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easyMarkets

easyMarkets Review
Trader's rating 5
Editor's rating 4.9

Trading Accounts

  

Account type   Minimum deposit  Minimum trade size Maximum leverage Spreads
Standard $100 0.05 1:400 3 pips*
VIP $5000 0.1 1:400 1 pip

 

*Those Standard account holders who deposit $250 or more, get VIP spreads.

 

easyMarkets offers its clients two trading accounts to choose from, available on two platforms – the good old MetaTrader 4 and the broker’s proprietary web-based platform. Both account types offer commission-free trading, fixed spreads and leverage up to 1:400. Micro lots are available for trade only to Standard account holders.

 

There are a number of features available solely to VIP account holders, such as Personal Market Analyst, Loyalty Rebates, Express Withdrawals, Free trading signals, Free Breaking news, SMS Alerts, etc.

 

If you don’t need such extras or simply don’t want to invest 5 thousand bucks, you can get VIP spreads on your Standard account by depositing $250.

 

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. Security of Funds

 

Company

Country

Regulation

Easy Forex Trading Ltd.

Cyprus

CySEC

EasyMarkets PTY Ltd.

Australia

ASIC

 

easyMarkets (previously 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 on indices commodities, metals and Bitcoin, as well as options and forward contracts. 

 

Easy Forex Trading Ltd, doing business as easyMarkets, is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC, license No 079/07), and its Australian subsidiary - EasyMarkets 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 €730 000. 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.


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.


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

 

Focus on client protection 

 

 

 

 

easyMarkets is a broker that places a special focus on client protection. Apart from offering tight fixed spreads, which do not widen during news releases, easyMarkets is one of the few brokers that provide Negative Balance Protection. This means that you can never lose more funds than you have deposited, even though you are trading on margin.

 

Besides, it allows forex traders to cancel losing trades via its state-of-the-art feature dealCancellation, available on its in-house platform.

 

Trading Conditions

  

Minimum initial deposit

In order to open an account with easyMarkets, one has to deposit at least $100, which is a reasonable and competitive minimum initial deposit.

 

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.

 

Although fixed spreads generally tend to be wider that variable ones, this is not the case with easyMarkets – their spreads amount to 1 pips on EUR/USD and are accessible with a deposit of $250. In comparison, Exness and Plus500 (also regulated by CySEC) offer fixed spreads amounting to 2 pips for this currency pair.

 

Leverage

The maximum leverage level offered by this broker is 1:400, which is considered comparatively high, as CySEC has recently proposed the default leverage provided by brokers to be 1:50. The reason for such leverage limitations is that higher leverage involves higher risk of heavy losses. Nonetheless, many Cyprus-based brokers offer high leverage levels: XM – up to 1:888, FXTM – up to 1:500.

 

Trading Platforms

 

Clients of easyMarkets may choose from the broker’s proprietary web-based platform and the popular Metatrader 4 (MT4).

 

easyMarkets’ in-house platform offers advanced charts, live market news, technical analysis and sentiment all in one screen, one click trading (from the Market Explorer).

 

What is more, platform users get free Guaranteed stop loss and dealCancellation option, which are indeed two great risk management tools.

 

 

easyMarkets’ in-house web platform. Click to enlarge

 

 

In addition, easyMarkets 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, which includes the option to trade straight from the chart. 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);

-         - Refer-a-friend bonus from $25 to $500 for new clients who deposit at least $250. 

 

Methods of Payment

 

easyMarkets offers a variety of payment methods, including credit cards (Visa, Mastercard, Maestro, Visa electron), bank transfer and e-wallet systems, such as, Skrill, Neteller, WebMoney, SoFortüberweisung, American Express, Giropay, Ideal and UnionPay.

 

For withdrawals to credit/debit cards and eWallets there is no minimum withdrawal amount. For withdrawals to bank accounts, a minimum amount of USD 50 is required. All deposits and withdrawals with easyMarkets are commission-free.

 

Conclusion

 

easyMarkets is a well-regulated broker that offers trading in wide range of financial products products worldwide through both its proprietary platforms and the industry’s standard MT4. This is a broker that places a special focus on client protection. To sum up the above, here are the advantages and drawbacks with regards to this broker: 

  

 

Pros

Cons

Well-regulated

No significant disadvantages

Tight fixed spreads, no commission fees

 

Variety of trading platforms offered, MT4 available

 

Negative balance protection, option to cancel losing trades

 

Promotions available

 

 

Headquarters: P.O.Box 53742, Limassol 3317
 

Country: Cyprus

 

Regulated by: CySEC – License Number 079/07

Forex.com US

Forex.com US Review
Trader's rating 4.8
Editor's rating 5

 

Trading Accounts & Conditions

 

Account type Min. deposit Min. trade size Max. leverage Average Spreads
Standard $50 0.01 1:50 1.4 pips 

 

Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.

