Welcome to our comprehensive review of easyMarkets, one of the leading players in the world of online forex trading.
In this blog, we will delve into the various aspects of easyMarkets as a broker, exploring its features, trading conditions, leverage and margin requirements, customer service, deposit and withdrawal methods, and how it compares to other brokers in the market. Whether you’re a seasoned trader or just starting out, this blog aims to provide you with valuable insights into easyMarkets. Let’s embark on this journey to understand better what easyMarkets has to offer.
Introduction to easyMarkets
What is easyMarkets?
easyMarkets is a renowned brokerage firm that has been in operation since 2001. Initially launched as easy-forex, it was among the pioneers in the field of online trading. The company has always aimed to simplify the trading process, creating a platform that is both user-friendly for beginners and comprehensive enough for seasoned traders.
easyMarkets offers a broad spectrum of markets, including forex, commodities, options, indices, and precious metals. It also provides a mobile app for trading on iOS or Android devices.
One of the defining features of easyMarkets is its commitment to transparency and integrity. The company maintains consistent trading conditions, regardless of market volatility. It also offers a range of valuable trading tools and features such as free guaranteed stop loss, insideViewer, Freeze Rate, and dealCancellation.
With its headquarters in Limassol, Cyprus, easyMarkets has expanded its global presence with additional offices in Majuro, the Marshall Islands, and Sydney, Australia. It operates under the regulatory oversight of CySEC in Europe and ASIC in the Asian Pacific Region.
In essence, easyMarkets is a reliable and innovative forex broker offering a wide array of trading options on a user-friendly platform. Catering to both novice and experienced traders, easyMarkets provides a trading environment that is transparent, equitable, and centered around the customer.
Is easyMarkets a good broker?
easyMarkets is a well-regulated broker that has been serving its customers since 2001. It offers trading in a wide range of financial products worldwide through both its proprietary platforms and the industry’s standard MT4. This broker places a special focus on client protection.
easyMarkets provides a trading platform for forex and CFDs for commodities and cryptocurrencies. It is regulated by CySEC and has established itself as a reputable broker over the years. The platform is simple and versatile, friendly to new clients, and hosts a lot of features for experienced traders.
Clients also receive free guaranteed stop loss, no slippage, fixed spreads, and no funding or withdrawal fees from easyMarkets. There are unique features in the platform such as dealCancellation, Inside Viewer, and Freeze Rate. easyMarkets also includes financial calendar, market news, trading charts, and trading signals as the platform’s perks.
Whether easyMarkets is a “good” broker or not depends on the trader’s individual needs. However, with its wide range of offerings, user-friendly platform, and strong focus on customer protection, it has proven to be a solid choice for many traders.
Is easyMarkets a market maker?
Yes, easyMarkets is a market maker. As a market maker, easyMarkets provides a trading platform for forex and CFDs for commodities and cryptocurrencies. They are proud to be a market maker because it enables them to keep offering fixed spreads whatever the market volatility is.
They claim to not disable trading and conditions always remain the same. The major source of earnings for market makers like easyMarkets is the spread between the bid and the ask prices. They earn their income from the spread and maintain neutrality regarding the direction of any or all deals made by its traders.
They manage their exposure by hedging in bulk, aggregating all client positions and passing some, or all, of their net risk to their liquidity providers. This approach is in accordance with their risk management policy and legal requirements. So, in essence, as a market maker, easyMarkets plays a crucial role in maintaining liquidity and efficiency in the markets it operates in.
Is easyMarkets trustworthy?
Yes, easyMarkets is generally considered to be a trustworthy broker. It has been serving customers since 2001 and offers trading in a wide range of financial products. The company is known for its transparency and commitment to customer protection. It provides a user-friendly platform for both new and experienced traders and offers a variety of features such as free guaranteed stop loss, insideViewer, Freeze Rate, and dealCancellation. easyMarkets is regulated by CySEC in Europe and ASIC in the Asian Pacific Region, adding to its credibility.
easyMarket Trading Platform and Tools
What trading platforms does easyMarkets offer?
easyMarkets offers a variety of trading platforms to cater to the needs of its users. These include:
- easyMarkets Web Platform: This is their proprietary online trading platform. It’s designed to be intuitive, powerful, and simplified. It offers unique tools like dealCancellation, Freeze Rate, and Inside Viewer.
- easyMarkets App: This innovative and intuitive app allows you to trade on any iOS or Android device, giving you access to markets anywhere, anytime.
- MetaTrader 4 (MT4): easyMarkets also offers the popular MT4 platform, which is widely used by forex traders around the world.
- MetaTrader 5 (MT5): In addition to MT4, easyMarkets provides the newer and more advanced MT5 platform.
- TradingView: This platform is integrated with easyMarkets and offers advanced charting and analytics.
Each platform has its own unique features and advantages, so traders can choose the one that best suits their trading style and needs.
