Search
Close this search box.

easyMarkets Review: Is It the Best Low-risk CFD Broker?

easyMarkets review

easyMarkets is a leader in the forex and CFD space. The company offers fixed spreads as low as 0.9 pips for forex pairs. Thanks to low costs, no inactivity fees as well as support for varieties of financial instruments, easyMarkets is perfect for all traders regardless of their experience. 

In terms of safety and trust, easyMarkets is regulated by two top-tier financial regulators. More importantly, the company has won over 37 awards for its exceptional services. 

While the company provides a flexible trading environment for all levels of traders, the company is transparent with its operation. They have a robust security system for safeguarding customers’ funds. 

If you’re out for a broker that offers a variety of account types, you won’t go wrong giving easyMarkets a try. And for those who want to hone their trading skills, you’ll find the easyMarkets demo account feature worth trying. 

On the easyMarkets platform, traders are allowed to hedge, scalp, and use VPS and EAs for their trading activities. Even though easyMarkets doesn’t have a dedicated VPS, it allows traders to use third-party VPS. Read on as we delve into details of everything you need to know about easyMarkets. 

Pros and cons

Like many brokers out there, easyMarkets has its good and not so cool side, and because we want you to have all the information you need to decide if this broker is worth it or not, we have put together some pros and cons you should know. Let’s jump right in. 

Top Recommended Platforms

MIN. DEPOSIT

$50

EXCL. OFFER

USER RATING

9.8

4.9/5

78% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

MIN. DEPOSIT

$100

EXCL. OFFER

USER RATING

9.7

4.8/5

Trading forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.

MIN. DEPOSIT

$250

EXCL. OFFER

USER RATING

9.6

4.5/5

CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Pros

  • easyMarkets supports a large variety of trading instruments. Thanks to this, you don’t have to pay currency conversion fees. 
  • We also love that easyMarkets doesn’t charge any inactivity fees. This makes it a great trading platform for casual traders. 
  • easyMarkets has a lot of great features that appeal to traders. These features include a freeze rate. This brilliant feature allows traders to freeze asset prices for a few seconds. This is great during a volatile market. Another top feature we like is the Deal Cancellation feature. This feature allows traders to cancel and refund a losing position for a small fee. 

Cons

  • One of the things we don’t really like about easyMarkets is the fact that it is a market maker. 
  • easyMarkets only offers a fixed spread, which many traders wouldn’t find appealing. 
  • Compared to other brokers like eToro and Plus500, easyMarkets doesn’t really have a wide selection of instruments. 
  • While the company has a good education section, they have limited research resources. 
See also  FXTM Review: Is FXTM a Legit Broker?

Trading platform

easyMarkets offer two brilliant trading platforms you can choose from. Their proprietary web-based trading platform comes with a lot of unique features traders have come to love. On the flip side, they also support the famous MetaTrader 4 (MT4) platform. 

As we mentioned earlier, easyMarkets proprietary trading platform has some great features along with an intuitive and clean user interface that makes trading enjoyable. But compared to MT4, easyMarkets proprietary trading platform doesn’t come close. 

On the flip side, MetaTrader 4 has won a lot of traders over because of its impeccable features. Both newbies and experienced traders would fancy MT4 as it comes with sophisticated technical indicators and research tools great for analyzing different assets. 

And just so you know, MetaTrader 4 is available both on desktops and smartphones, so you can keep trading on the go. 

Supported digital assets

easyMarkets supports a variety of trading instruments you can choose from. That said, let us quickly add that the number of financial instruments you’re able to trade depends on your country of residence. What we are simply trying to say is that because of regulatory constraints, not all instruments are made available in certain countries. 

Here is a breakdown of financial instruments available to easyMarkets customers: 

  • Forward Orders
  • CFDs
  • Vanilla Options 
  • Easy Trade

In addition to these financial instruments, easyMarkets also provides traders access to multiple markets, including cryptocurrencies, forex, commodities, metals, shares, indices, and more. 

Account types

easyMarkets has a number of account types traders can choose from. Read on to get all the specifics. 

Demo account 

If you’re just getting started, the demo account feature provided by EasyMarket will get you started on your trading journey as you strive for mastery. With the demo account feature, you’ll be able to trade with virtual currency, so there is no risk of losing money or blowing your account. 

While you’re only trading with virtual currency, it works pretty much like the live market. So whenever you decide to go live and trade with real money, there won’t be a lot of differences. 

easyMarkets demo account is unlimited, so you can keep practicing until you’re confident enough to go live. To get started with an easyMarkets demo account, you only have to provide your email address along with a password, and you’re good to go. 

EasyMarket Standard Account

The EasyMarket Standard account type appeals to many traders because of its unique propositions. With this account type, you only need to make a minimum deposit of $25 to start trading. And yes, it offers a competitive spread you’ll love. The spread on this type of account starts from as low as one pip. 

Traders who use the Standard account type don’t have to worry about slippages thanks to fast execution. More so, you can use this account type either on MT4 or the platform’s Webtrader. 

MT4 account 

easyMarkets MT4 account appeals to many traders and for the right reasons. To start with, MT4 provides access to a variety of trading tools you won’t find on easyMarkets proprietary trading platform. In terms of technical indicators, only a few trading platforms come close to what you get with MT4. Also, the fact that it is available for desktops and smartphones makes it a wonderful option for many traders. 

See also  Webull Review: Should You Consider this Platform?

 

Using the MT4 account, traders can kick off their journey with as low as $25, so you don’t have to break the bank to open an account. While slippage is something traders have to be wary of with this account type, it’s important we also add that this happens very rarely. 

The downside of easyMarkets MT4 account type is that traders don’t get guaranteed stop loss. 

