Easy Forex Broker Review 2012 - Overview, Ratings, Likes, Dislikes, Comparison, Bonuses
Review and ratings of Easy Forex Trading Ltd, headquartered in Cyprus, is available here. Compare it with other FX brokers and read/share your experience.
|Active Private Traders:|
Recommendation is based purely on our own opinion, but we try to be objective as possible!
|Forex Trades Fee:||
DD - Dealing Desk, STP(MM) - Straight Through Processing/Instant Execution, STP(DMA) - Straight Through Processing/Direct Market Access, ECN - Electronic Clearing Network
|Minimal Contract Size:||
|Account Base Currencies:||
AUD, JPY, GBP, CHF, NZD, NOK, PLN, USD, CAD, EUR, SGD, ILS, CNY
Spreads are different for different account types: VIP has best spreads, than Platinuma, Gold and Mini account. Presented spreads are valid for Gold account. Please be aware that spreads may change when the world market is not active.
|Islamic (Swap-Free) Acc.:|
|Demo Account Duration:||
|U.S. Citizens Allowed:|
|Account Opening Type:||
When you register with easy-forex you are required to fax, or scan and email, your passport or ID card; a bill or statement (e.g. telephone bill, bank statement) showing your residential address; and both sides of your credit card.
|1st Deposit Bonus:|
As a demo account holder, should you choose to open a real account you will receive a 10% rebate up to $500 trading credit to get you started.
|Refer a Friend Bonus:|
|Automated Trading App:|
|Oil & Gas:|
Besides currencies you can trade Gold, Silver, Oil & other energy commodities.
|Market If Touched (MIT):|
|Trailing (Server Side):|
|Trailing (Client Side):|
|Bid/Offer (Inside Spread):|
|Free Data Feed:|
Continuous news feed from Reuters.
|Live Chat Support:|
Easy Forex Broker Review
Easy Forex is one of the best FX brokers for beginners. Their website is easy to navigate and provides all the required information.
Very Positive - Easy to use web trading platform, which doesn't require extensive learning.
Could do Better - While perfect for beginner, who know what to trade, we are missing some advanced tools and features for active traders.
Easy Forex was established in the year 2003 and this is a Forex trading website that has clients in more than a hundred and fifty countries around the world. Traders of all level and expertise are tended to by this Forex broker. It gives them reasons for coming back to the website to trade in foreign currency by providing them with personal service that are customized as per their individual needs. Also, the personalized technology offered by the company is one of the many reasons as to which it continues to be extremely popular. Easy-forex.com is a pioneer when it comes to developing Forex as a product for its customers.
Easy-forex.com offers its clients with dealing room specialists, personalized training programs, rewarding programs to traders and attractive offerings to partners. Anyone wishing to conduct business in foreign exchange with this website simply has to open an account with the company and they can trade commodities and currencies using online, smartphone or desktop platforms.
Investments Offered and Basic Conditions
There are four products offered by easy-forex.com, namely day trading, optional, forward and limit orders. The day-trading zone allows the client to opt for everyday currency rate deals. Here the deals are automatically renewed every night at 22:00 (GMT) and a daily rolling fee is charged.
If you were to trade in limit order then you will have to reserve a day trading deal to be executed when the rate you desire is currently available in the market. The website is on a constant lookout for the pre-defined rate provided by the client during the mentioned time period. In case such a rate appears in the market then the day trading deal is considered to be complete.
The website offers commission-free trading round the clock in fourteen currency pairs, the limit being USD 2 million in addition to deposits being accepted in multiple currencies. However, one should be aware of the terms and conditions and accept the inevitable risks before joining Easy Forex.
Types of Accounts
Easy-forex.com offers different types of trading accounts all of which come with different spreads and benefits. In order to choose the account that is best suited for you, you can take the help of a personalized Account Service Manager. There are four main types of accounts from which one can choose - mini account, gold account, platinum account and VIP account. As far as benefits are concerned, the VIP account holders enjoy maximum number of advantages.
