Based in Cyprus, easyMarkets is an online broker, which offers trading of Forex and contracts for difference (CFDs) on a wide range of asset classes, including shares, commodities, indices, and cryptocurrencies. The broker promises low spreads, reliable customer support, as well as convenient proprietary platform beside the industry-standard MetaTrader 4.
The firm was established in 2001 and started as a Forex broker under the name easy-forex. It expanded its market coverage, gradually adding more assets and trading instruments to its portfolio. By December 2016, it completed the transition to easyMarkets, a rebranding process that reflected its wider offering – along with various currency pairs, the broker started offering CFDs on commodities, vanilla options, indices, and metals.
In fact, easyMarkets now offers its clients plenty of ways to trade, including CFDs, options, forwards, and the new and innovative trading product easyTrade.
Although easyMarkets is not publicly traded, it is considered a safe and reliable FX and CFD broker. It is regulated by several reputable financial regulators and complies with all European and major international rules regarding the financial services sector. Over the years, it has won more than 30 international rewards for its services, including Best Forex Broker 2019 in Forex Expo Dubai and Most Innovative Broker at the World Finance Markets Awards.
The website, easyMarkets, is the trading name of Easy Forex Trading Limited, which is based and registered in Limassol, Cyprus. The company, which is also a part of the Blue Capital Markets Group, is regulated by the Cyprus Securities and Exchange Commission (CySEK). It is also licensed by the Australian Securities and Investments Commission (ASIC) and fully authorized to offer financial services in Australia.
Since the firm is authorized in the EEA (European Economic Area), it can also operate in the United Kingdom without a separate authorization granted by the UK Financial Conduct Authority (FCA). Complaints may be taken to the Financial Ombudsman Service in the UK. If the broker fails, clients may receive up to €20,000 under the Investor Compensation Fund in Cyprus. Certain clients in the UK may also be compensated up to €85,000 under the Financial Services Compensation Scheme (FSCS).
When the broker started in 2001, its main focus was offering Forex trading to professional and retail investors. In fact, easyMarkets was among the fist brokers to provide online Forex trading and credit card payments. However, it added more markets, hundreds of financial instruments, as well as various ways to trade them.
One of the largest, most active and most liquid markets in the world is the currency market, most commonly known as the foreign exchange or Forex (FX). Trading foreign currencies is particularly popular among retail investors because of the rapid movements in the market, the large variety of pairs that can be traded, and the relative simplicity of Forex instruments compared to other markets.
Clients of easyMarkets can trade Forex at any time of the day or night since the market is open nonstop, except for the weekends. All major currency pairs can be traded here, including EUR/USD, GBP/USD, AUD/USD, USD/JPY, USD/CAD, and USD/JPY. Other popular Forex pairs include the world’s most powerful currencies, including the U.S. dollar (USD), the Euro (EUR), the British pound (GBP), the Japanese yen (JPY), and the Swiss franc, of course (CHF).
There are also plenty of the so-called exotic pairs that can be traded – they include currencies such as CNH, ZAR, SEK, NOK, and many more. Traders can choose from various Forex spot markets or forwards and one of the most popular ways to trade is CFDs. The broker offers fixed spreads on FX pairs, which depend on the pair and the trading platform preferred by the investor. Starting from 0.9 pips for trading EUR/USD on MT4, the spreads are a bit higher than what is offered by competitors.
Due to the high volatility of this market, the prices change very quickly – to secure an order at the current rate, easyMarkets clients can take advantage of the Freeze Rate button. When they click it, the current rate is locked for several seconds, allowing investors to open a close a deal – the broker will try to execute the order at that specific rate, although there are certain limitations. Another interesting feature is the dealCancellation, which is available on select trades. With it, investors can cancel a losing trade for a small fee.
The online broker also offers its customers contracts for difference (CFDs) on company shares. This interesting investment product allows traders to profit from the price fluctuations of the shares without owning the underlying asset – the company stock in this case. CFD are derivatives that are traded with leveraged positions and margin trading, as it is referred to when speaking of the stock market, increases the risk for the investor.
