More About Easy-Forex.com Day Trading – (What They Say..)
The world of forex trading has undergone a transformation, making it more accessible and appealing to everyday investors. With advancements in technology and user-friendly platforms, trading in foreign currencies is no longer limited to institutions or professional brokers. Individuals can now take control of their investments, gain real-time insights into currency exchange rates, and execute trades from anywhere with an internet connection.
Online trading platforms have played a key role in this revolution. Companies like Easy Forex (now rebranded as EasyMarkets) have made currency trading straightforward, even for beginners. By eliminating the complexities and barriers traditionally associated with forex trading, they empower users to explore this dynamic market with confidence.
What Makes EasyMarkets Stand Out?
EasyMarkets has established itself as a trusted name in the forex trading industry by continually adapting to user needs. It offers:
- Customizable Trading Accounts: Tailored account types to suit different trading styles, from beginners to professionals.
- Flexible Deposit Options: Start trading with as little as $25, using credit cards, e-wallets, or bank transfers.
- Innovative Features: Their “dealCancellation” feature allows traders to cancel losing trades within an hour, offering a safety net for volatile markets.
- No Software or Downloads Required: Access a reliable, web-based platform from any internet-connected device without installation hassles.
- Diverse Markets: In addition to forex, trade commodities, cryptocurrencies, indices, and more—all on one platform.
EasyMarkets: Accessible Forex Trading for All
EasyMarkets (formerly Easy-Forex) provides a user-friendly proprietary trading platform offering 24/5 access to global forex markets. Established in 2001, EasyMarkets has revolutionized online trading by empowering retail traders with advanced tools and features previously accessible only to institutional investors. Its mission remains to simplify forex trading, enabling “everyday” traders to compete effectively with market professionals.
Regulation and Compliance
EasyMarkets operates under strict regulatory oversight, ensuring transparency and security for its clients:
- ASIC: Licensed by the Australian Securities and Investments Commission (AFSL 246566).
- CySEC: Regulated by the Cyprus Securities and Exchange Commission (License No. 079/07), offering services under European Union directives.
- Other Regions: Compliant with local financial authorities to provide services globally.
Global Presence
EasyMarkets has its headquarters in Limassol, Cyprus, with additional branches in Sydney, Warsaw, Tel Aviv, and Manila, providing localized support and expertise for traders worldwide.
Products and Features
EasyMarkets offers a range of trading products and features tailored to different trading styles and risk appetites:
- Day Trading: Execute currency trades in real-time with no commissions, leveraging a user-friendly interface and advanced charting tools.
- Limit Orders: Automate trades by setting target rates for execution. EasyMarkets continuously monitors rates, executing trades when predefined conditions are met.
- Forwards and Options: Diversify your strategies with forward contracts and vanilla options for hedging and speculation.
Platform Highlights
- Web-Based and Mobile Trading: No software installation required; access your account seamlessly from any device.
- Guaranteed Stop Loss: Manage risk effectively with features like guaranteed stop-loss orders, protecting your positions against volatility.
- dealCancellation™: Unique to EasyMarkets, this feature allows traders to cancel losing trades within a specified time frame.
- 24-Hour Trading: Trade continuously across major currency pairs with tight spreads and no hidden fees.
Trading Instruments
In addition to forex, EasyMarkets provides access to:
- Commodities (gold, silver, oil)
- Cryptocurrencies (Bitcoin, Ethereum, Ripple)
- Global indices
- Shares
- Vanilla options
Educational Tools
EasyMarkets is committed to educating its traders with:
- Real-time charts powered by advanced NetDania software.
- Daily market outlooks, including technical analysis, economic updates, and upcoming event previews.
- Comprehensive financial glossaries and a trading academy with tutorials, webinars, and a demo trading account.
Commission-Free Trading
EasyMarkets operates as a market maker, earning revenue through competitive spreads rather than commissions. This transparent model simplifies costs for traders. Rollover fees apply when positions are extended beyond a trading day.
Deposits and Withdrawals
- Minimum Deposit: Start trading with as little as $25.
- Flexible Payment Options: Deposits can be made via credit/debit cards, PayPal, Skrill, Neteller, and wire transfers.
- Ease of Withdrawals: Straightforward processes ensure fast and secure access to your funds.
This all sounds good; but what’s the real deal? (What We Say..)
Easy-Forex.com Review
Strengths of EasyMarkets
- User-Friendly Platform:
- EasyMarkets offers a web-based trading platform and mobile app that cater to beginners and experienced traders alike. Features like “dealCancellation” and guaranteed stop loss are innovative and useful, particularly for risk-averse traders.
- Regulatory Oversight:
- Being regulated by reputable authorities like CySEC and ASIC adds credibility and ensures compliance with strict financial standards. This is essential for maintaining trust in the competitive forex market.
- Risk Management Tools:
- Tools like guaranteed stop-loss orders and negative balance protection give traders more control over potential losses, which is not universally offered by all brokers.
Certainly! Here’s a critical analysis of EasyMarkets, balancing its strengths with areas where it may fall short:
Weaknesses of EasyMarkets
- Wide Spreads:
- While EasyMarkets doesn’t charge commissions, its spreads tend to be higher than many competitors. For active or professional traders who place frequent trades, this can result in higher overall trading costs compared to ECN brokers that offer tighter spreads.
- Limited Advanced Tools:
- While the platform is user-friendly, it may lack the depth of features that seasoned traders might expect. Advanced charting tools, algorithmic trading capabilities, and integrations with third-party platforms like MetaTrader 5 (MT5) or cTrader are absent.
- Low Leverage in Certain Jurisdictions:
- Due to regulatory restrictions, leverage levels may be lower for traders in certain regions, such as the EU or Australia, compared to brokers operating in less-regulated environments. This can limit the potential profitability of trades for high-risk strategies.
- Focus on Beginners:
- EasyMarkets is heavily geared toward beginner and intermediate traders. Advanced traders looking for a high level of customization, raw spreads, or direct market access may find the platform too simplistic.
- Lack of Tiered Accounts:
- While EasyMarkets provides various account types, it lacks highly customizable or tiered account options that cater specifically to high-net-worth or institutional clients.
- Limited Scalping Opportunities:
- The wider spreads and market maker model can make the platform less suitable for scalping strategies, where tight spreads and high execution speed are critical.
- dealCancellation Fees:
- While “dealCancellation” is a standout feature, it comes at an additional cost. This may not be immediately clear to new traders and could lead to misunderstandings about the true cost of using the feature.
A Note on Currency Trading
Forex Trading is a zero sum game, meaning that if you make money then someone else loses that exact amount of money… And just as likely, when you lose money someone else makes that exact amount of money. This wouldn’t be too terrible except that you are also paying for the
priviledge to possibly gain/lose money.
