easyMarkets Review – Are They Suitable For Professional Traders?
easyMarkets Forex broker, previously known as easy-Forex, is a market maker broker that is located in Cyprus under the regulatory supervision of Cyprus Securities and Exchange Commission (CySEC). easy-Forex enjoyed an enormous amount of popularity in the retail FX market during its early years, and the recent rebranding initiative from the company is aimed at streamlining their services according to modern market requirements. The broker has expanded its reach to more than 120 different countries, having been a prominent player in the US, European, Australia, and Asian financial markets for many years. However, due to the increasing regulatory requirements and several laws that prohibit international FX brokers from operating in certain jurisdictions, easyMarkets is now concentrating its efforts on catering to traders from Europe, Asia, Africa, the Middle East, and Latin & Central America.
The CySEC provides one of the best regulatory environments for investors that guarantees the protection of funds and immunity against broker scams. The CySEC is affiliated with the European Central Bank and other European regulatory authorities, which brings it directly under the MiFID derivatives and EEA initiative. CySEC Forex brokers can operate in any part of the EU with a valid CySEC license, which allows easyMarkets to offers its services to traders from the EU without any additional licenses. However, easyMarkets should abide by all the rules applicable to financial companies operating in the EU, which include protecting traders through investor compensation funds, keeping client money in segregated accounts, ensuring the safety of funds by depositing them at top tier banks, and providing the best customer service experience.
What Are The Unique Advantages Of An easyMarkets Account?
easyMarkets offers an excellent feature for their client, known as the dealCancellation option, which allows traders to undo their losing trades with 60 minutes of opening a position. dealCancellation is a unique and innovative approach in the FX market that refunds a loss incurred during the first 60 minutes of trading, provided a trader closes the trade within the 60 minutes time frame and selects this option on their platform before opening a position. Of course, dealCancellation involves a nominal fee of trading, along with several other trading conditions, but high-frequency traders with a high-risk appetite can make use of this feature to great effect. dealCancellation is especially useful for trading news events and investing in the markets during volatile market conditions, but traders can also use this option during regular market hours.
easyMarkets, being a market maker, offers guaranteed take profits and stop losses, which are not available with direct market access trading. ECN and STP accounts cannot guarantee that an order will be filled at an exact market price, since market conditions, volatility, and the volumes (liquidity) in the market determine the outcome of a trade. Even entering and exiting the market can induce heavy slippages, which can include both positive and negative slippages. easyMarkets, on the other hand, promises to honor all orders at the market strike price with no slippages or requotes. In our experience, we have seen that even leading market maker brokers in the industry don’t guarantee a fixed stop loss or take profit, which makes Easy Markets an attractive proposition for traders looking for lower risk in the market.
The dealCancellation feature and guaranteed protection against slippage are options that are only available with the proprietary easyMarkets trading platform. The easyMarkets Trader is an excellent trading terminal for accessing the Forex markets through an online interface that does not require you install any file to your computer. The online platform can be accessed through any device, both desktop, and mobile, and offers the latest state-of-the-art SSL security and encryption for a safe and secure trading experience. The easyMarkets platform also provides access to different financial products such as Forex, metals, commodities, indices, options, and CFDs, along with a host of other proprietary features that can actually revitalize your trading experience. You can receive market news, technical analysis, daily outlooks, and a host of other resources directly through the platform, which makes it an incredibly attraction platform option from the company.
Traders are also provided the option of downloading the MT4 terminal for their trading needs, which was only recently included in the easyMarkets platform lineup. The MT4 misses out on several proprietary easyMarkets features but offers other advantages such as access to a dedicated trading platform, EA trading, Multi-Terminal trading, and trading directly from the charts. Both platforms are available as a dedicated easyMarkets mobile app for iOS and Android enabled devices, which covers a majority of the smartphone and tablet market. easyMarkets does have a reliable and high-speed trading experience, which is backed by guaranteed order execution policies on both trading platforms.
- Website: easymarkets.com
- Support: +357 25 828 899
- Leverage: 400:1
- Min. Deposit: 100 USD
- Spreads: from 1 pip
- MacWindowsAndroidLinux
Advantages
- Fixed Spreads
- Free Guaranteed STOP LOSS
- Free Trading Signals and SMS alerts
- 300+ Markets
Disadvantages
- $100 minimum account size
- Not US Regulated
The Minimum Deposit Options & easyMarkets Forex Bonus
A trader will be required to shell out $100 as the initial investment, which grants access to a single type of trading account with fixed trading conditions. The maximum easyMarkets leverage is 1:400, which is reduced for Polish traders due to the regulations of the Polish supervisory authority, KNF. Polish traders can only use a maximum leverage of 1:100, with additional margin requirements being imposed by the KNF on FX trading. Other than that, all other trading conditions are similar for all account holders, which include an average easyMarkets spread starting from 1.8 pips. The cost of FX trading is slightly larger at easyMarkets when compared to other market maker brokers, but easyMarkets does provide a range of options and attractive features to keep their clients interested.
Traders with a large trading capital can open a VIP account at easyMarkets by making a minimum deposit of $20,000. The VIP account gets a personal account manager, tighter spreads, more customized trading options, and a better trading environment, which are evidently designed to attract professional traders. However, we believe that most modern traders are looking for ECN conditions for larger account equities, in order to prevent any conflict of interest with their brokers. On the contrary, if you are looking for fixed spread trading conditions for a sufficiently large trading capital, easyMarkets is certainly a good choice.
Initial deposits qualify for a maximum easyMarkets bonus of 50% for a maximum amount of $2000. Other bonuses include refer-a-friend bonus and affiliate programs that are designed to promote the broker’s services through introducing brokers and affiliates. Unfortunately, all bonuses do have a variety of trading terms and conditions, which may impose severe restrictions on your trading capital.
easyMarkets can be a good choice of a broker in the industry, but other brokers can offer smaller deposit options with far better costs of trading. Regardless, easyMarkets has spent a considerable amount of time and resources to entice even professional traders into trying out an easyMarkets account to enjoy some of the groundbreaking features developed by the company. Open an account and trade with an easyMarkets demo account today, to test these services for yourself.
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