Review

easyMarkets Review: What Are the Award-Winning Broker’s Weaknesses?

Last Updated: May 15, 2023

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Author

Lawrence Pines

Risk Warning: Your Capital is at Risk.

Overview

easyMarkets is an online market maker that provides a trading platform for derivatives like contracts-for-difference. CFDs are derivative securities that allow customers to gain exposure to the price of financial instruments without actually holding the instruments in their accounts.

easyMarkets offers CFD trading in a variety of asset classes including forex, metals, agricultural goods, energy, indices, and cryptocurrencies.

The easyMarkets trading platform is known for its innovative features, including its proprietary dealCancellation tool, and its emphasis on transparent pricing.

Traders have access to over 200 markets including spot trades, forwards, and options.

This easyMarkets review also explores the broker’s cross-platform trading applications on desktop and mobile, if available in .

Why Choose easyMarkets?

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easyMarkets Essential Information

Where Does easyMarkets Operate?

easyMarkets is available in more than 150 countries and territories:

easyMarkets does not provide service to residents of certain countries and regions:

What Languages Does easyMarkets Offer?

easyMarkets offers traders seven languages on both the platform and the website. These are:

• Arabic
• English
• German
• Japanese
• Mandarin Chinese
• Polish
• Spanish

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Can I Trust easyMarkets?

easyMarkets is a company with an operating history dating back to 2001.

easyMarkets’ subsidiaries are individually regulated by the following agencies:

• Financial Services Authority Seychelles (FSA)
• Cyprus Securities Exchange (CySEC)
• Australian Securities and Investments Commission (ASIC)
• British Virgin Islands Financial Services Commission (BVI)

However, unlike other jurisdictions, residents in Australia, South Africa, and New Zealand have no additional compensation scheme in place to cover their deposits.

Who Runs easyMarkets?

Easy Forex Trading Ltd, the company that owns the trading name easyMarkets, is privately held.

The Chief Executive Officer of Easy Forex Trading Ltd since 2014 is Nikos Antoniades. He was previously the Chief Financial officer of the brokerage firm from 2013 to 2014 and the Deputy Chief Financial Officer from 2007 to 2013.

Prior to joining Easy Forex Trading Ltd, Antoniades worked as Assistant Group CFO for V. Ships Ltd and as an Audit Senior at Ernst and Young, Limassol.

Recent History of easyMarkets

• easyMarkets was established in 2001 under the name easy-forex.
• In 2010, easyMarkets integrated the popular MT4 Trading Platform.
• In 2011, easyMarkets released an iPhone trading app.
• In 2013, the broker launched a full mobile site for all tablets and smartphones.
• By 2015, the company officially offered over 200 markets in a variety of asset classes.
• As a result, the company decided to rebrand in 2016 and change its name from easy-forex to easyMarkets.
• In 2019, easyMarkets launched shares as a new trading product.
• As of 2020, easyMarkets also extended their dealCancellation feature to be applied up to 6-hours after submitting a trade.

Company Headquarters and Trading Names

easyMarkets has headquarters in Limassol, Cyprus, and a branch in Warsaw, Poland. The company has additional worldwide locations in Majuro, the Marshall Islands, and Sydney, Australia.

The company also has a marketing office in Shanghai, China.

easyMarkets is registered and regulated under two separate entities:

• Easy Forex Trading Ltd is authorized and regulated by the Cyprus Securities & Exchange Commission (License Number 079/07). The MiFID Directive provides a passport, which allows the entity to operate throughout the European Union.
• Easy Markets Pty Ltd is authorized and regulated by the Australian Securities and Investments Commission and holds an Australian Financial Services (AFS) license (License Number 246566).

Aside from MiFID, CySec, AFS, ASIC licensing, easyMarkets is also regulated by the BIV.

Traders can contact easyMarkets customer service for more information by phone, fax, email, live chat, or directly through the company’s worldwide offices.

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Getting Started With Trading at easyMarkets

easyMarkets offers its customers more than 200 products to trade.

The brokerage firm divides these offerings into six categories: forex, metals, other commodities (agricultural products and energy), indices, shares, and cryptocurrencies.

Forex CFDs

easyMarket traders can trade the following 60+ currency pairs through CFDs, Forwards markets, or Vanilla Options:

Metals CFDs

easyMarkets offers four categories of metals trading:

1. Gold and Silver: Day traders can trade spot gold and silver paired against a variety of currencies. Traders can also trade gold and silver as a vanilla option.
2. Alternative Metals: Customers can trade spot platinum and palladium, priced per troy ounce.
3. Copper: Spot copper against currencies.
4. Copper CFD: Customers can trade a copper CFD as a limit order with a future reserve date.

