easyMarkets Review 2024
Website: www.easymarkets.com
Min. Deposit: US$ 100
Leverage: 1:30 | 1:200
Trading Platforms: MT4, WebTrader, Mobile App
Regulation: ASIC, CySEC, FSC
Headquarters: Cyprus
Founded: 2001
Regulatory Licenses:
- Easy Forex Trading Ltd - authorized by CySEC (Cyprus) registration no. 079/07
- Easy Markets Pty Ltd - authorized by ASIC (Australia) registration no. 246566
- EF Worldwide Ltd - authorized by FSC (British Virgin Islands) registration no. SIBA/L/20/1135
Updated on January 9, 2024
Quick Links
Based in Cyprus, easyMarkets is a Forex trading company and broker that commenced operations in 2001, distinguishing itself as one of the pioneers in offering online trading through a user-friendly platform developed by the company. Our experts have determined that easyMarkets facilitates easy account opening, provides a broad spectrum of instruments, and offers excellent educational and research tools, as well as a selection of platforms. Fees and spreads are generally consistent with the industry average, and the minimum deposit requirement is also standard for the industry. Overall, our interaction with easyMarkets has been positive.
For drawbacks, there are few in our view. The broker does not offer 24/7 support and the range of instruments is confined to Forex and CFDs. Additionally, the broker's terms may vary depending on the entity.
Pros
Easy account opening process
Broad range of instruments
Good educational and research tools
Platform selection is varied
Cons
No 24/7 customer support
Limited to Forex and CFDs in terms of instruments
Is easyMarkets Safe or a Scam? ▲
Yes, easyMarkets is considered a secure broker due to its adherence to high regulatory standards. It operates through several regulated entities in established jurisdictions, confirming that it is not a scam.
easyMarkets Review Summary in 12 Points
Headquarters: Cyprus
Regulation: ASIC, CySEC, FSC
Instruments: Forex instruments, global indices, energies, metals, and cryptocurrencies including Bitcoin, Ripple, and Ethereum.
Platforms: MT4, WebTrader, Mobile App
EUR/USD Spread: 1 pip
Demo Account: Provided
Minimum deposit: $100
Base currencies: USD, EUR
Education: Comprehensive education and research included
Customer Support: Available 24/5
According to our expert analysis, we confidently affirm that the broker is reliable and stringently regulated by top-tier authorities, ensuring trading safety and transaction security, as well as providing negative balance protection in case of insolvency. The extensive range of educational resources makes the broker particularly appealing for novices. The primary disadvantages include a limited market range and the lack of 24/7 support. easyMarkets achieves an Overall Ranking of 8.3 out of 5.0, based on our assessments and comparison with over 1000 brokers.
The trading name of the company, Easy Forex Trading Limited, is a financial services firm established in Cyprus, with a registration number HE203997, regulated by CySEC in Europe. This aligns with the MiFID rules, enabling the company to legally offer services to clients in the EEA zone and beyond. Although easyMarkets also operates from the Marshall Islands—a jurisdiction that does not regulate financial firms—it is additionally regulated by ASIC in the Asian Pacific Region, qualifying as an authorized Australian Forex Broker.
easyMarkets is committed to offering a transparent, trustworthy, and regulated financial service. The regulatory obligations necessitate the highest level of security in various aspects, including the safety of clients' funds to ensure integrity and safe performance. This is achieved through client money segregation, participation in a compensation scheme in case of company insolvency, and adherence to strict operational standards that are continuously audited, albeit with slight variations according to its obligations.
Trading with various instruments allows the use of the powerful tool known as leverage, which can amplify potential gains by increasing the initial account balance. However, it's crucial to understand how to use leverage wisely, as improper application can greatly enhance risks. easyMarkets provides different leverage levels, which vary based on the traded instrument or the chosen platform and are also influenced by regulatory standards. For traders regulated by the Australian ASIC, the leverage is capped at 1:30. In contrast, the European branch, under CySEC's regulation due to ESMA restrictions, offers leverage of only 1:30 for Forex instruments and 1:10 for Commodities. Clients trading under a global entity can access higher leverage, with up to 1:400 for major currencies and 1:50 for cryptocurrencies.
Our analysis reveals that easyMarkets offers a variety of trading accounts, each designed with nearly two decades of experience to meet individual trader needs. However, it's advisable to confirm the specific conditions applicable to you with customer service, as these may differ based on the trading entity.
