new features. Having said that, the trading platform has become a strategic tool to micromanage crypto trades online. Its creators have developed the program so that effort is turned into convenience; navigation can be done from anywhere. The revised features should encourage a trading community that balances the importance of sharing information with producing the best returns.
Why Users Have Been Criticizing SimpleFX?
SimpleFX has features that are generally regarded as basic but thorough when it comes to getting the trade done. Like any platform, there are still points for improvement to provide the customers with everything at their fingertips.
Among other things, users often question SimpleFX’s privacy policy. Account registration and verifications have skipped the usual identity checks. In actual transactions, however, there lie stricter precautions, one of which is on the deposit transaction feature. SimpleFX allows you to deposit or withdraw fiat currencies, but ID verification is required before deposits can be retrieved.
While the platform has no particular requirement for any new client signing up for an account, actual money exchanges require additional protection and approval for the final balance to be guaranteed and deposited in the client’s bank account.
Another issue about security is the lack of safety functions throughout the different options of the interface. According to CryptoCoinTrade’s SimpleFX review, “the platform is not a regulated marketplace, which leaves the space for private trading activities with cryptocurrencies.” Furthermore, they add that SimpleFX “is considered as an offshore company, meaning that lost funds due to the hacking attacks or from the company’s default are entirely your risk.”
Note that during its initial launch, SimpleFX lacked the APIs (application programming interfaces) and withdrawal keys needed for a cybercrime-free program. This was changed in 2018 with the trading platform introducing an API through the BETA WebTrader, which minimizes latency and allows for advance trade openings.
What Are the New Features?
SimpleFX chose to focus more on the social aspect of cryptocurrency trading by betting on the knowledge of the crypto-community; all the information can now be shared among platform users and seasoned traders. The platform introduces useful content for new investors. It does so by connecting them with influencers who help them along in their journey. This is an opportunity to share tactical ways of generating more profits. For the less competitive, online trading support gives a sense of assurance in analyzing trends and charts.
Simple FX’s social trading aspect comprises the following options; the “Trading Ideas” feature, quality content for tech-savvy users, and a multi-tasking feature used in different devices that no longer require additional account sign-ups.
Trading Ideas is a tool allowing SimpleFX users to share their thoughts regarding cryptocurrency trading. By using it, clients can expand social trade networks and gain lifetime revenue share through the affiliate program of SimpleFX, Unilink.io. Thus, Trading Ideas allows for snapshots, comment posting and sharing in social media and websites. The platform’s traders can also publish direct instructions and advice. Users who are just starting out can easily follow the platform’s expert profiles for updated pointers.
SimpleFX’s multitasking feature works to enhance trading experiences from desktops and laptops. It hopes to make the platform’s WebTrader available in every digital context. Accompanying this option are multi-charts, icon synchronization and a multi-window interface.
The social aspect of crypto trading attempts to gather data into a common and accessible place. SimpleFX’s solution is through the use of different widgets for influencers to create original content. Blog posts, articles, and trading tips are available on the platform for viewing and sharing amongst traders. There are also other customized widgets for Market Overview, Currency Converter, Live Quotes and Intraday Chart.
Conclusion
The revision of SimpleFX’s features was due to the foresight of its creators in focusing more on the crypto trading experience. Its earlier version leaned towards basic trading commands and getting more people to use the platform, whereas its recent advancements have created options to help the user base to get better at trading. Even though SimpleFX’s improvements did not address all the negative aspects of its interface, the developers who worked on the project undeniably brought some positive features to the trading community.
