- Clearness and simplicity
- Spotless legal background
- Wide range of tradable assets, including the exotic ones
- Deal cancellation option
- High minimum deposit
- Lack of bonuses, promotions and specials
- Low diversity in terms of trading account options
- Ugly interface
Trading with easyMarkets: (way too?) simple broker for those who play safe
Easy Markets broker belongs to the Easy Forex Trading Ltd group of companies and refers to itself as an “online pioneer market maker established in 2001” and one of the first firms to be regulated in Cyprus. Website seems to be full of information, although it doesn’t contribute to user-friendliness – it takes some time to figure out the interface and find a necessary information, and the design looks messy and distracting.
16 years of experience brought Easy Markets 8 awards, particularly 3 “Blue Ribbons” by Smart Investor in 2008, 2009, and 2010, Best Platform UK by Global Banking and Finance magazine in 2016, and Best Broker 2013 by CIOT Expo.
The legal part looks seamless: the company is licensed by the Cyprus Securities & Exchange Commission, which has been passported in the European Union through the MiFID Directive and in Australia by ASIC.
All in all, the company offers a wide range of trading tools with a focus on simplicity – they don’t invest in a fancy design and position themselves as a basic and simple platform. Thus, they offer a truly wide range of trading tools: 135 major and exotic currency pairs for day traders, 5 metals, a whole bunch of energy and agricultural commodities, CFDs, indices, options, and an interesting DealCancellation tool that basically allows you to cancel a losing deal within 1 hour and have your losses returned. However, this option comes with a cost that is calculated basing on the realized volatility of the selected product, which makes it much less useful than it may sound.
Accounts, Spreads, & Leverage
The picture gets duller when it comes to the trading conditions. There are just 2 types of accounts: Standard and VIP. They differ a lot in terms of spreads, minimum deposit amounts, deposit bonus size, and extra services, so if you are looking for a specific set of conditions and tools or at least for something in between, you won’t find it at EasyMarkets. Minimum deposit starts at $100, which is quite pricy as compared to other market offers. Just for example: broker that I trade with (FBS) offers a minimum deposit of as little as $1, so that literally anyone can easily enter the market.
|Spreads as low as||3 pips||1.8 pips|
|Bonus||Up to 50% Bonus||Custom bonus|
|Education on the basics||YES||YES|
|Free trading signals||NO||YES|
Available Trading Platforms
As for trading platforms, the company has a custom one, and it comes in two forms: easyMarkets and MT4 by easyMarkets for those already comfortable and familiar with MetaQuotes platforms. These two vary in terms of functionality, but easyMarkets seems to have more options. However, EA trading is only available from easyMarkets MT4, and the deal cancellation tool can be used only from the easyMarkets platform. Long story short, interesting options are split into different categories of trading platforms/accounts, and one may have a hard time choosing a proper way of trading with this exact broker. easyMarkets trading app is also available for those who need to have a constant access to the market. The app looks clear and simple, providing the basic functionality at a zero cost.
Aside from that, the company posts market news, trading charts, live currency rates, provides a financial calendar and other standard tools.
According to the information on the website, the broker operates in Shanghai, Limassol, Warsaw and Sydney. One can change the site’s language to Arabic, Polish, and Chinese. Thus, trading with this broker would be fine if you don’t mind the entire interface in English, or in case you speak one of the alternative languages. Customer support looks okay, but definitely nothing to write home about – they offer their clients to send questions and suggestions to the email address, which is so 2000s. Apparently, easyMarkets is quite a closed community, and reaching their office may give you some headache.
Deposits and withdrawals are made via a classic set of options: local and international deposits with a bank transfer, credit and debit cards, and a bunch of popular international and local electronic payment systems (Neteller, Skrill, Webmoney; WeChatPay, SoFortüberweisung, China Union Pay, etc.) – 16 in total. The broker charges zero commission for the payouts, saying that “your funds are for trading”, which is nice to know.
Looking for the fun part at the Promotions section of the website was a disappointment: easyMarkets only offer a partnership program (they swear to have a 25% conversion thanks to contacting every lead), a bring-your-friend-type promo (up to $2500 for attracting people via all sorts of social media), and a welcome tradable bonus up to 50%/$2000 based on your first deposit amount.
The bottom line is, if you are looking for a really straightforward interface and a basic and clear set of tools, easyMarkets is your choice. Deal cancellation option that they refer to as their opus magnum may be a great solution for newbies with the lack of risk management skills. The overall performance feels good, but it’s hard to get rid of a thought that something’s missing here. Once the trader gets the grasp of things and starts looking for more, easyMarkets may be not enough. However, the basic features won’t let you down and contribute to a flawless performance. The set of trading instruments is impressive, too, so if you’d like to trade some exotic asset, you can find it here.