However, easyMarkets has introduced several tools that would protect investors from the risks resulting from leverage. These tools are available exclusively for stocks CFDs and include guaranteed stop-loss and take profit features. In addition, the easyMarkets platform promises no slippage, which means that every trade would be executed at the exact price it was traded despite periods of high volatility.
Of course, investors who open Buy positions with share CFDs also receive dividends – clients with short positions would be debited the dividend amount. The broker charges stock CFDs spreads from 0.04 pips on the web and mobile platforms. The maximum leverage for this trading instrument is 1:5.
Crypto trade has become incredibly popular in the past few years with the rise of cryptocurrencies. It all started with the incredible success of Bitcoin, the first decentralized virtual currency in the world. However, easyMarkets does not offer trading Bitcoin or other cryptocurrencies as buying or selling the actual virtual currencies. Instead, clients can trade CFDs on several cryptocurrencies. Therefore, investors do not need to use exchange accounts or digital wallets.
Along with Bitcoin (BTC), easyMarkets clients can trade CFDs on Ethereum (ETH)– both are based on blockchain ledger technology and their prices are driven mostly by supply and demand. The same applies to Ripple (XRP), which launched in 2012, and in 2018, it became the second-largest coin by market capitalization after Bitcoin. The spreads here are fixed – quite high at US$40 for Bitcoin, $2.50 for Ethereum, and $0.04 for Ripple. The maximum leverage allowed for crypto trade is 1:2.
Commodities and Metals
Investors who decide to open an easyMarkets account can also buy and sell CFDs on a wide range of commodities. Just like with CFDs on stocks, trading CFDs on commodities does not require investors to buy or sell the underlying asset – wheat, soy, oil, etc. However, traders should consider factors such as supply and demand, weather conditions, supply chain disruptions, etc. to be able to predict whether the underlying commodity would rise or decline in value.
Various types of commodities can be traded at easyMarkets – agricultural ones such as wheat, corn, soybeans, sugar, coffee, cocoa, and cotton or energy products such as Brent oil, WTI Crude (West Texas Intermediate), natural gas, gas oil, and heating oil. The spreads start from 3 pips and the maximum leverage is 1:10. In addition to these commodities, easyMarkets offer CFDs and options on several types of metals, including gold, silver, copper, platinum, and palladium.
Options, much like CFDs, allow investors to profit from the price movements of the underlying asset. However, here, traders “bet” that the price of gold, for instance, will go beyond a particular rate or will go down. Vanilla options, as they are also known, are available only for metals, certain types of commodities, and Forex pairs.
Another great option for investors is to trade contracts for difference (CFDs) on global market indices. Indices, which are essentially baskets of different company stocks, are among the most popular trading instruments because they balance out the volatility of individual companies and their shares. They can be tracked easily and investors do not need to own the particular company stock to trade it.
With the wide range of index CFDs, available at easyMarkets, clients get exposure to some of the largest and most successful companies in the world. They can trade popular indices such as the US30 or Dow Jones Industrial Average, S&P 500, DAX 30, Nikkei 225, FTSE 100, EURO STOXX 50, and many others.
The broker offers several trading platforms where its clients can trade various instruments and access global markets. This includes easyMarkets’ proprietary platform and the popular MetaTrader 4. Most traders would probably instantly pick the MT 4 platform, which is available for desktops and mobile devices – the MetaTrader 4 app can be downloaded and installed on any modern iOS or Android devices.
When it comes to functionality, MT4 is one of the best options on the market – it is highly customizable, it comes with a great number of analytic tools and features, and it allows automatic trading. Traders can change the overlays and use different technical indicators, while the platform supports tho main types of orders, namely market orders and pending orders. When using the MT4 platform offered by easyMarkets, traders can access more than 80 markets, including Forex, indices, metals, commodities, and cryptocurrencies.
In addition, easyMarkets has its own web platform, which has a simple, intuitive design that makes it suitable for new clients of the broker. It also comes with tons of features for more experienced traders – it offers a news feed, charts, Inside Viewer, which shows the investor sentiment, and more. Clients can instantly switch between Day Trading, Forward Trading, Pending Orders, and the easyTrade feature. This is a unique trading ticket that has zero spot spread, the risk is limited, while the reward can be unlimited. The platform also features dealCancellation and Freeze Rate, as well as free guaranteed stop-loss orders.
