easyMarkets is a well-known broker in the trading community, the review is that it primarily has user-friendly features and a commitment to safety.
The platform provides access to various financial instruments, including forex (currencies), commodities (like gold and oil), shares (stocks), and cryptocurrencies. This diverse offering makes it appealing to both new and experienced traders.
With easyMarkets, anyone can start trading and straightforwardly learn about the financial markets.
Read on to learn more about easymarkets, including its pros and cons, features, and customer reviews both positive and negative.
History of easyMarkets
easyMarkets is an online trading platform that started in 2001. Founded by Ammar M. A. Jomaa, the company is headquartered in Cyprus.
It has evolved significantly since it was established. Initially, it focused on forex trading, allowing users to trade currencies against each other.
Over the years, the company expanded its services to include Contracts for Difference (CFDs) on a wider range of assets, such as commodities, stocks, and cryptocurrencies.
Today, easyMarkets operates under strict regulations from prominent authorities, including the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC).
This regulation is crucial because it ensures that the broker adheres to high standards of financial conduct, helping protect traders’ funds and promoting transparency in trading practices.
Features of easyMarkets
easyMarkets review is known for several standout features that attract traders:
1. Regulation
easyMarkets is regulated by ASIC and CySEC, which means it follows strict rules to ensure the safety of traders’ money and fair trading practices.
This gives traders confidence that their funds are secure.
2. Negative Balance Protection
This feature is a significant safety net for traders. It means that if the market moves against you, and your account balance goes below zero, you won’t owe any money to the broker.
This protects you from losing more than what you initially deposited.
3. User-Friendly Platforms
easyMarkets offers a proprietary trading platform and supports MetaTrader 4 and MetaTrader 5. These platforms are known for their simplicity and effectiveness.
Beginners can easily navigate them, while advanced traders can utilize powerful features.
4. Variety of Instruments
The broker provides access to over 200 financial instruments. This means that traders can choose from many options, including major currency pairs, commodities like oil and gold, and popular stocks from companies worldwide.
5. Educational Resources
easyMarkets cares about helping traders grow. It provides a wealth of educational materials, including webinars, articles, and tutorials.
These resources help traders learn the basics and improve their trading skills over time.
Pros of easyMarkets
1. Innovative Risk Management Tools
Creative features like deal cancellation and Freeze Rate are great for trading in uncertain market conditions.
2. User-Friendly Platform
easyMarkets offers a proprietary platform that allows users to switch seamlessly between spot trading and options trading.
3. Multi-Currency Support
The broker supports account denominations in 18 different currencies, giving traders flexibility.
4. Forex News Integration
Users can access forex news headlines from FXStreet, keeping them informed of market trends.
5. No Slippage Guarantee
The easyMarkets platform ensures that there is no slippage, which can affect trade execution.
6. Compatibility with Popular Platforms
easyMarkets supports well-known trading platforms like MetaTrader and TradingView.
7. No Deposit or Withdrawal Fees
Traders can deposit and withdraw money without worrying about extra fees. This is a big plus, as it allows traders to keep more of their profits.
Cons of easyMarkets
1. Higher Spreads on MetaTrader
The spreads on its MetaTrader account are higher, and Guaranteed Stop Loss Orders (GSLO) are not available.
2. High Minimum Deposit for VIP Accounts
The VIP account requires a substantial deposit of $10,000, which may not be accessible to all traders.
3. Spreads on Premium Accounts
Premium accounts have higher spreads starting at 1.5 pips, which is less competitive compared to the low-spread VIP account and the more variable spreads available on the MetaTrader 5 account.
4. Outdated Web Platform Experience
The user experience on easyMarkets’ web platform feels dated and may benefit from a modern upgrade.
5. Limited Tradable Symbols
The number of tradable symbols offered by easyMarkets is below the industry average, which may limit trading opportunities.
6. Lack of Comprehensive Educational Content
Aside from a series of educational videos in its learning academy, easyMarkets does not provide extensive educational resources for traders
7. Inactivity Fees
easyMarkets charges a fee for accounts that remain inactive for 12 months. This fee is $25, which can be a downside for traders who may not trade frequently.
Customer easyMarkets Reviews
Many traders appreciate the platform’s simplicity. An anonymous trader stated,
“The easyMarkets platform made my first trading experience enjoyable. I found everything I needed right away.”
Users often highlight the responsive customer support team. One user mentioned,
“Whenever I had a question, they were quick to help. I felt supported.”
Also, Some traders have expressed frustration over the higher spreads, in the easyMarkets review. An anonymous review noted,
“I like easyMarkets, but their spreads are not the best out there. I found better options elsewhere.”
Advanced traders sometimes feel that easyMarkets lacks in-depth analytical tools. One user commented,
“I wish they had more advanced charting options. It would help me analyze my trades better.”
How to Get Started with easyMarkets Broker
Getting started with easyMarkets is a straightforward process. Below are guides on how to do it:
1. Visit the Website
Go to the easyMarkets official website to find all the information and features available.
2. Create an Account
Click on the “Open Account” button. You will need to fill out a registration form with your details, such as your name, email address, and phone number.
3. Verify Your Account
After registration, you must verify your account. This step involves uploading documents that prove your identity and address, such as a government-issued ID and a utility bill.
4. Deposit Funds
Choose your payment method to deposit money into your trading account. easyMarkets accepts various payment options, including bank transfers, credit/debit cards, and e-wallets.
The minimum deposit amount is $25, making it accessible for many traders.
5. Start Trading
Once your account is funded, you can start trading. Check out the platform, select the instruments you want to trade, and begin your trading journey.
FAQs
1. Is easyMarkets a safe broker?
Yes, easyMarkets is a regulated broker under ASIC and CySEC. These regulations help protect traders’ funds and ensure fair trading practices.
2. What types of accounts does easyMarkets offer?
easyMarkets offers several types of accounts, including Standard, Premium, and VIP accounts. Each account type comes with different features and benefits.
3. Can I trade cryptocurrencies on easyMarkets?
Yes, easyMarkets allows trading in various cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. This provides additional trading opportunities for users.
4. How can I contact customer support?
You can reach easyMarkets’ customer support through live chat, email, or social media platforms like Facebook and Twitter. They are known for being helpful and responsive.
Conclusion
In this easyMarkets, review is a solid choice for anyone interested in trading. It offers a safe and user-friendly environment with strong regulations and various financial instruments.
The features like negative balance protection provide additional security for traders, especially those who are just starting.
Although it has some drawbacks in this easymarkets review, such as higher spreads and limited advanced tools, the overall experience makes easyMarkets worth considering.
Remember to trade responsibly and keep learning to improve your trading skills.