EasyMarkets Review

easyMarkets Review

easyMarkets is easy to use and offers several unique features attractive to beginners through its proprietary trading platform. However, easyMarkets is pricey, offers only a small selection of tradeable products, and lacks market research.

• Founded in 2001, easyMarkets is regulated in one tier-1 jurisdiction and one tier-2 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading.
• easyMarkets is best known for its proprietary web-based platform that is easy to use and offers two beginner-friendly features: dealCancellation and Freeze Rate. Low-points in the easyMarkets lineup include a lack of extensive forex market research tools, a limited offering of just 256 tradeable instruments, and a mediocre mobile app.
• Despite offering free guaranteed stop-loss orders (GSLO), we do not recommend the easyMarkets MetaTrader 4 (MT4) offering. With MT4, alongside uncompetitive pricing, easyMarkets excludes market headlines in desktop and does not offer the browser-based version.

Overall Summary

Is easyMarkets Safe?

easyMarkets is considered average-risk, with an overall Trust Score of 81 out of 99. easyMarkets is not publicly traded and does not operate a bank. easyMarkets is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). easyMarkets is authorised by the following tier-1 regulator: Australian Securities & Investment Commission (ASIC). Learn more about Trust Score.

Regulations Comparison

Offering of Investments

The following table summarizes the different investment products available to easyMarkets clients.

Commissions & Fees

Account types: easyMarkets offers three account types for which trading costs (spreads + any commissions) vary, and spreads are fixed (not variable) across web platform, MetaTrader4 (MT4), and a VIP account.

Minimum & Spreads: The most competitive pricing easyMarkets offers is on its VIP account, which requires a $2,500 deposit, as well as its web platform, which requires a $250 deposit. Both accounts offer fixed spreads of 0.9 pips on the EUR/USD on the easyMarkets platform, compared to 3 pips when using the MT4 account.

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Platforms & Tools

easyMarkets offers two platforms, its own proprietary HTML5 web-based platform and MetaTrader 4 (MT4).

Beyond a watch list (favorites list), news, charts, sentiment indicator, and a few other tools, the easyMarkets trading platform is otherwise light. The clean and simplicity focused platform design does well in keeping users focused on trading, although it will not be enough to satisfy more demanding traders.

Trading tools: Two unique tools offered through the easyMarkets platform include dealCancellation and Freeze Rate. For a small fee, the dealCancellation feature gives you a specific amount of time to have the option to undo your trade and reclaim your losses. Meanwhile, the Freeze Rate button allows you to “freeze” a quote for three seconds (also for a small fee).

Both tools appear attractive, but clearly, easyMarkets advertises them for a reason, which means that overall, they must be profitable for easyMarkets. Also, in support of less experienced traders, easyMarkets platform offer guaranteed stop-loss orders (GSLO) for free, compared to most brokers who charge a small premium.

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Research

easyMarkets integrates several research resources into its trading platforms, including a sentiment indicator, economic news calendar, streaming news headlines from FxWirePro, as well as trading signals from Trading Central for live account holders.

Blog: I was disappointed to see the company’s blog would not load as the site forex.info would not open securely. When I attempted to open the URL insecurely with HTTP, much of the content was outdated and would not load when clicked.

Overall, despite a broad selection of features, easyMarkets’ research offering is just a touch above the bare minimum industry standard.

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Mobile Trading

easyMarkets offers its proprietary mobile app, as well as the MetaTrader 4 (MT4) mobile app. Looking at the easyMarkets mobile app, it offers a clean design that mostly mirrors its web-based counterpart, syncing watch lists included.

Charting is powered by Trading View in the mobile app, with the same 81 indicators that the web version of the platform has. Overall, I found it to be simple and basic yet falls behind the best mobile trading apps in our review, in terms of depth of features and tools.

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Customer Service

For our 2020 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.

