Simplex review

The listing covers 200 coins, a focused set rather than a full exchange catalogue. For scale, the median coin count across ranked crypto exchanges is 74.5 and the upper quartile 392, which puts Simplex above the middle and short of the longest lists on the market.

Costs are easier to judge against the market than from a headline rate. Across ranked crypto exchanges the median taker fee is 0.2% and the upper quartile 0.5%, while the median minimum deposit is €0.88. Simplex takes funding through card, bank and sepa, so the route you pick can matter as much as the fee.

The exchange is registered with Bank of Lithuania (LSC) under licence MiCA CASP 894500IY99QLL9M0SR28, with the legal entity given as Nuvei Liquidity UAB. That gives a named operator behind the account rather than an anonymous signup. The open point is transparency, because proof of reserves is not published, so customer balances are not matched by a public attestation.

Fiat deposits run through card, bank and sepa, which covers card and bank transfer routes along with regional bank transfer schemes, so most European and UK readers can fund an account without a wire transfer. For scale, the median minimum deposit across ranked crypto exchanges is €0.88 and the upper quartile €2.78, so small first buys are common in this group.

Support runs on email and help centre, which means email and a help centre, with no live chat and no phone line. That suits readers who prefer to raise a query in writing and keep the thread. Across ranked crypto exchanges, 40.9% of providers add live chat, so Simplex is the quieter option.

Derivatives are not offered here, so the product list stops at buying and holding coins. The exchange runs as cex and holdings are custodial, which keeps the range to spot buying and holding. Anyone who wants leveraged exposure or structured products will find the choice thin here.

Simplex lists 200 coins, against from 350 at bunq, from 300 at Vivid Plus and from 150 at eToro. Simplex therefore sits between eToro and Vivid Plus on length, and the pick depends on whether you want the widest list available or a shorter one you will actually trade.

Losses are common in this market: the median share of retail accounts that lose money is 70.15%, with an upper quartile of 74.5%. Simplex adds its own angle, since holdings are custodial and proof of reserves is not published. Small regular buys suit people who could lose the full amount without changing their plans.