easyMarkets
About easyMarkets
easyMarkets was founded in 2001 and is a forex broker which allows users to trade CFDs on commodities, forex, shares, indices and cryptocurrency. It is regulated in one tier-1 jurisdiction the, Australian Securities & Investment Commission (ASIC), making it a trusted and safe broker for forex and CFDs trading. Originally considered as “easy-forex”, the initial purpose of the brokerage was to democratise Forex trading. easyMarkets is easy to use and offers various unique features suitable to beginners through its industry-standard trading platform.
This Forextradingfactory review highlights the features easyMarkets offers, including the types of accounts available, possible demo account facilities as well as details about their trading platform. Commission and fees with minimum deposit and trade amounts are also presented.
Commissions and Fees
All in all, easyMarkets offers transparent spreads. The type of account that clients choose, and their geographic location will affect the spreads which are fixed across the web platform, the MT4 and the VIP account (as low as 0.9 pips. Regarding easyMarkets’ minimum deposits, the broker offers the most competitive pricing on its VIP account, which requires a $2,500 deposit, $100 for EU and UK residents, as well as its web platform, which requires a $250 deposit. easyMarkets’ commission percentages are reasonably low for forex traders and are generally similar to the industry average. However, trading costs vary depending on the account type the user chooses.
Trading Accounts
At easyMarkets there is only one account type, which is commonly known as the VIP account. The highest leverage is 1:30. Trading conditions will depend on the platform clients select. In general, traders get tighter spreads in the MT4 trading platform. The in-house WebTrader platform requires a bigger minimum trade size while the spreads are higher.
The VIP service is available with a minimum deposit of $2,500. The currency for this was the EUR but it switched to USD. The change was supposed to be an effort to democratise forex trading within the foreign exchange market.
The easyMarkets WebTrader provides similar features with the exception of a personal analyst. A professional account is also available when at least two of the broker’s three requirements are fulfilled. In such a case, there is no Investor Compensation Fund (ICF) protection in return for higher leverage with cash rebates available based on trading volume.
Trading Platforms
easyMarkets offers clients two platforms to choose from: its own in-house platform, which is web based (HTML5) and MetaTrader 4 (MT4) trading platform.
The broker’s own platform has simple and clear features which make it useful in keeping users focused on trading. However, this may not be demanding enough for more professional traders.
The MetaTrader 4 is one of the industry standards in online trading with an excellent reputation. Users are allowed to simply log in via the easyMarkets websites and begin trading right away, without downloading any additional apps or software.
Education & Research
At easyMarkets there is dedicated material for research and education. There are 6 sections for the research category although only the blog contains original content. All the rest are simply a collection of data by external parties. The educational section offers valuable information and there is a mixture of videos and written content including sections on psychology of trading.
Regarding research material, there is a market news section which is a financial news feed, located inside the MT4 trading platform. There are also trading and live currency rates as well as a financial calendar available to be filtered to provide relevant upcoming financial data.