easyMarkets is easy to use and offers several unique features attractive to beginners through its proprietary trading platform. However, easyMarkets is pricey, has a small selection of tradeable products, lacks market research, and does not offer a full-featured MT4 offering.
- Founded in 2001, easyMarkets is best known for its proprietary web-based platform that is easy to use and offers two unique features for less-experienced traders: dealCancellation and Freeze Rate.
- While easyMarkets is regulated by the Australian Securities & Investment Commission (ASIC) and the Cyprus Securities & Exchange Commission (CySEC), it trails Trust leaders like IG, Saxo Bank, and CMC Markets.
- The base Standard account with easy Markets is very expensive, making it a poor choice for low-cost trading.
- Despite offering free guaranteed stop-loss orders (GSLO), we do not recommend the easyMarkets MetaTrader 4 (MT4) offering since it excludes market headlines in desktop and does not offer the browser-based version.
- Other low-points in the easyMarkets lineup include a lack of forex market research tools, a limited offering of just 175 tradeable instruments, and a mediocre mobile app experience.
|Offering of Investments|
|Commissions & Fees|
|Platform & Tools|
Is easyMarkets Safe?
easyMarkets is considered average-risk, with an overall Trust Score of 81 out of 99. easyMarkets is not publicly traded and does not operate a bank. easyMarkets is authorised by one tier-1 regulator (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). easyMarkets is authorised by the following tier-1 regulator: Australian Securities & Investment Commission (ASIC). Learn more about Trust Score.
|Publicly Traded (Listed)||No|
Offering of Investments
The following table summarizes the different investment products available to easyMarkets clients.
|Forex: Spot Trading||Yes|
|Currency Pairs (Total Forex pairs)||62|
|CFDs - Total Offered||106|
|Cryptocurrency traded as actual||No|
|Cryptocurrency traded as CFD||Yes|
Commissions & Fees
easyMarkets offers three account types for which trading costs (spreads + any commissions) vary, and spreads are fixed (not variable) across its standard account, the Standard 1 account, and the VIP account.
The most competitive pricing easyMarkets offers is on its VIP account, which requires a $2,500 deposit, as well as its Standard 1 account, which requires a $250 deposit. Both offer fixed spreads of 1 pip on the EUR/USD on the easyMarkets platform (1.8 pips in MT4).
The standard account – which can be opened with as little as $100 – has spreads of 3 pips on the EUR/USD, making it an expensive option compared to the other two account options.
|Minimum Initial Deposit||$100.00|
|Average Spread EUR/USD - Standard||1.000|
|All-in Cost EUR/USD - Active||1.000|
|Active Trader or VIP Discounts||Yes|
Platforms & Tools
easyMarkets offers two platforms, its own proprietary HTML5 web-based platform and MetaTrader 4 (MT4).
Beyond a watch list (favorites list), news, charts, sentiment indicator, and a few other tools, the easyMarkets trading platform is otherwise light. The clean and simplicity focused platform design does well in keeping users focused on trading, although it will not be enough to satisfy more demanding traders.
Two unique tools offered through the easyMarkets platform include dealCancellation, which allows you to undo your trade and reclaim your losses for a small fee, and Freeze Rate, which allows you to "freeze" a quote for three seconds (also for a small fee). Both tools appear attractive, but clearly easyMarkets advertises them for a reason, which means that overall, they must be profitable for easyMarkets. Also in support of less experienced traders, both easyMarkets platform offer guaranteed stop loss orders (GSLO) for free.
|Virtual Trading (Demo)||Yes|
|Desktop Platform (Windows)||Yes|
|Social Trading / Copy-Trading||Yes|
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||No|
|Charting - Indicators / Studies (Total)||51|
|Charting - Drawing Tools (Total)||31|
|Charting - Trade From Chart||Yes|
|Watchlists - Total Fields||7|
|Order Type - Trailing Stop||Yes|
easyMarkets integrates several research resources into its trading platforms, including a sentiment indicator, economic news calendar, streaming news headlines from FxWirePro, as well as trading signals from Trading Central for live account holders.
In addition to content from third-party providers, easyMarkets’ in-house analysts provide technical and fundamental analysis on the company’s blog with a daily Bullet report, weekly outlooks, weekly recaps, and daily news articles. Overall, despite a broad selection of features, easyMarkets’ research offering is just a touch above the minimum industry standard.
|Daily Market Commentary||Yes|
|Forex News (Top-Tier Sources)||Yes|
|Trading Central (Recognia)||Yes|
|Social Trading / Copy-Trading||Yes|
|Social Sentiment - Currency Pairs||Yes|
easyMarkets offers its own proprietary mobile app, as well as the MetaTrader 4 (MT4) mobile app.
Looking at the easyMarkets mobile app, it offers a clean design that mostly mirrors its web-based counterpart, syncing watch lists included. Charting was generally smooth, with several drawing tools, although just three indicators are supported, which is nowhere near as many as the web version. Overall, I found it to be just "ok"; it does not match up with the best mobile trading apps in our review.
|Apple iOS App||Yes|
|Trading - Forex||Yes|
|Trading - CFDs||Yes|
|Alerts - Basic Fields||Yes|
|Watch List Syncing||Yes|
|Charting - Indicators / Studies||30|
|Charting - Draw Trend Lines||Yes|
|Charting - Trend Lines Moveable||Yes|
|Charting - Multiple Time Frames||Yes|
|Charting - Drawings Autosave||No|
For our 2018 Forex Review, 129 customer service phone tests were conducted over three months. The data collected is institutional grade. On average, three questions were asked for each test. To score each test, the tests were divided into three separate groups and scores were given for the time taken to connect with each support representative and the ability of each representative to professionally (and thoroughly) answer each question. A Net Promoter Score was also given for the overall experience.
- Average Connection Time: <1 minute
- Average Net Promoter Score: 6.66 / 10
- Average Professionalism Score: 7.1 / 10
- Overall Score: 7.3 / 10
- Ranking: 10th (43 brokers)
With 175 symbols to trade, easyMarkets provides a light multi-asset brokerage solution. Tradeable assets aside, easyMarkets does offer its own proprietary trading platform, alongside MT4, which helps it stand out from other MT4 only brokers.
With a three-pip fixed spread on the EUR/USD pair, the standard account is expensive and would not be my choice at easyMarkets. That said, even with the lower costs provided through the Standard 1 and VIP accounts, easyMarkets struggles to compete with the best forex brokers in our annual review.
Founded in 2001, easyMarkets (formerly easyForex) was an early pioneer in offering retail forex trading and obtained regulatory status with the Australian Securities and Exchange Commission (ASIC) in 2005 under Easy Markets Pty Ltd, and in 2007 with the Cyprus Securities and Exchange Commission (CySEC) under Easy Forex Trading Ltd.
2019 Review Methodology
For our 2019 Forex Broker Review we assessed, rated, and ranked 28 international forex brokers over a six month time period. Each broker was graded on 81 different variables and, in total, over 60,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
"There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." Learn more.
About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.