Results

• Average Connection Time: th (43 brokers)

Final Thoughts

With 256 symbols to trade, including over-the-counter FX options and forwards on 28 pairs, easyMarkets offers a light multi-asset brokerage solution. Tradeable assets aside, easyMarkets does provide its proprietary trading platform, alongside MT4, which helps it stand out from other MT4-only brokers. Also, easyMarkets finished Best in Class for Beginners in 2020, thanks to its user-friendly platform interface.

With a three-pip fixed spread on the EUR/USD pair, the MetaTrader4 account is expensive and would not be my choice at easyMarkets. That said, even with the lower costs provided through the broker’s flagship web platform and VIP accounts, easyMarkets struggles to compete with the best forex brokers in our annual review.

About easyMarkets

easyMarkets (formerly easyForex) was founded in 2001 and is an early pioneer in offering retail forex trading. The broker obtained regulatory status with the Australian Securities and Exchange Commission (ASIC) in 2005 under Easy Markets Pty Ltd, and in 2007 with the Cyprus Securities and Exchange Commission (CySEC) under Easy Forex Trading Ltd.

easyMarkets Trading Features

easyMarkets Research Features

easyMarkets Mobile App Features

2020 Review Methodology

For our 2020 Forex Broker Review we assessed, rated, and ranked 30 international forex brokers over a five month time period. Each broker was graded on 105 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex Risk Disclaimer

“There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses.” Learn more.

EasyMarkets.com Review Visit site

July 2020: Reviews for Easy-Forex merged into EasyMarkets review page.

About EasyMarkets.com

EasyMarkets is a forex broker. Easy Markets offers the EasyMarkets platform and MetaTrader 4 forex trading top platform. EasyMarkets.com offers over 60 forex currency pairs, cfds, commodities, shares, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

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EasyMarkets.com profile provided by easyMarkets, Mar 15, 2020

easyMarkets is an award winning global broker with full access to 300+ financial markets on our innovative and easy trading platform.

Company Overview

With over a decade of trading expertise and 100,000 fulfilled clients in 160 countries worldwide, easyMarkets will tick all your boxes whether you are a new or experienced trader, affiliate or introducing broker. Trade 300+ markets including currencies, commodities, metals, vanilla options and indices from one place without the jargon, complicated offers and confusing terms! Welcome to the exciting world of trading. Welcome to easyMarkets.

• 300+ Tradable Instruments
• Award Winning Platforms
• Low Fixed Spreads
• Global Presence
• 24/5 Dedicated Support
• Established 2003
• Exciting Promotions
• Client Fund Safety
• FREE Training & Support

Our group of companies through its subsidiaries is licensed by the Cyprus Securities & Exchange Commission (Easy Forex Trading Ltd-CySEC, License Number 079/07), which has been passported in the European Union through the MiFID Directive and in Australia by ASIC (Easy Forex Pty Ltd- AFS license No. 246566).

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Consumer Reviews

Service use: Live

Length of use: 6-12 Months

I joined easymarkets earlier in the year. If I could give a minus star rating I would

I’m a 20 year trader veteran.

The login process is woeful and takes so long.

Charts are woeful and impossible to easily read and it is even more impossible to create your favourite templates.

I only trade one particular product so I know it well – will the chart come up when I login? – you have got to be joking. It goes all over the place.

If you are trying to do a quick trade forget it.

In one instance I documented – it took me around 40 minutes to even get my chart and order up and running and even then I had to press and press and press every button to be able to get it to set to the number of contracts I wanted to trade.

Then they changed my refund method which cost me heaps. I closed my account today and gave specific instructions as to where the refund should be made and that if that was not going to be followed to notify me immediately. Did they do that? NO of course not. Failure to comply with my specific requirements has cost me a bunch of money.

Would I have given a negative review in the ordinary course? NO not really but this was the dizzy limit with Easymarkets.

Don’t even contemplate opening an account with them

The charts are all over the place and unreadable. Templates are so difficult to construct and even if you can when you go back to login they won’t even open to what you closed – you have to reconstruct. That is even if it opens with your original chart. Another complete waste of time.

They offer this 60 minute deal cancellation but it is a con as the fee will cost you more than the loss in most instances.