What unique trading tools are available on easyMarkets?
easyMarkets offers several unique trading tools designed to enhance the trading experience and provide additional control and protection to its users. Here are some of them:
- Freeze Rate: This feature allows traders to freeze live rates momentarily to open or close trades. It provides a small margin of time to buy or sell the instrument you are trading using the ‘frozen’ rate.
- Inside Viewer: This is a market sentiment indicator that allows traders to see what other traders are doing. It provides insights into market trends and trader behavior.
- dealCancellation: This innovative feature allows traders to undo losing trades within a certain timeframe for a small fee. It’s like an insurance policy for your trades.
- easyTrade: This feature offers limited risk trading with unlimited potential. It allows traders to trade without margin requirements and zero spot spreads.
- Guaranteed Stop Loss: This risk management feature ensures that you will never exceed what you are comfortable risking. If the price reaches your set level, your position will close.
- Negative Balance Protection: This feature ensures that your account will never go below zero, protecting you against losing more than you invested.
These tools, combined with easyMarkets’ user-friendly platform and strong customer support, make it a popular choice among traders.
Does easyMarkets allow hedging?
Yes, easyMarkets does allow hedging. Hedging is a method used to reduce the risk of an existing investment at times of adverse movements in the market. Options are commonly used by private investors and businesses to hedge open or future deals. If you have an open deal and you want to lock-in the profit or limit the loss, but don’t want to close your trade, you could hedge it with an option. The effect of an option hedge is to keep the profit potential open, yet limit (hedge) any loss
easyMarket Account Types and Trading Conditions
What types of trading accounts does easyMarkets offer?
easyMarkets offers five different types of trading accounts to cater to the diverse needs of traders. These include:
- Standard Account: This is the basic account type suitable for most traders. It offers fixed spreads and a minimum transaction size of 0.01.
- Premium Account: This account type offers lower spreads compared to the Standard Account and requires a higher minimum deposit.
- VIP Account: The VIP Account offers the lowest spreads and requires the highest minimum deposit. It’s designed for high-volume traders.
- Islamic Account: This is a swap-free account designed for traders who need to comply with Islamic Sharia law.
- Demo Account: The Demo Account allows new traders to practice trading with virtual money before they start trading with real money.
Each account type has its own set of conditions for commission, margin calls, leverage, and minimum deposits. The account types vary according to what traders require.
What are the trading conditions at easyMarkets?
easyMarkets offers a variety of trading conditions designed to help you analyze the markets, monitor your trades, and manage your risk. Here are some of the key trading conditions at easyMarkets:
- Negative Balance Protection: Your account is guaranteed to never go below zero. This has been a standard on all easyMarkets accounts since 2001.
- Guaranteed Stop Loss: This tool allows you to set your maximum risk. It protects your account from runaway losses.
- No Slippage: The price you see is the price your trade will be placed at. This ensures you will never be surprised by a spread change during volatility.
- Fixed Spreads: No matter what the market conditions, your bottom line will never change with Fixed Spreads.
These trading conditions, combined with their unique trading tools and customer support, make easyMarkets a popular choice among traders.
easyMarkets Leverage and Margin Requirements
What is leverage and margin requirement?
Leverage and margin are two important concepts in trading, especially in forex and CFD trading.
Leverage is a tool that traders use to amplify their exposure to a financial market without increasing their capital investment. It’s expressed as a ratio. For example, if a broker offers a leverage of 1:100, it means that for every $1 of your capital, you can trade $100 worth of a currency pair or other financial instrument. This allows traders to control larger positions with a smaller amount of money.
Margin, on the other hand, is the amount of money required in your account to maintain your market positions using leverage. It’s essentially collateral or a deposit required to open a leveraged position, or a trade. Margin requirements are usually expressed as a percentage of the full position size. For example, a 1% margin requirement on a $10,000 position would require $100 of the trader’s funds.
It’s important to note that while leverage can magnify profits, it can also magnify losses. Therefore, it’s crucial to understand these concepts and use them responsibly when trading. Always be aware of the risks involved and manage your risk appropriately.
What is the leverage on easyMarkets?
easyMarkets offers a high leverage of up to 1:2000. This means that for every dollar in your account, you can trade up to $2000 worth of a currency pair or other financial instrument. While this high leverage can provide the opportunity for significant profits, it also comes with increased risk. Therefore, it’s crucial to use leverage responsibly and understand the potential implications. Always remember that while leverage can amplify your potential profits, it can also magnify your potential losses.
easyMarkets Customer Support
How can I contact easyMarkets customer support?
You can reach out to easyMarkets customer support through several methods:
- Email: You can send an email to their customer support at support@easymarkets.com.
- Phone: You can call them at +357 25 828 899.
- WhatsApp: You can add the following easyMarkets number to your contact list +357 99 875 998, open WhatsApp and select the number you’ve just added to start chatting.
- Facebook Messenger: You can like or follow easyMarkets on Facebook, open messenger and find easyMarkets to start chatting.
Their customer support is available Monday-Friday 8:00-22:00 GMT +2. Please note that the response time may vary depending on the method of contact.
