easyMarkets Forex Broker Review
Last Updated: October, 2019.
Have you heard of easyForex.com? Have you heard of easyMarkets.com? The latter name is actually the re-branded new look and feel of the former. After a successful ride of over sixteen years as a traditional retail forex trading broker, the firm decided to transition to the easyMarkets brand to signify that it was now much more than just forex. An industry leader and innovator, the broker opened its doors for business in 2001, but by 2013, over 100,000 active traders were using its platform and had amassed over $1.5 trillion plus in accumulated trading turnover in those initial twelve years. The firm has since broadened its product offering to include CFDs in commodities and indices, while adding forward forex contracts and vanilla options, two service offerings that you would be hard pressed to find at any other brokerage house in the retail forex trading space.
Trust Pilot Ratings
This management team has already earned a reputation for simplicity and transparency, another reason that traders across the globe have jumped onboard. easyMarkets is licensed and regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license #079/07, and in Australia, by the Australian Securities & Investments Commission (ASIC) under number 246566. Regulatory compliance with two major agencies ensures client deposit safety and segregation in Top-Tiered banks and that order execution is quick and without slippage. There is one standard account process, but customer service assistants will also brief you on possible account upgrades that will provide access to enhanced spreads and support. The firm provides a broad array of currency pairings from major through exotic, and, when combined with CFDs and vanilla options, one can access over 200+ market instruments on a given day.
A portion of the firm’s success comes from its innovative proprietary trading platform that includes features that you will not find elsewhere. It is a “no nonsense”, web-based type system that keeps you focused on what you need to know to be successful. If you prefer to trade with what is familiar to you, then you can always opt for the Metatrader4 platform option of your choice, both desktop and mobile. Spreads are fixed and vary by account status and asset type. A VIP member can avail themselves of 1.8 pip spreads for most major pairs. A Standard account starts at 3 pips, with leverage up to 1:30. Free SMS signals and alerts and Negative Balance Protection are also here for the asking, as are promotions and contests. Lastly, customer service representatives are available “24X5” to assist you in every way, while the firm’s learning and support center is both comprehensive and designed to serve every level of trader. Unfortunately, U.S. customers are not accepted at this time.
Why trade with easyMarkets.com? The firm lists these reasons:
- Founded in 2001 as easyForex and headquartered in Limassol, Cyprus;
- Additional branch offices in Sydney, with operating licenses in both Europe and Australia;
- Regulated by both CySEC and ASIC;
- Numerous industry awards (see the company’s timeline for details);
- Client deposits segregated from operating capital in Top-Tier bank accounts;
- 136 major, minor, and exotic forex pairs, including spot, forward, and vanilla options;
- 200+ markets can be traded via forex, vanilla options, and CFD offerings;
- Standard trading account may be upgraded to receive lower fixed spreads (spreads can vary from 1.8 to 3 pips based on account class);
- Free Demo and Islamic accounts;
- Minimum Deposit = $100;
- Leverage can range by asset class up to as high as 1:30;
- Metatrader4 trading platform or firm’s proprietary web-based platform;
- Mobile applications supported;
- Free Trading Signals and SMS alerts;
- Negative Balance Protection, scalping, hedging, and Expert Advisors (EAs) are supported, as well;
- Comprehensive learning center for every level of trader, supplemented by daily market commentary and advanced charting tools;
- Customer service “24X5” via live chat, email, fax, phone, or direct contact through its global network of offices.
- Risk Free Trades with DealCancellation*
*Terms and Conditions Apply
Spreads and Leverage
Spreads and leverage vary by account class and asset type. For forex pairings, spreads are fixed as low as 1.8 pips, if you have VIP status, or 3 pips, if you do not. Leverage will vary for CFDs and other instruments, but currency trading leverage can be as high as 1:30. Leverage on cryptocurrencies are set at 1:50 for clients outside of the EU.
The firm’s innovative proprietary trading platform is worth a look. It is totally web based, no tricky downloads necessary. It has been stripped down to the very basics, while still being augmented with unique features like “Inside Viewer”. The broker also supports the highly popular Metatrader4 product line, as well. You may employ your favorite “Expert Advisor” and enjoy swift execution without slippage or re-quotes. Mobile applications are also supported. Security and safety are assured by the company’s use of the latest in encryption technology protocols to protect both your trading activity data, as well as your personal identity information.
Deposits and Withdrawals
Deposits follow the familiar path of credit and debit cards or bank wires, but, if you prefer a local payment system to handle your money transfer needs, then the firm also supports other payment alternatives like Skrill, Neteller, WebMoney, and others. To ensure a smooth withdrawal process, be sure to keep your personal identity data, as required by international AML regulations, up to date and in order, as prescribed by the website.
Beginner’s and Customer Support
Customer service representatives are available “24X5” during market hours to answer your queries and to provide guidance and instruction. They can be accessed by live chat, email, fax, or phone. The firm’s learning center includes videos, ebooks, glossary, FAQs and training articles for all levels of expertise. Daily market commentary, trading charts and tools, and an economic event calendar round out the package.
Few brokerage firms have acquired as broad a level of global support, as has the group at easyMarkets, formerly easyForex.com. Firms do not rise to such stardom without providing stellar service and support for an economical price. Throw in regulatory compliance in two major markets from two major regulatory bodies, and you have an unbeatable combination for trading currencies, commodities, indices, and vanilla options. If you are looking for a leader in the industry that prides itself on simplicity, transparency, and customer loyalty, then easyMarkets might be the partner for you.