easyMarkets Experience Report
easyMarkets is a trading platform that allows traders to trade CFDs on commodities, forex, stocks, indices and cryptocurrency. This review will highlight the type of features easyMarkets offers, including the types of accounts available, whether there are demo accounts and how the trading platform works. We will also go into detail about any current bonus offers and compare the key elements of the service with competing firms (e.g. minimum deposit and trading amounts).
Founded in 2001, easyMarkets is regulated in Tier 1 and Tier 2 jurisdictions, meaning it is a safe choice for CFD and Forex trading. easyMarkets is known for its web-based service, which has been designed with the user experience in mind.
Overall, easyMarkets has an excellent reputation, especially among those who are new to trading. easyMarkets is also known for being beginner-friendly, including a low freeze rate and trade cancellation.
easyMarkets offers traders a choice of two platforms: its own proprietary platform, which is web-based (HTML5) and MetaTrader 4 (MT4).
The branded platform is relatively sleek and features a simplicity and clarity that is useful for keeping traders focused on trading. However, it may not be quite enough to satisfy more sophisticated or experienced traders.
On the other hand, MetaTrader 4 is one of the go-to platforms for Forex trading, and as such it has an excellent reputation. Traders can simply log in via easyMarkets websites and start trading immediately, without the need to download any additional apps or software.
easyMarkets offers a wealth of assets and investments to choose from. However, it should be noted that the assets offered vary depending on where the trader lives – not all assets may be available to you. Currently, easyMarkets offers the ability to trade in the following markets:
- Currency pairs
- Cryptocurrency (traded as CFD)
- Vanilla Options
- Spreads & Commission
Commission rates on easyMarkets are relatively low for forex traders and generally hover around the industry average for CFD trades.
Trading costs can vary depending on the type of account the trader chooses, and spreads are set via both the web platform and MT4.
Spreads and pricing are transparent and freely available to traders
The choice of account type can also affect spreads, although the accounts available to individual traders will depend on their geographical location.
At easyMarkets, leverage rates vary depending on the type of trade being considered. They also vary by account type and the trader’s geographical location.
For most major forex pairs, the leverage for EU traders is automatically set at 1:30. This also applies to major trading pairs such as EUR/USD. This level of leverage is mandated by regulations and is generally the same for most major regulated brokers.
For less frequently traded pairs (known as smaller forex pairs), the leverage is set at 1:20. It is set at 1:20 for pairs that include AUD/CAD, EUR/AUD, EUR/NOK, EUR/PLN, NZD/USD and UDS/SGD.
The leverage for metals is 1:20 for XAUGGBP, XAUEUR and XAUUSD. For XAGUSD and XAGEUR metals, leverage is set at 1:10.
Leverage is also offered for some indices (e.g. 1:5 for USTech100).
Please note that leverage is never agreed automatically. easyMarkets agrees leverage based on a trader’s previous trading experience, individual experience, client loyalty and various other factors, including geographical location.
easyMarkets has its own app for Android and iOS, which can be downloaded directly from the easyMarkets website or from the Google Play Store or Apple App Store.
The first thing that stands out about the easyMarkets mobile app is that it offers the same fresh, clean design that its web-based counterpart does. It even offers the same synchronising watchlist as the easyMarkets website.
Charting is done via the trading view section of the mobile app, which again offers the same indicators (81 in total) as the web version of the easyMarkets platform.
Just like the web version, the app allows users to trade via MetaTrader 4. All MT4 features are available, allowing effective trading wherever you are and whenever you need it.
One thing the app does not offer, however, is the kind of advanced functionality that MT5 offers. This can be a stumbling block for users who want to access MT5 on the go, but instead have to settle for MT4 as part of easyMarkets’ offering.
The app offers traders the following features:
- Trading (Forex, CFDs)
- Basic alerts
- Watchlist (watch list)
- Synchronisation with web-based account
- 30 charts with indicators and studies
- Drawing trendlines
- Moving trendlines
- Multiple time frames
- Forex calendar
easyMarkets Payment Methods
easyMarkets accepts a variety of online banking solutions for payments, making it suitable for traders all over the world.
Bank payments such as SOFORT, Bpay and Giropay are available, as well as eWallets such as Neteller, Skrill, Webmone, iDEAL and Fasapay for depositing funds.
Traders can also opt for bank transfers for deposits and withdrawals, although these can take up to three working days. Most deposit methods are processed instantly and there are no commission fees for depositing funds into your easyMarkets account.
In accordance with legal requirements, account holders must be verified before payments are approved.
Proof of address and 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 funds.
However, withdrawals must be made using the same funds as the initial deposit.
The minimum amount for withdrawals is €50. Withdrawals are processed quickly through the easyMarkets platform. All withdrawals are properly documented so that traders can track their history.
easyMarkets does not currently charge any withdrawal fees, making the Forex & CFD broker an attractive choice for traders around the world. easyMarkets is constantly adding new currencies and traders are encouraged to check via the official website to see if they can make a withdrawal in the currency of their choice.
easyMarkets provides users with a free demo account to hone their trading skills before investing their own money.
As Forex is traditionally seen as a risky trading tool, new traders are encouraged to test their skills first in easyMarkets’ free demonstration mode.
Demo accounts are pre-loaded with £10,000 in virtual funds that can be traded in the same way as real funds. There are no restrictions on the free demo account and the idea is to give users as accurate an experience as the real thing works.