What languages does easyMarkets support team speak?
easyMarkets’ customer service staff provides support in several languages. These include English, Arabic, Italian, German, Spanish, Chinese, and Polish. This multilingual support ensures that traders around the world can communicate effectively and receive assistance in a language they are comfortable with.
easyMarkets Deposit and Withdrawal Methods
What deposit methods does easyMarkets accept?
easyMarkets offers a variety of deposit methods to cater to the diverse needs of its traders. These include:
- Bank Wire Transfer: This is a secure method to transfer funds directly from your bank account to your easyMarkets account.
- Credit/Debit Cards: easyMarkets accepts major credit and debit cards such as VISA, MasterCard, and American Express.
- Online Banking: This includes various online banking methods that are available in specific countries.
- eWallet: easyMarkets supports several eWallet options for deposits.
- Crypto currency Deposits: easyMarkets also accepts deposits in certain cryptocurrencies.
Please note that the availability of these deposit methods may vary depending on your country of residence.
What is the minimum deposit for easyMarkets?
The minimum deposit to open a real trading account with easyMarkets is $100. However, the minimum deposit can vary depending on the type of trading account you choose. For instance, for a VIP account, the minimum deposit requirement is significantly higher. Please note that deposit activation can take up to 72 hours.
What is the minimum withdrawal from easyMarkets?
The minimum withdrawal amount from easyMarkets is $50 for Bank Transfers. However, for other withdrawal methods such as eWallets or credit/debit cards, there are no minimum withdrawal amounts. Please note that these conditions can vary, so it’s always a good idea to check with easyMarkets’ customer support for the most accurate and up-to-date information.
easyMarkets vs Other Brokers
Why should you choose easyMarkets over other brokers?
There are several reasons why you might choose easyMarkets over other brokers:
- Comprehensive Trading Platform: easyMarkets offers a real-time Forex trading platform, providing a complete suite of tools for Web, Desktop, Mobile and MT4 trading.
- 24/7 Support: They offer 24 hours a day support and Dealing room service.
- Educational Resources: easyMarkets provides One on One Forex training, The Trading School – Video on Demand trading lessons, and seminars.
- Innovative Tools: easyMarkets offers unique tools like dealCancellation, which gives you the ability to undo a losing trade within 1, 3 or 6 hours.
- Regulated Broker: easyMarkets is a regulated broker, which adds to its credibility.
- Wide Range of Trading Instruments: easyMarkets offers a wide range of trading instruments including forex, commodities, cryptocurrencies, and CFDs.
Remember, the best broker for you will depend on your individual trading needs and goals.
How does easyMarkets compare to Plus500?
easyMarkets has several distinct advantages over Plus500 that make it a strong contender in the trading platform market:
- Trading Costs: easyMarkets offers a competitive edge with its fixed spread of 0.70 for EUR/USD, which is significantly lower than the standard spread of 1.70 offered by Plus500 for the same pair.
- Risk Management Tools: One of the standout features of easyMarkets is its comprehensive range of complementary risk management tools. These tools not only provide an added layer of security for traders but also contribute to making their spreads wider, offering a more predictable trading environment.
- User-Friendly for Beginners: easyMarkets is particularly well-suited for beginners. With its fixed spreads and robust risk management tools, it provides a more controlled and less complex trading environment, making it easier for novice traders to navigate.
While Plus500 may have its strengths, easyMarkets shines in these areas, making it a viable choice for traders, especially those who are just starting their trading journey.
Conclusion easyMarkets Broker Review
Is easyMarkets a reliable forex broker?
Yes, easyMarkets is considered a reliable forex broker. It has a good reputation and high compliance with jurisdiction, being regulated by two top-tier regulators with strong requirements. The platform has a Trust Score of 8.8 out of 10. However, it’s important to note that trading in financial assets with easyMarkets carries a risk of loss due to factors such as inadequate market research, lack of experience, or failure to use the platform tools. Also, some users have reported issues with international trading via the offshore entity. As with any broker, it’s recommended to do thorough research and consider multiple sources before making a decision.
What are the pros and cons of trading with easyMarkets?
Trading with easyMarkets comes with its own set of advantages and disadvantages. Here are some of the key points:
Pros:
- Competitive Spreads: easyMarkets offers a competitive spread on forex trading.
- Low Minimum Deposit: The low minimum deposit is the same for both standard and VIP accounts.
- Unique Markets: Unique markets like Vanilla options and forex futures are available.
- Intuitive Trading Platform: easyMarkets provides an intuitive trading platform.
- MetaTrader Support: easyMarkets supports MetaTrader.
- No Commission Fees: There are no commission fees with easyMarkets.
Cons:
- Fixed Spread: The fixed spread may not be ideal for everyone.
- Limited Asset Classes: While easyMarkets offers a strong range of forex pairs, it might be disappointing on the depth of offering in other asset classes.
- Restricted Regions: There are many regions, including the U.S.A., where easyMarkets is restricted.
- Limited Educational Resources: The educational resources provided by easyMarkets are limited and not updated frequently.
Please note that the suitability of easyMarkets would depend on individual trading needs and goals.