Other Commodity CFDs

There are three more categories for non-metal commodities at easyMarkets:

1. Brent and WTI Crude Oils
2. Heating Oil and Natural Gas
3. Grain and Crops
   • Corn
   • Wheat
   • Cotton
   • Soybeans
   • Coffee
   • Cocoa
   • Sugar

Index CFDs

easyMarkets offers customers trading in four categories of indices:

1. US Index Markets
   1. S&P 500
   2. Dow Jones
   3. NASDAQ tech
   4. USD (dollar) index
2. UK and European Indices
   1. UK FTSE 100
   2. German Dax
   3. France CAC
   4. EU Stocks
   5. Swiss SWI
3. Australian and Indian Indices
   1. Australian Securities Exchange
   2. India 500.
4. Asian Indices
   1. Japan Nikkei
   2. Hang Seng
   3. China 50

Cryptocurrency CFDs

easyMarkets offers trading against the US dollar for 20 cryptocurrencies:

1. Bitcoin (BTC)
2. Ripple (XRP)
3. Ethereum (ETH)
4. Litecoin (LTC)
5. Bitcoin Cash (BCH)
6. Dash (DASH)
7. Dogecoin (DOGE)
8. Algorand (ALGO)
9. Avalanche (AVA/USD)
10. Monero (XMR/USD)
11. ChainLink (LINK)
12. Cardano (ADA)
13. Chiliz (CHZ/USD)
14. OmiseGo (OMG)
15. Polkadot (DOT)
16. Polygon (MTC)
17. Solana (SOL)
18. Stellar (XLM)
19. Uniswap (UNI)
20. Zcash (ZEC)

All have maximum leverages of 1:2.

Please Note: Availability subject to regulations. Cryptocurrency CFDs are not available to UK retail traders.

Stock CFDs

As of 2019, easyMarkets have added shares to their choice of trading products. Currently, there are over 50 shares to choose from:

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Account Types and Requirements

easyMarkets offers two account types: a standard retail account and a professional account. When traders sign up with an e-mail address and a newly allocated password, a standard trading account is automatically created.

Traders can switch to a demo account by shifting the Live/Demo toggle at the bottom of the hamburger menu — both on desktop and mobile.

The professional account is also listed as a “VIP” account with which traders benefit from a variety of perks.

The VIP account’s features vary between the easyMarkets web/app and MetaTrader 4. Here’s a comparison of what traders get with a VIP Forex account based on which platform they use:

*Varies based on instrument

How To Verify Your easyMarkets Account

easyMarkets serves over 150 countries worldwide. Provided that easyMarkets accepts traders from , you can follow the below instructions to verify your account.

Before you can trade with easyMarkets for the first time, you need to answer a few questions.

You must provide your name, email, country of origin, and phone number. Then, you answer a few questions about your background and financial knowledge.

To pass their identity verification, you will need to upload the following documents to easyMarkets:

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Deposits and Withdrawals

As with any broker, easyMarkets charges certain fees that traders should be aware of. easyMarkets does not charge a commission but is compensated through spreads.

The minimum deposits are:

• €/$/£100 in Europe and for VIP accounts
• €/$/£25 for VIP Forex accounts
• €/$/£200 outside Europe

Aside from the minimum withdrawal of €/$/£50 via bank transfer, there are no minimum withdrawal amounts via other payment methods.

Deposit and Withdrawal Methods

Traders can make both deposits and withdrawals via a variety of payment methods. These are:

*See easyMarkets.com for supported and restricted countries for Neteller and Skrill

**Processing times are based on third-party estimates and may vary

Deposits by wire transfer may take as much as 5 to 7 days for funds availability, while deposits through Visa and MasterCard are the fastest.

How To Deposit Funds

1. Click on the “Deposit Funds” button on the main screen
2. Select the deposit method of their choice
3. Fill in the required information
4. Click “Submit.

Each CFD also has specific easyMarkets margin requirements that traders must maintain.

Traders who fall below the easyMarkets margin requirements risk receiving a margin call and having their position closed prematurely.

Withdrawal Process With easyMarkets

Withdrawals via bank transfer require a minimum of €/$/£50 to be withdrawn. All other withdrawal methods have no lower limit.

To make a withdrawal, easyMarkets requires proof of identity (such as passport or ID card) and proof of address (such as utility bill or bank statement).

The proof of address cannot be older than 6 months and must show the customer’s full name and residential address.

Other documents, such as credit card statements may be required depending on your account activity. easyMarkets notifies customers if it requires additional documentation.

How Long Do easyMarkets Withdrawals Take?

Customers should consult the Deposits & Withdrawals section of the easyMarkets website for details about withdrawal times.

easyMarkets processes all withdrawal requests within a day of receiving them. However, depending on the destination of the withdrawal, it may take between 3 to 10 business days for funds to arrive.