 

In addition, Forex.com offers swap-free accounts to investors of Islamic belief, as well as free demo ones for 30 days after sign up.

 

 

Forex.com (US) Advantages

 

Regulated in the US and other countries

Forex.com belongs to the Gain Capital group. Gain Capital meets high standards of corporate governance, financial reporting and disclosure. The parent company of the major FX brand Forex.com, GAIN Capital Holdings, Inc. (NYSE:GCAP)  is a registered Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).

 

Besides, its subsidiaries are properly licensed in the countries of their operation: 

 

Company Country Regulation
GAIN Capital Group, LLC USA NFA, CFTC
Forex.com UK Limited UK FCA
GAIN Capital FOREX.com Australia Pty Limited Australia  ASIC
Forex.com Canada Limited Canada  ILLROC
GAIN Capital Group (Hong Kong) Limited  Hong Kong SFC
GAIN Capital Japan Ltd.  Japan FFAJ

 

Apart from Forex.com, Gain Capital Group is operating the brands City Index, GTX, Gain Capital, FinSpreads, and others.

 

The largest broker in the US

Not only that Forex.com is regulated in the United States, but it is actually the largest forex broker in the country. After FXCM has left the US market, Forex.com became the undeniable leading provider of financial services in the US.

 

Actually, a very few brokers have remained active on the strictly regulated US market: Oanda, Interactive Brokers, and TD Ameritrade.

 

Competitive spreads

Forex.com offers commission-free trading with variable spreads, the average ones on EUR/USD amounting to 1.4 pips, which is a rather competitive pricing. By comparison, the cost of trading at Oanda, another US broker, is exactly the same.

 

Low minimum investment required

In order to open an account with Forex.com, one has to invest just $50. Almost everyone can afford such an investment.

 

Several top-notch trading platforms available

Leading US broker Forex.com offers a single account type on several trading platforms. The broker provides commission-free trading with variable spreads and the option to use micro lots.

 

Actually, this piece of trading software is as sophisticated and customizable as the MT4. Its professional-grade trading tools include top-notch interactive charting with more than 100 predefined indicators, as well as the option to create some of your own. There are also a number of Integrated trading strategies, which are also customizable. Besides, users can code their own trading strategies (in C++), there is a back-testing excel tool available, and signals trading. Here is a snapshot of the platform:

 

Click on the image to zoom-in.

 

Some of the new functionalities of the platform after a recent update include powerful charts with integrated one-click trading, smart trade ticket with advanced risk management option, pre-defined and customizable layouts, and more. 

   

Various payment methods, fast withdrawals

Yet another thing we like about Forex.com (US) is the fact that it support several convenient payment methods, and namelY Debit Card, Wire Transfer, ACH and Checks. What is even more important from a client's point of view, withdrawals are processed pretty fast – within 48 hours.

 

Bonuses available

Last but not least, Forex.com (US) offers cash rebates for high volume traders. The latter are able to get rebates up to $10 per million traded. 

 

 

Forex.com (US) Disadvantages

 

Leverage capped to 1:50

Actually, this is not a weak side of the broker itself, but a legal requirement in the US. Brokers operating in the country are not allowed to provide leverage of more than 1:50, and Forex.com simply complies with the regulatory requirements. 

 

 

Conclusion

 

Forex.com (US) is the largest US broker and one of the few actively operating in the country. A market leader offering trading in more than 80 forex pairs and CFDs, it has serviced over 200,000 customers globally.

 

The US broker is a part of the Gain Capital group – a leading forex brokerage with global presence. All members of the Gain Capital family are duly regulated by the respective governmental agencies, including Forex.com (US). It is registered with the CFTC and a member of NFA. US regulation is one of the strictest, which is a good thing in terms of investor protection, however some of the rules imposed are considered too restrictive.

 

For example, Brokers registered with the NFA are required to maintain a net capital of at least $20 million to guarantee customers’ positions, which is the highest minimum capital requirement worldwide. Moreover, hedging is not allowed and leverage is limited to 1:50, as we already mentioned above.

 

Now, let’s sum up the strong and weak sides of Forex.com (US):

 

Pros Cons
A global leading broker Leverage capped at 1:50
Solid regulation  
Competitive spreads, commission-free  
Several trading platforms, including MT4  
Low min. deposit required  

 

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