Also, trading fees and spreads remain quite competitive with this account type. 

easyMarkets VIP account 

There are lots of exciting benefits that come with easyMarkets VIP account. The best part is that traders with this type of account enjoy a reduced spread. While the spreads on this type of account start from 0.9 pips, traders also get guaranteed stop loss functionality. 

The minimum deposit for this account type is relatively low, making it a wonderful option for traders looking for an account type with many benefits. 

Another superb benefit of this account type is that traders can upgrade their account type directly from the MT4 app whenever they want. 

Easy Markets Islamic account

It’s interesting to see easyMarkets offer an account type you won’t find on many brokers. With this account type, you don’t have to worry about swap fees as there is nothing like that in the first place. More so, you don’t have to worry about regulatory concerns as the account is fully compliant with all relevant Sharia laws. 

What’s even more exciting is that easyMarkets doesn’t charge any additional fees for this type of account. That said, leaving a trading position open for 14 days comes with extra fees, albeit reasonable. 

easyMarkets Professional Account

If you’re a professional trader looking for an account type uniquely designed for you, you’ll love easyMarkets professional account type. Unfortunately, this account option is only available to traders in the UK and EU. To be eligible for this account type, you’ll need to meet these requirements: 

  • You must have executed ten trades of significant size per quarter within the past year
  • Your financial instrument portfolio must be over $500,000 in value.
  • You must have robust financial and trading experience. 

If you meet the above requirements, you’ll also be able to benefit from other benefits like a leverage ratio of up to 1:400 for forex. Additionally, you won’t have to worry about slippages. More so, traders also enjoy guaranteed stop loss functionality with this account type. While negative balance protection is one of the benefits of having a professional account type, traders also get a dedicated account manager and analysts. 

Leverage

easyMarkets offer superb leverages customers can take advantage of to increase their potential gains. While leverage comes with many benefits, it comes with its own risks too, so ensure you know how to use it effectively. 

The leverages offered by easyMarkets depend on the financial instruments you’re trading. Also, regulatory restrictions affect the kind of leverage customers can access. Here are some of the leverages provided by easyMarkets:

  • If you’re in Australia, where easyMarkets is regulated by ASIC, you’ll be able to access leverages up to 1:400 for major currencies and 1:50 for digital assets. 
  • Customers in Europe have access to much lower leverages, and that’s because of ESMA restrictions. This restriction means customers can only access leverages up to 1:30 for forex instruments and 1:10 for commodities. 
See also  Admiral Markets Review 2022: Is it the best forex & CFD broker

Trading fees

As we mentioned right from the get-go, easyMarkets is one of the few brokers that offer its customer fixed spreads. This is a brilliant option for traders who want to know just how much their trades cost. On a standard account, the fixed spread starts from 1 pip or 0.9 pips if you’re using an MT4 account. You can lower things further by opting for an easyMarkets VIP account. 

Here is a breakdown of some spreads from the most traded assets on easyMarkets: 

  • Gold – 75 pips
  • EUR/USD- 1 pip
  • BTC/USD- $35
  • SPX500- 0.5 pips

 

Another awesome feature traders enjoy on the easyMarkets platform is the ability to freeze the rate. This feature allows customers to freeze the price of an asset for a short period so they aren’t impacted negatively by volatility. It also ensures you can open a position at a great price.

Overnight fees

Overnight fees are something you’ll commonly see among brokers. On the easyMarkets platform, you’ll pay overnight fees for almost every instrument available on the platform because they are a CFD broker. 

Overnight fees usually come from holding positions overnight. This fee is charged at the close of the market. 

 

Non-trading fees

Here are some other fees you may incur when trading on the easyMarkets platform.

Inactivity fees

This broker doesn’t charge any inactivity fee. This makes it a go-to option for many traders especially considering that many brokers in the industry charge this fee. 

Payment Methods

easyMarkets supports multiple payment methods, making it easy for traders to fund their accounts. Simply navigate to the client area to see supported payment options. 

Deposit options

When it comes to deposits, easyMarkets ensures customers have a myriad of deposit options they can use. Some of the popular deposit options include credit/debit cards, bank transfers, PayPal, and eWallet payment options like Skrill, Neteller, WebMoney, and more. 

Research 

easyMarkets has a bunch of research tools that make trading easy for clients. The most popular research tool is the MetaTrader 4, which provides access to brilliant technical tools for analysis. 

Besides MetaTrader 4, easyMarkets is constantly improving its webtrader to offer unique features that give traders an edge. While easyMarkets may not have robust research features as you see on many other trading platforms, we love that they are working to improve their offerings. 

Education

If you want a broker that offers robust educational resources, you won’t be disappointed to check out easyMarkets. These guys are the real deal. They provide traders access to tutorials, webinars, and other resources aimed at sharpening their trading skills. We would also love to add that the company has received over 37 awards for its exceptional services. 

In a nutshell

easyMarkets has continued offering exceptional services since the company started operations several years ago. They are regulated by top-tier financial regulators and provide their services in many countries across the globe. 

easyMarkets offer competitive fees for its services and don’t charge inactivity fees for accounts left dormant. We love that they support a variety of trading instruments and offer various account types perfect for different trading conditions. 

If you’re looking for a low-risk broker with a lot of history, you won’t go wrong giving easyMarkets a try.

 

 

More to explore

Related Articles

67% of retail investor accounts lose money when
trading CFDs with this provider.

eToro: Best Trading Platform - 0% Commission to Trade Stocks & ETFs

eToro: Best Trading Platform - 0% Commission to Trade Stocks & ETFs

67% of retail investor accounts lose money when
trading CFDs with this provider.