easyMarkets is a platform that allows users to trade CFDs on commodities, forex, shares, indices, and cryptocurrency. This easyMarkets review will highlight the sort of features easyMarkets offers, including the types of accounts available, whether there are any demo account facilities, and how the trading platform functions.
We will also go into detail regarding any current bonus offers and compare key elements of the service to its rival firms (for example, minimum deposit and trade amounts).
The company is regulated by CySEC and ASIC which means it is a safe choice for CFD and forex trading. The brand is known for its web-based service which has been designed with user experience in mind.
Overall, the firm has a great reputation, particularly among those who are new to trading. easyMarkets is also known for its beginner-friendly features including a low freeze rate and deal cancellation.
easyMarkets offers users a choice of two platforms: its own proprietary platform, which is web-based (HTML5), and MetaTrader 4 (MT4).
The brand’s own platform is relatively light and features simplicity and cleanliness which is useful in keeping users focused on trading. However, it may not be quite enough to satisfy more demanding or experienced traders.
On the other hand, MetaTrader 4 is one of the go-to platforms for online trading, and as such, it has an excellent reputation.
It allows users to simply log on via the easyMarkets websites and begin trading instantaneously, with no requirement to download any additional apps or software.
easyMarkets has plenty of assets and investments to choose from. However, it’s worth remembering that the instruments on offer will vary based on the trader’s country of residence – not all instruments may be available to you.
At present, easyMarkets offers ways to trade such as:
- Vanilla Options.
- Forward Orders.
Further, they provide access to multiple markets such as forex, indices, commodities, metals, shares, and cryptocurrencies.
Spreads & Commission
Commission percentages on easyMarkets are reasonably low for Forex traders and generally hover around the industry average on CFD trades.
Trading costs can vary dependent on the type of account the user opts for, and spreads are fixed across both the web platform and MT4.
Spreads and pricing are transparent and freely available for users to check (Some are listed in our data panel on this review).
Choice of account type can affect the spreads too, though the accounts available to each trader will depend on their geographic location.
At easyMarkets, the leverage rates vary depending on the nature of the trade being considered. They also vary by account type, and the geographic location of the trader.
For most major Forex pairs, leverage is automatically set at 1:30 for EU traders. This includes major trading pairs such as EUR/USD. This leverage level is imposed by regulations and is generally the same across most of the large, regulated brokers.
Leverage is set at 1:20 for less commonly traded pairs (known as minor Forex pairs). This is set at 1:20 for pairs which include AUD/CAD, EUR/AUD, EUR/NOK, EUR/PLN, NZD/USD, and UDS/SGD.
Metals leverage is 1:20 for XAUGGBP, XAUEUR, and XAUUSD. For XAGUSD and XAGEUR metals leverage is set at 1:10.
Leverage is also offered on some indices (for example, 1:5 on USTech100).
Please note that leverage is never automatically agreed upon. easyMarkets will agree on leverage based on the previous trading record of a user, their individual experience, customer loyalty, and several other factors including geographic location.
easyMarkets has its own dedicated app for Android and iOS, which can be downloaded directly from the easyMarkets site or the Google Play Store and Apple App Store respectively.
The first thing to note about the easyMarkets mobile app is that it offers the same sort of fresh, clean design that mirrors its web-based counterpart. It even features the same syncing watch list as the website.
Charting is powered via the Trading View section of the mobile app, which again features the same indicators (81 in total) that the web version of the easyMarkets platform offers.
Just like the web version, the app allows users to trade via MetaTrader 4. All MT4 functions are available, which allows for effective trading wherever you are, whenever you need to.
However, one thing the app doesn’t offer is the sort of enhanced functionality that MT5 offers. This can be a bone of contention for users who want to be able to access MT5 while on the go but have to make do with MT4 as part of easyMarkets’ offering instead.
The app provides users with the following features:
- Trading (Forex, CFDs)
- Basic alerts
- Watch list
- Syncing with a web-based account
- 30 charts with indicators and studies
- Draw trend lines
- Moveable trend lines
- Multiple time frames
- Forex calendar
easyMarkets accepts a multitude of online banking solutions for payment, making it suitable for users all around the world.
With bank payments like SOFORT, Bpay, and Giropay available, and eWallets like Neteller, Skrill, Webmoney, iDEAL, and Fasapay available for depositing funds.
