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SimpleTrades

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Operating status: SCAM

Website: http://simpletrades.com

Broker violations and abnormal records
  • 2020-07-12 The Spanish regulator CNMV added SimpleTrades into the unregistered firm alert
    The Spanish National Securities Market Commission (CNMV) warned the public that the firm is not authorised to provide the investment services in the country: https://www.cnmv.es/Portal/ResultadoBusqueda.aspx?tipo=1&nombre=SimpleTrades
  • 2021-09-09 BrokersView has reviewed that SimpleTrades is an unregulated forex broker
    BrokersView found SimpleTrades is not regulated or not overseen by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
    BrokersView found SimpleTrades is not regulated or not overseen by any financial regulator. That means investors’ funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is a scam broker.
  • 2026-01-03 BrokersView has identified that SimpleTrades's website is currently offline

    BrokersView found that the domain "http://simpletrades.com/" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.

    BrokersView found that the domain "http://simpletrades.com/" is currently inaccessible. This is widely regarded as a significant red flag, as the suspension of a broker's website often points to underlying regulatory or operational issues.

Related Complaints

Q&A

Does SimpleTrades regulate in Japan?

angelo melis
Japan
2023-04-11
ANSWER SimpleTrades is an unlicensed broker we advise against dealing with even though it offers seemingly attractive deals.SimpleTrades's website is not accessible now, which can be interpreted as a negative indication. Because a broker's website serves as their official platform to provide crucial information including regulatory status to users and facilitate trading for investors. A non-functioning website is a red flag, suggesting potential issues with the broker's reliability and resources. In addition, as per information we have about SimpleTrades, the Spanish National Securities Market Commission (CNMV) has warned the public not to trade with this broker since it is an unauthorized firm. You can check the full warning here.Regarding your question, SimpleTrades is not overseen by any regulatory body. Entrusting this broker to hold and control your funds or trading with it is highly risky, as there are no legal protections in place to protect the funds. Therefore, we strongly suggest investors avoid unlicensed brokers like SimpleTrades and choose fully regulated ones instead.
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I want to know if SimpleTrades is a scam？The customer service staff of this broker is out of contact.

Douglas
Pakistan
2021-10-23
ANSWER SimpleTrades is NOT a legitimate broker. SimpleTrades claims to be a fully regulated broker that adheres to the most rigorous regulatory requirements without providing any details about its trading license and contact information. We keep on reminding our readers that the lack of information (or false information) about the broker's regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. What's worse, the Spanish National Securities Market Commission (CNMV) has added SimpleTrades to its alert list and warned the public that this firm is not authorised to provide the investment services in the country. You can check full CNMV warning on SimpleTrades here. As per the evidence above, our final conclusion is that SimpleTrades is thoroughly a scam on account of running its business without any relevant license approved by a reputable regulator. Therefore, we would recommend traders to stay away from unregulated brokers and trade with licensed brokers.
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