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 VIP
VIP
Premium
Standard
Platform
Web/App
Web/App
MT4
Web/App
MT4
Web/App
MT4
Minimum transaction size
Negotiable
1 lot (negotiable)
1 or 0.01 lot
0.5 lot
0.05 lot
0.05 lot
0.01 lot
Fixed Spreads
EUR/USD as low as 1.2 pip
EUR/USD 1.8 pips
EUR/USD 2.5 pips
EUR/USD 3 pips
GBP/USD as low as 1.9 pips
GBP/USD 3 pips
GBP/USD 3.3 pips
GBP/USD 3.5 pips
GBP/USD 3.5 pips
GBP/USD 4 pips
WTI(OIL) as low as 0.04 USD
WTI(OIL) 0.05 USD
WTI(OIL) 0.06 USD
WTI(OIL) 0.07 USD
XAU as low as 0.45 USD
XAU 0.45 USD
XAU 0.50 USD
XAU 0.50 USD
Minimum deposit
50.000 USD
2.500 USD
1.000 USD
100 USD
Max leverage – Web
1:200
1:200
1:200
1:200
Max Leverage – MT4
–
1:400
1:400
1:400
Commission
0
0
0
0
Account Fees
0
0
0
0
Deposit/Withdraw
0
0
0
0
Customer Support
yes
yes
yes
yes
yes
yes
over the phone
Personal Account Manager
yes
yes
yes
yes
yes
yes
yes
yes
24/5 phone and live chat trading
yes
yes
yes
yes
yes
yes
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 Platform
MT4 Platform
dealCancellation cancel a deal in 1 hour if markets move against you
yes
no
Free Guaranteed Stop-Loss
yes
yes
Manage risk with a predetermined price level
One Button Trades
yes
yes
“Buy” or “Sell” with just one click or tap
Day trade, pending deal
yes
yes
Vanilla Options, forward deal
yes
no
Integrated News, Charts and More
yes
no
No Slippage, The price you see is the price you place your trade
yes
no
Micro lots
yes
yes
50% Stop Out. 70% margin call level for MT4 platform.
yes
yes
Automated processes, EAs
no
yes
MultiTerminal for advanced users
no
yes
Technical charts, analysis tools and chart overlays
yes
yes
Predesigned and custom trading templates
yes
yes
Education
EasyMarkets has a comprehensive and exhaustive collection of educational resources. The platform has served traders since 2001 and has been rated Excellent by over 1,400 reviewers on Trustpilot. It offers an intuitive and innovative mobile trading app that provides market analyses at clients’ convenience.
Its learning center contains easy-to-access videos, courses, e-books and articles, giving traders all the tools and knowledge necessary to understand commodities, forex trading and the current cryptocurrency market.
The platform’s courses and videos have something for every kind of trader, regardless of experience level. Beginner traders will appreciate its introductory courses, which revolve around financial trading, technical and fundamental analysis, risk management and other significant learning barriers. Intermediate or expert traders benefit from lessons concerning trading psychology, forex, commodities, crypto and other technical issues.
The e-books provide a thorough understanding of trading terms and details, serving as a supplement to video courses. Like the platform’s courses, easyMarkets’ e-books cater to all experience levels, providing a range of informational texts, from introductory lessons to detailed trading guides and tips. They are free to download for all clients.
On the easyMarkets website, the Knowledge Base section elaborates on common questions and topics concerning trading. The subsection Discover Trading, for example, explains common jargon such as day trade and leverage or abbreviations and acronyms.
EasyMarkets explains handy terms and words in its glossary sections. Its Market and Trading Glossary gives short descriptions of common terms used in trading. Meanwhile, the Economic Indicators glossary arranges various “indicators ” — policies or data that impact the marketplace — based on their significance.
Each indicator comes with useful descriptions of its background and impact on trading trends. Highly significant indicators like the trade balance of the Department of Commerce may massively shake up the market. In contrast, indicators of low significance are often subtle or predictable in their effects.
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.
With over two decades of experience, easyMarkets is widely considered one of the safest brokers for CFD and forex trading. EasyMarkets does not currently operate any banks, nor is it publicly traded. It follows regulations from a tier-1, tier-2 and tier-3 jurisdiction, making it of average risk for traders.
In its attempt to fulfill its promise to keep traders safe, the platform boast countless features concerning safety. Its Freeze Rate and dealCancellation features provide traders a layer of security in managing risks. Freeze Rate gives traders a small window of time to “freeze” the price of an instrument they want to sell or purchase. DealCancellation is a tool that allows traders to cancel or retract a trade within an hour’s time limit, regardless of any loss inflicted in the trade. However, dealCancellation incurs a small fee with each use.
Other security-related features easyMarkets provides include negative balance protection and capital adequacy. In addition, the platform implements a 256-bit SSL encryption for safeguarding client funds and data. It also segregates funds into highly-protected bank accounts to ensure clients’ safety.
EasyMarkets also maintains a consistent customer service portal. Clients can connect with the platform’s customer service through various systems, such as social media, live chat, phone hotline, or email. Their social media and live chat options provide quick support, whereas their email may take some time to answer. However, their phone hotline gives the most comprehensive solutions to any questions clients may have about the platform.
FAQ
Which cryptos/indices/commodities do easyMarkets accommodate?
The easyMarkets platform accommodates a variety of products, including cryptocurrencies, indices, commodities and more. In its cryptocurrency catalog, clients can find Ethereum, Ripple and Bitcoin.
Indices comprise combined stocks rather than individual ones. On the easyMarkets platform, clients can find a lengthy list of indices from different parts the world, including the U.S., Europe and Asia. Clients can trade indices at specific hours and days based on GMT. The schedules can be found here.
EasyMarkets also facilitate the trading of energy and agricultural commodities. At the time of writing, easyMarkets offers energy commodity trades in Brent oil, WTI crude oil, heating oil, natural gas and gas oil. The agricultural commodities it offers are corn, wheat, soybeans, coffee, cotton, sugar and cocoa.
How much are the fees?
EasyMarkets prices depend on the deal type and size, but products are often offered at around US$25. However, some products may charge rolling fees. EasyMarkets’ web platform charges a renewal or rolling fee weekly at 22:00 GMT.
MT4 also charges a rolling fee daily at 00:00 GMT. The MT4 rolling fee charges five days a week. However, to cover weekend costs, Wednesday is charged three times over. That said, if there are cryptocurrencies being traded, Friday will be charged three times instead. These fees are taken from the balance once the position closes.
Does easyMarkets have any current deposit or bonus offers?
EasyMarkets provide various bonuses, promotions and special offers to thank its clients. The promotions are subject to change and can be read here. Some of the promos it has offered include first-time deposit bonuses, referral rewards and partnership or affiliate programs. First-time traders may be able to receive up to US$2000 of tradable bonus, depending on 50 percent of their first deposit. Inviting or referring others to easyMarkets allows clients to earn up to US$ 750 in credit based on the referred member’s initial deposit and turnover. Its partnership program also rewards channels that promote the platform.
Pros
Offers high leverage trading. Clients in the EU can use up to 30x leverage, outside of the EU can use 400x leverage
Clients that upgrades to a VIP account will have access to a personal adviser; help with market information and insight
‘Risk-free’ trading option that allows traders to cancel their trade within an hour of making it
Cons
Doesn’t offer its demo account for more than 8 days, far less than many other platforms
Fee structure isn’t straightforward and changes based on product being traded