Users can also elect to use bank transfers for deposits and withdrawals, although these could take up to three working days. Most deposit methods are processed instantly, and there are no commission fees for funding your account.
In line with regulatory practices, account holders must be verified before any payments are approved.
Proof of address and proof of identity is required. If a credit card is used to fund the account, easyMarkets may require further documentation.
As with deposits, easyMarkets offers a variety of ways to withdraw money.
However, withdrawals must be made by the same means as the initial deposit.
The minimum withdrawal amount is £50. Payments are processed quickly via the easyMarkets platform. All withdrawals are correctly documented, allowing users to keep track of their history.
easyMarkets does not currently charge withdrawal fees, making it an attractive choice for traders around the world. The brand is constantly adding new currencies, and users are encouraged to check via the official website to confirm whether they can make a withdrawal in their currency of choice.
easyMarkets provides users with a demo account that allows users to hone their trading skills before investing their own money.
Because Forex is traditionally seen as a risky means of trading, new users are encouraged to put their skills to the test in easyMarkets’ free demonstration mode first.
Demo accounts come pre-loaded with £10,000 in virtual funds, which can be traded in much the same manner as real funds. There are no restrictions on the demo account, and the idea is to provide users with as accurate an experience of how the real thing works.
Deals & Promotions
easyMarkets likes to offer bonuses and promotions to its users to express gratitude for their patronage. However, users within the EU should be aware that these bonuses are not awarded to EU users. This is so the company falls in line with the regulatory demands of CySec.
New clients outside the EU receive a first deposit bonus of up to 50% on their initial deposit. Minimum deposits sit at £100, with a minimum credit bonus of £30. Users who make a first deposit between £200 and £1000 will receive the full 50% bonus. A maximum of £2000 can be received as a result of this offer.
Elsewhere, easyMarkets offers a “refer a friend” promotion. Users can enjoy up to £750 free to use on their easyMarkets account when they refer friends to the broker via email or social media.
To qualify, the referred user must create an account via the referral link and fund the account with at least £100. This offer does not apply to residents of Pakistan.
One of the more interesting promotional features of easyMarkets is its “Learn Centre” section of the website.
This is designed specifically to help traders gain information, knowledge, and strategies to help them make the right trading choices. Media includes articles, eBooks, and training videos.
The “Getting Started” section features four videos that deal with the basics of trading such as leverage, pips, and currency pairs. Each video is loud, clear, and precise, featuring full-on animations and a professional presentation.
For those with a little more experience, the “Discover” section looks at popular assets and describes concepts, terminologies, and trading history.
Registered users also gain access to ten downloadable eBooks, which can be read on smartphones, kindles, tablets, and desktop devices. These books focus on everything from the psychology of trading to technical analysis.
There is also a knowledge base that can be easily browsed, which focuses on different trading platforms and analyses, complete with detailed explanations of indicators, options, and other trading terms.
Regulation & Licensing
easyMarkets is regulated by CySec (the financial regulation body for Cyprus), this allows them to accept traders from all over the EU, including the UK. In addition to this, the brand is regulated in Australia by ASIC (the Australian Securities & Investments Commission).
To be regulated by each of these authorities, easyMarkets has had to demonstrate an exceptionally high level of fairness, transparency, honest trading, and full financial accountability.
Full Regulation Details
easyMarkets is registered with CySec as Easy Forex Trading Ltd. Its license number is 07907. The license was first granted on May 29th, 2007.
easyMarkets comes complete with a host of unique features, many of which make the trading process much easier – particularly for new or inexperienced traders.
For example, the easyTrade tool is useful for allowing users to set their risk limits, durations of trade, and potential payouts. This allows users to maximize risk, leverage, and profits. Trades are activated by using a simple up or down button, making it particularly useful for busy day traders.
Another useful tool is dealCancellation. This feature allows losing trades to be canceled up to 1, 3, and 6 hours.
When a trade is canceled, the amount risked by the user is returned to their trading account. However, users should be aware that this feature is available for a fee and does not come as part of the standard easyMarkets setup.
Freeze Rate is a tool that allows users to freeze onscreen prices for several seconds, enabling them to trade at the frozen price.
This is particularly beneficial for day traders operating in volatile markets, as every second count and the value of trade can change within a short timeframe.
Information-wise, easyMarkets has plenty to offer, including the latest news headlines (as all experienced traders know, news stories can heavily affect trading) and a financial calendar. These features are important for real-time analysis and can help to maximize profits.
