This Easy Forex review takes a detailed look at the brokerage services offered by this popular Europe-based broker.
Let’s take the small print first because when you’re considering signing up with a broker, your first task must be to check how long they have been established and whether or not they hold membership of any regulatory bodies. Almost all of our information comes from the company’s internet site but we have checked up on some info independently. However , changes may happen without notice and you should always do your due groundwork before Investing with any money service.
Easy Forex is a global broker with separate sites for traders in USA, UK, Australia and rest of the planet. The company operates as a forex market maker offering trading services to residents over 150 countries. They’ve been in business since 2003 and have offices in 9 countries including the usa, UK and Australia.
The company’s registered address is in Cyprus, which is a member of the EU, but as forex brokers they are regulated in many different nations. They are registered with the CCFC and NFA in the States, the Cyprus securities & Exchange Commission to cover the EU, and they hold an Australian finance Services Licence with the Australian stocks & Investments Commission. So this is a well established global broker.
Because of the high level of regulation in countries like the US and EU with stern finance services legislation, they do need evidence of identity before you can withdraw. To avoid delays when you need your cash, get the paperwork fixed 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 take a look at the web site for what is provided in your neighborhood.
Tools include the usual range of charts, a fiscal calendar showing upcoming commercial 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, and so on.
Additionally they offer training in technical analysis thru 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 some getting used to if you’re going from another broker who uses MT4. This is totally different. Be sure to spend a little time in the Trade Simulator before going live.
Easy Forex make their money through the spread, with no upkeep charges and no fees on deposits or withdrawals. Current spreads are displayed on the website. Spreads are reasonably high but this indicates that the spread may truly be their source of income so they don’t have 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 next 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 really positive for a broker with a {large massive high} number of amateurs among the shopper base. Easy Forex are feted especially for their helpful and friendly customer service, which sets them above many akin brokers.
1 or 2 users have been unpleasantly surprised to receive margin calls on their credit cards. Margin calls are less commonly found in foreign exchange than in Stock Trading but they can occur and beginners are frequently not prepared for this. You can forestall 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. Naturally you will still have responsibility for a margin call and you should be using stop losses anyhow to ensure that a bad trade will not even come close to threatening your entire balance, but we will all make mistakes and occasionally with little accounts this is troublesome. Using bank transfer will prevent surprises.
This is a well established and controlled forex market maker with a good range of services and good feedback from current users. A sensible choice for day traders, especially for beginners or those wanting to move from another mini foreign exchange account broker. On the principle of this Easy Forex Review we can highly recommend Easy Forex.
