easyMarkets Review

easyMarkets Review | Expert Review By A Forex Trader

Trade With Fixed Spreads From 0.7

  •  User Friendly
  •  Automated Trading
  •  TradingView
  •  dealCancellation
  •  Vanilla Options
  •  MT4 And MT5
dealCancellation, Freeze Rate & InsideViewer

easyMarkets Review

easyMarkets is long established and has evolved over the years. Currently it provides a wide range of platform and allows a wide range of trading styles and approaches, including fixed spreads Forex trading, automated trading and social trading.

easyMarkets provides Forex, Commodities, Metals, Indices, Cryptocurrencies, Shares and Vanilla Options CFDs and offers its user friendly easyMarkets Platform, MT4, MT5 and TradingView.

Briefly, what does easyMarkets do ?

easyMarkets offers fixed spread trading on all its platform, except MT5. Spreads can be lower for accounts types with a higher minimum deposit, but the lowest fixed spreads are on MT4 (0.7).

Traders who want to trade on easyMarkets' user friendly platform can get lower fixed spreads with higher minimum deposit, down to 0.8 pips for a $10,000 minimum deposit VIP account.

Traders who want to use online trading robots (to automate trading) can do this at easyMarkets, and use fixed spreads on MT4 or variable spreads on MT5 (down to 0.6) in all cases without a commission charge. Those who want to social trade (use information coming from other traders) can do this on TradingView.

Are hedging, scalping and EAs allowed ?

Scalping, hedging and EAs are allowed on MT4 and MT5. All EAs are allowed at easyMarkets.

Cryptocurrency CFD trading - Trade Cryptos without a wallet

easyMarkets offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Stellar, Cardano, Algorand, Solana, Uniswap, Polkadot, ChainLink, ZCash, OmiseGO, Polygon, Dash, Dogecoin, Monero, Chiliz and Avalanche CFD trading. The trader does not own the underlying cryptocurrency asset and thus no wallet is needed (as there is no need to store a cryptocurrency). Addtionally easyMarkets offers a Bitcoin denominated trading account, where the trader can deposit and withdraw from in Bitcoin, trading the full range of CFDs available.

Minimum deposit and account types

In brief, the minimum deposit is $25. The minimum trade size is micro lots, however the Easy Trader app (which has trades with a set time) has a minimum trade of $23. MT5 has a minimum deposit of $25. There are differences in account structure depending on the trader's region.

easyMarkets CySEC regulated offers a Standard account with a minimum deposit of $25 and a VIP account with a minimum deposit of $10,000.

easyMarkets ASIC regulated has a Standard account with a minimum deposit of AUD200, a Premium account with a minimum deposit of AUD3000+ and a VIP account with a minimum deposit of AUD10,000+. There is also a SuperVIP status available for those who are already VIPs.

easyMarkets FSAS regulated (Seychelles) offers a Standard account with a minimum deposit of $25, a Premium account with a minimum deposit of $2,000 and a VIP account with a minimum deposit of $10,000.

Account opening and funding

  • To sign up, the prospective trader simply gives their name, email address, country and phone number. Upon verification of the email, the trader can log into their new trading account. The demo account is available from the live platform.
  • Base account currencies are: USD, GBP, EUR, BTC, AUD, CAD, ZAR, SGD, SEK, JPY, CHF, CNY, CZK, HKD, MXN, NOK, NZD, PLN and TRY. Customer support languages are: English, German, Arabic, Greek, Russian, Chinese, Spanish, French, Polish and Hebrew.

Deposits can be made by a variety of methods, including Bank Transfer, Bitcoin, Credit/Debit Card, Skrill, Neteller and WebMoney. There is a dormant account fee of $25, charged annually.

How 'easy' it is to trade with easyMarkets ?

Trading itself is not easy, but in terms of the mechanics of signing up and using the easyMarkets Platform, this reviewer found this process relatively 'easy'. To sign up, some personal details are required. This takes the trader to the easyMarkets Platform. To deposit funds, it is necessary to fill in more details (such as trading experience). This creates a trading account in the chosen fiat currency.

If a Bitcoin denominated account is not available, deposits can still be made by Cryptocurrencies (Bitcoin, Ethereum, USDT (ERC-20), USDT (TRON), Litecoin and Bitcoin Cash). This process is straightforward, as it involves wallet to account transfer. The Crypto is converted to USD then converted to the account currency, if it is not USD. The trader may also deposit fiat by payment methods including Skrill, Neteller and Perfect Money.

The platform appears genuinely quite user friendly and for this reviewer did not require much time to work out how to place a trade, though it is always best to test a platform (and trading) on a demo account before live trading. The demo account is available from the platform and can be switched back and forth. There also a Platform Walkthrough, to give an overview of how it works.

