easyMarkets

Editor's Score 4.1
Pros
  • Over 300 trading instruments.
  • Deal cancellation feature.
  • Fixed spreads.
Cons
  • Only available in four languages.
  • Demo account limited in time
  • Hard to navigate website.
Min Deposit
$100
Max Leverage
1:400
Mini Account
Bonus
50
Platforms
Withdrawal Options
  • Credit Card
  • Bank Transfer
  • Skrill, Neteller, WebMoney, Giropay

Review

Introduction

EasyMarkets is a Forex broker founded in Cyprus back in 2001. The broker was initially known as Easy-Forex until rebranding back in 2016. On top of Forex trading, EasyMarkets provides a wide range of products to include derivatives (options, forwards and futures) and CFDs in commodities, indices, and cryptocurrencies.

The broker is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 079/07 and by the Australian Securities and Investment Commission (ASIC) under license number 246566.

EasyMarkets has severally won various awards to include the Most Innovative Broker, Best Forex Service Provider, Best Trusted by Investors, Best Forex Customer Services Provider among many others.

Trading Conditions

EasyMarkets provides maximum leverage of 1:400 for MT4 traders and 1:200 for web traders, which is friendly for both beginner and experienced traders. Inexperienced traders can choose lower leverage to avoid magnifying losses.

The broker guarantees stop losses to ensure that traders can capitalize on Forex price action while protecting their accounts from negative balances. The higher the leverage, the closer the stop losses is to the market rate.

EasyMarkets provides four types of accounts namely Super VIP, VIP, Premium, and Standard. The minimum deposit for the standard account is $100, the Premium $1000, the VIP $2500 and the Super VIP $10,000.

The Premium, VIP, and Super VIP accounts come with additional trading tools and features to help the trader maximize their trades. Also available is a Demo account to allow new traders to practice before dipping their feet into a live account trading.

Just like other brokers, EasyMarkets takes a fee from the spread, which is the difference between the buying price and the selling price of an instrument. However, the fixed spreads offered by this broker are highly competitive when compared with those provided by most brokers.

As of August 21st, 2018, the spreads for EUR/USD was 1.8 pips, USD/JPY 3, and GBP/USD 3.

EasyMarkets provide a 50% bonus on initial deposits of up to $2000. Traders are also given a commission when they introduce friends to the trading platform.

Products

The products offered range from online forex trading, derivative trading (options, forwards and futures) CFDs in commodities, indices, metals, currencies, cryptocurrencies, and others. The cryptos offered include Bitcoin, Ripple, and Ethereum.

Online forex trading involves 136 currencies as day trades, 48 asset pairs for forward deals, or 58 currency pairs for vanilla options. The metals traded include Gold, Silver, Copper, Platinum, and Palladium. Energy commodities include Crude oil, Brent Crude, gas oil, heating oil, and natural gas.

Regulation

As mentioned earlier in the introduction, EasyMarkets trading ltd is located in Limassol, Cyprus and is regulated by Cyprus Securities and Exchange Commission (CySEC) under license number 079/07. Its subsidiary, Easy Markets Pty LTD, is located in Australia and is regulated by the Australian securities & investment commission (ASIC) under AFS license number 246566.

These two regulatory bodies ensure that all deposits made by clients are safe and kept separate from the company funds.

Platforms

EasyMarkets provides various trading platforms. These include;

  • easyMarkets In-house Platform
  • easyMarket trading app supported by android and ios.
  • Web based easyMarket metatrader 4(mt4) accessible through desktop and mobile.

The In-House platform offers live market news, technical analysis, charts and a one-click trading from market explorer. The MT4 features include pre-installed indicators and analysis tools, multiple order types including market orders and pending orders.

EasyMarkets trading app features include a price notification, financial calendar, deal cancellation, inside viewer, live rate graphs and market explorer.

Mobile Trading

Both the web trading platform and the MT4 are compatible with android and ios devices and can, therefore, be accessed through most smartphones. This ensures that traders can access their trading accounts from anywhere and conduct fundamental and technical analysis with much ease.

Pricing

EasyMarkets offers competitive pricing when compared to most brokers in its popularity level. The trading costs among the three major account types vary, but spreads are fixed across its standard account, Standard 1 account, and the VIP account.

The VIP account and the Standard 1 account have the best pricing with the former requiring a deposit of $2500 and the latter a deposit of $250. Both accounts offer fixed spreads of 1 pip or 1.8 pips in MT4 on the EUR/USD.

Deposits & Withdrawals

EasyMarkets accepts payments from bank transfers, MasterCard, Visa, Visa Electron, Maestro, and e-wallets such as skrill, Netteller, WebMoney, GiroPay, and UnionPay.

The broker does not charge any deposit and credit card, and e-Wallets withdrawals have no limit. However, withdrawals through bank transfers must not be below $50.

Customer Support

EasyMarket customer care has won several awards as the best in class. Customer services are offered during market hours, and clients can reach out to the attendants through live chat, email, fax or telephone. In areas where the broker has physical offices, clients can pay a visit and get help.

EasyMarket customer service is available in four languages to include English, Polish, Chinese, and Arabic. Support is open to all clients regardless of their account status, but there are more support features available for clients with VIP accounts.

Research & Education

EasyMarkets provides various educational materials and tools to help their clients stay informed and make the right decisions. One key feature is the Learn Centre, a platform where traders can access learning resources such as educational videos, eBooks, articles, and others. An FAQ page is also available to help the traders to quickly get information on the burning questions asked by new and experienced traders.

Noteworthy Points

As an industry leader and a multiple award winner, EasyMarkets strives to offer unique features and services. Some of these features include:

  • Deal cancellation
  • Guaranteed stop loss
  • Negative balance protection
  • Guaranteed take profit

Also, the broker is in the front line in the adoption of new products and technologies. For instance, the broker offers an opportunity for its traders to invest in the cryptocurrency markets and often provides the necessary resources to reduce the risks of such markets and maximize profits.

Regarding technology, the broker has a state of the art analytics tools incorporating artificial intelligence, the leading technology in smart trading.

Conclusion

On top of being highly regulated, EasyMarkets has proven to be an industry leader in the field of Forex and CFD trading. The availability of state of the art trading platform and excellent customer services makes this broker a top choice for most traders. However, the broker is not without some minor flaws such as hard to navigate website and the fact that it is only available in four languages.

Comparison

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