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Established back in 2003, EasyMarkets is an internet based market maker trading under the name of ”Easy-Forex.” However, the service rebranded their operations in 2015, and with that came a brand new offering. Traders now have access to international markets via just one easy to understand trading account.
Based in Limassol, Cyprus the company is regulated by CySec which is the country’s financial regulatory body. It is also licensed by MiFid in Europe and ASIC in Australia. The company has offices in Sydney, Warsaw, London, and Shanghai. As of late, the company has boasted of a $1.5 trillion turnover with a user base spanning 100,000 traders.
Account and types
EasyMarkets offers just one type of trading account where the minimum trade is set at $100. Though the company does offer an Islamic account which allows traders to extend their deals into the next day. But they aren’t charged a rolling fee.
However, the max duration offered for all day trading deals is simply limited to just one month, though in some instances it can be shorter or even longer mainly depending on the currency pair that’s being traded.
It is also important to bear in mind for traders using the service is that they are subject to a rolling charge which is currency dependent. Since indices and commodities are considered CFDs and traded as such, they have a fixed date of expiration, and there is no rolling fee associated.
That said Gold, Palladium, Platinum, and Silver are spot trades and so there is a rolling fee associated. But the company does not charge a rolling fee on the options traded. Traders can expect to receive a 1:400 leverage, but that’s when using EasyMarkets’ proprietary platform.
The other good news is that newbie traders are entitled to a long-term demo account which is usable for life. As a matter of fact, this is the first broker we have seen offering a lifelong demo account.
Traders are also put in touch with a personal analyst who is available to anyone who updates their regular account to a VIP account. The analyst helps traders by giving them expert trading tips, offering over the phone trades and 24/7 availability. VIP account holders are also entitled to cash rebates and even regular SMS alerts informing them of market movements.
Features at a glance
In our opinion perhaps the most notable feature of EasyMarkets is their risk-free trading. The risk-free trading feature allows traders to easily cancel trades within just 60 minutes of executing them. This can come in handy if they see that the market is dipping or heading in the wrong direction.
The only step required is to engage the risk-free feature when executing the trade, after which they can let it run, or they can choose to cancel it. It is an excellent option for traders who are monitoring the market and want to also protect themselves from bad market conditions with unexpected swings.
Then there is a vanilla option which is only offered to traders but not to brokers. Vanilla options are different from regular binary options. To start with there is no limit as to the amount that is paid out with the options, whereas with binary options there is a limit.
Then vanilla options have expiration dates that are much more flexible and can easily be customized by a trader. On the other hand, a binary option expires within minutes or even a fraction of a minute.
Traders are not under any obligation to execute or make a move within a specified time or life of the option, while with binary options traders are stuck once the contract is entered into.
The other benefit is that traders can easily trade assets of all classes via the simple platform. They also have the option to choose free guaranteed stop loss, benefit from low fixed spreads, 24/5 multi-language support, and free training.
Promotions and Bonuses
One of the most significant selling points for EasyMarkets is the fact that they lead the industry when it comes to promotions. They also enable clients to choose which bonus they want. When reviewing the service, the bonus offered was a choice between a $25 welcome bonus and a $2000 or 50% tradable bonus on the first deposit.
They are also offering a sort of referral program where a trader can earn up to around $2500 for bringing new clients onboard. Traders can be turned into affiliate marketers by getting the word out about the service on just about every social media platform around and sharing the EasyMarket link.
Withdrawing and Depositing money
Traders can deposit money via debit, credit cards as well as e-Wallet solutions like Global Collect, Neteller, WebMoney, and Skrill. They also support traditional bank wire transfers.
EasyMarkets does not charge any commission on withdrawals and deposits.
Withdrawing to a debit or a credit card does not require a minimum withdrawal amount. Though a bank wire transfer has a mandatory minimum of $50 USD.
Using the Company’s Proprietary Platform
One of the reasons why traders should use EasyMarkets’ proprietary platform is because of their guaranteed fixed spread. Plus, traders using the platform also benefit from the take profit rate, guaranteed pending orders and stop loss.
Traders have the option of trading CFDs and Forex. Plus, the company allows for slippage. Advanced charting can also be used along with single click trading via the Market Explorer and even using EAs. Traders can access the platform 24/7. EasyMarkets also provide negative balance protection.
MetaTrader 4 (MT4)
MetaTrader 4 is easily one of the most popular trading platforms in the world. EasyMarkets fully supports the platform by offering guaranteed take profit rates, guaranteed fixed spreads and stop loss. Though guaranteed pending orders is not provided with MT4.
To use the MT4 platform users will have to download it. The other drawback is that it does not offer the full length of EasyMarkets’ products. Inside Viewer is also not included. Deposits, withdrawals can be executed from the trading platform though the chat feature can only be used via the official website.
EasyMarkets has a mobile trading app which was originally launched in April of 2017. It was and is meant to offer traders a way to integrate their trading activities into their regular lives regardless of where they are.
The mobile trading app is currently available for iOS and Android devices. Though the app offers a complete trading experience with the ability to completely replace desktop trading. Apart from executing trades, the app can be used to withdraw and deposit money directly.
They also have a uniquely suited deal cancellation service. The app includes a suite of risk management tools, a financial calendar, market analysis, and a full range of various charting options all from within the app.
The Inside Viewer feature of the app allows traders using EasyMarkets to watch what other traders are doing and copy their trades. The app is only available in Chinese and English as of this writing. Though we’re expecting that the company will add support for other languages in coming months.
EasyMarkets has a place where newbie and even intermediate or advanced traders can learn which is called the Learn Centre. The Learning Centre boasts of having various instructional videos, e-books, trading guides and various explanations outlining key trading concepts or terms.
Traders also benefit from a complete listing of explanations of all the key indicators that any trader should know. Things like Jobless Claims, Housing Starts, PPI are all well highlighted.
Then there is also a full A-Z glossary of all the various blogs that are available on a different site. They offer live trading rates, previous highs, current spreads and the highs/lows on all of their products.
We also like the fact that the company updates the market news many times a day along with a fully functional financial calendar. Then there is the chart analysis page which is meant to help traders select a product which they want to analyze or chart.
EasyMarkets’ representatives can be contacted via telephone which connects them directly to their headquarters in Limassol, Cyprus. The phone call can also be connected to the nearest office in Sydney, Australia, Warsaw, London or the Marshall Islands.
There is also a way for traders to contact the company via the contact form on the website. Alternatively, live chat is a lot more responsive and since it is in real time gives traders a chance to explain their problem in detail and receive an instant response. The website is currently available in only Polish, English, Arabic, and Chinese.
EasyMarkets makes a considerable effort to offer traders everything they will need to trade successfully. There are many assets to choose from, and the website is informative yet user-friendly along with a host of exciting features that you’ll not find with any other broker.
- Islamic Accounts and a lifetime demo account
- Various Innovative Features
- Lots of Educational Tools
- Just a single type of trading account