Review of Easy Forex
This Easy Forex review takes an in depth look at the brokerage services offered by this popular Europe-based broker.
Let us take the details first because when you’re considering signing up with a broker, your first task must be to test how long they have been established and whether or not they hold membership of any regulatory bodies. Most of our information comes from the company’s internet site but we have checked up on some information independently. changes may happen without warning and you need to always do your required groundwork before investing with any monetary service.
Easy Forex is a world broker with separate websites for traders in USA, UK, Australia and rest of the planet. The company operates as a forex market maker offering trading services to residents over 150 nations. They’ve been in business since 2003 and have offices in 9 states including the usa, UK and Australia.
the corporation’s registered address is in Cyprus, which is a member of the ECU, but as forex brokers they are regulated in many different states. They are registered with the CCFC and NFA in the States, the Cyprus stocks & Exchange Commission to cover the EU, and they hold an Australian money Services Licence with the Australian stocks & Investments Commission. So this is a well established world broker.
Because of the high level of regulation in countries like the US and ECU with stern fiscal services legislation, they do need proof of identity before you can withdraw. To avoid delays when you need your cash, get the bureaucracy sorted as fast as you sign up.
All major currencies are supported. Additionally Easy Forex permits trading on asmall low} number of commodities like oil and gold. Currency pairs and commodities can vary depending on your region, so try the web site for what is provided in your neighborhood.
Tools include the common range of charts, a financial calendar showing upcoming business indicators, Reuters stories feed, IRs and currency rates, and SMS alerts for certain events. As well as viewing your own account, you can also broadly see what other traders are doing on the platform : which are the favored pairs, whether most traders are taking long or short positions, etc .
Additionally they offer coaching in technical research through webinars, videos and live one to one training.
There’s also a demo trading system , called the Trade Simulator, so you can become familiar with the platform and test systems. The platform may take some getting used to if you are going from another broker who uses MT4. This is totally different. Be sure to spend some time in the Trade Simulator before going live.
Easy Forex make their cash thru the spread, with no upkeep costs and no fees on deposits or withdrawals. Current spreads are shown on the site. Spreads are fairly high but this indicates the spread may genuinely be their source of income so they don’t have any need to trade against you as some market makers do.
Rather than charging interest, they charge money on day trading deals that are held over to the next day. Avoid this by not opening trades right before midnight in their time zone (GMT +2).
We have checked user feedback across the web and it is extremely positive for a broker with a {large big high} number of amateurs among the client base. Easy Forex are praised especially for their helpful and friendly purchaser service, which sets them above many equivalent brokers.
1 or 2 users have been unpleasantly surprised to receive margin calls on their visa cards. Margin calls are less common in currency exchange than in stock trading but they can happen and noobs are often not prepared for this. You can forestall astonishing charges if you deposit your funds by bank wire transfer. This takes longer of course, 3 to 4 days is normal, but you’ll always be in a position of approving any future payments. Naturally you’ll still have liability for a margin call and you should be using stop losses anyhow to ensure that a bad trade will not even come near to threatening your whole balance, but we will be able to all make mistakes and sometimes with little accounts this is troublesome. Using bank transfer will prevent surprises.
This is a well established and controlled currency market maker with a wide range of services and good feedback from current users. A good selection for day traders, especially for beginners or those wishing to move from another mini foreign exchange account broker. On the principle of this Easy Forex Review we can highly recommend Easy Forex.