All brokers vetted and selected by Simply FX are registered with and authorised by the Financial Conduct Authority (FCA)
All of our carefully selected brokers operate segregated client accounts. Meaning, all client funds are held in separate accounts, so your money is kept apart from any operating funds and is protected at all times.
How do other FX businesses make their money?Martin2018-06-28T14:53:32+00:00
Most foreign exchange businesses and brokers make their money on the spread.
The spread on a transaction is simply the difference between what the broker pays for the currency and what the client is charged. Banks will often take 4% or more, while specialist brokers are generally much more competitive.
The brokers we have chosen and approved always give you a single final price for the transaction. We don’t charge any extras at all. This means that when you received your quotation, you know exactly what it is going to cost. That quotation is then guaranteed for 30 days.
How does Simply FX make its money?Martin2018-06-28T14:52:28+00:00
Simply FX only uses reputable, authorised brokers, registered with the Financial Conduct Authority (FCA). You will receive full details of the broker, together with their registration information and links to on-line reviews, with your quotation.
The information you give us is treated in confidence, and only made available to approved brokers.
Why use Simply FX rather than my bank?Martin2018-06-28T14:49:25+00:00
Although most banks offer foreign currency exchange services, they tend to be very expensive, and uncompetitive. Simply FX will connect you with a specialist fx broker who will tell you the true cost of the deal. There will be no extras. Banks normally charge fees, commission and a transfer fee.
What are the advantages of using simply FX?Martin2018-06-28T14:48:49+00:00
Simply FX makes the whole process of obtaining foreign currency so much easier. You don’t have to spend time browsing the market, looking for the best deals, or obtaining individual quotations. We do all of that work for you. Instead, you just send in one request for a quotation, and Simply FX will scour the market for you. We then send you details of the best deal we can find, from a broker with impeccable credentials.
Referrals from satisfied customers are the backbone of our business, so we aim to keep all of your customers happy by giving them a simple, hassle-free experience.
Is Simply FX a broker?Martin2018-10-09T16:05:53+00:00
No, Simply FX is a comparison website. What we do is send your request for a foreign exchange quotation to carefully selected brokers. We send you the details of the broker who offers the most competitive price for your currency exchange, and we send that broker your details. You can register and trade with that broker, who will honour the price in that quotation for the next 30 days.
Simply FX will only ever partner with brokers who employ experienced currency consultants that are currency specialists who have qualified industry acknowledged certifications in technical analysis and who are a Member of the Society of Technical Analysts (MSTA)
Once you are registered with your selected broker, you will be assigned a dedicated currency consultants, not just an account manager as most brokers offer.
Your industry acknowledged professional currency consultant can assess the currency markets and what they mean for you and your money and will guide you professionally through the process in simple terms without industry jargon.
How quickly can I get my money?Martin2018-07-31T14:09:29+00:00
Once you have received and accepted a quote from the most competitive broker, and registered for business, you can start to trade straight away. Most brokers will complete the transactions on the day that they receive your funds. Depending on your bank, the money should be in your nominated account on the same working day.
How quickly will I receive a quotation?Martin2018-06-28T13:59:57+00:00
If you want a foreign exchange quotation, all you have to do is fill in the form at the top of the page. You will then received a quotation from the most competitive of our brokers. There’s no need to register with Simply FX. The only point at which you need to register with a broker is if you decide to accept a quote when, in order to carry out a trade you have to register with the broker you decide to use. This is for your own protection and peace of mind, and part of the broker’s FCA (Financial Conduct Authority) compliance procedure. When you register with a broker, there is no commitment to exchange currency.
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