- Company name: Blue Capital Markets Group
- Founded: 2003
- Offices: Cyprus,UK,China, Czech Republic, Australia
- Regulators: EU CySEC License No. 079/07, ASIC No.246566
- Broker type: Market Maker
- Min. Deposit: $100
- Leverage: 400:1
- Min. Spread: 1.8 pips
- Deposit/Withdrawal: Bank wire, Visa/Mastercard, Skrill , WebMoney, Neteller
- Currency pairs: 97
- Platform: MetaTrader 4, Easy Markets app on mobile
- Web based: Yes
- Mobile: Yes
- Free signals for TradeForexSA signups
- Deal cancelation
- Low $100 minimum to get all the best features
- No slippage on the web platform
- Freeze trade feature to hold pricing stable for a few seconds
- SMS mobile alerts
- Customer service has historically been slow at times but has improved in recent years with onboarding of more customer service staff and opening new offices.
- Some customers have reported having had issues depositing with some South African credit cards.
Founded in 2001, easyMarkets (then EasyForex) was one of the first online brokers. They were regulated by ASIC in 2003 and CySEC in 2007. easyMarkets states their values as: simple, honest and transparent. These values are reflected in their industry recognition, recently being awarded the Best Trading Platform and Most Transparent Broker awards in 2017 from FX Empire and Forex-Awards, respectively.
easyMarkets has always innovated, introducing tools like negative balance protection and guaranteed stop loss back in 2001 – these tools are now industry standards. Their innovation has continued with the unique Freeze Rate and dealCancellation tools, both intended to support new traders and keep trading transparent and simple. In 2018, easyMarkets won the Most Innovative Broker 2018 at the World Finance Markets Awards, a further sign that they are respected as innovators among their peers.
Is easyMarkets safe?
With numerous industry awards and recognition for their innovation (Most Innovative Broker – World Finance Markets Awards 2018), transparency (Most Transparent Broker – Forex-Awards 2017) and trading platform (Best Trading Platform – FX Empire 2017), easyMarkets are well-respected by their peers and clientele.
easyMarkets’s states their values as Simple, Honest and Transparent, and internal processes at easyMarkets reflect this approach.
- All client funds are kept in segregated accounts at top tier banks around the world. This segregation of client funds ensures that only clients have access to these funds and that they cannot be used in company operations.
- easyMarkets is frequently audited by its regulators and uses these opportunities to identify areas of potential risk in their operations, ensuring a constant improvement of internal processes.
- easyMarkets also maintains Capital Adequacy to cover all client deposits and running costs as an additional line of defence from any economic effects on the company or their portfolio of positions.
Due to robust internal processes, respected industry recognition and strong regulation from two primary international regulators, our view is that easyMarkets is safe for traders.
easyMarkets for beginners
With numerous awards for their platform and customer support, it is no surprise that easyMarkets are a favourite broker for new traders.
Unlike many other brokers, their account offerings are specifically geared towards new traders. A low 100 USD minimum deposit, a simplified proprietary trading platform, and free SMS alerts offer new traders an easy entry into Forex trading.
All of easyMarkets educational material can be found in the easyMarkets Learn Centre and is split across six sections.
- The Getting Started section is an archive of videos on the fundamentals of trading as well as an introduction to easyMarket’s features and tools.
- The Discover Series video archive goes into more depth on the different instruments available to trade on easyMarket’s platform and the history and concepts behind them.
- The Free eBooks section is a repository of 10 eBooks available to easyMarket clients – topics covered include technical analysis, trading psychology, MT4 guides and vanilla options. If you are more accustomed to learning through reading this is an invaluable resource.
- The Knowledge Base is collection of articles on topics useful to new traders.
- Economic Indicators is an excellent interactive breakdown of the various economic indicators (e.g. TIC data, PMI, etc.) and their relative effect on markets.
- Finally, a trading glossary and FAQ sections are also available to support learning.
easyMarkets also provide the standard assortment of market analysis products. These include a Market News section, customisable Trading Charts, a list of Live Currency Rates and a Financial Calendar. If a trader is using the easyMarkets proprietary platform, these can all be accessed without exiting the program.
To supplement your knowledge, market analysts also produce video commentary daily, which will give learners the chance to follow along with professionals as they do their planning.
Should traders have questions about any of the above, a global customer service team is available 24 hours a day to assist via mail, phone or live chat.
easyMarkets support a system of Negative Balance Protection, means that your account will never have a negative balance and leave you owing the broker. Also, a unique risk-free trading solution called DealCancellation is available that allows you to cancel trades that are going against you for up to 1 hour following their opening.
easyMarkets is a market-maker broker, which means that trading conditions will not be as competitive as non market-maker brokers. That said, not selecting a broker because of their business model would be unwise, as many market-makers offer additional bonuses, platforms, analysis and support that ECN and STP brokers may not. A case in point, easyMarkets offers a 20% first deposit bonus (up to 2000 USD) to traders living outside the EU.
easyMarkets sets itself apart from competitors by the number of currency pairs it has to trade. While most brokers will provide between 40-60 pairs, easyMarkets offers 97. While the additional pairs are exotic pairs and not for the day trader, these currency pairs would work well for a position trader or others holding open trades for extended periods.
easyMarkets offers a demo account and two simple live accounts – a standard account and a VIP account – which are distinguished by the amount you chose to deposit. Both account types give you access to an account manager, platform tour, education on the basics of Forex trading, access and an introduction to technical reports as well as fundamental analysis. All the services are free as a part of the account.
