Easy Forex Easy Forex Review

Easy Forex Review & Rating | Easy Forex Broker | easy-forex.com forex trading
3.1 5 RATING
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Easy Forex execution and slippage

2.01 pips
2.49 pips

Easy Forex slippage with Kama-spot trading strategy

Kama-spot is a forex trading strategy, based on technical analysis. It trades mainly EUR/USD, GBP/USD and USD/CHF

Average profit:                14.0 pips
Average trade lifespan:  19 hours
Most traded pairs:               EUR/USD, GBP/USD and USD/CHF

 

2.53 pips

Easy Forex slippage with Saved FX trading strategy

Average profit:                  16.0 pips

Average trade lifespan:    1 day

Most traded pairs:                 EUR/USD, GBP/USD, USD/CHF
1.91 pips

Easy Forex slippage with Qurenix trading strategy

Average profit:                  9.0 pips

Average trade lifespan:  5 hours

Most traded pairs:             EUR/USD
1.86 pips

Easy Forex slippage with Forex Cruise Control trading strategy

Average pips/trade:           5.0

Average trade lifespan:   18 hours

Most traded pairs:              GBP/USD
1.26 pips

Easy Forex slippage with For333 trading strategy

Average pips/trade:           12.0

Average trade lifespan:   15 hours

Most traded pairs:              GBP/USD, EUR/USD, AUD/USD
2.92 pips

Easy Forex slippage with Azar Consulting trading strategy

Average profit:                   28.0 pips

Average trade lifespan:   3 days

Most traded pairs:               EUR/USD
1.10 pips

Easy Forex slippage with The Best Player trading strategy

Average profit:                  22.0 pips

Average trade lifespan:   13 hours

Most traded pairs:               EUR/USD
0.13 pips

Easy Forex slippage with Xiaolidao trading strategy

Average pips/trade:           9.0 pips

Average trade lifespan:   1 day

Most traded pairs:               EUR/USD
1.92 pips

Easy Forex slippage with Youron trading strategy

Average profit:                  9.0 pips

Average trade lifespan:   11 hours

Most traded pairs:               EUR/USD, GBP/USD
4.02 pips

Easy Forex slippage with Duanxian(GBP\USD) trading strategy

Average profit:                      10.0 pips

Average trade lifespan:      1 days
 
Most traded pairs:                   EUR/USD, NZD/USD, GBP/USD

 Trading Accounts

 

Account type

Minimum deposit

Minimum trade size 

Maximum leverage

Min. Spreads

Standard

$25 

5k 

1:400 (MT4), 1:200 (web) 

3 pips

Premium

$2000 

50k

1:400 (MT4), 1:200 (web) 

2,5 pips

VIP

$20000

100k

1:400 (MT4), 1:200 (web) 

1.8 pips

    

The three main trading account types to choose from are: Standard, Premium and VIP. The standard account is suitable for newbies and clients who don’t wish to trade in high volumes; the premium one is targeted at regular and more experienced traders, while the VIP account is designed for professional large volume traders.

 

There are a number of features available solely on the VIP and Premium accounts, such as Personal Market Analyst support 24/5, Loyalty Rebates, Free Breaking news, SMS Alerts, etc.

 

Islamic (swap-free) accounts compliant with the Sharia law are also available to clients who don’t want to earn interest for religious reasons.

 

The Company

 

Easy-forex is the trading name of Easy Forex Trading Ltd. – a Cyprus-based brokerage, established back in 2003. It provides its services in over 160 countries worldwide, offering trading in 175 products ranging from currencies, CFDs, commodities and metals, to options.

 

Security of Funds

 

Easy Forex Trading Ltd, doing business as easy-forex, is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC, license No 079/07), and its Australian subsidiary - Easy Markets PTY Ltd. - is authorized and regulated by the Australian Securities and Investment Commission (ASIC).

 

CySEC applies certain rules to license holders, one of them being the requirement such firms to hold a minimum capital in order to conduct their business operations legitimately. The Commission requires Cyprus-based forex brokers to hold at least €1,000,000. As regulation of financial services providers usually involves such a requirement, Australian brokers are obliged to hold a minimum of $1,000,000 by ASIC, UK-based ones – € 730 000 and those in the US - $20 million.

 

Furthermore, the Cypriot financial watchdog applies a compensation scheme as additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, the compensation fund of last resort for customers of authorized financial services firms. If the Company becomes insolvent or ceases trading, it is able to pay compensation to its covered clients, amounting to a maximum of 20,000 EUR. Similar compensation schemes apply in other jurisdictions. FCA-regulated brokers in UK, for example, are under the umbrella of the Financial Services Compensation Scheme, where the maximum compensation cover is £50,000 per person.

 

Unlike many other EU-based brokers, Australian ones are not covered by any compensation scheme.

