This Easy Forex review takes a detailed look at the brokerage services offered by this popular Europe-based broker.
Let us take the small print first because when you’re considering signing up with a broker, your first task must be to test how long they have been established and whether they hold membership of any regulatory bodies. Most of our information comes from the firm’s website but we have checked up on some information independently. changes may occur without notice and you must always do your due diligence before investing with any financial service.
Easy Forex is a global broker with separate websites for traders in USA, UK, Australia and rest of the Earth. The company operates as a foreign exchange market maker offering trading services to residents over 150 countries. They’ve been in business since 2003 and have offices in 9 nations including the United States, UK and Australia.
the corporation’s registered address is in Cyprus, which is an affiliate of the ECU, but as forex brokers they are regulated in many different nations. They are registered with the CCFC and NFA in the usa, the Cyprus instruments & Exchange Commission to cover the EU, and they hold an Australian finance Services Licence with the Australian securities & Investments Commission. So this is a well established world broker.
Due to the high level of regulation in countries like the US and EU with strict fiscal services legislation, they do need explanation of identity before you can withdraw. To avoid delays when you desire your money, get the bureaucracy sorted as fast as you sign up.
All major currency pairs are offered. In addition Easy Forex permits trading on alittle low} number of commodities such as oil and gold. Currency pairs and commodities can vary depending on your area, so try the web site for what’s provided in your neighborhood.
Tools include the common range of charts, a finance calendar showing upcoming business indicators, Reuters stories feed, interest rates and currency rates, and SMS alerts for certain events. As well as viewing your own account, you may broadly see what other traders are doing on the platform : which are the popular pairs, whether most traders are taking long or short positions, etc .
In addition they offer coaching in technical research via webinars, videos and live one-on-one training.
There is also a demo trading system , called the Trade Simulator, so you can familiarize yourself with the platform and test systems. The platform may require a little getting used to if you’re going from another broker who uses MT4. This is totally different. Be certain to spend some time in the Trade Simulator before going live.
Easy Forex make their money thru the spread, with no upkeep costs and no fees on deposits or withdrawals. Current spreads are displayed on the site. Spreads are reasonably high but this indicates the spread may really be their source of income so they haven’t any need to trade against you as some market makers do.
Rather than charging interest, they charge money on day trading deals that are held over to the following day. Avoid this by not opening trades right before midnight in their time sector (GMT +2).
We have checked user feedback across the internet and it is extremely positive for a broker with a {large giant high} number of newbs among the shopper base. Easy Forex are praised particularly for their useful and friendly purchaser service, which sets them above many comparable brokers.
One or two users have been unpleasantly stunned to receive margin calls on their credit cards. Margin calls are less typically found in foreign exchange than in stock trading but they can occur and noobs are commonly not prepared for this. You can stop astonishing charges if you deposit your funds by bank wire transfer. This takes longer of course, 3 to 4 days is the standard, but you’ll always be in a position of approving any future payments. Of course you’ll still have responsibility for a margin call and you should be using stop losses anyhow to make sure that a loss-making trade will not even come near to threatening your entire balance, but we will all make mistakes and infrequently with little accounts this is hard. Using bank transfer will prevent surprises.
This is a well established and regulated foreign exchange market maker with a large range of services and good feedback from current users. A good selection for day traders, especially for newbs or those wanting to move from another mini forex account broker. On the supposition of this Easy Forex Review we can highly recommend Easy Forex.