Demo Account – Demo Accounts are yours to use as long as you have your live account. For new registrations, the demo last ten days but can be extended upon request. Demo accounts are suitable for beginners, but also if you want to test easyMarket’s proprietary trading platform.
Standard Account – The standard account has spreads as low as 3 pips and has access to the same customer service and the above features. This account has a minimum deposit of 100 USD, but this gets you a client manager, a tour of the platform, and access to easyMarket’s educational materials on the basics of trading and technical analysis.
VIP Account – The VIP account has spreads as low as 1 pip, higher leverage, express withdrawal, an on-call analyst, SMS Updates, and 24-hour phone and chat support. The minimum deposit for this account is 2500 USD, but if you are a professional trader and will benefit from an analyst’s assistance, this is the best account for you.
Spreads and Commissions
Spreads and commission vary on between the accounts, but as with other brokers, the larger the account you hold with easyMarkets, the tighter the spreads will get. For accounts with higher deposits, the spreads can be as tight as 0.1 pips.
No additional commissions are charged on trades with easyMarkets and leverage for all accounts is limited to 1:400 unless limited by your local regulation.
Deposit & Withdrawal fees
easyMarkets takes deposits by credit cards and Neteller which instantly fund the accounts, while Skrill and bank transfer usually a few hours. Most withdrawals are executed within 24 hrs, although the system states 48hrs, and with VIP clients deposits are completed same day.
Fund transfer usually takes 1-3 business days, but in extreme cases allow up to 10 days. This length of time is standard for these kinds of transactions and will not vary much between brokers.
easyMarkets supports MT4 and the mobile suite of the MetaTrader tools, along with their propriety platform which they develop themselves.
Additionally, for traders who wish to trade from trade from a browser, easyMarkets’ web-based platform is offered.
The only real omission here is an option to use MT5 – additionally, a copy trading feature would be beneficial.
MT4 – MetaTrader4
MT4 is the most popular and customisable trading platform in the industry. If you have experience with this platform, or if you are switching broker and want to minimise setup, this could be a good option. By using MT4, be aware that you are missing out on some of the features that make easyMarkets unique.
While some of easyMarkets’ advanced trading features are unavailable on MT4, negative balance protection, free stop loss and take profit orders, and analysis and news come standard.
This is easyMarkets’ proprietary web-based trading platform. The additional trading features that set easyMarkets apart from the competition like dealCancellation, Freeze Rate, and Inside Viewer are only available with this software. More detail on these tools below.
Additional features like zero slippage, fixed spreads, and trading charts are also available free of charge.
Most of the trading tools available to easyMarket customers are only available through the easyMarket platform – the only exception being Trading Central indicators, which are only available through MT4.
The easyMarket platform offers the following tools:
- dealCancellation – unique to easyMarket, this is a tool which allows clients to cancel an order within an hour of making a trade.
- Freeze Rate – another unique tool, Freeze Rate allows you to freeze a price you see for a few seconds. Especially useful in volatile markets.
- Inside Viewer – this tool shows you what percentage of traders are buying or selling a specific instrument. A relatively standard tool now, this was first of its kind when launched in 2009.
Mobile Trading Apps
The easyMarkets mobile app has more features than the standard MT4 equivalent. It’s user-friendly, fast, easy to navigate and comes standard with all additional trading features offered on the easyMarkets desktop platform.
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the easyMarkets offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.
easyMarkets Risk Statement
Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. easyMarkets would like you to know that: CFDs and Options are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs and Options work and whether you can afford to take the high risk of losing your money. Read more here.
Easy Markets Vs. other brokers
Easy Markets Vs. AvaTrade
|Funding||Bank wire, Visa/Mastercard, Skrill , WebMoney, Neteller||Bank wire, Visa/Mastercard, Paypal|
|Regulated||EU CySEC License No. 079/07, ASIC No.246566||FSCA No.45984, ASIC, FCA, BVI, FFAJ|
|Broker Type||Market Maker||Market Maker|
|Minimum Spread||1.8 pips||0.7 pips|
|Expert Review||Read review||Read review|
|Visit Website||Visit Easy Markets||Visit AvaTrade|
Easy Markets Vs. XM
|Funding||Bank wire, Visa/Mastercard, Skrill , WebMoney, Neteller||Bank wire, Visa/Mastercard, Skrill , Neteller|
|Regulated||EU CySEC License No. 079/07, ASIC No.246566||EU CySEC License No. 120/10, UK FCA Registration No.705428, ASIC No. 443670|
|Broker Type||Market Maker||Market Maker|
|Minimum Spread||1.8 pips||0.0 pips|
|Expert Review||Read review||Read review|
|Visit Website||Visit Easy Markets||Visit XM|
easyMarkets is regulated two well-regarded international authorities, respected by their peers in the industry, and offers a unique proprietary trading platform that offers traders some unique features. Primarily a broker for those starting a trading career, there are also aspects to its products that should satisfy experienced traders, including MT4 support and an expanded currency pair and cryptocurrency offer.
While easyMarkets is a market-maker broker, here the wider spreads are warranted by the innovation, analysis and unique additional services that it offers.