easyMarkets is a traditional Forex CFD broker, but they also have an options trading platform as well. easyMarkets is located in Cyprus and was founded in 2003. Their main office is based in Limassol and they have satellite offices in Shanghai, Poland, the UK and Australia. The firm holds a number of licenses such as the ASIC, CFTC and CySEC. They support many languages; they have a support Email and they also allow you to do trading over the phone.
EasyMarkets is a “market maker” type of broker. The minimum deposit is $25 while the maximum leverage available is 1: 400. They offer managed accounts and a 50,000-dollar demo account. The cash out is generally processed every 48 hours and they don’t accept traders from the US. They only have 2 withdrawal options and these are via wire transfer and credit cards. As for deposit options, they offer PayPal, Wire Transfer, Visa, MasterCard, and Diner’s Club.
They do offer a bonus, it’s a 1st Deposit Bonus of 20% up to $2,000. However, this bonus is for trading purposes only and cannot be withdrawn. So, if you opened an account with $100, you will be credited with a $20 cash.
They also have an options bonus for their options trading platform, which is a bit more interesting; it’s a $300 risk-free promo. This is for anyone who has made a deposit for the first time using their options platform. EasyMarkets will refund any losing trades for the first five option trades.
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The Meta Trader 4 software and Web Trading are the two main platforms offered by easyMarkets. To execute a trade, you can log in using any computer, and you don’t need to install anything to your laptops and PCs. easyMarkets also has other trading platforms and these are options trading and the MT4 mobile for iPhones and Blackberry phones. There’s the trading desk where you can actually call them on the phone to execute trades.
Some of the available features are hedging, trailing stops, stop loss, and limit orders. They don’t offer fills and interest on margin. They also offer One Click Execution and OCO orders. The instruments that you can actually trade are commodities, CFDs, Forex and Options.
The firm wants to ensure that the transfer of client data are safe and that there is privacy when it comes to client information. This is why EasyMarkets is utilizing the expertise of Verisign, a leader in domain names and internet security. Client data are protected through the use of the socket layer technology.
The UI or User Interface
When you first log in or if you have a demo account, you basically have four tabs at the top of the user interface, one being currencies or forex, commodities that they have available to trade and indices. Basically, if you want to trade any particular asset, you go to the table on the left, then you go to the sell or buy prices section, at the center of the UI, you can put in your stop loss figures. There’s a margin that you’re willing to risk and the amount that you wish to trade. You will also find the current rate and also the trade now button that executes the trade.
There’s also the Limit Order section. This is a day trading deal that would automatically materialize once the market rate reaches the rate limit you defined. There’s an SMS alert feature that allows you to enjoy the benefits of SMS alerts for currency rates, deal closures and limit captures.
Some advantages of easyMarkets were already mentioned but here are some of its unique features.
To avoid any errors when there is an internet connectivity issue, their trading platform has a freeze rate feature. An order can be canceled, unless the execution is done within a few seconds.
The UI offers two unique tools and they are the Trade Controller and the Inside Viewer. You are allowed to look at the positioning of fellow traders using the Inside Viewer tool. With the Trade Controller, you can see the different profit/loss scenarios in the UI.
easyMarkets and some forex brokers that are based outside the US do not accept American traders.
easyMarkets is known for being an all-around dealer when it comes to commodities and Forex markets. The firm has been around for about a decade and is considered as one of the major players in the industry. They are regulated in most parts of the world by trusted international institutions. Their main platform, the MT4, is an industry standard trading software that is commonly used worldwide. They value the safety of their clients’ data and that is why easyMarkets always makes sure that their security systems are up-to-date.
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