Delving further into easyMarkets' offerings, the Market Explorer technology provides deep market insights, displaying real-time rates for over 200 instruments available for trading. The platform's democratic approach also includes features like negative balance protection, which benefits all types of traders. Continuous innovation at easyMarkets has led to the introduction of valuable trading tools and conditions, such as free guaranteed stop loss, inside viewer, Freeze Rate, and the highly advanced deal cancellation tool, all contributing to trader safety, especially in volatile markets. The easyMarkets Markets Range Score is 7.9 out of 10, indicating a broad selection of trading instruments, albeit limited to FX and CFDs. The available range may also vary by jurisdiction.
Trading costs are incorporated into a fixed spread with zero commissions, varying by the account type. All accounts feature daily emails with technical and fundamental analysis, alongside guarantees on stop loss, negative balance protection, and additional trading tools. easyMarkets' fees are considered low, with an overall rating of 8.7 out of 5 based on our comprehensive testing against 1000 other brokers. Although fees may differ by account type and jurisdiction, our overall impression is positive. Detailed findings on fees and pricing are summarized in the table below.
Based on thorough research, easyMarkets offers highly competitive pricing with its VIP account. This account, which demands a deposit of $2,500 ($100 for residents in the EU and UK), provides fixed spreads of 0.77 pips on EUR/USD whether you choose to trade using MT4 or their web platform. In a comparison with over 1000 brokers, easyMarkets spreads are considered among the most attractive, earning a low score of 4.5 out of 5 in our rankings. The broker is noted for its low spreads, with 0.77 pips for both accounts being highlighted, among other appealing spread options.
Additionally, it's important to consider the rollover or overnight fee at easyMarkets. This cost is applied to positions held for more than a day and varies for each instrument, manifesting either as a fee or a refund, directly checkable from the platform.
Deposits and Withdrawals
Funding an account at easyMarkets is a straightforward process accessible through the client area. We have rated easyMarkets' funding methods as Excellent, giving it a score of 4.0 out of 5. The broker requires a minimum deposit of $100, which is relatively average within the industry, and charges little to no fees for various currency-based accounts.
Pros
Multiple payment options, including bank transfers, credit and debit cards, and a variety of eWallets like Sofort, giropay, iDeal, WebMoney, BPAY, Neteller, Skrill, and fasapay.
Cons
Higher minimum deposit requirements for VIP and premium account conditions.
Withdrawals at easyMarkets are processed without any fees, covering all payment methods. However, it's advisable to check with your payment provider regarding potential fees on their end.
Easy Markets Trading Platforms ▲
The easyMarkets platform, an award-winning web-based solution, stands out for its intuitive design that doesn't require installation and is tailored to the trader's needs with a suite of comprehensive tools. The broker also offers an intuitive app for iOS and Android devices, enabling trading access anytime, anywhere. Ranking Excellent with a score of 4.2 out of 5, easyMarkets provides one of the best platform offerings in the industry, including MT4 and MT5, alongside its sophisticated proprietary platform.
easyMarkets Research and Education ▲
For those preferring MetaTrader4, easyMarkets welcomes its use alongside excellent trading conditions and customer service. The broker enhances trading experiences with tools like Trading Central news and analysis and unique features such as easyTrade, which allows traders to customize orders with a focus on risk management and potential payouts. The availability of trading vanilla options offers strategies against volatility and long-term trading.
The broker's educational resources are vast and suitable for traders at any level, earning a score of 4.0 out of 5. easyMarkets provides courses, videos, eBooks, and glossaries, complemented by 37 awards for service excellence, trust, and technology.
easyMarkets Review Conclusion ▲
Our comprehensive review of easyMarkets reveals a brokerage firm with a long history of providing fair and transparent trading conditions. As a market-making broker, easyMarkets prides itself on offering stable trading conditions even in volatile markets. The variety of account types and advanced software features are significant benefits for all easyMarkets clients. Despite a limited range of instruments and regulations, the broker's tight spreads and low trading costs attract both beginner and advanced traders.
Based on our research and expert opinion, easyMarkets is highly recommended for:
Beginning Traders
Professional Traders
Algorithmic or API Traders
Traders using EAs
Copy Trading enthusiasts
Scalping / Hedging Strategies
MT4 or MT5 platform users
Currency and CFD Trading
Traders employing a variety of strategies
In conclusion, easyMarkets is a trustworthy broker that continues to innovate and expand its offerings, making it a commendable choice for traders seeking reliable and advantageous trading conditions.
