easyMarkets Broker Review

Is easyMarkets safe?

Due to its long history of responsible behaviour, local Australian regulation, and strict internal processes, we consider easyMarkets a safe broker for Australian traders to trade with. 

ASIC Regulation: Founded in 2001, easyMarkets is headquartered in Limassol, Cyprus, and is regulated by four regulatory authorities. Australian clients are onboarded through Easy Markets Pty Ltd, regulated by the Australian Securities and Investments Commission (ASIC). 

Safety features: easyMarkets segregates all client funds at top-tier banks worldwide. This segregation of client funds ensures that only clients have access to these funds and that they cannot be used in company operations.  easyMarkets also provides traders with negative balance protection, ensuring they cannot lose more than the balance of their trading accounts.  

easyMarkets is frequently audited by its regulators and uses these opportunities to identify areas of potential risk in its operations, ensuring constant improvement of internal processes.  

Company Details:

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We confirmed the licence on ASIC register. See the licence below:

EasyMarkets’ Financial Instruments

easyMarkets offers a limited range of assets compared to other similar CFD providers but it excels in the number of currency pairs available for trading.  

Forex: easyMarkets offers 103 currency pairs for trading, more than most other Forex brokers, but ASIC regulations limit Forex leverage to 30:1.

Full List of Instruments and Leverage:

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• Forex: easyMarkets sets itself apart from competitors by the number of currency pairs it has to trade. Where most brokers will provide between 40-60 pairs, easyMarkets offers 103. While the additional pairs are exotic pairs and not for the day trader, these currency pairs would work well for a position trader or others holding open trades for extended periods. 
• Share CFDs: easyMarkets only offers trading on 50 share CFDs, which is much fewer than most other brokers. The selection available includes some of the major US, EU, AU, JA, and HK shares on the market. 
• Precious metals: easyMarkets offers an extensive range of precious metals compared to other CFD providers, with 19 precious metals available for trading. 
• Indices: easyMarkets offers trading on 15 Indices, which is very limited compared to other brokers, and only the most basic names are listed.  
• Commodities: easyMarkets offers trading on 12 commodities, including metals such as gold and silver, energies such as natural gas and oil, and softs such as cotton and wheat.  Most brokers only offer trading on between 5 – 10 commodities, so this is a decent offering.  
• Cryptocurrencies: easyMarkets offers six cryptocurrencies for trading, which is around the industry average.  

Overall, the range and depth of assets available to trade are limited compared to other similar brokers, but easyMarkets excels in its Forex offering.

Trading Fees

easyMarkets offers four different account types, with trading conditions that vary depending on the platform chosen.

Trading Fees: easyMarkets’ Accounts have lower trading fees than other similar brokers, and unlike other brokers, most of easyMarkets’ accounts have fixed spreads, which makes it easier for traders to calculate trading costs. 

Account Trading Costs:

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As you can see from the table above, easyMarkets’ trading costs are built into the spreads.

The account with the lowest ongoing trading costs on offer is the VIP MT4 account, with trading costs of 7 USD per lot of EUR/USD, which is tighter than other similar brokers.  The average cost of trading one lot of EUR/USD at similar Forex brokers tends to be 9 USD. Additionally, this account has no minimum deposit requirement, making it accessible to all traders.  

See below for account details

easyMarkets offers a demo account and four commission-free live accounts – a VIP Account for each of the trading platforms available – which are distinguished by the spread.

Leverage is up to 30:1 for Forex.  All account types give traders access to an account manager, a platform tour, education on the basics of Forex trading, and fundamental and technical analysis through TradingView.  Note that the guaranteed stop loss, freeze rate, and easyTrade tools are only available on easyMarkets’ in-house platform.   

Demo Account

For new registrations, the demo is unlimited and will never expire. Demo accounts are suitable for beginners, but also testing easyMarkets’ in-house trading platform.  Demo accounts come loaded with 10,000 USD in virtual funds, which can be topped up.  

easyMarkets Web/App and TradingView VIP Account

The minimum deposit for this account is 10,000 USD, putting it out of the reach of most traders.  Spreads are fixed at 0.8 pips (EUR/USD), which is lower than other similar brokers, and no commissions are charged for Forex trading.  VIP account-holders also have access to same-day deposits and withdrawals. 

easyMarkets Web/App and TradingView Premium Account

This account has a minimum deposit of 25 USD, making it accessible to most traders. Spreads are fixed at 1.5 pips (EUR/USD), which is wider than the industry average, but no commissions are charged for Forex trading. 

