Hello and welcome to another edition of the bulls vs the bears. Today I’m going to do something different. I’m going to give you my review of a popular forex broker called easyMarkets. It’s my personal take on their performance as a forex broker.It’s also my way of helping forex traders out there struggling in their search for a reliable forex broker with whom they could open a forex trading account.
Now I came across easyMarkets while looking for a place to open a forex account. When I first tried their platform I was like…These guys look like a good fit.” I sure wasn’t disappointed. But before I get into what impressed me about these guys, I can hear some of you saying:
Who is easyMarkets?
Well easyMarkets is a leading online forex and Commodities and Future Deposits broker. Based in Cyprus, it has branches in major cities around the world such as Shanghai, Sydney, Warsaw, to name a few. With such an existence reach, this makes it easier for easyMarkets to give traders easy access to financial markets. And it’s regulated across major regions such as Europe and Australia
Founded in 2001, easyMarkets first started out as easy-forex. easy-forex, at the time was the first forex broker to offer retail trading to prospective forex traders. As part of their rebranding strategy Easy-forex changed their name to easyMarkets to position themselves as a multi-asset outfit. In so doing they have built a huge portfolio which includes 97 currency pairs 22 metals, 12 commodities and much more.
Is easyMarkets Regulated?
Absolutely. easyMarkets is regulated in several regions including Europe and Australia. It is also regulated in Cyprus by the Cyprus Securities and Exchange
Now what is it about easyMarkets that impresses me the most?
Quick Response of Support Staff
When I opened my trading account I was quickly impressed by the quick response of Easymarkets support staff. One of the customer service reps Michelle, called me almost immediately and told me that if there was anything I needed I should not hesitate to call. Even more importantly, she said an Account manager will be assigned to me to help me one on one as far as managing my trading account was concerned.he
Even more impressive was the way they made themselves available 24/5 to any issues traders might have throughout the entire trading week. And they could speak in numerous languages. Due to the diverse clientele, they are able to communicate in languages such as Arabic, Chinese, and Polish.
easyMarkets customer support also make it easier for traders like myself to contact them on numerous channels. They can be contacted through online live chat, fax or phone.
I strongly believe that easyMarkets solid customer service makes it very reliable. In opening satellite offices in major financial centers such as Shanghai, Warsaw and Sydney, Easymarkets has shown great commitment to better customer support.
Easy Use Of Trading Platforms
The key factor that influenced my decision to open a trading account with easyMarkets is that it has something for every level of trader. For instance of you are a newbie just starting out , you could try your hands on the web-based trading platform. You can access this platform anywhere around the world with any browser. It doesn’t matter which corner of the globe you happen to be at. So long as there is internet connectivity you’re good to go. And you don’t need to download any sophisticated software. It’s browser-driven.
However, if you’re you an experienced trader, you will want to try your hands on something more nuanced. You’d most certainly want to try your hands on the more robust Meta Trader 4 platform(or MT4). Why? because MT4 has several built-in trading tools. But if you’re in sixes and sevens as to which platform to use, you could open a demo account. This platform allows traders to get a virtual feel for live trading conditions before actually going live.
And the demo account becomes yours for good when you open a live account. You can try out your trading edge or strategy on your demo before applying it live on the market.
easyMarkets surely were thinking about people like myself when they decided to launch their mobile trading app. I can access the financial markets regardless of which part of planet earth I am on by simply downloading the mobile trading app whether I have an Android or iOS device. Besides checking my trading status, what I particularly like about the trading app is this revolutionary feature aptly called “Deal Cancellation.” Here I can cancel all trading losses within one hour. Such that these losses do not reflect in my loss column. You find the same feature on web-based platform too.
Type of Trades/Instruments
easyMarkets have over 300 markets at the traders disposal. I can choose from among other things forex metal, cryptocurrencies, indices, options, e.t.c. Although my focus for this review is forex trading, I felt I should throw this extra caveat out there.
Two easyMarket Accounts
easyMarkets also has two account types for your choosing – a Standard Account and a VIP account. Now what I like about the standard account is that it has a low entry barrier. Such that it makes easier for everybody to open a trading account. And It’s great for those who don’t have much capital to get started . You can concentrate on growing your trading account and not worry about outside distractions
The VIP account is a bit on the steep side. You have to be seriously loaded to open a forex trading account in the VIP action. If you want to make truckloads of money, you may want to consider going to the VIP section. I’m not saying you can’t do same with the Standard account. But if you are looking to get ahead quickly you may want to open a VIP account. Just make sure you don’t trade like a gambler. Below are the features and benefits of both accounts:
- Minimum deposit of $100
- Competitive spreads
- 50% bonus
- Personal Account Manager
- Free basic trading education
- Platform tour
- Technical reports access
- Briefing on how to utilize all the main trading tools
- Minimum deposit of $10,000
- Ultra Tight spreads
- Custom bonus
- All benefits of the standard account
- Higher leverage
- Free signals
- SMS alerts
- Personal Analyst
- Express withdrawals
- 24 hours live support
I was also impressed with easyMarkets competitive and spreads. Of course it depends on the asset you are trading. Let me show you a few samples of some of these spreads
Funding and Withdrawal Options
What really did it for me was easyMarkets’ diverse funding and withdrawal options. I wanted to be giving the option of choosing from other alternatives if one payment/withdrawal option wasn’t to my liking I can always try the next one. Again, I’m going to show you, not just tell you. So here are the wide option of deposit and payment options that EasyMarkets accept:
- American Express
- China Union Pay
- International Deposit
- Local Deposit
You can withdraw money using the same methods for funding your trading account. Sure, there is no minimum withdrawal set. However, if you want your money transferred to your bank account you may have to wait 3 to 10 days.
Does easyMarkets Offer Deposit Bonus and Promotions?
Absolutely. You get a 50% bonus for opening a forex trading account with EasyMarkets. Not only that but EasyMarkets also offers an exciting program called “Share and Earn” All you have to do is to refer prospective clients to easyMarkets and you get a commission for your efforts.
That’s a Wrap
That’s a wrap for “My Review of easyMarkets – My Personal Take On”. As you may have noticed easyMarkets makes life easy for forex traders like myself. I’m impressed with their commitment to giving traders like myself the ultimate trading experience while we trade using their platforms.
And of course easyMarkets is well regulated. Even better, easyMarkets ‘s 24/7 customer support allows you to access their help at anytime regardless of which part of the planet you are located.
So if you are looking to go live, open a live trading account with easyMarkets.
But if you want to get a feel of the platform before going live, open a demo account with easyMarkets.