What does easyMarkets have to offer?
They have a strong reputation for transparency and trustworthiness and are even the official sponsor of the Spanish football club Real Betis, which is a testament to just how well-established this company is. Read this comprehensive review of easyMarkets to find out whether it is the right broker for you.
Why Trade Online with easyMarkets?
Given the scope and experience that easyMarkets has to offer, there is plenty that will appeal to traders of all stripes. Some of its main USPs include:
- Almost 20 years of experience offering brokerage services to clients around the world
- A strong reputation for transparency and trustworthiness among customers and industry pundits
- Negative balance protection and a guaranteed stop-loss to protect all customers
- One of the most extensive forex offerings on the market right now
Is easyMarkets safe?
easyMarkets is registered and based in Cyprus and is therefore regulated by the Cyprus Securities and Exchange Commission (CySEC), which stipulates strict transparency and security arrangements to protect consumers.
In addition to this, easyMarkets is compliant with the EU’s MiFID II Directive and their Anti-Money Laundering Directive. All easyMarkets customers are covered by the Investor Compensation Fund (ICF), which provides full coverage of up to €20,000 in the event that easyMarkets would go into default.
As of recently, easyMarkets is regulated by the Australian Securities and Investments Commission (ASIC), which also requires all adherents to follow strict security protocols. easyMarkets also deploys comprehensive encryption throughout its site to protect the data of users.
Trading Online with easyMarkets
easyMarkets started life as a forex trading platform under the name of easyForex. However, in 2016 it changed its name to easyMarkets and began to greatly expand its trading offerings. As a result, traders will find opportunities to trade and speculate on an immense number of assets, including commodities such as metals and gold. Read on to find out exactly what assets are available to traders on easyMarkets.
There are a total of 62 currency pairs available for real-time trading on easyMarkets. All of the most popular pairs are well-represented, as well as a number of more exotic pairs that might appeal to experienced or adventurous forex traders. These include:
Forex traders can also access extensive and regularly-updated forex news, calendars, live indices, and market commentary from easyMarkets’ in-house analysts.
It is worth noting that fans of cryptocurrency trading will not find what they’re looking for when it comes to easyMarkets. This platform does not offer crypto trading as actual, only as CFDs. Users cannot purchase cryptocurrencies and they can only speculate on cryptocurrency/fiat pairs. In addition, only three pairs of cryptocurrencies are actually represented in their offerings. These are:
Despite such limited offerings, there are plenty of resources that traders can access if they wish to track and invest in crypto pairing CFDs, such as market commentary and news updates.
easyMarkets offers extensive trading on CFDs. These include equity CFDs, cryptocurrency CFDs, and commodity CFDs. While their offerings are significant, they do not veer into more niche market areas and stick to the most popular types of CFDs only. These include:
Opening an easyMarkets Account
People in dozens of countries are eligible to open an account and begin trading forex, CFDs, and commodities with easyMarkets. However, residents of certain countries are prohibited from doing so. As of 2020, ineligible countries are:
- Equatorial Guinea
- North Korea
- South Sudan
- The United States
Different Types of easyMarkets Accounts
easyMarkets offers many different types of accounts for different types of traders, each with its own unique benefits. Here are the account types that you can sign up for at easyMarkets:
- Demo Account: A free-to-use account available to all traders that want to get a feel for the platform and learn the ropes of trading in real-time. A demo account offers €10,000 of dummy money to trade and invest with on real markets.
- Standard Account: A bare-bones account available to anybody who registers with easyMarkets and makes the minimum €100 deposit. Standard accounts have a fixed EUR/USD spread of 3 pips.
- Premium Account: Available to any user who deposits €1000 when opening an account. Offers an enhanced EUR/USD pip of 2.5.
- VIP Account: Only available to users that make an initial deposit of €2500. Additional features include a reduced spread of 1.8 pips on EUR/USD.
- Super VIP Account: Users must make an initial deposit of €50,000 or more to qualify for this account. Once accessed, the general spread on EUR/USD is as low as 1.2 pips. In addition, users can negotiate minimum transaction volumes to a figure that they find comfortable.
How to Open an Account with easyMarkets
Opening an account with easyMarkets is a relatively quick, simple, and straightforward process that requires little effort or documentation. To open your initial account, simply click on any of the banners on this page, which will take you directly to the site. Then, enter your email address and create a secure password.
Alternatively, you can also create an account by linking it to your Google or Facebook profile. Once you have done this, you will need to pass the verification process.
To do this, all you need to do is upload your personal ID and a document that proves your country of residence. Once you have done this, easyMarkets will verify your account in-line with its anti-money laundering compliance. This process usually takes less than 24 hours, after which time you can begin trading freely.
There are no deposit fees charged by easyMarkets. Whether you deposit £100 or £10,000, that money is not subject to any fees whatsoever. Similarly, there are no withdrawal fees charged by easyMarkets, which is something that many competitor platforms do not offer.
easyMarkets does not impose any fees on trading whatsoever. No commission is charged on trades and users do not have to pay any fees to access certain features on the platform. easyMarkets derives most of its money from its spreads, which are generally higher than the market average. In addition, easyMarkets makes a lot of its income from the losses of its traders.
easyMarkets does not charge any non-trading fees whatsoever, unlike many of its competitors. There are no fees for account inactivity, nor are there any kind of administration fees imposed on users.
easyMarkets Deposits & Withdrawals
There is a range of currencies available for trading and investing at easyMarkets, as well as a wide range of deposit and withdrawal methods.
easyMarkets allows traders to make deposits and withdrawals in 18 base currencies. These include:
- US Dollar
- Great British Pound
- Swiss Franc
- Australian Dollar
- Japanese Yen
- Canadian Dollar
These offerings are more extensive than the base currencies that are accepted by many competitor platforms.
Deposits at easyMarkets can be made via:
- Bank Wire
- American Express
- Local Bank Transfers
What is the minimum deposit at easyMarkets?
The minimum deposit amount is, unfortunately, on the higher end of the spectrum. All traders must make a minimum deposit of €100/$100/£100. This applies no matter what method or account you are signing up for.
Withdrawal Methods and Fees
Withdrawals can be made via:
- Bank Wire
- American Express
- Local Bank Transfers
easyMarkets has a strong reputation for customer support, with users reporting quick response times and helpful, professional staff. Support is available 7 days a week with easyMarkets, although hours vary depending on the method of contact and preferred language:
Method of contact & availability
- Live chat
- Social Media
Furthermore, easyMarkets offers customer support in English, German, Arabic, Greek, Russian, Chinese, Spanish, French, Polish, and Hebrew.
easyMarkets Broker Review – Conclusion
If you’re looking for a sleek, professional, and wide-ranging trading platform, then easyMarkets should be at the top of your list. The forex and CFD trading on offer is exceptional and there are few markets that you won’t be able to find. However, their cryptocurrency offerings are extremely limited and considerably below anything we have seen from brokers with a comparable history and reach.
Nonetheless, the resources available to traders, as well as the account perks on offer, are highly competitive. Spreads might not generally be the most compelling on the market, but that’s why their premium and VIP accounts are so alluring. Overall, easyMarkets is a safe, trustworthy platform that has something to offer beginner and veteran traders alike.