Established in 2003, Easy-Forex has been providing quality Forex brokerage services to its clients for over 12 years and earned its reputation as one of the most trusted brokers in the industry.
Easy-Forex is registered company in Australia and operates under the name easyMarkets Pty Ltd (ACN 107 184 510). They are one of the handfuls of well-regulated brokers in the world and operate under the regulatory authority of the Australian Securities & Investments Commission (ASIC) and got an ASF License (246566). However, it is worth noting that Easy-Forex operates its European operations under the regulation of the Cyprus Securities and Exchange Commission (CySEC 079/07).
Most of the Forex brokers offer their trading services to retail traders who want to do speculative trading. However, Easy-Forex claims that their full range of trading enables importers, exporters, and other’s with Forex or derivatives exposure, to easily hedge their funds as well.
Moreover, its range of easy to online trading platforms like MT4 enables anyone to open and manage a Forex position with as little as US$ 25. Easy-Forex also offers market commentary and trading recommendations for beginner traders and has a good track record of helping traders who are just starting out.
Easy-Forex Review: Pros and Cons of Easy-Forex
- Easy-Forex is regulated by the Australian Securities and Investments Commission (ASIC)
- Offers fixed spreads
- Offers a very high level of leverage -400:1
- Traders can open a position with as little as US$ 25
- Guaranteed spreads are great during volatile market conditions, but it can also mean that during normal trading conditions, the spreads may be a bit higher compared to variable spread brokers
Easy-Forex Review: Trading Services
Easy-Forex use to offer three different account types for traders, Standard, Premium, and VIP accounts.
The Standard Account is designed for beginners, requires no minimum deposit and besides a few, offers almost all the features of Easy-Forex.
But, the low minimum deposit requirement comes at a price, the Standard account charges minimum 3 pips spread, where the Premium and VIP accounts offers 2.5 and 1.8 pips, respectively. In order to open a Premium account, Easy-Forex customers must deposit US$ 2,000 and to open a VIP account, they must deposit US$ 20,000.
To be honest, we found the spreads of Easy-Forex to be a bit high compared to some of the new Forex brokers who have entered the market in the last few years. But, you should understand that offering guaranteed stops and spreads, even during volatile market, would require some premium to pay, and based on that feature, the 3 pips spread on the standard account is actually pretty reasonable.
Easy-Forex currently offers over 130 trading instruments on its platforms. One of the great features of Easy-Forex is the option to start trading with a minimum deposit of US$ 25, which is perhaps the lowest among first generation of online Forex brokers.
On all three accounts, traders are offered a generous 400:1 leverage for their Australian customers, which they can reduce to 50:1 or 100:1, depending on their preference.
Easy-Forex offers free demo accounts for all accounts, which traders can use to familiarize themselves with the Easy-Forex before opening a live account.
Easy-Forex Review: Trading Platforms
Easy-Forex offers two trading platforms, the popular desktop based MetaTrader 4 and the easyMarkets, which is a cloud based platform that traders can access from anywhere using a standard modern web browser.
The standard MetaTrader 4 desktop software is a very powerful trading platform that enables traders to build custom trading strategies and indicators, as well as build their automated trading systems with the help of the built-in MQL programming language.
On the other hand, the easyMarkets platform offers a web interface and lacks some of the advanced feature sets offered by the MetaTrader 4. However, it makes up the difference by offering some additional features like the ability to trade forward deals, CFD products, etc.
On both trading platforms, Easy-Forex offers guaranteed fixed spreads, stop-loss, and take profit levels. It means, unlike other brokers, there is no reason to worry that your stop-loss will not be honored during fast moving market due to dynamic spreads.
Easy-Forex offers mobile trading service via the default MT4 app available on iOS and Android devices. They also have a BlackBerry app, which can be downloaded directly from the Blackberry App World.
Based on our research regarding the major Forex brokers around the world, we have found the speed of trade execution of Easy-Forex to be at 88 percentile rank. Which means, Easy-Forex speed of trade execution is better than 88 percent of the Forex brokers.
Easy-Forex Review: Customer Support
As a traditional Forex broker, Easy-Forex offers all the basic communication channels to reach their customer support. Customers can call their Australian desk at 1800 176 935. International customers calling from outside of Australia can also avail customer support via phone by calling a dedicated number, +61 2 9299 9466. However, their phone support desk is available during market hours, five days a week from Sunday GMT 21:00 to Friday GMT 21:00.
Besides calling Easy-Forex customer support, retail and institutional clients can also simply e-mail the Australian operation of Easy-Forex at email@example.com. Besides, phone and email support, customers can also reach Easy-Forex through live chat during business hours.
The registered address of Easy-Forex in Australia is SUITE 703 65 YORK STREET SYDNEY NSW 2000.
Easy-Forex has one of the most diversified product offerings. They currently offer 135 currency pairs to trade, where 45 pairs offer forward deals. Moreover, if you are interested in trading options, Easy-Forex also offers 50 currency pairs on vanilla option.
Easy-Forex is one of the handfuls of brokers where you will get guaranteed stops, which prevent slippage when markets are volatile. Also, their fixed spread trading environment helps to find out the cost of each transaction beforehand. If you use a money management method that risks certain percentage of the account on each trade instead of a fixed number of pips, trading with a broker that offer fixed-spreads is a must have feature.
Easy-Forex is a global broker with and operates throughout the world. One of the best things about Easy-Forex is the simplified trading environment that actually helps beginners to start trading in no time. Easy-Forex is also one of the handfuls of brokers that offer 1-on-1 training sessions to traders.