Best Forex Brokers:Easy Forex Review
easy-forex, founded in 2003, is a leading provider of online trading services. It is headquartered in Cyprus with offices, FX trading rooms and customer support centers in over 160 countries worldwide. easy-forex assumes the position of a market maker, with its liquidity providers being UBS (in Switzerland) and The Royal Bank of Scotland (RBS).
Choose the Best Forex Brokers Right Now!
easy-forex is licensed in Cyprus by CySEC , in Europe with MiFID and in Australia by ASIC.
Accounts
When first setting up an account with easy-forex, traders can define the type of account they wish to use according to the level of risk they are willing to take. A Standard account comes with a margin of as little as $25.
Additional account types are Premium and VIP. The type of the account will also determine the spread offered to the client, ranging from 3 pips for a standard account, 2.5 pips for Premium and 1.8 pips for VIP.
Demo accounts are available and traders can trade on mobile, desktop or online. There are free personal trainers, guaranteed stop-loss and other features similar to a real account.
easy-forex also offers trading accounts which adhere to the Islamic law (Sharia). With Islamic trading accounts, when traders extend their Day-Trading deals to the next day, no rolling fee is charged. Accordingly, the maximum duration offered for Day-Trading deals is limited (usually 1 week but it can also be shorter or longer depending on the currency pair traded).
Features
Traders can select over 175 products ranging from currencies, commodities and metals, to options, using their desktops, tablets or smartphone devices with account. easy-forex offers a wide range of Energy Commodities including WTI Crude Oil, Brent, Natural Gas, Heating oil and Gasoil. There are also several energy commodity pairs such as HEO / USD, OIL / USD and others.
There is also a wide range of agricultural commodities over and above what most brokers offer such as cocoa, corn and coffee.
Traders can take advantage of the easy-forex Trade Simulator with no obligation or risk and at no cost. The Trade Simulator lets newbie traders explore the easy-forex platform features which include the Inside Viewer that shows them the most popularly traded currency pairs or the Trade Controller that enables them to visually set their risk management strategy.
The trading simulator is a great way to sharpen trading skills or to test out some trading strategies.
Education
easy-forex provides traders with a host of educational tools. There are training videos for both beginners and advanced traders and a free Forex guide ebook that can be easily downloaded and includes basic information on trading in general as well as tips and techniques for successful Forex trading.
Forex webinars are online and accessible from anywhere in the world and seminars offer traders an opportunity to meet the easy-forex team in person and interact with traders like themselves from other areas. An additional chance to meet other traders is provided at easy-forex expos which take place periodically in many different locations. A listing of upcoming expos and other events are listed on the website.
In the ‘Further Reading’ section, members can choose from a variety of different articles on various areas of Forex trading.
Questrade Features
Bonuses/Promotions
There were several promotions going when doing this review. A 20% bonus up to $2000 was offered on a trader’s first deposit.
With the Win-Win bonus, a trader need only make a deposit of any amount. If the trade comes in as a profit, easy-forex doubles the win; if it’s a loss, the broker will cover it up to $200.
easy-forex makes option trading easy by offering $300 in risk-free trading to anyone opening an account.
Should a trader decide to become an affiliate or introducing broker with easy-forex, he/she can receive up to $600 (for online affiliates) and up to $100 lot rebate (for introducing brokers). All partners earn 10% commissions from their sub-affiliates.
There is also a Refer-a-Friend promotion where the referrer receives from $50-$500 on deposits of $200 to $5,000. The friend receives 50% of the reward.
Deposits/Withdrawals
Funding to easy-forex accounts can be done with credit cards or via bank wires. They accept 12 different currencies.
Withdrawals are done by filling out an online form. Funds are returned using the same methods as the deposit.
There are no fees or commission on deposits or withdrawals.
Customer Support
Traders can contact an easy-forex representative by telephone at the broker’s two main offices in Limassol and Sydney. Queries can be sent by email and snail mail can be sent to easy-forex at their address in the Marshall Islands. Live Chat is also available.
Commodities and Indices are traded as CFDs and settle two working days prior to the underlying exchange expiry at 12:00 GMT. The expiration of each CFD is clearly stated in the trade ticket as are open positions and MT4 Market Watch.
Options can be set to expire up to six months from initiation date. On any given day, options that expire do so at 10:00 AM New York Time.
Choose the Best Forex Brokers Right Now.
Start Your Forex Trading Journey!
Conclusion
easy-forex is a great all-around dealer in the Forex and commodity markets. The website is user-friendly and easy to navigate. The broker is well regulated and offers a host of educational features for both beginners and advanced traders.
