EasyMarkets floor overview
easyMarkets, formerly known as easyForex, is a trademark owned by easyMarkets Group. This group consists of 2 companies operating in 2 regions and are licensed by reputable forex regulators around the world.
- Easy Forex Trading Ltd is a company licensed by CySEC - Cyprus Securities and Exchange Commission, license number 079/07
- Easy Markets Pty Ltd is incorporated in Australia, licensed and controlled by ASIC - Australian Securities and Investments Commission, license number 246566.
Both CySEC and ASIC are the world's leading prestigious agencies, so investors can feel secure when opening trading accounts on this exchange.
Under the control of CySEC and ASIC, the activities of easyMarkets will become more transparent and the interests of investors will be protected. In addition, this forex broker also separates customers 'accounts with the company's accounts and deposits them in reputable banks, ensuring that customers' money will be absolutely safe.
Operating in the market for nearly 20 years (since 2001), easyMarkets has a certain foothold in the market, serving more than 142,000 customers from many countries around the world and has achieved certain achievements. . Some awards that this forex floor has to mention are The best forex broker Dubai of The Forex Expo 2019, The best trading platform awarded by FX Empire 2017 ...
Legally, easyMarkets is considered as a reputable forex broker, with Vietnamese traders, some benefits may be more limited than European and other regional traders but in general this is still is a good forex floor, can be invested. However, if it only depends on the legality to decide to open an account at a forex trading floor, it may be too early. Therefore, with the following specific reviews of easyMarkets will partly help you get the best view of the forex trading conditions and platforms, so it is not too late to make a decision.
Trading products
easyMarkets offers investors a broad portfolio of products, including forex, metals, indices, stocks, cryptocurrencies and commodities.
- Forex: offers 62 currency pairs, including the main currency pair, cross currency pairs and foreign currency pairs (exotic), particularly exotic pairs are rarely interested by investors because of high volatility and high spread.
- Metal: in addition to gold and silver are the two main metals, investors can also trade copper, platinum and palladium. In particular, gold and silver are quoted in different currencies such as USD, EUR, AUD, GBP, CHF, NZD, JPY; The remaining metals are only quoted in USD.
- Index: providing 15 indices from many stock markets around the world such as USA, Australia, Hong Kong, Germany ... some famous indices such as Dow Jones, NASDAQ, S&P 500 ...
- Share: more than 50 stocks are traded at easyMarkets, which are well-known in many markets such as the US, Australia, Japan, Hong Kong and Europe. Famous stocks are traded in large volume such as Apple, Facebook, Amazon, Netflix, Honda, Adidas ...
- Cryptocurrencies: there are hundreds of coins currently in the market, but easyMarkets only supports investors to trade 3 popular coins with large market capitalization, namely Bitcoin, Ethereum and Ripple.
- Goods: energy and agricultural products are the two main commodities traded on this exchange. Energy includes US oil, UK oil and natural gas; Agricultural products include wheat, coffee, sugar, cotton, corn, etc.
In addition, easyMarkets allows investors to trade options contracts on 26 pairs of forex, gold, silver, crude oil and futures contracts on all products. Although it is not possible to fully call all the products currently on the market, but with this amount, it is enough to meet the trading needs of investors.
Trading Account
At easyMarkets, investors can open one of three types of trading accounts: Standard, Premium and VIP.
Standard account
Is the most basic account at the floor, suitable for new traders, little capital and trading in small volumes. This account will experience the most basic services, for all customers of the floor.
- Apply the negative balance protection policy
- Get support from your Personal Account Manager
- Support from staff via phone and live chat 24/5
Premium account
Is a more premium account, more suitable for large capital traders, experienced and traded in large volumes. In addition to the services that are applied on the Standard account, this account also receives other preferential services such as participating in events, seminars for high-class customers, receiving signals and alerts. daily transaction reports ...
VIP account
This account is only for professional traders, financial experts and the rich. To become an easyMarkets VIP customer, investors only need to register using the provided form and deposit an account of at least 10,000 USD. As a VIP customer, investors at easyMarkets will receive a lot of privileges and special care services:
- Can trade by phone
- There is personal analyst directly
- Get the latest market news via real-time SMS
Compare trading conditions on 3 types of accounts
For Vietnamese investors, especially new traders, the Standard account will probably be the most suitable, besides, you can open a Demo account to experience the trading conditions at easyMarkets without It costs money. However, we do not encourage you to trade too long on the Demo account because they do not bring psychological factors, instead, you can trade on this Demo account for a while to get used to The market then considers opening a live account with a small deposit amount to both trade in a real environment with real psychological factors, just to practice investing without fear of losing too much money.
Trading platform
Besides MT4 software, easyMarkets has developed a web trading platform exclusively for its customers and the platform has also received many awards.
