Easy Forex Review
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 are considering signing up with a broker, your first task must be to check how long they have been established and whether or not they hold membership of any regulatory bodies. Most of our info comes from the firm’s website but we have checked up on some information independently. changes may occur without notice and you need to always do your due diligence before investing with any monetary service.
Easy Forex is an international broker with separate sites for traders in USA, UK, Australia and rest of the planet. The company operates as a currency market maker offering trading services to residents over 150 countries. They have been in business since 2003 and have offices in 9 nations including the States, UK and Australia.
the company’s registered address is in Cyprus, which is an affiliate of the ECU, but as forex brokers they are controlled in several different countries. They are registered with the CCFC and NFA in the States, the Cyprus securities & Exchange Commission to cover the EU, and they hold an Australian finance Services Licence with the Australian securities & Investments Commission. So this is a well established international broker.
Because of the high level of regulation in countries like the US and EU with strict fiscal services legislation, they do need explanation of identity before you can withdraw. To avoid delays when you need your money, get the bureaucracy sorted out as soon as you sign up.
All major currency pairs are offered. In addition Easy Forex permits trading on asmall low} number of commodities like oil and gold. Currency pairs and commodities can alter depending on your area, so try the web site for what is provided in your neighborhood.
Tools include the usual range of charts, a financial calendar showing upcoming business indicators, Reuters news feed, IRs and currency rates, and SMS alerts for certain events. As well as viewing your own account, you may broadly see what other traders are doing on the platform : which are the popular pairs, whether most traders are taking long or short positions, and so on.
Additionally they offer coaching in technical research via webinars, videos and live one on one training.
There is also a demo trading methodology called the Trade Simulator, so that you can become familiar with the platform and test systems. The platform may require a little getting used to if you are swapping from another broker who uses MT4. This is very different. Be certain to spend a little time in the Trade Simulator before going live.
Easy Forex make their money through the spread, with no upkeep charges and no fees on deposits or withdrawals. Current spreads are shown on the site. Spreads are reasonably high but this indicates that the spread may really be their source of revenue so they don’t have any need to trade against you as some market makers do.
Instead of charging interest, they charge a fee on day trading deals that are held over to the day after. Avoid this by not opening trades right before midnight in their time zone (GMT +2).
We have checked user feedback across the Net and it is really positive for a broker with agiant massive high} number of beginners among the client base. Easy Forex are feted particularly for their beneficial and friendly customer service, which sets them above many equivalent brokers.
One or two users have been unpleasantly shocked to receive margin calls on their visa cards. Margin calls are less commonly found in foreign exchange than in stock trading but they can happen and newbies are commonly not prepared for this. You can prevent unexpected charges if you deposit your funds by bank wire transfer. This takes longer of course, 3 to a few days is normal, but you’ll always be in a position of approving any future payments. Naturally you’ll still have guilt for a margin call and you should be using stop losses anyway to make sure that a losing trade will not even come near to threatening your entire balance, but we will be able to all make mistakes and infrequently with tiny accounts this is difficult. Using wire transfer will avoid surprises.
This is a well established and regulated foreign exchange market maker with a wide range of services and good feedback from current users. A sensible choice for day traders, particularly for newbs or those looking to move from another mini forex account broker. On the basis of this Easy Forex Review we can highly recommend Easy Forex.
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