easyMarkets Review: Is easyMarkets any good?
easyMarkets Broker Overview and General Information
EasyMarkets is an online trading platform that offers regulated forex trading and other financial products such as CFDs and options. They offer tight fixed spreads, negative balance protection, and a wide range of trading instruments. Users can trade on the web platform, mobile app, or other platforms. They have won numerous awards, including Best Forex Broker and Best Competitive Spread Broker.
However, as per the disclaimer on the website, CFDs and options are complex instruments and come with a high risk of losing money rapidly. Users should be aware of the risks involved before deciding to invest with EasyMarkets.
Broker Licensing and Regulation
If you ask whether easyMarkets is good or not, you must first consider the license factor, which has the following licenses:
British Virgin Islands Financial Services Commission (BVI FSC) License No. SIBA/L/20/1135 under EF Worldwide Ltd.
Cyprus Securities and Exchange Commission (CySEC) License No. 079/07
Under Easy Forex Trading Ltd.
Australian Securities and Investments Commission (ASIC) License No. 246566 under Easymarkets Pty ltd.
Financial Services Authority (FSA Seychelles) License No. SD056 under EF Worldwide Ltd.
Products and services from easyMarkets broker
Trading products
Forex
Shares
Cryptocurrencies: BTC, ETH, Ripple, Litecoin, Stellar, Bitcoin Cash
Metals
Commodities
Indices
Trading Platform
EasyMarkets Web Platform:
The EasyMarkets Web platform has built-in tools such as dealCancellation, Freeze Rate, and Inside Viewer that help reduce risk and increase profit opportunities. It also provides access to a wide range of financial instruments such as forex, commodities, indices, and cryptocurrencies, but lacks the advanced customization capabilities of the MT4 or MT5 platforms.
⚠️WARNING: Some users have reported that the charts on the EasyMarkets platform are difficult to read and difficult to create the desired templates. Even after creating a template, it may not open as intended when re-entering it.
MetaTrader 4 (MT4):
The MetaTrader 4 (MT4) platform is popular among traders around the world due to its advanced technical analysis and technical tools. It supports automated trading with Expert Advisors (EAs) and offers a wide range of order types and execution modes. MT4 is ideal for traders who want to customize and implement advanced trading strategies, but learning how to take advantage of its many features can take time, and the interface may not be beginner-friendly.
MetaTrader 5 (MT5 ):
The next generation MT4, MT5 features an improved user interface and advanced functionality, providing more order types, a built-in economic calendar and market insights for a more comprehensive trading experience. ETO Markets also supports MT5, giving you the flexibility to choose the platform that best suits your needs.
Mobile Trading Apps:
EasyMarkets’ mobile trading app is available for both iOS and Android devices and offers full account management capabilities on the go. The app offers live prices and interactive charts, making it ideal for traders who want to track and manage their trades while on the go.
TradingView:
TradingView is a platform that provides a social network for traders and investors. It offers advanced charting and analysis tools, and the ability to share and discuss trading ideas with a large community. A comprehensive set of analytical tools makes TradingView a good choice, but some features may require a premium subscription, and the complexity of the tools may not be suitable for beginners.
easyMarkets Broker Account Types
easyMarkets offers 3 types of trading accounts to choose from, but they differ depending on the platform chosen to trade with to meet the needs of different investors. The features depend on the platform chosen by the trader.
VIP Account
For trading via easyMarkets Web/App and TradingView
For trading via MT4
Premium Account
For trading via easyMarkets Web/App and TradingView
For trading via MT4
Standard Account
For trading via easyMarkets Web/App and TradingView
For trading via MT4
Considerations: From the above information, it can be seen that trading through the MT4 platform offers higher leverage and the minimum deposit even for the beginner account is quite high compared to other brokers.
Deposits and Withdrawals of easyMarkets Broker
Credit/Debit Cards
Visa
Free deposit fee
Deposit Time: Instant
Support: All countries
AstroPay
Free deposit fee
Deposit Time: Instant
Support: All countries
Online Banking
Local Bank
Free deposit fee
Deposit time: 24 hours
Support: LATAM,Africa,India,Indonesia,Vietnam,Thailand,Malaysia
Pix
Free deposit fee
Deposit time: 24 hours
Support: Brazil only
Net Banking
Free deposit fee
Deposit time: 24 hours
Support: India only
UPI
Free deposit fee
Deposit time: 24 hours
Support: India only
And other channels can be viewed at the easyMarkets website, but the website does not provide any withdrawal details. Traders should study the information again before choosing to invest.
Pros and cons of easyMarkets
strength:
weakness:
Limited regulations for non-UK clients: If you are outside the UK, you may be redirected to EF Worldwide Ltd, which is not regulated by the FCA, reducing investor protections.
Limited transparency on certain products: Information about specific CFDs offered (e.g. cryptocurrencies) may be limited.
The website does not support Thai language.
Lack of transparency in explaining withdrawal details
The starter account still has a high minimum deposit compared to other brokers.
easyMarkets Customer Service
Customer support is available via
EasyMarkets Broker Overview Summary
EasyMarkets offers a number of attractive features, especially for forex traders who value tight spreads and a user-friendly platform. However, the lack of FCA regulation for non-UK clients is a major concern. Furthermore, the focus on CFDs and options also highlights the risks involved in leveraged trading. If you value safety and are a beginner, EasyMarkets may not be the best choice. However, for experienced traders with a tolerance for risk, this may be a suitable option, provided they do their research thoroughly and understand the risks involved.
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easyMarkets Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide on the broker that suits your needs.
