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The inspirational story behind this broker is enough to motivate many, but is it enough to retain? Read the review to find out.
As part of Blue Capital Trading Limited, Easy Forex Trading Limited is the holding company of easyMarkets. There are two companies under the easyMarkets name.
The Cypriot watchdog CySEC regulates easymarkets.com/eu, and as such is authorized to carry all necessary investigations by working under the law. All traders under CySEC are eligible for a compensation of up to €20 000, as issued by the Investors Compensation Fund, should the broker become indebted. The leverage cannot go any further than 1:30 due to ESMA law. It’s pivotal to know that easymarkets.com/eu offers exclusively a VIP account with an average spread of 1.0 pip for EUR/USD. The spread alters between trading platforms which might be interpreted as two different account types.
Easymarkets.com.au holds a license by Australia’s ASIC. The aim of this establishment is to promote a safe and secure environment for traders. Unlike CySEC, ASIC does not arrange for a reimbursement fund. The levergae here can go above 1:30, since this domain is outside the jurisdiction of ESMA; the website has not indicated their maximum leverage. Easymarkets.com.au indicates no leverage maximum mark, neither does it indicate a regular spread. For this we may assume that the spread is 1.0 pip for EUR/USD (as in easymarkets.com/eu).
EasyMarkets offers a good portfolio of tradable assets: currency pairs, cryptocurrencies, metals, commodities, indices.
The broker is available in 5 languages: English, Polish, Chinese, Spanish and Arabic.
EASY MARKETS LOGIN
MT4 is omnipresent in the world of Forex. The real surprise here is the easyMarkets web platform.
We can distinguish some considerable differences between these two platforms, making them, in essence, two different account types, since the broker’s only available account is a VIP one.
EASY MARKETS WEB PLATFORM
This platform is very user friendly and is an actual breath of fresh air. Available only as a browser terminal, easyMarkets web platform comes with fixed spreads, a great interface, a customizable chart, and many features that will satisfy both rookie and pro traders.
With a fixed spread of 1 pip, and a leverage of 1:30 max (in the UK and EU), this terminal burdens no one with commissions. The maximum leverage outside of ESMA territory has not been indicated.
The platform comes with a bunch of unique components. Like the Freeze Rate which allows you to place trades on a market that you have stopped from fluctuating. The one-of-a-kind dealCancellation permits traders to undo trades and reclaim losses! Alongside these are other similar game changing tools.
EasyMarkets web platform is also available as a mobile app for iOS and Android devices, which is just as impressive.
It’s no surprise that MT4 is here. It’s effective as ever, with EAs, analytical tools, advanced charts and one click trading that allows for trades to be executed with a single mouse click. These are just the icing on the cake. Exploring MT4 will foster many more helpful functions.
MT4 spreads are fixed at 1.8 pips for EUR/USD, and leverages within the UK and EU are limited to 1:30. Easymarkets.com.au is unclear on whether their leverage is higher or stays the same.
There are no commissions to speak of.
Give MT4 a go as a standalone desktop software, or install it on your smartphone (Apple or Android) and trade on the go.
EASYMARKETS MINIMUM DEPOSIT
The minimum deposit for all is $100.
Funding procedures can be done using one of many options: VISA, MasterCard, Maestro, American Express, JCB, Sofort, GiroPay, iDeal, Local Bank Transfer, WebMoney, Bpay, Neteller, Skrill, fasapay, Bank/Wire Transfer, UnionPay.
Alongside these methods is an assortment of base currencies: USD, EUR, AUD, CAD, JPY, CNY, CHF, CAK, GBP, MXN, NZD, PLN, SEK, SGD, TRY, ZAR.
All credit card, iDEAL, Neteller and Skrill deposits are instantly processed. Sofort and GiroPay extends that time by 2 hours. FasaPay, BPAY, WebMoney and Union Pay processes funds within a working day. Bank Transfer, as always, can process your money for 3-5 days.
Deposits are free of any charges.
EASYMARKETS WITHDRAWAL TIME AND FEES
CySEC and ASIC reassure all those under its gaze that no issues will arise from the withdrawal of funds.
The deposits will go back to users the same way they came – through the original funding methods – while any money surpassing their initial deposit will be transferred to them via Wire Transfer. This implies that all deposit methods can be used for withdrawing.
Processing times are relatively fast when contrasted to other brokers. It takes up to 24 hours EasyMarkets to process any withdrawal, however it may take up to 10 days for the money to reach your account.
There is a minimum withdrawal amount of $50 for Bank Transfers.
The only fees attached to withdrawals are the ones charged by the payment systems.
Having two very authoritative licenses helps easyMarkets with its trust and security score. Not to mention that traders under CySEC are covered by a compensation fund, allowing them for a more composed trading.
All in all, easyMarkets is sound, and does not do anything out of the ordinary. The Easy Markets Web Platform comes close, though. Its user friendly accessibility offers some fresh new ways to interact with the market, and in an industry that is mostly dominated by MT4s, this is surely a change of pace.