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Spreads and Commissions

easyMarkets does not charge commissions per trade — instead, they are compensated via spreads. Spreads vary based on the product, as well as the trading platform used by the trader, namely the web trader/app and MetaTrader 4.

Note: Where the spread tables below state “N/A,” the instrument has no fixed spread.

easyMarkets does not charge credit or debit card fees.

Forex Spreads

Metals Spreads

Other Commodity Spreads

Index Spreads

Cryptocurrency Spreads

easyMarkets hasn’t yet published spreads for all their listed cryptocurrencies. Note that cryptocurrency spreads may be adjusted more frequently than other assets due to high volatility.

Stock Spreads

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Mobile Platform Review

Much like the desktop platform, the easyMarkets mobile application has plenty of useful trading features and tools to offer on both iOS and Android.

Traders can download the app from the Google Play Store or the Apple App Store.

How To Register On easyMarkets Mobile

Once traders download the app, they are welcomed with ready-to-trade demo.

The introductory screen is a list of browsable asset classes and products, along with a three-item menu at the bottom of the screen.

Traders can upgrade to a real account by tapping the ‘My Account’ menu item at the bottom of the screen and selecting the ‘Make a Deposit’ button.

Types of Mobile Trading

The mobile app offers three ways to trade:

1. easyTrade
2. Day Trade
3. Pending Order.

The execution screen has a simple design where traders can set amounts, risk limits and dealCancelation rates with the slide of a finger.

Traders wanting to execute forwards or vanilla options trades will need to use the desktop trader accessible via web or alternatively, the MT4 trader.

Mobile Trading Tools

The mobile app isn’t as feature-rich as the web trader. Nonetheless, this does not mean that traders lack sufficient tools to analyze, gather insight, and assist efficient trade executions while on-the-go.

The primary mobile trading features include:

• dealCancelation: as with the desktop trader, traders can cancel deals with considerably lower losses up to six hours after the execution time.
• Inside Viewer: a sentiment indicator that shows the percentage of buyers and sellers during a trade execution.
• Market Explorer: full list of browsable and tradable assets on offer.
• Notifications: the option to receive notifications via SMS or the App.
• Live Rate Graphs: live indicators to gather insight on price movements.
• Financial Calendar: on-the-go updates on relevant financial events.

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Desktop Platform Review

The web-based platform allows traders to navigate between different trading instruments.

Dashboard

Upon logging in, traders are welcomed by a list of asset classes and products on the left-hand side, a trading ticket in the middle of the screen, and a comprehensive trading tool on the right.

The upper menu of the screen contains the available balance, the amount at risk, profit/loss statistics, and the CFD margin level. A “Deposit Funds” button is located on the right of these statistics.

Trading Tools

The trading tool can also be shuffled to function as a:

• Charting Tool: including templating, custom indicators, chart comparison, candle charting, timer, as well as custom drawing and patterning.
• Financial Calendar: events deemed significant by easyMarkets, customizable by time-frame and relevance.
• Technical Analysis Hub: detailed analytics and reports provided by easyMarkets.
• Market News Hub: compilation of articles published by reputable sources within the world of finance and trading.

easyMarkets Trade Types

The trading ticket allows traders to choose between the different types of trade categories that easyMarkets offers:

• easyTrade: with dealCancellation.
• Day and Spot: traders are required to select the trade amount, risk rate, and freeze rate.
• Forwards: the same requirements as day and spot trades, along with a forward date.
• Pending Orders: traders must select the amount, risk rate, and limit rate.

easyTrade also offers Vanilla Options with Forex instruments.

easyMarkets Trading Features Reviewed

The platform’s main trading screen gives traders access to more than 200 different instruments in one tab.

Market Explorer Engine

This panel contains the live prices and symbols of popular instruments traded on easyMarkets. Traders can search for a particular instrument via a search box, or navigate by category through the different asset classes.

Trade tickets for each financial instrument can be pulled up in one click. Traders can click on the star to create a favorites list.

Account Management

This panel opens via the hamburger menu on the main screen. From here, traders can access profile settings, reports, activity logs, and learning resources.

Under the menu, there is another “Deposit Funds” option along with a demo/live account toggle and live chat functionality.

Chart Window and Analytics

This large panel below the trading ticket displays the chart for the trading instrument the trader enters into the ticket.

Traders can configure the chart with customized indicators and technical analysis tools. Traders can also chart each instrument on multiple time frames.

The trade ticket also has four other tabs attached to it.

1. Open Trades Panel: This panel shows the trader’s active, pending and closed trades.
2. Market News: This tab shows headlines from leading market news services.
3. Financial Calendar: This very useful tool shows the dates and times for key upcoming economic announcements.
4. Trading Signals: A Technical Analysis Report for financial instruments traded on the platform.

Next to the chart window is a market sentiment tool. This shows what other traders on the platform are trading.

