easyMarkets Broker Review


Minimum Deposit
$100
Regulators
ASIC, CySEC
EURUSD Spread
from 1.8 pips
US Traders
No
Platforms
Founded
2001

easyMarkets does not accept clients from United States of America, Israel, Iran, Syria, Afghanistan, Myanmar, North Korea, Somalia, Iraq, Sudan, British Columbia, Ontario and Manitoba.

easyMarkets Corporate History

easyMarkets has been a pioneer in helping get the retail forex trading business going, having been in operation since 2001 in more than 160 countries. easyMarkets was created from the shared vision of a team of bankers who combined their years of professional foreign exchange and international banking experience to help bring forex to the retail market.

The broking company has its forex business headquartered in UK, but maintains offices around the globe in major money centers like Poland, Australia and Shanghai.

Furthermore, easyMarkets holds licenses in Australia and the European Union, so it is regulated by two major financial authorities.

Broker Features

  • Join for free without obligation to deposit or trade.
  • Stop orders executed without slippage.
  • Single-click trading.
  • Accounts in 12 base currencies.
  • Trade 130 currency pairs plus gold, silver and oil.
  • Published standard dealing spreads (subject to change in fast markets)
  • Inside Viewer Tool gives access to statistics about easyMarkets client positioning and dealing.
  • Trade Simulator allows traders to try trades without risk.
  • SMS alerts free to some accounts for rates and some order executions.
  • Daily market news
  • Reuters continuous news feed
  • Table of interest rates.
  • Full use of funds for leverage.
  • Dealing room access for some accounts.
  • Website translated into 4 languages.
  • Sharia accounts for Muslim clients with no roll fee.
  • Orthodox Jewish account transaction permit.
  • Rolls done at historical rate.
  • Order types include:
    • Market orders
    • Limit orders
    • Entry stop and entry limit orders
    • Stop orders
    • Trailing stop orders.

Trader Accounts

Standard Account

  • For beginning traders, this account offers one-on-one training, chat and full use of the dealing platform.
  • $100 minimum initial deposit
  • $5,000 minimum deal size
  • $25 minimum margin to risk

V.I.P Account

  • Also offers market updates and call levels by dealers, and custom technical analysis reports.
  • $2,500 minimum initial deposit
  • $100,000 minimum deal size
  • $500 minimum margin to risk

Demo Account

  • Free of charge.
  • Practice trading with up to $50,000 of virtual currency

Leverage

Varies from 50:1 to 400:1, depending on account type and location.

Transactions

Trading Hours

Currencies – 6am Sydney time to 5pm NY time.

Gold and Silver – 1:00-18:00 GMT

Order Types

Market orders
Limit orders
Entry stop and entry limit orders
Stop orders
Trailing stop orders.

Deposits

You can fund your trading account at easyMarkets in up to 12 currencies.
Make deposits with:
Credit card transfers: Amex, MC, Visa
Bank transfer, Skrill, Neteller and Web Money

Withdrawals

Withdrawal options include sending funds to credit card account.
No commissions, fees or spreads when withdrawing to a credit card.

Trading Platform

Traders looking for a basic online trading platform will be thrilled with the easyMarkets interface. More sophisticated traders might appreciate its API feature.

easyMarkets Online Trading Platform

Fully online application, so no download necessary.
Straightforward to use.
Customizable interface.
24/7 access.
Charting facility.
Only downtime is on Sunday when trading is inactive.
Start trading fast.
Freeze displayed rate for a few seconds before you confirm a trade.
Secure, Java-based application.

easyMarkets API for Automated Trading Support

Provides a programming option for those who wish to automate their trading systems. Its services, which are free to clients, include:

Streaming price feed for forex rates.
Trading service for deal execution, order entry and position review.
Market information.

Customer Support

easyMarkets has an extensive online FAQ, plus access to support staff via Live Chat and e-mail throughout the trading week. Offers customer support in ten languages.

Dealing Desk

Available to clients with a VIP account.

Educational

In addition to a video guide section, easyMarkets aims to make forex accessible to beginners in a simple and easy-to-understand format. The broker provides informational written material about forex trading and technical analysis, and available items currently include:

Articles about forex
Downloadable e-book guide to forex
Glossary

Technical Analysis

easyMarkets’ trading platform and members-only website provides advanced charting capabilities for clients.

Market News and Data

Economic calendar
Interest rates table
Matrix of currency mid-rates
Live news feeds (including Reuters News)
Daily outlook reports with support and resistance levels.
Daily, special and live news video reports.

Safety

Regulatory Compliance and Auditing

easyMarkets is licensed to provide forex-related financial services in Australia where it operates under AFS number 246566 and in the E.U. under CySec 079/07. As a result of being registered in these two jurisdictions, easyMarkets complies with their standards and is subject to strict regulatory and financial reporting requirements.

Auditing

easyMarkets’ internal auditor is HLB Afxentiou and Partners, a member firm of HLB International that ranks among the world’s top 15 accounting and business advisory firms.

Data Security

easyMarkets treats the issue of data security with the greatest care by:

Using advanced SSL technology by Verisign to authenticate users, encrypt credit card payments and transfer data.
Separating the online activity server from the transaction information server.
Storing client data at duplicate server farms in the U.K.

Conclusion

easyMarkets provides a straightforward way for traders new to forex trading to get started quickly. Clients do not need to download any software and can handle just about everything to do with their trading account online. In addition to some useful educational material and API support for automated trading, the broker’s website also features a news feed from Reuters – the primary information provider for most professional forex traders.

Furthermore, easyMarkets has earned a reputation for operating respectably over the considerable amount of time it has been in the retail forex business that it pioneered. The broker also offers both good data security and regulation by authorities in two major regions. Overall, the firm offers a good mix of user friendliness and trustworthiness that make easyMarkets forex broker simpler to commend to newer forex traders.