They set automatic stop loss positions which many may regard as fantastic but you have to manually go in and alter them otherwise you will be stopped out far too quickly before you even know it.

So many times I tried to close a position and I got an error message which cost me money.

On the product I trade their spreads are around 4 points wider than the provider I have changed to. That makes a huge difference to the risk/reward ratio.

They don’t give a rats about you unless you lose money.

They told me that when they told me they were restricting my account deposits.

There are plenty of other providers out there. Look for one that has a quick execution process with an easily readable chart on the screen so you at least have a chance of being ahead of the game.

I lost so much time and money with easymarkets having to migrate from one screen to another so I could get an idea of the real picture. Their prices were so out of kilter with the real market confusion reigned supreme.

as is ease of login and ability to ease ofinute

Feedback is very important to us as it helps us improve our services and enhance the trading experience of our clients.

It is unfortunate that you feel this way since throughout your trading activity with us we supported you and provided you with any assistance required.

On our platform, we provide fixed spreads which never change regardless the market volatility and you always know the spread you are paying before opening a deal. Likewise, the guaranteed stop loss that we offer on our web platform helps you control your risk on every trade so you never lose more capital than willing to risk.

In regards to your withdrawal request, as previously mentioned to you, we are a Regulated Broker and we are obliged to follow compliant deposit and withdraw procedures in accordance with AML and CTF Regulations. As per our Deposit and Withdrawal policies, all withdrawals are sent back to the original deposit method and only withdrawals that are over the total deposit amounts are sent to bank accounts via bank transfer. Please consult our Deposit and Withdraw policies on our website https://www.easymarkets.com/au/about/deposit-withdrawal/

Should you require any further assistance, we remain at your disposal.

Easymarkets was my first foray into forex and trading in general. Unfortunately, today I received a call from them telling me that they are no longer able to serve my area due to local regulatory changes. So, since I can no longer trade with them, I decided to share my experience.

I believe they are attractive for the beginner who wants to feel safe and trade in a simple environment that minimizes uncertainty. Their online platform is very intuitive compared to Metatrader, and frankly, Metaquotes could learn a thing or two from it. It is in no way suited for the intermediate to advanced trader, however. Stops are fixed at seemingly arbitrary intervals, which makes it impossible to precisely adapt risk to market structure or volatility. I suggest that beginners who are serious about trading not even bother with it, skip the online platform, and learn to use their MT4 platform straight away on a demo account.

As a market maker, they are able to offer guaranteed stop losses and negative balance protection. This gives you significant peace of mind. They also offer fixed spreads, which are nice if you don’t like the added uncertainty of spreads spiking during times of volatility or low liquidity. However, these perks come at a cost. Their spreads on anything but EURUSD and USDJPY, especially those on crosspairs, are steep. They make trading moves on anything below the 4hr chart difficult. Forget about scalping. My trading style is swing trading on the daily chart, which is definitely doable with these spreads – but then you run into their swap rates. Even pairs where taking a long (or short) would result in you being paid quite decently on the swap by another broker, you are almost always paying Easymarkets. Their swap rates are the highest I’ve seen offered anywhere. It is therefore difficult to recommend them on the basis of their trading environment, unless minimizing uncertainty and having a safety net are your main priorities.

Their customer service is top notch. They are always available through Facebook messenger, reply quickly, and earnestly try to answer your questions. I’ve spoken to them on many occasions and they helped me every time. My account manager was also great, very kind and professional, and promptly resolved issues when they arose. In this sense, this brokerage one of the best, and that’s another reason I might recommend it to a beginner.

Overall, I had a good experience with Easymarkets. They helped me significantly in starting my journey as a forex trader. As a newbie you will most likely lose money with them, so start small and use it to gain experience in a relatively safe environment. It is good for what it is. Though once you find your footing and are confident enough to deal with the uncertainties of trading, there are places to go that offer much cheaper trading environments.

easyMarkets Обзор 2020

Регулируется: ASIC, CySEC

Год основания : 2001

Главные офисы : Ajeltake Road, Trust Company Complex, MH 96960, Ajeltake Island, Majuro