Is easyMarkets Legit

easyMarkets provides a secure trading experience by upholding stringent regulatory standards and operating through multiple regulated entities within its established jurisdiction. This commitment to compliance ensures that clients can trust the platform's legitimacy and reliability. However, when deciding whether or not to engage with easyMarkets, it is important to consider various additional factors beyond its regulatory status.

By considering additional factors alongside easyMarkets' regulatory standards, you can make a well-informed decision about whether or not to engage with the company. Thorough research and due diligence are essential when choosing a forex broker to ensure it aligns with your specific requirements and objectives.

Company Profile

easyMarkets emerged in 2001, founded by a trio of seasoned institutional traders. Originally known as Easy Forex, the company swiftly made its mark as one of the early pioneers in the online trading industry, introducing the novel concept of credit card funding and convenient online trading solutions.

As the company gained traction and popularity, its client base expanded exponentially, prompting Easy Forex to broaden its product range to cater to the growing demands. In addition to its initial focus on Forex trading, the company ventured into offering Contract for Difference (CFD) products, encompassing diverse financial instruments such as indices, metals, commodities, and oil.

To signify this evolution and to accurately reflect its extended array of offerings, Easy Forex underwent a rebranding process and emerged as easyMarkets. The new name not only encompassed the comprehensive range of products available but also signaled the company's commitment to ongoing innovation and pioneering advancements in the industry.

Among the notable innovations introduced by easyMarkets was the introduction of dealCancellation, a unique tool that allowed traders to undo losing trades within a specified timeframe, mitigating potential losses. Additionally, easyMarkets launched easyTrade, an innovative product designed to simplify and streamline the trading process, enabling users to initiate trades with predefined risk parameters.

Pros and Cons

easyMarkets offers a seamless account opening process, ensuring a hassle-free start to your trading journey. With a diverse range of available instruments, traders have the flexibility to trade various financial products that align with your investment goals. The platform also provides comprehensive educational resources and research tools, empowering you with the knowledge and insights needed to make informed trading decisions. Additionally, easyMarkets offers a selection of user-friendly trading platforms to cater to individual preferences.

When it comes to fees and spreads, easyMarkets maintains competitive rates that are generally in line with the industry average, ensuring a fair trading environment. The minimum deposit requirement set by the broker is also in line with industry standards, making it accessible to a wide range of traders. Furthermore, easyMarkets distinguishes itself by providing a proprietary trading platform, offering unique features and functionalities to enhance your trading experience.

easyMarkets Pros and Cons

While easyMarkets boasts many strengths, it's important to consider a few areas for improvement. The broker does not offer round-the-clock customer support, which can be a drawback for traders who require immediate assistance outside of regular business hours. Additionally, easyMarkets does not cater to clients from the United States and over 20 other countries, limiting its accessibility in certain regions. It's worth noting that the broker's conditions may also vary depending on the specific entity you are trading with, so it's essential to review and understand the terms and conditions relevant to your jurisdiction.

Overall, easyMarkets presents a compelling option for traders, providing a user-friendly platform, a diverse range of instruments, valuable educational resources, and competitive fees. While there are some limitations to consider, the broker's commitment to delivering a seamless trading experience and ongoing improvements positions it as a reputable choice within the industry.

Awards

easyMarkets stands out as a renowned broker, recognized for its exceptional performance through numerous prestigious accolades received in recent years. Notable among these commendations are the esteemed title of "Best Fixed Spread Broker" in 2022, as well as back-to-back victories for "Best Forex Trading Innovation" in both 2021 and 2020. These significant acknowledgments are a testament to easyMarkets' dedication to pioneering advancements within the forex trading industry.

Moreover, easyMarkets goes beyond its exceptional services by organizing captivating competitions and events, designed to reward and inspire traders. Such endeavors exemplify easyMarkets' unwavering commitment to fostering a dynamic trading environment, where innovation and achievement are celebrated.

easyMarkets' remarkable track record of industry recognition and its unwavering support for traders through captivating events and competitions truly highlight its commitment to delivering cutting-edge trading solutions and acknowledging the successes of its valued clientele.

Is easyMarkets regulated?

easyMarkets prioritizes regulatory compliance and operates under the supervision of esteemed regulatory bodies. The company upholds stringent standards by obtaining licenses from multiple top-tier regulators across various jurisdictions. In Cyprus, easyMarkets is licensed and regulated by the Cyprus Securities & Exchange Commission (CySEC) under the license number 079/07. This license has been passported within the European Union through the MiFID Directive, ensuring adherence to EU regulations.

