easyMarkets Review

easyMarkets Review | Expert Review By A Forex Trader

Forex, Commodities, Indices, Metals, Options & Cryptocurrencies

  • CySEC & ASIC regulated ✔
  • Cryptocurrency CFDs
  • Fixed Forex spreads from 1
  • Trader Friendly grade: A
  • Premium & Islamic accounts
  • Inside Viewer tool
  • Minimum deposit: $100
  • Deal cancellation: T&Cs
CFD Trading • 135+ Forex pairs • easyMarkets.

easyMarkets Review

EasyMarkets is a rebranding of established broker Easy-Forex, recognising that CFDs have enabled Forex brokers to offer more markets to trade. However easyMarkets maintains its strength in Forex, with a relatively large range and number of Forex products available. It also offers free guaranteed stop-losses and negative balance protection.

easyMarkets provides Forex, Commodities, Metals, Indices, Cryptocurrencies and Vanilla Options and offers a web platform and MT4 along with mobile apps for both these platforms. easyMarkets may be compared with other Forex brokers.

Briefly, what does easyMarkets do ?

easyMarkets offers fixed spread trading. Spreads can be lower, for accounts types with a higher minimum deposit, with the lowest on the Super VIP account (which has fixed EUR/USD spreads of 1 pip). easyMarkets offers both MT4 and a web trading platform (and apps). It has a range of markets, with a particularly wide offering of Forex pairs and products.

Are hedging, scalping and EAs allowed ?

Scalping, hedging and EAs are allowed on MT4.

Cryptocurrency CFD trading

easyMarkets offers Bitcoin (BTC/USD), Ethereum (ETH/USD) and Ripple (XRP/USD) 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).

Minimum deposit and account types

easyMarkets offers four account types, Standard, Premium, VIP and Super VIP. The Standard account has a minimum deposit of €/$100, the Premium account has a minimum deposit of €/$1000, the VIP has a minimum deposit of €/$2000 and the Super VIP has a minimum deposit of €/$10,000.

  • All three account types have customer support, a daily fundamental analysis email, a daily technical analysis email by Trading Central and for MT4 accounts, Trading Central Indicator. Premium additionally has SMS market notifications and a personal account manager. VIP and Super VIP additionally offer 24/5 phone and live chat trading.

Minimum transaction size

The minimum transaction size can vary depending on the account type and trading platform. For Standard it is 0.05 lots for the web/app platform and 0.01 lots for MT4. For Premium it is 0.5 lots for both platforms. For VIP it is 1 lot (but this is negotiable) and for MT4 it is either 1 lot or 0.01 lots. For Super VIP, is it negotiable.

Account opening and funding

easyMarkets can accept client from many countries and regions around the world, but not from some including the United States of America, Israel, Iran, Syria, Afghanistan, Myanmar, North Korea, Somalia, Iraq, Sudan, British Columbia, Ontario and Manitoba.

  • 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, 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, Credit/Debit Card, Skrill, Neteller and WebMoney. There is a dormant account fee of $25, charged annually.

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 web platform, but there can be on MT4.

Deal Cancellation

This is a tool available on the web/app 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.

Spreads and leverage

Spreads are fixed and Forex spreads are from 3 pips for EUR/USD for the Standard account, 2.5 pips for the Premium account, 1.8 pips for the VIP account and 1 pip for the Super VIP account

Spreads for Gold (XAU/USD) are from 0.50 on the Standard and Premium accounts, 0.45 on the VIP account and 0.35 on the Super VIP account. Spreads for US Crude Oil are from 0.07 on the Standard account, 0.06 on the Premium account, 0.05 on the VIP account and 0.35 on the Super VIP account.

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

Platforms

easyMarkets provides a web platform and MT4.

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) but this is not available on MT4. EAs, scalping and hedging are available on MT4. 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.

Markets

easyMarkets offers 300+ markets on its web platform, including 135+ Day Trade/ Spot FX along with FX Forwards, Metals, Vanilla Options, Commodities, Indices and Cryptocurrencies. Commodities available are Energy and Soft Commodities. The menu on the trading platform does not necessarily show all the markets available. To find all combinations for a given currency, the currency or other market can be put in the search box and a list will appear. MT4 has less markets available to trade, at 150+.

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 at easyMarkets

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.

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, Soft Commodities and Options.

easyMarkets does not offer Shares (all its products are traded as pair CFDs), hence the total number of markets offered is smaller than some other brokers, as these numbers are typically made up of Shares. However its offering of CFD markets is sizeable, especially its Forex offering in its numbers and range.

The depth and range of Forex products and its offering of Options, plus its use of free guaranteed stops helps give easyMarkets a Trader Friendly grade of A.

Pluses and minuses

  • easyMarket offers a wide range and number of Forex products
  • easyMarkets does not offer Share CFDs
  • easyMarkets provides Options trading
  • easyMarkets offers free guaranteed stop-losses
  • easyMarkets is regulated by the CySEC in Europe and the ASIC in Australia
  • Forex spreads at easyMarkets get more competitive with account types having a higher minimum deposit
  • easyMarkets has an accessible minimum deposit of $100
  • For a minimum deposit of €10,000 easyMarkets offers fixed Forex spreads from 1 pip
  • easyMarkets provides a custom web platform and MT4