The company provides VIP Accounts to European Clients. This has maximum leverage up to 1:30 due to regulatory restrictions.
The minimum deposit is 100 EUR and traders can have a Personal Account Manager who can provide them with information about market trends, economic events, investing strategies, and more.
Further, traders can have trading insights such as daily fundamental and technical analysis and trading central indicators. The spreads for this type of account are very low.
For Non – European Clients, the company provides three types of accounts (details below) Standard, Premium, and VIP.
The spread change depends on the account chosen. For standard accounts, the minimum deposit is 100 USD, for the Premium, 2000 USD, and for VIP 10.000 USD.
The maximum leverage for all accounts is 1:400. Personal account managers are assigned to all account holders. Daily emails on fundamental and technical analysis are also provided. easyMarkets supports the use of 18 account currencies
- Standard account: The minimum opening balance for a standard account is £100. Standard accounts have a fixed EUR/USD spread of 3 pips.
- Premium account: Users who opt for a premium account will receive a benchmark EUR/USD spread of 2.5 pips. An opening balance of £1000 is required to open a premium account. Minimum transaction sizes are 0.5 on the web and on easyMarkets proprietary platform, but 0.05 on the MetaTrader 4 platform.
- VIP account: This account features a EUR/USD spread of 1.8 pips. To qualify for a VIP account, users must make an initial deposit of at least £2,500.
- Demo account: This account is available to all traders. It is recommended for new traders who are just starting out. It can also be useful for experienced traders who want to test strategies, or for those who simply wish to try out the easyMarkets platform. Demo accounts come pre-loaded with £10,000 in virtual funds.
- Trustworthy platform
- Lots of different instruments to choose from
- Easy mobile trading
- Free research tools
- Up to 50% first deposit bonus for new traders (outside the EU)
- Low Fixed spreads
- No commission
- Responsive customer support
- Innovative trading platform with unique features
- No services to clients in the USA
- No cent account available
- Lacks Forex and VPS calculators
The easyMarkets site and app are open 24 hours a day, 7 days a week, 365 days a year.
However, it’s important to remember that not all markets are open all day, every day. This means that trading is restricted to the hours when markets you want to trade within are open.
For example, in GMT the New York Forex market operates from 9 am to 5 pm. In London, this is from 3 am to midday. In Tokyo, it’s 7 pm to 4 am.
Contact Details/Customer Support
The following contact/customer support channels are available:
- Facebook chat
- WhatsApp chat
- Live web chat
- Email: [email protected] or [email protected]
- Request a call back: via the easyMarkets website, users can enter their details and request that a representative gets in touch with them (via email or phone)
easyMarkets’ online chat attendants are incredibly responsive and generally respond to queries within 20 seconds. Online helpers are knowledgeable and willing to assist. Emails are typically responded to within 2-3 hours.
Safety & Security
A combination of regulation and in-house IT security protocols ensure that personal data and finances are completely safe with easyMarkets. The site uses encryption which means data can’t be intercepted by unscrupulous hackers.
Client funds are segregated in separate accounts in top-tier banks and clients are registered as per investor compensation fund protocols. This means that traders who choose easyMarkets are very well-protected overall.
As an established broker with almost twenty years of trading experience under its belt, easyMarkets is a simple but welcome platform that offers several advantages over its competitors.
Crucially, it is regulated by several different financial conduct authorities around the world. Not only does this provide its users with peace of mind and protection, but it also demonstrates that easyMarkets is willing to operate in an accountable and transparent manner.
In terms of usability, the site has a heavy emphasis on ensuring users can quickly and easily navigate while making trades. The platform itself has a relatively good range of different accounts and instruments to choose from. Regardless of what type of trader you are, you should find something here to meet – and potentially exceed – your requirements. With so many benefits, it’s easy to see why easyMarkets is so popular.
No. of Forex pairs: 81
GBPUSD Spread: Variable (dependent on account)
EURUSD Spread: Variable (dependent on account)
GBPEUR Spread: Variable (dependent on account)
Leverage limits (Regulated and non-regulated if different): 1:30 (EU), 1:400 (Rest of world)
Losing trader percentage: 74%
Easy Markets accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.
Traders can not use Easy Markets from the United States, Israel, Iran, Iraq, and Canada.
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