MT4 VIP Account

The MT4 VIP Account has no minimum deposit requirement, and spreads are fixed at 0.7 pips (EUR/USD), making it one of the lowest-cost accounts in the industry. However, because this account is only available on MT4, traders may experience slippage on this account, and the Guaranteed Stop Loss tool is unavailable.

MT5 Account

The MT5 Account is, as the name suggests, only available on MT5. This is the only account with variable spreads, which means that spreads fluctuate with market volume and volatility. As published on the website, spreads start at 0.6 pips (EUR/USD), which is very tight, and there are no commissions for Forex trading. Like the MT4 VIP Account, there may be slippage, and the Guaranteed Stop Loss tool is unavailable.

Professional Account

Traders can also apply for a professional trading account, which allows leverage of up to 1:200 on easymarkets’ proprietary platform, 1:400 on MT4, and up to 1:500 on MT5 for Forex trading (see the screenshot below for more details).  

Traders should be aware that they forgo some of the retail client benefits, including no Investor Compensation Fund protection.  To become a professional trader, clients must meet two of the following three requirements:

• Traders must have carried out transactions, of significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters.
• Traders should have a financial portfolio exceeding €500,000.
• Traders must have worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services.

Deposit & Withdrawal fees

easyMarkets charges low deposit and withdrawal fees compared to other similar brokers. 

A well-regulated CFD provider, easyMarkets ensures that all Anti-Money Laundering rules and regulations are followed. As such, all non-profit funds are returned to the original deposit source. No matter your deposit method, the withdrawal of all profits must be made by bank transfer to a bank account in your name.

Trading Account Currencies: easyMarkets offers trading in 19 base currencies, including EUR, CAD, CZK, JPY, NZD, SGD, CHF, MXN, GBP, AUD, PLN, TRY, CNY, HKD, NOK, SEK, ZAR, and Bitcoin-based accounts (BTC), a much broader range than other similar brokers.  

Having accounts denominated in AUD is advantageous for Australian traders, who can avoid paying currency conversion fees on deposits and withdrawals.

Non-Trading Fees: easyMarkets does not charge any deposit or withdrawal fees, but it charges an inactivity fee of 25 USD after 12 months of account dormancy.  If the account remains dormant, a fee of 25 USD will be charged every six months.  Thereafter, accounts with a zero-free balance will be closed.  These inactivity fees are around the industry average. 

Deposits and Withdrawals: easyMarkets offers many deposit and withdrawal methods, bank wire transfers, credit and debit cards, Skrill, and Neteller, as well as several regional-only options.  All deposit and withdrawal methods are commission-free. See below for processing times:

• Credit card/Debit cards (Visa, Mastercard, or Maestro): Deposits are instant, and withdrawals are processed within one day.
• Online Banking (Local Bank Transfer): Deposits and withdrawals are processed within three to five days.
• eWallets (Skrill, Neteller, Sticpay): Skrill and Neteller deposits are instant.  Withdrawals take one working day.  
• Bank Wire Transfer: Deposits and withdrawals are processed within three to five days.

Overall, easyMarkets offers a wider range of deposit and withdrawal methods than most other brokerages, and all deposits and withdrawals are free.  Additionally, easyMarkets’ processing times are around the industry average.

Mobile Trading Apps

easyMarkets offers three mobile trading apps, which is more than other similar brokers, and its in-house trading platform integrates seamlessly with TradingView. 

easyMarkets Platform 

The easyMarkets mobile app has more features than the standard MT4 and MT5 equivalents. It is intuitive, powerful, and simplified, making it suitable for beginner traders.  While the user interface looks modern and clean, it doesn’t support automated trading or allow the introduction of third-party plugins, which many traders find helpful. However, additional trading features that set easyMarkets apart from its competition, like dealCancellation, Freeze Rate, and Inside Viewer, are only available on this platform.

Additional features like zero slippage, fixed spreads, and trading charts are also available free of charge through easyMarkets’ in-house platform, and traders can choose between all the financial instruments on offer.

TradingView

TradingView is free of charge for traders who open a live account.  It is an excellent tool for researching, charting, and screening any instrument.  Additional features of easyMarkets’ TradingView tool include:

• 50+ intelligent charting tools
• Over 100,000 custom user-built indicators and scripts
• Synchronised layout for multiple charts

Traders should note that TradingView is only available on easyMarkets’ trading platform.

