Easy Markets Review
Introduction and Background information
easyMarkets (formerly easyForex) was founded in 2001 and is an early pioneer in offering retail forex trading. Easymarkets is best known for its proprietary web.based platform easy to use with two notable beginner friendly features – deal cancellation and freeze rate.
Account types
easyMarkets offers three account types for which trading costs (spreads + any commissions) vary, and spreads are fixed (not variable) across web platform, MetaTrader4 (MT4), and a VIP account
Instruments
easyMarkets has Forex (Spot trading) with 62 currency pairs and offers a total of 199 CFDs. They do allow cryptocurrencies to be traded as actual but only as CFDs.
They also offer Social trading or copy trading solutions
Education
Regulation
easyMarkets obtained regulatory status with the Australian Securities and Exchange Commission (ASIC) in 2005 under Easy Markets Pty Ltd, and in 2007 with the Cyprus Securities and Exchange Commission (CySEC) under Easy Forex Trading Ltd.
EasyMarkets has its own proprietary platform on mobile app- both iOS and Android – equipped with features such as watchlist syncing, forex calendar etc. to satisfy its traders needs. It also has the desktop and mobile platforms powered by MT4 and the web trader platform
easyMarkets does not support the MetaTrader 5 platform.
Tools
easyMarkets platform provides two unique offerings the deal Cancellation and Freeze Rate for a small fee. The deal Cancellation feature gives you a specific amount of time to have the option to undo your trade and reclaim your losses. Meanwhile, the Freeze Rate button allows you to “freeze” a quote for three seconds (also for a small fee).
Both tools appear attractive, but clearly, easyMarkets advertises them for a reason, which means that overall, they must be profitable for easyMarkets. Also, in support of less experienced traders, easyMarkets platform offer guaranteed stop-loss orders (GSLO) for free, compared to most brokers who charge a small premium
Deposit and Withdrawals
Deposits and withdrawls can be made using Mastercard, Visa and a number of other options
Fees (Spreads/commission)
easyMarkets platform, offers spreads averaging to 3 pips when trading the EUR/USD using the MT4 account while for a premium on its VIP and web platform with minimum deposits of $2500 and $250 respectively it offers fixed spreads of 0.9pips on the EUR/USD
Execution
easyMarkets are market-makers. Read up on our blog post on market-makers here
Customer Support
easyMarket has a good customer support service with several platforms such as live chat, call and email as means where they can be reached with above average response time
Promotion
There are no promotions ongoing as at the time of updating this page
However, easyMarkets offers virtual/demo trading allowing beginners to get accustomed to the markets in real time without losing their money.
Conclusion
Easymarkets is a decent trader and offers enough value to make you want to choose them. However, their three pip fixed pair on the EUR/USD pair makes its metatrader4 account quite expensive when compared with other brokers.