In Australia, easyMarkets is licensed and regulated by the Australian Securities and Investments Commission (ASIC) under the AFS license number 246566. This endorsement signifies the company's commitment to regulatory compliance and transparency within the Australian financial market.

Furthermore, easyMarkets has expanded its regulatory reach by acquiring new licenses from the Seychelles Financial Services Authority (FSA) and the British Virgin Islands Financial Services Commission (FSC). Under these licenses, easyMarkets and its subsidiaries, EF Worldwide Ltd, operate in the Republic of Seychelles and the British Virgin Islands, respectively. The license numbers SD056 (FSA) and SIBA/L/20/1135 (FSC) authenticate easyMarkets' compliance with the regulatory frameworks of these jurisdictions.

Account types

easyMarkets presents a range of account options tailored to suit diverse trading needs, comprising VIP Accounts, Premium Accounts, and Standard Accounts.

VIP Accounts:

With a minimum deposit requirement starting at $10,000, this account type allows for minimum positions of 1 lot. VIP Accounts offer fixed spreads and permit hedging, scalping, and expert advisors. Additionally, traders can enjoy the convenience of mobile trading, enabling them to stay connected and make informed decisions on the go.

Standard Accounts:

Standard Accounts require a minimum deposit starting from $100. With minimum positions set at 0.01 lot, Standard Accounts also provide fixed spreads and permit hedging, scalping, and expert advisors. Just like VIP Accounts, Standard Accounts offer the convenience of mobile trading, enabling traders to access the markets from anywhere at any time.

Premium Accounts:

With a minimum deposit requirement of $2,000 and a minimum position size of 0.01 lot, Premium Accounts cater to traders seeking a balance between accessibility and advanced features. While expert advisors and scalping are not available for Premium Accounts, traders can still benefit from a range of features such as mobile trading, trailing stops, pending orders, one-click trading, and auto trading.

Trading Platforms

easyMarkets presents a range of robust trading platforms to cater to the diverse needs of traders. The available options include MetaTrader 4 (MT4), the easyMarkets Web Platform, and MetaTrader 5 (MT5).

The MT4 trading platform offered by easyMarkets, although a basic version, remains a popular choice among traders. It should be noted, however, that the platform lacks certain critical third-party plugins that are essential for unlocking its full functionality. Despite this limitation, MT4 continues to be a reliable option for traders on the easyMarkets platform.

One significant difference between the easyMarkets MT4 and MT5 platforms lies in the spread. While the MT4 platform only offers fixed spreads, the MT5 platform provides variable spreads. This means that the spread you encounter on the MT5 platform will vary depending on the prevailing market conditions.

The easyMarkets platform is designed to be user-friendly and versatile, catering to both new and experienced traders. It offers a plethora of features that accommodate the diverse needs of its users. Traders can benefit from easyMarkets' free guaranteed stop loss, fixed spreads, no slippage, and no funding or withdrawal fees. These features ensure a seamless trading experience and provide peace of mind for traders.

An additional advantage offered by easyMarkets is integration with popular third-party platforms like TradingView. This integration empowers traders with access to additional market insights and analysis tools, enhancing their trading strategies. By combining the features of the easyMarkets platform with the advanced capabilities of TradingView, traders can enjoy a comprehensive and efficient trading experience.

Customer Support

easyMarkets offers various channels through which customers can seek assistance, including phone support, email communication, live chat functionality, and integration with various messenger apps.

While specific support hours are not explicitly mentioned, it can be assumed that easyMarkets operates during regular business hours. This ensures that customers can expect timely responses and assistance during typical working hours.

Overall, easyMarkets strives to provide comprehensive and reliable customer support through various channels, maintaining a strong presence across traditional communication methods as well as social media platforms. By offering multiple avenues for contact, easyMarkets aims to meet the diverse needs of its customers and ensure a satisfactory trading experience.

Conclusion

easyMarkets stands out as a brokerage company with a rich operational history, known for its commitment to providing fair and transparent trading conditions, despite a few minor drawbacks. Upon careful evaluation, we can confidently affirm that easyMarkets is a trustworthy platform that offers favorable trading conditions and is dedicated to expanding its range of offerings.