easyMarkets review 2021: The Ultimate Honest Review
This easyMarkets review 2021 provides an in-depth, honest look at the easyMarkets forex broker, highlighting its features, safety, and overall performance.
easyMarkets Review 2021: Top Takeaways
- Founded in 2001, easyMarkets is regulated in one Tier-1 and one Tier-2 jurisdiction, making it an average-risk broker for forex and CFD trading.
- It’s known for its user-friendly proprietary web platform, featuring unique tools like dealCancellation and Freeze Rate.
- Weaknesses include limited research tools, only 256 tradeable instruments, and a mediocre mobile app.
- We do not recommend the easyMarkets MT4 offering due to missing features like market headlines and the lack of a browser-based version.
easyMarkets Safety and Trust Score
easyMarkets is considered an average-risk broker, holding a Trust Score of 84 out of 99. It is not publicly traded and does not operate a bank. The broker is authorized by one Tier-1 regulator (high trust), one Tier-2 regulator (average trust), and one Tier-3 regulator (low trust).
The primary Tier-1 regulator for easyMarkets is the Australian Securities & Investment Commission (ASIC).
easyMarkets Licenses and Regulation
- Year Founded: 2001
- Publicly Traded: No
- Bank: No
- Tier-1 Licenses: 1
- Tier-2 Licenses: 1
- Tier-3 Licenses: 1
easyMarkets CFD Trading: Investment Offerings
The easyMarkets forex broker offers a range of investment products. While it provides CFD trading for cryptocurrencies, it does not allow trading of the underlying physical assets. Note that crypto CFDs are not available to retail traders in the UK.
Summary of Investment Products
- Forex Trading (Spot or CFDs): Yes
- Tradeable Symbols (Total): 199
- Forex Pairs (Total): 62
- U.S. Stock Trading (Non-CFD): No
- Int’l Stock Trading (Non-CFD): No
- Social Trading / Copy Trading: Yes
- Cryptocurrency (Physical): No
Commissions and Fees in easyMarkets review 2021
easyMarkets offers three account types with varying trading costs. Spreads are fixed across its web platform, MetaTrader 4 (MT4), and VIP accounts.
For competitive pricing, the VIP account requires a $2,500 deposit ($100 for EU and UK residents). The web platform account requires a $250 deposit. Both offer fixed spreads of 0.9 pips on EUR/USD, including when using the easyMarkets MT4 account.
easyMarkets Features: Platforms and Tools
easyMarkets provides two main platforms: its proprietary HTML5 web-based platform and the popular easyMarkets MT4.
The easyMarkets trading platform is clean and focuses on simplicity, ideal for beginners. It includes a watchlist, news, charts, and a sentiment indicator, though it may lack advanced tools for experienced traders.
Unique easyMarkets Trading Tools
- dealCancellation: For a small fee, this allows users to undo a trade and reclaim losses within a specific timeframe (up to six hours).
- Freeze Rate: This feature lets traders “freeze” a quote for three seconds, offering a brief window to execute trades at a desired price.
Conclusion
This easyMarkets review 2021 finds the broker suitable for beginners due to its user-friendly platform and unique features like dealCancellation. While its safety profile is average, the limited instrument offering and weaker MT4 implementation might not appeal to more advanced traders. Potential users should weigh the benefits of its proprietary tools against its fewer research options and tradeable assets.
