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Easy Forex - The First Broker To Launch AUD/CNH Trading

Jul 03 2013
By
Forexbrokerz.com

The forex industry predicts bright future for the Chinese renminbi – and easy-forex is the next broker to jump on that train with its newly introduced renminbi currency pairs. 

 
The broker has added currency pairs on the offshore yuan (the one traded in Hong Kong) – CNH, and matches it against the US dollar, Euro, Australian dollar and Japanese yen. 
 
With this step, easy-forex is entering the still very small club of brokerages offering forex trading on China's offshore currency – the other members are Forex.com, ThinkForex, Saxo Bank, FXDD, and GFT Markets. OANDA also offers yuan trading, only its offering is on CNY – the onshore renminbi. 
 
The one thing you should keep in mind about easy-forex is that it offers fixed spreads – which means that you should be prepared for spreads much higher than the variable ones. Let's take a look. 
 
There are three account types offered by the broker, and the spreads are different for them. 
 
Standard account spreads:
 
- USD/CNH: 40 pips
- EUR/CNH: 50 pips
- AUD/CNH: 50 pips
- CNH/JPY: 110 pips
 
Premium and VIP accounts spreads:
 
- USD/CNH: 35 pips
- EUR/CNH: 45 pips
- AUD/CNH: 45 pips
- CNH/JPY: 105 pips
 
You're probably wondering how does this compare to the other brokers offering renminbi trading, so here, you're welcome: 
 
Spreads in pips
 
As you can see,  easy-forex is way above the market average, but then again the broker's fixed spreads protect you from unexpected market swings so there's that. 
 
The one thing that you may notice in the comparison table above is that easy-forex is the only brokerage that offers AUD/CNH trading – and there's a reason for that. It was only a few months ago that China and Australia signed an agreement for the free direct conversion between the yuan and the Australian dollar. With easy-forex being the first to adopt this new currency pair, perhaps other brokers would follow too – and an additional incentive would be the the expectation of having a free-floating yuan within five years, thus helping the renminbi trading become a more and more popular trading instrument.
 
“Once again easy-forex is paving the way for the masses to access these exciting trading products. Our traders can trade CNH against multiple currencies without the need of a VIP account. We work hard to keep our promise of providing easy access to desired products to all traders worldwide,” said Hillik Nissani, CMO of easy-forex.
 
 

About easy-forex

 
Easy-forex is an online trading group that was founded in 2003 and has revolutionized currency trading in over 160 countries ever since.
 
With one easy-forex account, traders can trade currencies, commodities, indices and options using their web, desktop or mobile platforms, from any location. Trader-focused benefits include guaranteed stops and fills, no maintenance margins, tight fixed spreads, fast execution, no slippage and advanced charting tools. Every trader has an account service manager that provides personal training and our dealing room provides timely market information and exclusive tools to traders that are looking to take their trading to the next level. 
 
We are licensed by the Cyprus Securities & Exchange Commission - CySEC, (which has been passported in the European Union through the MiFID Directive) and Australia

 

TAGS: easy-forex  forex trading  forex broker  forex  forex spread  Chinese Yuan  renminbi  currency pair  exotic pairs  CNH  CNY  RMB 

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