One drawback for traders that choose easyMarkets’ proprietary platform is that Forex traders are charged higher costs in the form of wider spreads, but using the easyMarkets’ platform is the only way to access all the products and services on offer.   

MT4 and MT5

The easyMarkets’ MT4 and MT5 apps allow traders to work from anywhere, although there is slightly limited functionality compared to the desktop versions of the platforms, with reduced timeframes and fewer charting options.  However, traders will still have access to analytics with technical indicators, graphical objects, full set of trading orders, and functionality to close and modify existing orders.

easyMarkets’ Other Trading Platforms

With MT4, MT5, and its own in-house platform all available, easyMarkets offers support for more trading platforms than most brokers. Additionally, easyMarkets’ in-house platform integrates with TradingView, adding advanced functionality.

easyMarkets supports MT4 and MT5 and the mobile suite of the MetaTrader tools, along with its proprietary platform, developed in-house.  The easyMarkets platform comes with a set of unique risk management tools that are not available on MT4 or MT5.  

MT4 and MT5

Developed by Metaquotes, MT4 and MT5 are still considered the most popular and customisable trading platforms in the industry. Although the platforms’ interfaces are dated, they are still widely recognised for their fast execution speeds, a wide range of charting tools, algorithmic trading, and customisability.  The benefit of easyMarkets offering third-party platforms such as MT4 and MT5 is that traders can take their own customised versions of the platform with them should they choose to migrate to another broker. 

However, using MT4 and MT5, traders may experience slippage, but negative balance protection is guaranteed.  Traders can also only choose between 80 financial instruments, including currencies, metals, commodities, indices, and cryptocurrencies.

easyMarkets’ Platform and TradingView

For traders who wish to trade from a browser, easyMarkets’ web-based platform is offered. We liked that the platform integrates directly with TradingView. Like the mobile trading application, the easyMarkets’ platform is user-friendly, fast, easy to navigate, and comes standard with all additional trading features offered on easyMarkets’ mobile platform.  

Opening an Account at easyMarkets

The account opening process at easyMarkets is fast, hassle-free, and fully digital.

All Australian traders are eligible to open an account at easyMarkets as long as they meet the minimum deposit requirements.

The account-opening process is quick, and accounts are usually ready for trading within a few hours.  easyMarkets offers Corporate and Individual accounts, but we will focus on opening an Individual account:

1. Prospective traders will have to click on the “Sign Up” button at the top of the page, where they will be directed to register an account with an email address and a password.
2. Traders can choose between opening a demo or a live account.
3. On choosing the live account option, traders will be directed to fill in their personal details and select the account type that suits them.  Thereafter, they will have to submit the Know Your Customer (KYC) documentation:
   1. easyMarkets requires proof of identification (including a current passport, ID card, or driver’s licence.
   2. Proof of address such as a utility bill or bank statement that is less than six months old.
4. The account will be ready for trading once documentation has been verified, which usually takes a couple of hours.
5. We advise you to read easyMarkets’ risk disclosure, customer agreement, and terms of business before you start trading. 

Overall, easyMarkets’ account opening process is efficient and hassle-free, and all documents can be uploaded digitally.

easyMarkets offers a limited range of trading tools compared to other brokers, but it provides excellent risk-management and technical analysis tools.

easyMarkets offers a number of excellent risk management tools.

One of easyMarkets’ unique selling points is the number of innovative tools it offers.  Having been the first broker to offer negative balance protection, easyMarkets now offers a number of helpful risk management tools, but these are only available on its proprietary platform.  

The easyMarkets platform offers the following tools:

• dealCancellation – unique to easyMarkets, this tool allows clients to cancel an order within six hours of making a trade.  Traders are charged a fee for using this service, which is based on the market volatility of the instrument being traded.
• Freeze Rate – another unique tool, Freeze Rate allows you to freeze a price you see for a few seconds. This tool is especially useful in volatile markets.
• Inside Viewer – this tool shows people what percentage of traders are buying or selling a specific instrument. A relatively standard tool now, this was the first of its kind when it launched in 2009.
• easyTrade – In 2018, easyMarkets launched its latest trading innovation – easyTrade. This simplified platform allows easyMarkets clients to trade without margin requirements, high leverage, and features zero spreads. It also simplifies trading to just three steps – choose your maximum risk, the duration of your trade, and decide whether the rate will go up and down. Simplified trading allows novice traders to trade without distractions or extra functions. Experienced traders benefit from the ability to place a trade quickly when markets move and use easyTrade as an effective hedging tool.  Traders should note that easyTrade is only available on 20 financial instruments.