To make trading easy and convenient for clients from all over the world, the broker accepts a wide range of payment methods and currencies. When new customers open an account with easyMarkets, they can choose from the following currencies – USD, EUR, GBP, CAD, AUD, NZD, CHF, SEK, NOK, CZK, PLN, ZAR, JPY, CNY, HKD, SGD, and TRY.
Investors can make a deposit into their brokerage account for free. Withdrawals are also free. The minimum deposit amount is $25, while the minimum withdrawal to a bank account is $50. There is no minimum amount for withdrawals to credit and debit cards or digital wallets. Also, most deposits are instant, while withdrawals are processed within 24 hours by the broker. It may take, however, 3 to 10 days until the withdrawal reaches the client’s account – this would depend on the bank’s processing times, on the client’s country of residence, as well as on the preferred payment method.
The choice of banking methods is impressive and investors can choose from several brands of credit/debit cards, including Mastercard, Visa, Maestro, American Express, JCB, and AstroPay. However, not all cards are available globally – JCB cards, for instance, can only be used in Europe, while AstroPay is not available to users in the European Union and Australia. Digital wallets are also accepted at easyMarkets – these include Neteller, Skrill, and the local Indonesian FasaPay.
Clients can also fund their trading accounts using online banking services by several different providers. It should be noted that most of these services are available only in certain countries and regions. Deposits via this type of payment method vary considerably in terms of processing time – GiroPay (Germany) and Sofort (Germany, Austria, Belgium, Netherlands, and the UK) transfers are processed within 2 hours, while the transactions through the Dutch service iDeal are instant. WebMoney (all countries except for Europe and APAC) and BPay (APAC only) take 1 business day to appear.
Ingenico transfers, however, are much slower, taking 3 to 5 days to complete. The broker offers several payment methods, available exclusively to clients in China – UnionPay cards, the payment app WeChatPay, as well as Alipay. Of course, wire transfers are also available.
The broker offers only a handful of traditional client accounts and does not feature any Islamic or joint accounts. Investors who wish to try out its platform and the see all available instruments and technical tools can also open a Demo Account. It comes with a $10,000 virtual funds that can be used for demo trading. Of course, to trade for real money, easyMarkets clients need to complete their registration on the broker’s website and switch to a Live Account.
Depending on their capital and experience, investors can opt for four different types of live accounts. When they sign up for the first time, the system would automatically open a Standard Account. Once they start making larger deposits and trading higher volumes, they will be able to choose a higher-tier account. Those who hold a Standard Account can deposit as little as $25 and trade with fixed spreads of 3 pips for the EUR/USD pair, for instance.
The minimum balance for opening a VIP Account is $100, while the fixed spread for the EUR/USD pair is 1 pip on the easyMarkets flagship platform and 0.9 pips on MT4. The minimum transaction is also lower on MT4 than it is on the broker’s platform – it is 0.01 lot on MT4 compared to 0.05 on the online/mobile platform. The maximum leverage, of course, remains the same at 1:30 under the European Securities and Markets Authority (ESMA)’s restrictions.
The customer support at easyMarkets is professional and reliable. The support representatives respond within seconds when contacted via the Live Chat. There are also multiple phone lines available for clients from different countries but investors can always call +181 930 710 00 or +357 25 828 899. They can also request a call-back after filling in their name, phone number, email address, and preferred contact time.
Another great thing about the broker is that its customer support can be contacted at any time during working hours – 24 hours a day from Monday through Friday. Clients can also follow easyMarkets on social media or use various social channels to contact representatives of the firm. The broker supports several chat channels, including Viber, WhatsApp, and, of course, Facebook Messenger.
In addition, investors can send their queries at email@example.com – emails are typically replied within several hours. The site of the broker, as well as the support, is available in several languages, including English, German, Polish, Spanish, Chinese, and Arabic.
Compared to other Forex and CFD brokers, easyMarkets is a bit pricier option, offering higher spreads than most online brokers. However, it features a fast, user-friendly, intuitive proprietary platform, which is suitable for every trader, including newly registered clients who are new to the world of online trading. The broker is also fully licensed and regulated in multiple jurisdictions, which makes it a safe and trusted Forex partner.