MT4 software
Is the most commonly used platform today when more than 90% of forex trading platforms in the world provide its customers. Developed by MetaTrader, MT4 gives users the best experience, supporting from basic to advanced trading. Some features on MT4 software:
- 3 types of price charts
- 9 time frames
- 4 types of pending orders
- More than 30 technical indicators and 20 drawing tools support chart analysis
- Provide daily economic news
- Access to forex trading support services from MetaTrader's MQL5 Community platform.
- MT4 is used on computers and mobile applications
EasyMarkets Web platform
Is a simple but very versatile platform, friendly interface and offers a lot of good support features for transactions. Some salient features on the easyMarkets Web platform:
- 7 types of price charts
- 11 time frames
- Deal Cancellation: this feature will help the investor to cancel an order that is losing money within 60 minutes, the loss will be refunded, instead the investor incurs a fee, of course the fee. This will be much lower than the loss of that failed order. Depending on the type of asset and the trading volume, the fee will vary.
- Inside Viewer: on the screen will appear a percentage between the Buy and Sell positions of all traders who are trading at the floor. This tool will assist investors in making order decisions.
- Freeze Rate: the prices of products in the forex market change constantly every second. Investors placing Market Buy or Sell orders will have a certain lag. For example, when looking at the price list of XAU / USD, the price is 1571.94 / 1572.44 and you are trying to place orders at these prices, but when you start clicking the Buy or Sell button on the screen, the price is already Start changing in just a few seconds. Therefore, the Freeze Rate feature helps you to "freeze" the price in about 3 seconds, enough for you to be able to place orders at the prices displayed on the screen.
The interface of easyMarkets Web platform
EasyMarkets platform is also used on mobile applications, very convenient
Leverage, commission and spread
Lever
The maximum leverage for trading accounts on the MT4 platform is 1: 400, while the easyMarkets Web platform only allows trading at the highest rate of 1: 200. In general, the leverage at easyMarkets is quite low, while there are many forex brokers that offer up to 1: several thousand. However, high leverage comes with great risk.
Commission
easyMarkets does not charge commission for all transactions on all 3 types of accounts. Actual commission fee has been included in the spread.
Spread
This is probably one of the few forex brokers that only offers fixed spreads for all types of accounts. Fixed or floating spreads also have certain advantages and disadvantages. You review the article What is spread? To better understand these two types of spreads.
VIP accounts have the lowest spread, to Premium accounts and finally to Standard accounts. For EUR / USD, the VIP account has a spread of 1.2 pips on the Web platform and 0.9 pips on MT4; Premium account is 1.5 pips on the Web and 1.4 pips on MT4; Standard accounts have 2.0 pips on the Web and 1.9 pips on MT4.
Spread (pip) of some major forex pairs on Standard accounts when trading on the Web platform:
With a standard account and a fixed spread like this, plus a commission free transaction, easyMarkets is able to compete with many forex brokers currently in Vietnam market.
Forms of deposit and withdrawal
easyMarkets offers many forms of deposit and withdrawal. Including wire transfer, Visa / Master cards, AstroPay card, WebMoney, electronic wallets like Neteller, Skrill, fasapay ...
Recharge
- All deposit methods are free of charge.
- The minimum deposit is 100 $.
- Processing time is usually immediate, except for bank transfers that may take 3-5 days.
Withdrawal
- There is no minimum withdrawal requirement for e-wallets, for bank transfers only a minimum of $ 50.
- Time for money to account is usually 48 hours or from 3 - 10 days depending on the bank.
- Free money withdrawal
The promotions
Currently, easyMarkets has promotions for new customers when opening trading accounts at the exchange with bonuses of up to 2,000 USD or 50% of the deposit. The conditions for joining the program are that investors only need to be new customers of easyMarkets and make the first deposit to the account with the minimum amount of USD 100.
Summary of pros and cons
Advantages
- Licensed by reputable management
- Diverse transaction products
- Diversified trading accounts, distinguishing investor segments
- Good trading platform, many new features, helping traders manage risk more effectively
- Commission-free transactions
- There are many ways to deposit, withdraw money and pay no fees
- Live chat 24/5, enthusiastic support staff
Defect
- The minimum deposit is high, while many brokers now allow investors to deposit for only $ 5, $ 10.
- Low maximum leverage ratio
- Does not offer transactions with floating spreads
- Long withdrawal time
- EasyMarkets website and Web platform do not support Vietnamese
easyMarkets is considered to be a reliable trading platform, but in Vietnam market, it is not so prominent, it is possible that the trading conditions of this exchange only meet a certain part of investors. while most traders tend to choose ECN brokers, trading with floating spreads. For new traders, if the conditions and trading platform at easyMarkets meet your investment needs, you can feel secure when opening a trading account at this exchange.
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Author: Tin Nguyen
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