The offshore-based easyMarkets forex broker offers two trading accounts. It also provides two different trading platforms to chose from, either world-famous MetaTrader and web-based platform. Both provided accounts are without commission, and with fixed spreads, also leverage level at 1:400. It also offers swap-free features on every trading account for Islamic traders. In this easyMarkets review, will take you to the journey of this broker and let you know what it has to offer. Read the full review of EasyMarkets here.
The three companies are associated with easyMarkets which are Easy Forex Trading LTD, Cyprus; EasyMarkets PTY LTD, Australia; and EF Worldwide LTD, Marshall Islands. The financial regulator CySEC and ASIC respectively regulate Cyprus and Australia based firms. However, the problem here is EF Worldwide LTD which situated on the Marshall Islands. The Marshall Islands-based forex brokers considered scams and red-flagged by several Financial Regulators.
The easyMarkets claims to focus on the client’s protection. For this, it applies many measures such as tight fixed spreads, Negative Balance Protection, and dealCancelation features. The minimum deposit required to start trade with this broker is a mere $100 and is acceptable by many traders. The spreads provided at easyMarkets fixed at one pip on Euro-USDollar fx pair. Such fixed spreads are helpful to determine the cost of trading before actual tradings.
Also, the leverage level of 1:400 offered and is competitive. Simultaneously, higher leverages bring a risk of enormous loss. Traders at easyMarkets get access to two trading platforms, one of them is advanced and simplified MetaTrader trading platform. It includes several features bundled to prove ease in trading. Also, the web-based trading platform offered has Guaranteed Stop Loss and dealCancelation feature to manage risk.
The easyMarkets also offer many promotional bonus schemes to its clients. These are up to 50% bonus on first deposit and referral bonus of up to $500. The payments at this broker can be made via cards, eWallets, bank wire, and others. The withdrawals via cards are free, but bank withdrawal charges $50. There are mixed reviews of traders on social media about easyMarkets.
Is easyMarkets scam or legit?
The easyMarkets is an offshore forex broker who has offices in three different countries. Respective financial regulators regulate Australia and Cyprus based companies. However, Marshall Islands-based third firm associated with easyMarkets is problematic. The Marshall Islands-based brokes are not trustworthy. The broker under consideration looks legit, but there are uncertainties in trading markets. The easyMarkets may be a potential Australian trading scam. Traders advised trading with this broker using their wisdom.