Overall, easyMarkets offers a relatively limited suite of trading tools compared to its large international competitors, but it provides excellent risk management and technical analysis tools.

Trading Tools Overview:

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Broker

Economic Calendar

Autochartist

Trading Central

Trading View

Free VPS

easyMarkets

Yes

No

Yes

Yes

No

Fortrade

Yes

No

Yes

No

No

ACY Securities

Yes

No

No

No

No

Educational Materials

easyMarkets provides a good selection of educational materials for beginner traders, but lacks materials for more advanced traders.

easyMarkets provides an average selection of educational materials, but most of these are geared towards new traders, making it a good choice for beginners.  However, it lacks materials for advanced traders and doesn’t offer webinars or live education.  

All of the easyMarkets educational material can be found in the easyMarkets Learn Centre and is split across six sections.

• The Getting Started section is an archive of videos on the fundamentals of trading as well as an introduction to easyMarket’s features and tools.
• The Discover Series video archive goes into more depth on the different instruments available to trade on easyMarket’s platform and the history and concepts behind them.
• The Free eBooks section is a repository of 10 eBooks available to easyMarkets clients – topics covered include technical analysis, trading psychology, MT4 guides, and vanilla options. If you are more accustomed to learning through reading this is an invaluable resource.
• The Knowledge Base is a collection of articles on topics useful to new traders.
• Economic Indicators is an excellent interactive breakdown of the various economic indicators (e.g. TIC data, PMI, etc.) and their relative effect on markets.
• Finally, a trading glossary and FAQ sections are also available to support learning.

Overall, easyMarkets’ education section is helpful to get beginner traders started in their trading careers, but it would do well to add materials for more advanced traders.  

Education Overview:

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Broker

Beginner Course

Advanced Course

Well Structured Education

Education Quality

Webinars

easyMarkets

Yes

No

Yes

High

No

Fortrade

Yes

Yes

Yes

Medium

Yes

ACY Securities

Yes

No

Yes

Medium

Yes

Analysis Material

The research and market analysis materials at easyMarkets are limited compared to most other brokers. 

easyMarkets also provides a standard assortment of market analysis products, but only the blog section is curated by in-house analysts.  easyMarkets also provides Trading Charts that offer little insight, a list of live currency rates, and a basic Economic Calendar. 

On the whole, the research section lacks substance compared to other large international brokers.

Customer Support

easyMarkets’ customer support is excellent compared to other international brokers.

Support is offered 24/5 via email, live chat, messenger services, and telephone in a range of languages.

We found the customer support responsive and polite. We contacted them at all times of the day, and they were able to answer our questions to our satisfaction.

easyMarkets Regulation and Industry Recognition

Due to robust internal processes, high industry recognition, and strong regulation from two primary international regulators, we believe that easyMarkets is a trustworthy broker for Australian traders.

Regulation: easyMarkets is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), in the Republic of Seychelles by the Financial Services Authority of Seychelles “FSA,” and in the British Virgin Islands by the Financial Services Commission “FSC.” See below for a list of easyMarkets’ registered companies:

• Easy Forex Trading Ltd is regulated by CySEC, license: 079/07, which has been passported in the European Union through the MiFID Directive.
• Easy Markets Pty Ltd is regulated by ASIC license: 246566.
• EF Worldwide Limited is regulated by the FSA Seychelles, license number SD056.
• EF Worldwide Limited is regulated by the BVI FSC, license number SIBA/L/20/1135.

Awards

With numerous industry awards and recognition, it is clear that easyMarkets is well-respected by both its peers and clientele. Some of easyMarkets’ recent awards include:

• Most Trusted Forex Broker in the Middle East 2022 (End of Expo Egypt)
• Best Forex Trading Innovation 2021 (FxScouts.com)
• Best Forex Trading App 2021 (Smart Vision Investment Expo)

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the easyMarkets offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

easyMarkets Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients.  easyMarkets would like you to know that: Trade Responsibly: CFDs and Options are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. 

Overview

easyMarkets is a well-regulated non-dealing desk market maker with a large Forex offering and a unique suite of risk management tools. Support is offered for its beginner-friendly in-house platform that integrates seamlessly with TradingView, MT4, and MT5. easyMarkets has four live accounts, each linked to a different platform that caters to traders with differing experience levels.  However, while easyMarkets provides a good educational library for beginner traders, its market research section lacks substance and leaves advanced traders looking to third-party resources for more comprehensive market analysis.