EasyMarkets Demo Account Review
Have you heard of easyForex.com? Have you heard of easyMarkets.com? The latter name is actually the re-branded new look and feel of the former. After a successful ride of over twelve years as a traditional retail forex trading broker, the firm decided to transition to the easyMarkets brand to signify that it was now much more than just forex.
An industry leader and innovator, the broker opened its doors for business in 2003, but by 2013, over 100,000 active traders were using its platform and had amassed over $1.5 trillion plus in accumulated trading turnover in those initial ten years.
The firm has since broadened its product offering to include CFDs in commodities and indices, while adding forward forex contracts and vanilla options, two service offerings that you would be hard pressed to find at any other brokerage house in the retail forex trading space.
This management team has already earned a reputation for simplicity and transparency, another reason that traders across the globe have jumped onboard. easyMarkets is licensed and regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license #079/07, and in Australia, by the Australian Securities & Investments Commission (ASIC) under AFSL number 246566.
Regulatory compliance with two major agencies ensures client deposit safety and segregation in Top-Tiered banks and that order execution is quick and without slippage. There is one standard account process, but customer service assistants will also brief you on possible account upgrades that will provide access to enhanced spreads and support.
The firm provides a broad array of currency pairings from major through exotic, and, when combined with CFDs and vanilla options, one can access over 300+ market instruments on a given day.
A portion of the firm’s success comes from its innovative proprietary trading platform that includes features that you will not find elsewhere. It is a “no nonsense”, web-based type system that keeps you focused on what you need to know to be successful.
If you prefer to trade with what is familiar to you, then you can always opt for the Metatrader4 platform option of your choice, both desktop and mobile. Spreads are fixed and vary by account status and asset type.
A VIP member can avail themselves of 1.8 pip spreads for most major pairs. A Standard account starts at 3 pips, with leverage up to 400:1. Free SMS signals and alerts and Negative Balance Protection are also here for the asking, as are promotions and contests. Lastly, customer service representatives are available “24X5” to assist you in every way, while the firm’s learning and support center is both comprehensive and designed to serve every level of trader. Unfortunately, U.S. customers are not accepted at this time.
Why trade with easyMarkets.com? The firm lists these reasons:
- Founded in 2003 as easyForex and headquartered in Limassol, Cyprus;
- Additional branch offices in Sydney, London, Warsaw, and Shanghai, with operating licenses in both Europe and Australia;
- Regulated by both CySEC and ASIC;
- Numerous industry awards (see the company’s timeline for details);
- Client deposits segregated from operating capital in Top-Tier bank accounts;
- 136 major, minor, and exotic forex pairs, including spot, forward, and vanilla options;
- 300+ markets can be traded via forex, vanilla options, and CFD offerings;
- Standard trading account may be upgraded to receive lower fixed spreads (spreads can vary from 1.8 to 3 pips based on account class);
- Free Demo and Islamic account;
- Minimum Deposit = $25;
- Leverage can range by asset class up to as high as 400:1;
- Metatrader4 trading platform or firm’s proprietary web-based platform;
- Mobile applications supported;
- Free Trading Signals and SMS alerts;
- Negative Balance Protection, scalping, hedging, and Expert Advisors (EAs) are supported, as well;
- Comprehensive learning center for every level of trader, supplemented by daily market commentary and advanced charting tools;
- Customer service “24X5” via live chat, email, fax, phone, or direct contact through its global network of offices.
- Risk Free Trades with DealCancellation*
*Terms and Conditions Apply
Risk Free Trading Simulator
Learn to trade under live market conditions
Trial your strategies before you trade live
Try the easyMarkets platform with a Demo account and experience simulated trading under live market conditions. No obligations, no cost and no risk. You can trade the world’s markets, discover our trading platform and see for yourself what works with this broker.
Spreads and Leverage
Spreads and leverage vary by account class and asset type. For forex pairings, spreads are fixed as low as 1.8 pips, if you have VIP status, or 3 pips, if you do not. Leverage will vary for CFDs and other instruments, but currency trading leverage can be as high as 400:1.
The firm’s innovative proprietary trading platform is worth a look. It is totally web based, no tricky downloads necessary. It has been stripped down to the very basics, while still being augmented with unique features like “Trade Controller”, “Inside Viewer”, and “Freeze Quote”. The broker also supports the highly popular Metatrader4 product line, as well. You may employ your favorite “Expert Advisor” and enjoy swift execution without slippage or re-quotes. Mobile applications are also supported. Security and safety are assured by the company’s use of the latest in encryption technology protocols to protect both your trading activity data, as well as your personal identity information.
Deposits and Withdrawals
Deposits follow the familiar path of credit and debit cards or bank wires, but, if you prefer a local payment system to handle your money transfer needs, then the firm also supports other payment alternatives like Skrill, Neteller, WebMoney, and others. To ensure a smooth withdrawal process, be sure to keep your personal identity data, as required by international AML regulations, up to date and in order, as prescribed by the website.
Beginner's and Customer Support
Customer service representatives are available “24X5” during market hours to answer your queries and to provide guidance and instruction. They can be accessed by live chat, email, fax, or phone, but the firm has also staffed several regional offices (Limassol, London, Sydney, Warsaw, and Shanghai) to serve you, as well. The firm’s learning center includes videos, ebooks, glossary, FAQs and training articles for all levels of expertise. Daily market commentary, trading charts and tools, and an economic event calendar round out the package.
Download your own eBook for beginning Traders
The pair is currently trading at slightly lower than 1.2000 The current rally on the pair came mostly because of the Swiss National Bank. The bank officials have considered to leave the rates unchanged for a longer period than expected.
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[27/04] Major #economic #events of the Day:
- UK Gross Domestic Product, 08:30 GMT
- US Gross Domestic Product, 12:30 GMT
- US Personal Consumption Expenditure, 12:30 GMT
Visit easyMarkets Financial Calendar for more market events: https://t.co/gKuLSsMPCC https://t.co/H1rc7Az0a6
Technical Analysis [Thursday 26/04] Let’s look at the economic data for the #CRN/ #USD pair:
Corn is one of the most popular crops in the world and this year it has been one of the best performing commodities. It has gained by more than 10%.
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