easyMarkets Broker Review
Table of contents
easyMarkets is a global forex broker with both ASIC and CySEC regulation. They were one of the earliest brokers in the industry to truly open up forex trading to the retail market, initially being founded as Easy-Forex back in 2001.
Since changing their name to easyMarkets in 2016, they now offer South African forex traders the flexibility to trade forex, commodities, indices and cryptocurrency CFDs on a range of trading platforms including MT4 – All with tight, fixed spreads.
You can find our comprehensive easyMarkets broker review below.
Pros / Cons
- Fixed spreads
- ASIC regulation
- Proprietary platform
- Wider spreads (fixed)
- Market maker
- No micro account
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easyMarkets have established themselves as an instantly recognisable global brand within the forex trading space.
As part of their commitment to clients to remain transparent and secure, easyMarkets have gained two essential regulatory licenses:
- CySEC (Cyprus Securities and Exchange Commission): 079/07
- ASIC (Australian Securities and Investment Commission): 246566
easyMarkets was one of the first forex brokers regulated by CySEC. As the company has expanded into the global giant, we know today, has since gained top-tier regulation from ASIC.
In compliance with regulatory guidelines, easyMarkets have a segregated account for client funds with AA rated banks, complies with strict KYC guidelines and maintains sufficient funds on hand to cover their trading risk.
easyMarkets is what’s known as a market maker.
While finding out a broker acts as a market maker is often looked at with negative connotations in the world of forex brokers, it is positive. It all depends on what you’re looking for in a broker.
When it comes to comparing market makers vs ECN/STP brokers, market makers have the advantage of fixed spreads and the ability to always receive price quotes, even through periods of extreme market volatility.
As a market maker, easyMarkets are the counterparty to all clients’ positions by offering a quote to both buy and sell.
Market makers such as easyMarkets regard all of their client’s positions as a whole, offsetting buy orders with sell orders also on their book as a hedge.
easyMarkets is a big enough broker to never individually hunt stops. If the conflict of interest still worries you, we suggest trading with an ECN forex broker instead.
Forex Trading Education
easyMarkets has a team of teachers and forex market analysts, employed to help traders no matter their experience.
Complete novices can benefit from easyMarkets’ comprehensive forex education section. The more experienced traders will find the broker’s market analysis section to be profoundly insightful.
The easyMarkets “learn centre” features the following sections.
- Trading Course: An introduction to forex trading.
- Discover Series: Forex introduction video series.
- Free eBooks: Introduction to a range of topics in PDF format.
- Knowledge Base: An extensive library of trading articles
- Trading FAQs: A comprehensive list of forex questions and answers.
easyMarkets has split their educational content into 2, with the more advanced sections within both text-based and video content, requiring a live account to access. Beginners will find their platform and website easy to navigate, overall a beginner-friendly broker.
As a customer of easyMarkets, you have several support options available to you.
We’ve listed all easyMarkets support options and the times they’re accessible, below:
- LiveChat: Available Monday – Friday, 24/5
- Email: Available Monday – Friday, 24/5
- Phone: Available Monday – Friday, 24/5
- Whatsapp: Available Monday – Friday 24/5
- Viber: Available Monday – Friday 24/5
- Facebook Messenger: Available Monday – Friday 24/5
- Social Media: Available Monday – Sunday, 24/7
If you would like a swift answer to a question you may have, your best method of support would be to access the live chat box directly from the homepage.
For more pressing matters that may need a more accessible record, such as issues on individual orders or the way a specific trade was executed, you should use email.
Deposits and Withdrawals
South African forex traders have many deposit and withdrawal methods available to them. Clients can start with their minimum deposit of USD 100 or ZAR equivalent at the time of depositing. Clients are eligible to receive up to 50% deposit bonus.
While easyMarkets have several other funding methods, those available to forex traders in South Africa are listed below:
- Credit/Debit Card: Visa, Mastercard, Maestro and American Express are all available for card deposits/withdrawals. Funds are available within your trading account instantly.
- Bank Wire Transfer: easyMarkets allows South African clients to fund their account via direct deposit from their bank.
- WebMoney: The popular online payment settlement system for USD accounts.
- Skrill: The 1st e-wallet service that easyMarkets allows account funding through is Skrill.
- Neteller: The 2nd e-wallet service available to clients of easyMarkets is through the highly popular Neteller service.
It’s worth noting that there are no deposit/withdrawal fees for any of the methods listed here, with all bar bank wire transfers seeing your funds available to trade with instantly.
