ICE FX vs SimpleFX

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

ICE Markets vs SimpleFX Comparison Table 2024
ICE Markets SimpleFX
rating empty
rating full
2
rating empty
rating full
4.2
ICE Markets is ranked #97 among CFD brokers. SimpleFX is ranked #60 among CFD brokers.
Review
Review
ICE FX is a global STP broker with access to MetaTrader 4 and CFD trading in four major asset classes: forex, crypto, precious metals and energies. The offshore brokerage offers competitive trading fees, 24/5 customer support and a loyalty scheme for active investors. 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.
Pros
  • Tier-based loyalty scheme with access to a free VPS and interest rate payments on uninvested balances
  • Access to the MT4 desktop, web and mobile platform with powerful analysis and customizable charting
  • Low fees with tight spreads from 0 pips, commissions between 0.0025% and 0.25%
  • Reliable customer support available 24/5 via phone, live chat, Skype and email
  • Hybrid PAMM/MAM account with low commission fees from 0.004%
  • Range of payment methods including cryptocurrency
  • Fast STP execution speeds of less than 1 ms
  • 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.
Cons
  • Offshore regulation from the Labuan Financial Services Authority (Labuan FSA) raises safety concerns
  • Very slim product portfolio with only 75 instruments and no stocks
  • No education for beginners
  • 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.
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
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
CFDs, Forex, Cryptos CFDs, Forex, Indices, Stocks, Commodities, Cryptos
Demo Account
Yes Yes
Minimum Deposit
$30 $0
Payment Methods
Minimum Trade
0.01 Lots 0.01 Lots
Regulator
Labuan FSA FSC
Mobile Apps
iOS & Android iOS, Android + WebTrader
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 empty
rating full
4.4
Android App Rating
rating empty
rating empty
rating full
3.8
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 No
DMA Account
Yes No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No Yes
Robo Advisor
No Yes
Negative Balance Protection
No Yes
Market Maker
No No
P2P Trading
No No
Spot Trading
No No
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No Yes
Trade Signals
Yes
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%
Islamic Account
No No
Account Currencies
  • USD
  • USD
  • EUR
  • GBP
Commodities
  • Copper
  • Palladium
  • Platinum
  • Gold
  • Silver
  • Oil
  • Cocoa
  • Coffee
  • Cotton
  • Corn
  • Natural Gas
  • Soybeans
  • Sugar
  • Wheat
CFD
75 CFDs are available on foreign exchange, UK and US oil, precious metals and cryptocurrencies. You can trade CFDs with STP execution and a low minimum order size of 0.01 lots. 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.
Leverage
1:300 1:1000
FTSE Spread
N/A 1.3
GBPUSD Spread<
1.0 1.2
Oil Spread
0.5 0.04
Stocks Spread
N/A Variable
Forex
Trade 36 major, minor and exotic currency pairs with ICE FX. Leverage up to 1:300 is available and spreads start from 0.0 pips on popular currency pairs. 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.
Assets
36 57
GBPUSD Spread
1.0 1.2
EURUSD Spread
0.8 0.9
EURGBP Spread
1.3 1.0
Cryptocurrency
Trade five crypto CFD contracts 24/7 including the BTC/USD and ETH/USD. Leverage up to 1:10 is available alongside floating spreads. On the downside, the range of digital currencies trails the top crypto brokers. SimpleFX’s strongest offering is its crypto trading environment, with a growing range of tokens, including Bitcoin and Ethereum 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.
Spread
Floating 45.57
Coins
  • BCH
  • BTC
  • ETH
  • LTC
  • XRP
  • ADA
  • APE
  • ARB
  • AVA
  • BCH
  • BNB
  • DASH
  • DOT
  • EOS
  • ETC
  • ETH
  • FET
  • FIL
  • INJ
  • LNK
  • LTC
  • MATIC
  • NEO
  • SOL
  • TIA
  • WAVE
  • XTZ
  • YFI
  • ZEC
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No Yes
Auto Market Maker
No No
ICE Markets SimpleFX
Review
Review
More Comparisons
ICE Markets
vs

 SimpleFX
vs