easyMarkets broker review: is it a good choice?
easyMarkets is an old forex broker that works for almost two decades. The idea of the company was to make trading accessible for everyone for only $25 as the initial deposit. Just like its name states, the company provides and easy access to the trading markets from any place. Do you think that you can trust this broker? Read our easyMarkets review to find out!
About easyMarkets
easyMarkets began working in 2001 as a brokerage service called Easy-forex. A bit later, In 2016, the company rebranded and changed its name to easyMarkets. The brokerage service has a main office is in Majuro, the Marshall Islands. It also has many offices in other countries to provide better local service. One more point is that the company is currently a part of “Blue Capital Markets”. An interesting fact is that the company is the official sponsor of Real Betis Balompié. Finally, easyMarkets is regulated by two authorities: ASIC and CySEC in Australia and Cyprus.
The main idea of the company are to be honest in everything. Therefore, the broker tries to provide a transparent service where the users can see all the funds movements. It has many trading instruments, a low initial deposit sum, and low trading fees.
What can you trade with easyMarkets?
There are many assets to work with here. Overall, more than 200 options are available. Here is what is offered:
- 62 forex pairs
- 199 CFDs
- Possibility to trade cryptocurrencies as CFDs
- Possibility to copy-trade
In addition, easyMarkets also lets traders work with metals, commodities, indices, actual cryptocurrencies, and shares. This makes it a competitive choice among many other brokers because not everyone offers so many assets to work with.
Fees at easyMarkets
The major part of earnings made by easyMarkets come from the losses made by its clients because it is a market maker. There a different charges and they depend a lot of the type of account you use. There are three of them. The best trading conditions are provided by the VIP account and web platform. For instance, the most popular currency pair EUR/USD has a fixed spread at 0.9 pips. The broker does not take fees per order, only the spreads.
If you are a active leverage user, you must know that the limits depend on your platform. For instance, using the easyMarkets platform provides a leverage limitation up to 200:1 and if it is the MT4 platform, you can use 400:1.
Deposit and withdrawal methods at easyMarkets
To open an account, you must deposit at least 100 Euro if you are within Europe and 200 USD if you are outside the Eurozone. The limit is $10,000 per payment.
There is no difference between the payment options when you top-up your account or withdraw your funds. You can use:
- Bank cards
- Skrill
- EFT
If you use an e-wallet, there are no limitations to your withdrawal. However, bank accounts require that you withdraw at least 50 USD in order to process the request.
Instruments
It is hard to give an opinion on the instruments provided by easyMarkets. In short, there are not enough of them. If we have a deeper look, then we can name the main sources of information from this broker.
At easyMarkets, traders are provided the following: daily market commentaries from experts, forex news, several technical analysis tools, social sentiment analysis, and an economic calendar. However, unlike other brokers, easyMarkets has no webinars, the autochartist tool, Delkos Research tools, etc.
Trading platforms
Only two platforms operate at this brokerage service. These two are the HTML-5 web platform created by the broker and MT4. The company’s self-developed platform has some unique features. These are Deal Cancellation and Freeze Rate.
For instance, the Deal Cancellation tool gives you the possibility to undo your trade for some time. The limit is 6 hours. This reclaims all losses and returns the money back to your account. However, you must pay a small fee for using it.
The Freeze Rate lets traders stop the quotes changes for up to three seconds. This might be a very good tool in highly volatile markets.
Trading in mobile with easyMarkets
It is also possible to use a mobile application that can be used on any mobile device. In addition, the broker lets traders use the MT4 app too. The easyMarkets trading software has a user-friendly intuitive design which includes almost all the tools from the full version.
In addition, there is a possibility to use charts and analyze the markets. For instance, the software includes all 81 indicators that are available in the desktop version. It is simple yet efficient.
Customer support at easyMarkets
The customer support at easyMarkets work quite efficiently. Contacting a support agent was not a problem. The answers given by him were very professional. You can contact an agent via email, Viber, Whatsapp, Facebook Messenger, and a live chat on the website.
User opinions on easyMarkets
It is possible to find many different customer reviews about easyMarkets on the web. The best part is that around 90% of all the opinions are positive. We have gathered several examples to show our readers what people around the world think of easyMarkets.
Here is an opinion from a trader from India. She mentions that she works with the broker because of the usability and design of the platform, great customer support, and an attractive affiliate program. The user says that the company is professional and can be trusted.
Another user, CCBB says that his experience with easyMarkets was very positive. The main reason he chose this broker was the unusual trading platform with various features and enhanced simplicity. CCBB mentions that every trader must try it out.
To sum up
Overall, easyMarkets looks like a legit broker. It is not a scam because it is regulated by trustworthy authorities like ASIC and has a ton of positive user reviews from various sources. The most important part is that the company provides low fees for high-quality service, has a unique trading platform, and does everything to assist its traders if any issues occur.
What about your experience with this company? Let us know in the comments below!