With web trading becoming more complex by the day, traders find it difficult to decide which trade will reduce loss and maximize profit. At least, until now.
Leading Forex and Cryptocurrency CFD broker SimpleFx just added a new trade calculator to its BETA web trader platform (app.simplefx.com). The new calculator allows traders to simulate trades with varied leverages before they trade, says SimpleFX, which in turn, cuts down on risk.
“Making trading easier is what SimpleFX is all about,” says the SimpleFX team. “This new calculator will save time, reduce risk, and maximize profit for our traders,” they said. SimpleFX, they point out, requires no minimum deposits, allows trading 24/7, and has a community forum where traders can learn from each other.
This new feature allows traders to choose the symbol of the currency, commodity, or precious metal, as well as their desired order size. The calculator will run the numbers, giving traders information about how that trade will fare. Traders can then choose a direction and change the open/close price to see how much they could gain on their chosen trade.
With the new tool, calculating fees is easy and transparent, making planning investments easier. Traders can choose the strategy and manage risk as they simulate their trade with different leverages. No more will they need to waste their time on calculations, such as finding the required margin or point value. The new calculator does all the work, helping traders become better informed about trading conditions before they open a trade.
An innovative design allows traders to check all their calculations on one platform so they never have to switch between the old and new web trader platform again. Also, the team pointed out, the calculator makes it easy for beginners to get up to speed. “In addition to the user-friendly calculator, we also provide beginners with a free demo account, on which they can practice trades without making a deposit,” they said.
Users can have up to three accounts for each currency, but when they open an account, there are two default accounts: USD and BTC. They can refill the demo account’s balance to its original value (equivalent to 4,000 USD).
SimpleFX (https://simplefx.com/) is a cutting-edge online trading provider whose goal is to make trading simple and transparent. Available in 160 countries, their platform has over 150,000 traders who benefit from the company’s innovative trading technology, best pricing, guaranteed deposit protection funds, world-class security, online community, execution, and liquidity.
Images courtesy of SimpleFX