easyMarkets Review

Review

EasyMarkets is an online market maker established in 2001 under the trade name of “easy-forex.” In December 2015, it rebranded and it now offers traders access to global markets with a wide choice of one simple trading account. EasyMarkets is domiciled in Limassol, Cyprus, is regulated by CySec and is licensed in Europe by MiFid and in Australia by ASIC. EasyMarkets maintains offices in Warsaw, Shanghai and Sydney.

It boasts $1.5 trillion in turnover and over 100,000 active traders. 

Accounts

There is one standard trading account at easyMarkets and the minimum trade is only $100.

An Islamic account is available whereby traders extend their day-trading deals to the next day, and there is no rolling fee charged. The maximum duration offered for day-trading deals is limited (usually 1 month but it can also be shorter or longer depending on the currency pair traded).

There is a rolling charge for trading currencies depending how long the trade is held. Since commodities and indices are traded as CFDs they have a fixed expiry date and no rolling fee. However gold, silver, palladium and platinum are traded as spot trades and rolling fees are charged. There are no rolling fees on options.

easyMarkets account holders that are based outside of Europe can enjoy leverage up to 1:400. European citizens can have leverage up to 1:30 on major Forex pairs and 1:20 for exotic crosses. The difference in leverage between EU and non-EU is because of ESMA, European regulation introduced in 2018 that is designed to protect the trader. easyMarkets is fully ESMA-compliant.

When using the proprietary platform, a free life-long demo account is available. This is the first broker I have ever reviewed that offers this type of demo account.

In addition, a personal analyst is available to all those who update their accounts to a VIP account. This analyst is there to help traders by providing them with expert trading tips, 24/7 availability and over the phone trading capabilities.

Holders of the VIP account are also entitled to cash rebates and SMS alerts on market movements. 

Features

The most notable feature offered by easyMarkets is the risk-free trading option, which allows traders to cancel any trades within 60 minutes if they see that the market is heading against them.  Traders need only to engage the risk-free option when setting their trade, and then they can opt to let the trade run, or to cancel it if they wish.  This is a great opportunity for traders who are watching the market to protect themselves if the market makes unexpected swings.

A vanilla option is a type of asset offered to traders that is not offered by many other brokers. Vanilla options differ from binary options in several ways: There is no limit on the amount of payouts with vanilla options whereas there is with binary options. The expiry dates of vanilla options are flexible and can be customized by the trader. Binary expiries are usually in minutes or fractions of minutes.

In addition, there is no obligation for execution at any time within the life of a vanilla option while with binaries, traders have no recourse once a contract has been entered into. 

Clients can trade all asset classes on one simple platform and can select free guaranteed stop loss, free training, low fixed spreads and 24/5 multi-language support. 

Bonuses/Promotions

EasyMarkets is ahead of its time when it comes to promotions and allows clients to choose which bonus they wish to receive. At the time of this review, the choice was a$25 welcome bonus, a tradable bonus up to 50%/$2000 based on the first deposit amount, or a type of Refer-a-Friend program whereby traders can earn up to $2,500 by bringing in new clients. Traders are able to use all means of social media--Facebook, Twitter, YouTube, Forums, Email and Blogs to share the easyMarkets link.

*Bonuses are not available to clients based in the European Union

Deposits/Withdrawals

EasyMarkets accepts funding via credit and debit cards, bank transfers, e-wallets such as Neteller, WebMoney, Skrill , Global Collect and others.

There are no commissions on deposits and withdrawals. For withdrawals to credit/debit cards and e-wallets there is no minimum withdrawal amount. For withdrawals to bank accounts, a minimum amount of USD 50 is required.

Education

The easyMarkets Learn Centre offers programs and material for beginner, intermediate or advanced traders. These include a host of instructional videos, trading guides and manuals, e-books, and online explanations of key trading terms and concepts. 

easyMarkets Educational Videos

There is also a full listing of explanations on all the key indicators traders should know about such as PPI, Housing Starts, Jobless Claims and much more.

A full A-Z  glossary is provided and a host of different blogs are available through a separate site, Forex. info. Live currency rates, spreads and previous highs and lows are offered for all products.

Market News is updated several times each day and there is a full financial calendar. An innovative feature is a chart analysis page where traders can select a product to be charted and analyzed. 

 

easyMarkets EUR/USD Market News

easyMarkets Technical Charts

Customer Support

Traders can contact a representative at easyMarkets via telephone to the main headquarters in Limassol, Cyprus or to their offices in Warsaw, and Sydney, Australia.

Email contact is also available as is filling out an online contact form. And live Chat is open during working hours. The website is in English, Chinese, Arabic and Polish only.

Conclusion

EasyMarkets goes out of its way to offer traders everything they need from a top Forex broker. The asset choices are plentiful, the website is user-friendly and informative and there are many interesting features not found with most other brokers.  

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Features

easyMarkets offers the best of everything to traders on all levels of trading. Only $100 is needed to open a standard account and the VIP account has additional features to accommodate advanced traders. There is an Islamic account and the demo account is free for a life time!!! This is not heard of in the industry and is certainly a wonderful feature for novice traders. The Meta4 trading platform is attractive and for those who choose otherwise, there is also a proprietary easyMarkets trading platform.

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Platforms

Proprietary Platform

The easymarkets platform offers clients a guaranteed fixed spread as well as guaranteed pending orders, stop loss and take profit rate. Traders can trade Forex and CFDs. They can use advanced charting but cannot trade on charts and one-click trading from Market Explorer and the use of EA’s is not available.

Online access is available 24/7 and negative balance protection is provided. 

easyMarkets MT4 Platform

MetaTrader 4

The easyMarkets MetaTrader 4 offers all the bells and whistles of the popular MT4 platform. It offers guaranteed fixed spreads, guaranteed take profit rate and stop loss but does not offer guaranteed pending orders.

The platform must be downloaded and not all the products can be traded. Inside Viewer is not offered either. Chat is available only from the website and deposits and withdrawals can only be executed from the trading platform.

Mobile

The easyMarkets mobile trading app was launched in April 2017 as a way for traders to integrate their trading experience into their daily lives, wherever they are.The easyMarkets mobile app is available for Android and iOS and to offer a complete trading experience that can replace desktop trading if so desired.  Traders can deposit and withdraw funds directly from the app, and can take advantage of easyMarkets’ unique dealCancellation service as well.  They can also employ risk management tools, market analysis, a financial calendar and a range of charting options directly within the app.  EasyMarkets’ Inside Viewer, a feature that allows easyMarkets traders to see the trades of other easyMarkets users, is also available within the company’s mobile app.  At the time of this easyMarkets review the mobile app was available in English and Chinese.  Other languages should be available in the coming months.

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