While trading with this broker, the minimum first deposit of a mini account is USD 25 and the minimum margin to risk is USD 25 while the minimum deal size is USD 5000. For gold account holders, it is USD 500, USD 50,000 and USD 250 respectively. Platinum account holders have to make a minimum first deposit of USD 5000 while the minimum deal size is USD 250,000 and the minimum margin to risk is USD 1250. Lastly, the VIP account holders have to make a minimum initial deposit of USD 10,000 and the minimum deal size is USD 500,000 while the minimum margin to risk is USD 2500.
Opening an Account
The process of opening an account with easy-forex.com is very simple - on the main homepage itself you will be able to see an option titled 'Open an account' in green color which makes it very eye-catching. On clicking this option you will be taken to another page where you can begin the account registration process.
This is a three-step process and it requires the prospective account holder to provide personal details like name, email address, date of birth, country, contact number and so on. Joining Easy Forex is really simple because the individual is not obliged to make a deposit or conduct trade. Traders are also presented with the option of receiving newsletters during the registration process.
Easy Forex offers four types of software programs or trading platforms, the first amongst them being web trading and this is an online trading software wherein one can trade from anywhere in the world as long as stable internet connection is available. The next trading platform is called Trade Desk. This one is a personal trading environment which provides access to charting, Forex trading and market information. In order to use this software program you will have to download the application program for your desktop.
If you are looking for an extensive platform that provides technical analysis then you should go for Easy-Forex MT4. This would enable you to use 85 pre-installed indicators, auto trading, multiple chart setups and also engage in multiple types of orders. If you want to have a trading software or platform for your smart phone then getting the Easy-Forex app for iPhones or BlackBerry is the recommended course of action.
Trading Tools and Research
Easy-forex.com provides accessibility to trading tools which facilitate fundamental analysis and technical analysis. Not only this, the online broker also provides you access to multiple chart types, videos of live everyday news, market summary, special reports and financial calendar. You can also get insight into real time trends in the Forex world. Not only this, you can sign up for SMS alerts service which informs you about the status of your deals or sign up for other deals in the Dealing chatroom.
Now, not everybody is skilled in Forex trading to begin with and Easy Forex is very well aware of this fact. Therefore this online broker offers Forex training videos, articles, simulator, e-Books and invitations to events such as webinars and seminars. If you want then you can also enroll for a demo account which allows you to test your trading strategies under live market conditions.
It is the chatroom of the website is touted as 'award-winning'. In fact the platform offered by easy-forex.com is the winner of the esteemed Smart Investor Blue Ribbon Awards of Financial Review.
Promotions, Challenges and Bonuses
Those who wish to join easy-forex.com are liable to receive a 10% bonus on their first deposits. This is the current bonus scheme that the website provides. A maximum of USD 1000 can be availed. However, the bonus provided is meant for trading purposes only and it cannot be withdrawn from one's trading account.
What Makes Easy Forex Different?
There are many reasons that distinguish easy-forex.com from the other online Forex brokers and all these reasons are stated on the website itself under the 'Manifesto' option. The first reason citied by them is that they only care about their clients. Secondly, they make Forex trading easy and accessible for everybody. Thirdly, they make Forex trading exciting and they provide their clients with as much benefits as they can manage in today's competitive world. Not only this, the company is also known for its honest and transparency in dealing.
The customer support of Easy Forex is extremely good. The telephone numbers and fax numbers are provided for each of the worldwide locations of this company. Not only this, a list of email addresses pertaining to various departments is also given. Therefore you simply have to look up the right department or email address and send them a mail. For those who are interested, the option of live chat services is also available.
Would you like to read about what other visitors think about this Forex broker? Why don't you provide us your ratings and thoughts? Visit the Forex Broker Rating site for more.
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Written by: Goran Dolenc