How Do We Rate Trading Forex With Easy Markets? Find Out In This Official easyMarkets Review
- CySEC & ASIC Regulated
- Deposit Bonus
- dealCancellation feature
- Just Two Account Types
- No Demo Account
easyMarkets is an established Forex trading company that introduced its services to the Forex trading community back in 2003. The early 2000s saw a rapid increase in the number of FX brokers setting up their brokerages to capitalize on the popularity of the internet and online Forex trading platforms. easyMarkets, which in its previous guise was known as Easy Forex, is a CFD broker that offers different tools and financial products ranging from Forex currencies, metals, commodities, indices, shares, and other CFDs. With more than a decade of experience in the FX market, easyMarkets is certainly one of the reliable brokerage houses that act in the best interest of their clients.
It ‘s hard for any company to sustain their business model for a long time without satisfying a majority of their customers’ needs and preferences. It is also vital for all Forex brokers to keep up with the numerous advancements in investment technologies, trading platforms, financial products, and innovative trading models, in order to stay abreast of the changing markets. easyMarkets has been successful in weathering all the uncertainties in the industry by embracing the changing market dynamics, which is the primary reason why easyMarkets is chosen as a preferred Forex broker from several loyal traders from around the world.
easyMarkets Forex Broker Regulatory Licenses & Office Locations
easyMarkets is mainly located in Cyprus, but the company has its branch offices in Australia, Poland, and China. CySEC is the primary regulatory organization that is responsible for supervising the Forex trading activities of the broker in Europe, while the ASIC also regulates easyMarkets for all financial services provided to traders and investors from Australia. With a strong European, Asian, and Australian presence, easyMarkets has indeed covered some of the major capital markets in the world, but the broker does not accept clients from the US. easyMarkets used to be a popular name in the US financial markets with a significant presence in different US states, but the changes in the CFTC and the NFA guidelines have virtually driven out various reliable brokerages in the country.
CySEC and ASIC regulation should provide sufficient reliability for the average trader, as both of these organizations have excellent regulatory frameworks that protect investors from broker irregularities. CySEC is a part of the European Union and the MiFID, which is answerable to all regulatory agencies across the European Union. easyMarkets is expected to adhere to all the policies incorporated by the CySEC and the European Central Bank to preserve and protect the integrity of investors from EU and across the globe.
The ASIC also has a similar regulatory structure to the CySEC, which further protects traders from any financial malpractices. easyMarkets submits routine audits and financial reports to their respective regulatory agencies to create a transparent track of all financial activities, which are done to ensure that the broker does not indulge in any type of investor abuse. easyMarkets also deposits all of their clients’ trading capital in segregated accounts that are completely immune to any unauthorized transactions.
Opening An easyMarkets Forex Account & Trading On The easyMarkets Mobile App
easyMarkets has two extremes regarding the choice of a trading account. The conventional type of trading account is a standard affair with a minimum deposit requirement of $100 and a maximum easyMarkets leverage of 1:400. Since easyMarkets offers its products as CFD instruments, traders should expect market maker conditions with easyMarkets spreads being quoted at 1.8 pips. Realistically, we expect the spreads to be in the range of 3 pips, with some major currency pairs even seeing spreads as high as 6 to 8 pips. Since easyMarkets is also subject to the rules of the KNF authority of Poland, Polish Forex traders receive a lower leverage to accommodate for larger minimum margin requirements. The Polish arm of easyMarkets stipulates a maximum leverage of 1:100, but all other trading conditions remain the same.
VIP account holders have to deposit a minimum of $20,000 for superior benefits and lower trading costs, which sees clients getting access to a dedicated account manager that will offer you a custom-tailored brokerage service. Apart from competitive spreads, VIP accounts also get preferential treatment concerning withdrawals and other account features, which should be a priority for larger traders in the market.
There is a choice of two different Forex trading platforms from easyMarkets. The traditional MT4 terminal from MetaQuotes is a standard platform offering, while traders can also choose the branded easyMarkets Trader, which is a proprietary trading interface that is developed by the broker’s in-house designers and programmers. The easyMarkets Trader platform comes with a host of new features such as the dealCancellation feature, which allows traders to close their losing trades within the first 60 minutes of opening the order without incurring any losses. The dealCancellation feature is a great tool for high-frequency short-term traders that have the ability to recover their losses without losing a significant chunk of their trading capital. Unfortunately, the dealCancellation feature is only available on the desktop and mobile versions of the easyMarkets trading platform.
For mobile traders, the MT4 should provide a reliable mobile trading experience for both iOS and Android devices. There is also a dedicated easyMarkets mobile app for the easyMarkets Trader interface, which is also compatible with almost all smartphones and tablets running on the latest versions of the iOS, Android, and Windows operating system. If you are not comfortable with the new easyMarkets proprietary platform, you can always download and trade on the MT4, but you are sure to miss the excellent features on offer.
- Company Information
- Founded In: 2003
- Website: www.easymarkets.com
- Headquarters: Limassol, Cyprus
- Licences: CySEC, ASIC
- Phone Support: +357 25 828 899
- Instruments: Forex, Indices, Shares
- Trading Features
- Welcome Bonus: 50%
- Max. Leverage: 1:400
- Min. Deposit: $200
- Trading Signals: No
- Mobile Trading: Yes
- Automated Trading: No
Safe Deposits, Withdrawals, & easyMarkets Forex Bonus
The minimum amount of deposit and withdrawal is $100, which can be made through bank wire, credit card payments, or through e-wallets such as Skrill, WebMoney, and Neteller. All payments include a nominal fee for transfer; therefore, make sure that you understand all the associated cost of payments before making a transaction. Apart from bank wire, all other payment modes ensure a deposit within mere minutes, but initiating a withdrawal will take some time to be processed by the easyMarkets finance department. All deposits are eligible for a 50% deposit bonus, which are added as trading credits that can be withdrawn after trading the required number of lots.
easyMarkets is not your average Forex broker, as traders get to choose an insurance policy that enables them to get out of trades within an hour of opening a position in the market. The dealCancellation feature is perhaps the most revolutionary feature in the entire FX trading industry that can rewrite the success of the broker in the markets. However, always read through the broker’s terms and conditions before using any innovative feature, which does help to prevent any conflicts in the future.