Offers and promotions
easyMarkets is happy to offer its users bonuses and promotions to thank them for their support. However, users within the EU should be aware that these bonuses are not given to EU users. Thus, the company complies with the regulatory requirements of CySec.
New customers outside the EU receive a first deposit bonus of up to 50% on their first deposit. The minimum deposit amount is £100, with a minimum balance 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 is offering a “Refer a Friend” promotion. Users can use up to £750 free on their easyMarkets account when they refer friends to the Forex & CFD broker via email or social media.
To qualify, the referred user must create an account via the referral link and fund it with at least £100.
One of the more interesting promotional features of easyMarkets is the “Continuing Education” section of the website.
This is specifically designed to provide traders with information, knowledge and strategies to help them make the right trading decisions. Media includes articles, eBooks and educational videos.
The Getting Started section contains four videos that cover trading basics such as leverage, pips and currency pairs. Each video is clear, concise, with detailed animations and a professional presentation.
For those with a little more practical experience, the Discover section offers a look at popular assets and describes concepts, terminologies and trading history.
Registered users also get access to ten downloadable eBooks that can be read on smartphones, Kindles, tablets and desktop devices. These books cover everything from the psychology of trading to technical analysis.
There is also an easily searchable knowledge base that focuses on various trading platforms and analysis, complete with detailed explanations of indicators, options and other trading terms.
Regulation & Licensing
easyMarkets is regulated by CySec (the Cyprus Financial Services Authority), allowing them to accept traders from across the EU, including the UK. In addition, the brand is regulated in Australia by ASIC (the Australian Securities & Investments Commission).
To be regulated by each of these regulators, easyMarkets had to demonstrate exceptionally high levels of fairness, transparency, honest trading and full financial accountability.
easyMarkets is equipped with a variety of unique features, many of which make the trading process much easier – especially for new or inexperienced traders.
For example, the easyTrade tool is useful for allowing traders to set their risk limits, trade durations and potential payouts. This allows users to maximise risk, leverage and profits. Trading is activated by a simple up or down button, making it particularly useful for busy day traders.
Another useful tool is dealCancellation. With this function, losing trades can be cancelled within an hour. When a trade is cancelled, 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 is not part of the standard easyMarkets facility.
Freeze Rate is a tool that allows users to freeze prices on the screen for several seconds so that they can trade at the frozen price.
This is particularly beneficial for day traders who operate in volatile markets, as every second counts and the value of a trade can change in a short period of time.
On the information side, easyMarkets has a lot to offer, including the latest headlines (as all experienced traders know, news can greatly influence trading) and a financial calendar. These features are important for real-time analysis and can help maximise profits.
easyMarkets offers VIP accounts for European clients only. This has a maximum leverage of up to 1:30 due to regulatory restrictions.
The minimum deposit is EUR 100 and traders can have a personal account manager who can provide them with information on market trends, economic events, investment strategies and more.
In addition, traders can receive trading insights such as daily fundamental and technical analysis and key trading indicators. The spreads for this type of account are very low.
For non-European clients, the company offers three types of accounts (see below for details): Standard, Premium and VIP.
The change in spreads depends on the account chosen. For the Standard account, the minimum deposit is USD 100, for the Premium account USD 2000 and for the VIP account USD 10,000.
The maximum leverage for all accounts is 1:400. Personal account managers are assigned to all account holders. Daily fundamental and technical analysis emails 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 receive a fixed 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 easyMarkets’ proprietary platform, but 0.05 on the MetaTrader 4 platform.
- VIP Account: This account has 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.
- Super VIP account: The EUR/USD benchmark spread with a Super VIP account can be up to 1.2 pips. Users must make an initial deposit of at least £50,000 in quality for a Super VIP account. Minimum transaction volumes are negotiable.
- Demo Account: This account is available for 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 just want to try out the easyMarkets platform. Demo accounts are pre-loaded with £10,000 in virtual funds.
The following contact/customer support channels are available:
- Facebook chat
- WhatsApp chat
- Live webchat
- Email: email@example.com or firstname.lastname@example.org
- Phone: +181 93071000
- Request a callback: Through easyMarkets’ website, clients can enter their details and request a representative to contact them (via email or phone)
- The easyMarkets online chat representatives are incredibly responsive and usually answer queries within 30 seconds. The easyMarkets customer support staff are knowledgeable and helpful. Emails are usually answered within 2-3 hours.
Security and protection
A combination of regulations and internal IT security protocols ensure that personal data and finances are completely safe with easyMarkets. The easyMarkets website uses encryption, which means that data cannot be intercepted by unauthorised third parties.
Client funds are segregated in separate accounts at top-rated banks and clients are registered in accordance with investor compensation fund protocols. This means that traders who choose easyMarkets are very well protected overall.
Conclusion on easyMarkets
As an established Forex & CFD broker with almost twenty years of trading experience, easyMarkets is a simple but welcome trading platform that offers several advantages over the competition.
Crucially, it is regulated by several different financial authorities around the world. This not only offers peace of mind and protection to its users, but also shows that easyMarkets is willing to operate in a responsible and transparent manner.
In terms of usability, the easyMarkets website places great emphasis on ensuring that users can navigate quickly and easily while making trades. The platform itself offers a relatively good selection of different accounts and assets. Regardless of what type of trader you are, you should find something here that meets – and possibly exceeds – your needs. With so many benefits, it’s easy to see why easyMarkets is so popular.
Trade responsibly: CFDs and options are complex instruments and carry a high risk of losing money quickly due to leverage. 61% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs and options work and whether you can afford to take the high risk of losing your money.