Other Useful Trading Tools

easyMarkets offers a variety of trading conditions. These are:

• Negative Balance Protection: traders can’t lose more money than the initially deposited sum.
• Stop-Loss Protection: the ability to place an order with a particular price point in the future to either buy or sell a product.
• No Slippage: slippage protection prevents traders in times of severe volatility when the actual price of a product may differ from the expected price by a significant amount.
• Freeze Rate: a unique tool at easyMarkets that allows you to execute the trade at which you initially clicked the buy/sell button at.
• dealCancellation: another unique easyMarkets tool that let’s you cancel your trade up to one, three, or six hours from the time of execution for a small fee, returning the majority of your initially traded funds.

Customer Support

easyMarkets offers multiple support avenues on all platforms. All users and website visitors may use the following support methods:

• Email
• Phone
• Live Chat
• Messenger
• WhatsApp
• Viber

The support team is available 24-hours-a-day, 5-days a week Monday to Friday).

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easyMarkets Demo Account

Traders can easily switch between the demo and the live trading accounts.

easyMarkets used to have a 7-day limit on their demo accounts. However, live account holders have access to an unlimited demo.

MetaTrader 4 Platform Review

The easyMarkets MT4 platform‘s highlighted features include:

• One-click CFD trading
• Custom trading templates
• Multiple-order types (market and pending)
• 80+ markets with easyMarkets.

There are also 14 available currencies with MT4, namely: USD, GBP, EUR, CAD, AUD, ILS, CNY, NZD, NOK, CHF, JPY, PLN, SGD, ZAR.

Traders can access their open orders and a ticket window, sentiment indicators, and contract information by clicking on a symbol in the Market Explorer Engine.

All features are linked together and accessible from a single screen.

easyMarkets Learning Resources

The easyMarkets Learning Centre provides extensive resources and educational materials for traders of all skill levels:

• Getting Started: This section features training videos including Introduction to Options and What is Forex?
• Free Trading Course: A free video training course designed for traders with little experience.
• Webinars: easyMarkets offers webinars on a variety of topics for traders of all skill levels. They are taught by experienced traders and cover advanced topics.
• Discover Series: This educational video series covers the history and event drivers of the broker’s most popular trading pairs.
• eBooks: These PDF format books cover topics from technical analysis to trading psychology.
• Trading Glossary: An alphabetical compilation of words and terms that are common in the trading world.
• Knowledge Base: These written materials and videos cover trading, easyMarkets products, the MT4 platform, financial analysis, alongside other trading topics.

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FAQs

Is easyMarkets a good platform?

easyMarkets offers over 200 products to trade on desktop, mobile, and all other responsive devices — it is an established broker regulated by FSA, CySec, ASIC, and BVI. Whether easyMarkets is a “good” broker or not will depend on the trader’s individual needs.

What type of CFDs does easyMarkets offer?

easyMarkets offers more than 200 CFD products across six different asset classes, namely, cryptocurrencies, commodities, metals, indices, currency pairs, and shares. CFDs can be traded by day trading, pending orders, forwards trading, or options. easyMarkets users can trade CFDs on both desktop and responsive devices.

What is the minimum deposit with easyMarkets?

The minimum deposit at easyMarkets for European and VIP traders is €/$/£100. Traders outside Europe with a standard account are required to deposit a minimum of €/$/£200. There are over 15 different payment methods to choose from when making a deposit, including credit/debit cards, eWallets, and wire transfers.

Does easyMarkets offer cryptocurrencies?

Yes, easyMarkets offers 20 cryptocurrencies — Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), Dogecoin (DOGE), Algorand (ALGO), Avalanche (AVA/USD), Monero (XMR/USD), ChainLink (LINK), Cardano (ADA), Chiliz (CHZ/USD), OmiseGo (OMG), Polkadot (DOT), Polygon (MTC), Solana (SOL), Stellar (XLM), Uniswap (UNI), and Zcash (ZEC). All cryptocurrencies have a maximum leverage of 1:2 for standard trading accounts with variable spreads. Markets are open from 22:00, Sunday (GMT) to 21:00, Friday (GMT). easyMarkets also offers a free Bitcoin eBook on their website.

What do I get with the easyMarkets VIP account?

Traders with VIP (or “professional”) accounts have a lower minimum deposit requirement, higher maximum leverage of 1:30, and a personal accounts manager. The VIP accounts also come with the easyMarkets’ advanced trading tools like dealCancellation, guaranteed stop/loss limits, and negative balance protection. VIP account perks vary based on which platform traders use (web/app or MetaTrader 4).

Start Trading now at easyMarkets

Credits: Original easyMarkets review written by Lawrence Pines. Major updates and additions in Jan 2021 by Marko Csokasi with contributions from the Commodity.com editorial team.