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Home / Broker / Easy Markets broker review

Review of Easymarkets Broker

4.4/5
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EasyMarkets is a well-established forex, commodities, and cryptocurrencies online broker. Originally established in 2001 as EasyForex, in 2015 the brokerage revamped its image and broadened its trading products that it now offers to traders. EasyMarkets proports a clientele base of over 100,000 traders and has accumulated over $1.2 trillion in trading volume since its inception. It is headquartered in Limassol, Cyprus, with additional locations in the Marshall Islands, Warsaw, Shanghai and Sydney. EasyMarkets’ group of companies, through its subsidiaries, is licensed by the Cyprus Securities & Exchange Commission (Easy Forex Trading Ltd – CySEC, License Number 079/07), and has been passported in the European Union through the MiFID Directive, and in Australia by ASIC (Easy Markets Pty Ltd – AFS license No. 246566).

A thorough review of EasyMarkets revealed that their website is very comprehensive and informative, yet user-friendly. It provides traders with a all the information necessary to get started trading in the forex, commodities, and cryptocurrency markets. Below is a breakdown of each of the most important components of EasyMarkets.

Markets Offered

EasyMarkets makes markets in over 200 tradable instruments including the forexes, commodities, precious metals, major indices, and the more popular cryptocurrencies including Bitcoin, Ripple, and Ethereum. Traders can trade spot markets, contracts for difference (CFDs), or options.

Account Features

EasyMarkets espouses the philosophy of “keeping their traders safe.” This is reflected in the features that are part of the various accounts that are offered to their clients. Free guaranteed stop loss orders protect traders from exceeding unnecessary risk. EasyMarkets also provides its traders with two useful features for managing risk. The first is referred to as a freeze rate. Traders are given a small margin of time for which they can freeze a price on an instrument that they want to buy or sell. The trade is executed at the “frozen” price. The second is DealCancellation, another innovative tool that easyMarkets offers to its traders. This feature allows traders, for a small fee, to undo a losing trade for up to an hour, regardless of the loss incurred. Below is a table displaying the different types of accounts.

Account Types

 Super VIPVIPPremiumStandard
PlatformWeb/AppWeb/AppMT4Web/AppMT4Web/AppMT4
Minimum transaction sizeNegotiable1 lot (negotiable)1 or 0.01 lot0.5 lot0.05 lot0.05 lot0.01 lot
Fixed SpreadsEUR/USD as low as 1.2 pipEUR/USD 1.8 pipsEUR/USD 2.5 pipsEUR/USD 3 pips
GBP/USD as low as 1.9 pipsGBP/USD 3 pipsGBP/USD 3.3 pipsGBP/USD 3.5 pipsGBP/USD 3.5 pipsGBP/USD 4 pips
WTI(OIL)  as low as 0.04 USDWTI(OIL) 0.05 USDWTI(OIL) 0.06 USDWTI(OIL) 0.07 USD
XAU as low as 0.45 USDXAU 0.45 USDXAU 0.50 USDXAU 0.50 USD
Minimum deposit50.000 USD2.500 USD1.000 USD100 USD
Max leverage – Web1:2001:200 1:200 1:200 
Max Leverage – MT4– 1:400 1:400 1:400
Commission0000
Account Fees0000
Deposit/Withdraw0000
Customer Supportyesyesyesyesyesyes  
over the phone
Personal Account Manageryesyesyesyesyesyesyesyes
24/5 phone and live chat tradingyesyesyesyesyesyes  

There is a rolling charge for trading currencies beyond intraday. Precious metals including gold, silver, palladium and platinum are traded as spot trades and also have rolling fees. Commodities and indices are traded as CFDs, so they have a fixed expiry date with rolling fee. Rolling fees are not charged on options.

All funds for EasyMarkets accounts are segregated and are kept safe and secure in top tier, low credit risk, global banks. Only account holders have access to the funds. EasyMarkets always maintains sufficient liquid capital to cover all client deposits and to cover potential fluctuations in the company’s currency positions and outstanding operating expenses. EasyMarkets does not take U.S. Clients, but Islamic account are available.

There are no commissions on deposits and withdrawals. EasyMarkets accepts credit and debit cards, bank transfers, e-wallets such as Neteller, WebMoney, Skrill , Global Collect and others for funding. For withdrawals to credit/debit cards and e-wallets there is no minimum withdrawal amount. For withdrawals to bank accounts, a minimum amount of USD 50 is required. EasyMarkets actively engages in bonus and referral programs as a means to attract new traders.

Trading Platforms

EasyMarkets offers two trading platforms and a mobile application for trading on the go. The first is the standard Meta Trader 4 (MT4) that is very popular and widely used by many forex brokers and traders. EasyMarkets also has a proprietary web-based platform. It is very intuitive and user friendly for executing trades and monitoring positions. It provided basic analytical tools and is custom made for using all the features provided by EasyMarkets. However, it lacks the sophistication of MT4 for testing and automating trading strategies. Both platforms offer a demo account. Below is a screenshot of the web-based platform.

There are a few options that are not available to MT4 users as noted in the table below.

Features for Trading Platforms

 easyMarkets PlatformMT4 Platform
dealCancellation cancel a deal in 1 hour if markets move against youyesno
Free Guaranteed Stop-Lossyesyes
Manage risk with a predetermined price level
One Button Tradesyesyes
“Buy” or “Sell” with just one click or tap
Day trade, pending dealyesyes
Vanilla Options, forward dealyesno
Integrated News, Charts and Moreyesno
No Slippage, The price you see is the price you place your tradeyesno
Micro lotsyesyes
50% Stop Out. 70% margin call level for MT4 platform.yesyes
Automated processes, EAsnoyes
MultiTerminal for advanced usersnoyes
Technical charts, analysis tools and chart overlaysyesyes
Predesigned and custom trading templatesyesyes

Education

The EasyMarkets website provides a host programs and material for beginner, intermediate or advanced traders. These include instructional videos, trading guides and manuals, e-books, an online explanations of key trading terms and concepts, and a full financial calendar.

Customer Support

EasyMarkets provides customer support via live Chat is open during working hours, through email contact, or by contacting a representative at EasyMarkets via telephone to the main headquarters in Limassol, Cyprus or to their offices in Warsaw, and Sydney, Australia. The website is in English, Chinese, Arabic and Polish.

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Trading Forex, Crypto currencies, shares, commodities and other instruments comes with a degree of risk. This can vary by instrument and is dependent a huge range of market and non-market factors. All brokers have a percentage of their retail traders / investors that lose money when trading. We advise all retail investors to ensure they can afford to undertake this risk and potential loss. Choosabroker.com uses best endeavours to provide up to date, relevant and impartial information to help in your broker evaluation process. If you require further information about our service, please do not hesitate to use our contact form.

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