As a market maker, easyMarkets have some of the most exciting trading conditions of all forex brokers we’ve reviewed.
One fundamental trading condition that sets easyMarkets apart from other forex brokers is they offer negative balance protection on all accounts as a standard feature.
Negative balance protection ensures that your trading account will never go below zero.
If you want to try out easyMarkets without funding your account straight away, then they do offer demo accounts.
Get a feel for the easyMarkets trading platform and try some new trading strategies with your new forex broker before going live.
If you’ve never traded forex with easyMarkets and you want to get a feel for how you’re able to handle all market conditions, then a demo account is the right place for you to start.
If you can’t trust easyMarkets on a demo account, then you’re not going to be able to trust them with live funds.
easyMarkets offer leverage of up to 1:400.
Their leverage offered to clients all depends on the trading platform that you’re using.
- easyMarkets Platform: 1:200
- MetaTrader 4: 1:400
If you choose to trade on the MT4 platform, then this makes easyMarkets one of only a few regulated forex brokers who are still able to offer high leverage to South African forex traders.
Spreads and Lot Sizes
easyMarkets offer fixed spreads. They list them very clearly on their website in table form for you to compare to those shown on your trading platform.
Fixed spreads are only able to be offered by market makers such as easyMarkets. They are highly helpful in working out your total trading costs because no matter what the market is doing that day, they’re always consistent.
Average Spreads on Majors
– easyMarkets Platform: 1.2
– MT4: 0.9
– easyMarkets Platform: 1.7
– MT4: 1.3
– easyMarkets Platform: 1.5
– MT4: 1.0
– easyMarkets Platform: 1.5
– MT4: 1.2
easyMarkets have 3 account types, available on 2 different trading platforms.
Find the key stats in the table below:
|Platform||easyMarkets Platform||MT4||easyMarkets Platform||MT4||easyMarkets Platform||MT4|
|EURUSD Spread||1.2 pips||0.9 pips||1.5 pips||1.4 pips||2.0 pips||1.9 pips|
|Minimum Trade Size||1.0 lots||1.0 lots||0.5 lots||0.01 lots||0.05 lots||0.01 lots|
|Minimum Deposit||USD 10,000||USD 10,000||USD 3,000||USD 3,000||USD 300||USD 300|
|Personal Account Manager||Yes||Yes||Yes||Yes||Yes||Yes|
Instead of focusing solely on the MetaQuotes suite of trading platforms, easyMarkets have invested a massive amount of time and money into the development of their proprietary trading platform.
The easyMarkets platform is primarily web-based, meaning that traders can access their account anywhere, anytime. With an accompanying mobile app, you’ll always have the forex markets and your easyMarkets trading account, at your fingertips
The three trading platforms available to easyMarkets clients are as follows:
- easyMarkets Web Platform: This is the forex broker’s proprietary trading platform. A simple and versatile platform that’s packed full of features you’re unable to find on MT4.
- MetaTrader 4: Everyone is familiar with the MetaTrader 4 platform. easyMarkets encourages clients to use their proprietary trading platform but they also offer the industry standard MT4 platform to those unwilling to change.
- easyMarkets App: The easyMarkets mobile app is available for iOS or Android. Offering the same features as the easyMarkets Web Platform, but designed specifically for the smaller mobile interface.
IB Affiliate Program
The easyMarkets affiliate program, run through their separate Forex-Affiliate domain, is one of the best in the industry.
As one of the larger Forex broker’s we’ve reviewed, easyMarkets use this size toward marketing efforts, offering affiliates some excellent looking banners and the like to use.
easyMarkets affiliates can choose from the following partnership plans, depending on what type of referral business you run:
- Spreadshare: You will receive a portion of the spread on every trade a referral places
- Lot Rebate: You will earn on every full lot that your referrals trade.
- CPA: You will earn a fixed amount for each referral.
- Hybrid (CPA+Spreadshare): A combination of the two plans above, best for mixed referrals.
easyMarkets Review Summary
Has our complete easyMarkets review helped you decide which forex broker you’re going to choose?
If you’re looking for a final kicker to convince you that easyMarkets are a quality brand, then maybe their exclusive front of shirt sponsorship with Spanish football giant Real Betis may be just that.
Real Betis and easyMarkets share a standard set of values, not to mention an influential winning culture.
Learn to trade forex using the vast educational resources at easyMarkets, and you’ll give yourself every opportunity to succeed alongside them.
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