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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 are considering signing up with a broker, your first task must be to test how long they’ve been established and whether they hold membership of any regulatory bodies. The majority of our information comes from the company’s internet site but we have checked up on some info independently. However , changes may happen without warning and you must always do your due groundwork before investing with any money service.
Easy Forex is an international broker with separate internet sites for traders in USA, UK, Australia and rest of the world. The company operates as a currency market maker offering trading services to residents over 150 countries. They have been in business since 2003 and have offices in 9 states including the States, UK and Australia.
the corporation’s registered address is in Cyprus, which is a member of the ECU, but as forex brokers they are controlled in many different countries. They are registered with the CCFC and NFA in the usa, the Cyprus securities & Exchange Commission to cover the EU, and they hold an Australian Financial Services Licence with the Australian securities & Investments Commission. So this is a well established international broker.
Thanks to the high level of regulation in countries like the US and EU with stern financial services legislation, they do require evidence of identity before you can withdraw. To avoid delays when you desire your cash, get the paperwork fixed as fast as you sign up.
All major currency pairs are offered. In addition Easy Forex allows trading on a {tiny low} number of commodities such as oil and gold. Currency pairs and commodities can vary depending on your area, so check out the web site for what is provided in your neighborhood.
Tools include the usual range of charts, a finance calendar showing upcoming business indicators, Reuters reports feed, IRs and currency rates, plus SMS alerts for certain events. As well as viewing your own account, you may also 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 .
Additionally they offer coaching in technical research through webinars, videos and live one-on-one training.
There is also a demo trading methodology called the Trade Simulator, so you can become familiar with the platform and test systems. The platform may take some getting used to if you are switching from another broker who uses MT4. This is very different. Be certain to spend a little time in the Trade Simulator before going live.
Easy Forex make their money through the spread, with no upkeep costs and no fees on deposits or withdrawals. Current spreads are shown on the website. Spreads are reasonably high but this indicates that the spread may truly be their source of income so they haven’t any need to trade against you as some market makers do.
Instead of charging interest, they charge a fee 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 web and it is really positive for a broker with ahuge massive high} number of amateurs among the customer base. Easy Forex are praised particularly for their beneficial and friendly buyer service, which sets them above many comparable brokers.
One or two users have been unpleasantly surprised to receive margin calls on their cards. Margin calls are less commonly found in currency exchange than in stock trading but they can occur and beginners are commonly not prepared for this. You can stop unexpected charges if you deposit your funds by bank wire transfer. This takes longer of course, 3 to a few days is normal, but you will always be in a position of approving any future payments. Of course you may still have responsibility for a margin call and you should be using stop losses anyway to ensure that a losing trade will not even come near to threatening your whole balance, but we will all make mistakes and infrequently with small accounts this is difficult. Using wire transfer will avoid surprises.
This is a well established and regulated forex market maker with a large range of services and good feedback from current users. A sensible choice for day traders, especially for newbs or those wishing to move from another mini foreign exchange account broker. On the basis of this Easy Forex Review we can highly recommend Easy Forex.