Opening and closing a trade was straighforward, and there is a wide range of indicators available from the chart to help with entry and exit points, if the trader want to use technical analysis. Open a Demo Account - Demo Account

Platform trading conditions

There are free guaranteed stop-losses, there is negative balance protection and no commissions are charged. Additionally, the take profit rate is guaranteed and easyMarkets says that fixed spreads are guaranteed. There is no slippage on the easyMarkets Platform, but there can be on MetaTrader.

Deal Cancellation - Cancel Deals After They Are Made: T&Cs Apply

This is a tool available on the easyMarkets Platform. It allows the trader to cancel a trade within a one hour window and have any losses returned (in return for a fee), terms and conditions apply. Find out more about: Deal Cancellation.

Leverage

Maximum leverage is 30:1 for easyMarkets (CySEC regulated) and 500:1 for easyMarkets (Seychelles).

Online trading platforms - User friendly platform, MT4, MT5 and TradingView

easyMarkets provides a web platform (and app), MT4, MT5 and TradingView.

easyMarket's web platform provides a tool called Inside Viewer which gives a snapshot of trader sentiment, in terms of popularity, direction and deal structure (average price, stop-loss and take profit). EAs, scalping and hedging are available on MT4 and MT5. So scalpers and automated traders are welcome on this platform at easyMarkets.

The chart on the web platform has three price types, OHLC, Line and Candlestick and time frames from 1 minute to 1 week. There are 40+ technical indicators available and a news feed, which seems focused on the trader's needs, in that it covers in short but informative headlines, information which may have an effect on the market or be about the market. There is also a Financial Calendar and a Technical Analysis report on the platform.

easyTrade

easyTrade is a platform offered by easyMarkets which lets the trader set various parameters of a trade and then choose a direction Up or Down. Thus it is aimed at trading on a trend or volatility. easyTrade

Markets - Wide range of trading markets

easyMarkets offers 275+ markets on TradingView (which has the most markets).

Options - Trade Vanilla Options

One differentiating factor for easyMarkets with some other Forex and CFD brokers is options trading.

Choosing to trade an option takes the trader to a separate options trading screen. In this, the trader chooses a pair to trade, whether to Call (believe it will go up in price) or Put (believe it will go down in price), then sets the strike price as a percentage of its present price. That is to say, the trader sets the price at which they will buy or sell the underlying asset.

The trader can then set the time of the trade, from 1 day to 6 months and the contract size. The cost of the contract will be given and also a Sensitivity (which shows the various Greek factors for the trade) and Scenarios indicator (aiming to indicate profit potential for this trade). It is also possible to sell options and create strategies, but to do this, the trader needs to go 'pro'. This involves answering some question to show their knowledge of options. Find out more about: Options CFD trading

Regulation

Easy-Forex Trading Limited is regulated in Cyprus by the CySEC, License Number 079/07. In Australia easyMarkets Pty Ltd (formerly known as easy forex Pty Ltd) ABN 73 107 184 510 is regulated by the Australian Securities and Investments Commission (ASIC) with Australian Financial Service (AFS) License No. 246566. easyMarkets is regulated in the Seychelles by Financial Services Authority Seychelles (EF Worldwide Ltd – FSA, License Number SD056) and in the British Virgin Islands by the Financial Services Commission with License Number (EF Worldwide Ltd – License Number SIBA/L/20/1135).

Summary and grade

easyMarkets is a rebranding of Easy-Forex, a broker which has been in operation since 2001. It still offers services such as negative balance protection and free guaranteed stop-losses as well as providing a range of CFDs, covering Fores, Metals, Indices, Energy, Cryptocurrencies, Shares, Soft Commodities and Options. easyMarkets does not offer many Shares, hence the total number of markets offered is smaller than some other brokers.

Pluses and minuses

  • easyMarket offers a wide range and number of Forex products
  • easyMarkets does offer Share CFDs
  • easyMarkets provides Vanilla Options CFD trading
  • easyMarkets offers free guaranteed stop-losses
  • easyMarkets has an accessible minimum deposit of $25
  • easyMarkets provides a user friendly platform, MT4, MT5 and TradingView
  • easyMarkets offers a Bitcoin denominated trading account (in some regions)

Why easyMarkets ?

Traders who want to trade with fixed spreads can do so at this broker. It offers fixed spreads on its user friendly platform, MetaTrader 4 (MT4) and TradingView. easyMarkets provides a relatively wide range of markets to trade, including Stocks, Soft Commodities, Cryptocurrency and Options CFDs.

The web trader and its mobile apps offers a platform for traders who plan and execute their own trades. MT4 and MT5 also support this kind of trading, but additionally allows the use of Expert Advisors (EAs) which are online trading robots executing trades on behalf of the trader. easyMarkets allows the use of all EAs. By additionally offering TradingView, a popular third party platform with social trading, easyMarkets brings a wide range of platforms and ways to trade to the trader.