 

Trading Conditions

  

Minimum initial deposit
Easy-forex states on its website that it requires no initial deposit for the Standard account, however a minimum margin of $ 25 must be maintained, so basically you need to have at least $ 25 on your account balance in order to trade. This minimum initial deposit is reasonable and competitive, as other Cyprus-based brokers demand similar amounts: XM, for instance, requires a minimum initial deposit amounting to $5, FXTM - $100 and Exness requires none (for the Mini account).

 

Spreads & Commissions
This broker offers fixed spreads, which allows traders to predetermine their costs. What is more, no commission fees are charged, as the broker generates revenues through the bid-ask spread paid by traders on each transaction.


Easy-forex offers comparatively high spreads, however the ones on the VIP account amount to 1.8 pips on majors. For instance, Exness and Plus500, also CySEC regulated, offer fixed spreads amounting to 2 pips on EUR/USD.

 

Leverage
The maximum leverage level offered by this broker depends on the platform type used – 1:400 on MetaTrader 4 and 1:200 on the web proprietary platform. A leverage level of up to 1:400 is considered comparatively high, as some jurisdictions cap leverage ratios at considerably lower values – 1:50 in the US and Turkey; 1:25 in Japan: in Poland. The reason for such leverage limitations is that higher leverage involves higher risk of heavy losses. If you, however, need higher leverage, many Cyprus-based brokers offer such: XM – up to 1:888, FXTM – up to 1:1000 and Exness – up to 1:2000 (the highest available level in the industry).


Trading Platform


Clients of easy-forex may choose from the broker’s proprietary platforms (Visual Trading Machine and TradeDesk) and the popular Metatrader 4 (MT4).

 

The Visual Trading Machine is a web-based platform, providing real-time rates feed, one-click trading, freeze rate and live market news. What is more, it is fully transposable with the broker’s downloadable trading platform, TradeDesk (which means that you can open a deal with Visual Trading Machine and then close the same deal in TradeDesk).


 

In addition, easy-forex offers the powerful MT4, allowing traders to fully automate their operations by choosing from a wide range of Expert Advisors (EA) and let the program do all the work. This is one of the reasons this platform to be preferred by most traders. Besides, it offers a number of useful technical indicators, extensive back-testing and advanced charting package. Here is a list of more forex brokers offering MT4 platform.

 

Bonuses & Promotions

 

By the time of writing this review, there are two promotions offered (effective until March 31, 2016)
- First deposit bonus on initial deposit ranging from 30% to 50% (up to $2 000);
- Credit of up to GBP 200 against net losses incurred on first trade in any instruments in a client’s trading account.

 

Methods of Payment

 

Easy-forex offers a variety of payment methods, including credit cards (Visa, Mastercard, Maestro, Visa electron), bank transfer and e-wallet systems, such as, Skrill, Neteller and UnionPay.
All deposits and withdrawals are commission-free.

 

Conclusion


Easy-forex is a well-regulated broker that offers trading in various products worldwide through both its proprietary platforms and the industry’s standard MT4. To sum up the above, here are the advantages and drawbacks with regards to this broker:

 

Pros Cons
Well-regulated  Comparatively high spreads
Variety of trading platforms offered  
MT4 available  
Comparatively high leverage levels  
Bonuses available  

      
 

Latest news about Easy Forex
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Cyprus CySec MT4, MT5, Web $5 Review Website
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Cyprus CySEC MT4, MT5 $300 Review Website
New Zealand FMA MT4 $1000 Review Website
Belize IFSC MT4, Web $500 Review Website

Spread

 

Fixed spreads

  Vip Platinum Gold Mini
EUR/USD 3 3 4 5
GBP/USD 4 5 5 6
USD/JPY 3 4 5 5
USD/CHF 3 4 5 6

 

 

Pros

Cons

Spreads do not widen even during news releases

No commission

Wide spreads

 

 

Slippage

Pros

Cons

No slippage under normal market conditions 

No slippage during news

Easy Forex will not let you place stop orders on less than 30 pips away from the market before major news releases 

Requotes

Pros

Cons

'Freeze Rate Facility'  - couple seconds to

accept or dismiss a deal

No

 

Price feed

Pros

Cons

No

Spikes occur

Platform

Pros

Cons

Web based platform 

 

 

 

 

No desktop platform

Lack of functionality - takes too many clicks to open/edit position

Unreliable

Poor charts

No Autotrading

Deposit/Withdraw

Deposit

Withdraw

Bank Wire
PayPal   
Credit card

Bank Wire
PayPal   
Credit card

Customer service

Pros

Cons

Very Friendly Customer service reps

Phone

Live Chat

E - Mail 

No 

 

 

 

Summary

Pros

Cons

No slippage during news releases

Freeze Rate Facility 

 

 

 

Very wide spreads

Unreliable Platform

Spikes Occur

No demo accounts

No regulation

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