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easyMarkets Review

Steven Hatzakis

Written by Steven Hatzakis
Edited by John Bringans
Fact-checked by Blain Reinkensmeyer

October 13, 2022
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail CFD accounts lose money You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

easyMarkets is easy to use and offers several unique features attractive to beginners through its proprietary trading platform. However, easyMarkets is pricey, offers only a small selection of tradeable products, and lacks market research.

easyMarkets
4 Stars Overall
  • Minimum Initial Deposit: $100
  • Trust Score: 84
  • Tradeable Symbols (Total): 199

Top Takeaways for 2021

  1. Founded in 2001, easyMarkets is regulated in one tier-1 jurisdiction and one tier-2 jurisdiction, making it a safe broker (average-risk) for forex and CFDs trading.
  2. easyMarkets is best known for its proprietary web-based platform that is easy to use and offers two beginner-friendly features: dealCancellation and Freeze Rate. Low-points in the easyMarkets lineup include a lack of extensive forex market research tools, a limited offering of just 256 tradeable instruments, and a mediocre mobile app.
  3. Despite offering free guaranteed stop-loss orders (GSLO), we do not recommend the easyMarkets MetaTrader 4 (MT4) offering. With MT4, easyMarkets excludes market headlines in desktop and does not offer the browser-based version.

Overall Summary

Please Note: easyMarkets was not included in our last annual review. As a result, this broker's ratings may be outdated. Read our best forex brokers guide for a breakdown of the top rated forex and CFDs brokers.

Feature easyMarkets logoeasyMarkets
Overall Rating 4 Stars
Trust Score 84
Offering of Investments 4 Stars
Commissions & Fees 3.5 Stars
Platform & Tools 4 Stars
Research 3 Stars
Mobile Trading 4 Stars
Education 3.5 Stars

Is easyMarkets Safe?

Trust Score
84
ForexBrokers.com

easyMarkets is considered average-risk, with an overall Trust Score of 84 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 one tier-3 regulators (low trust). easyMarkets is authorised by the following tier-1 regulator: Australian Securities & Investment Commission (ASIC). Learn more about Trust Score.

Feature easyMarkets logoeasyMarkets
Year Founded 2001
Publicly Traded (Listed) No
Bank No
Tier-1 Licenses 1
Tier-2 Licenses 1
Tier-3 Licenses 1

Offering of Investments

The following table summarizes the different investment products available to easyMarkets clients.

Cryptocurrency: Cryptocurrency trading is available through CFDs, but not available through trading the underlying asset (e.g. buying Bitcoin). Note: Crypto CFDs are not available to retail traders from any broker's UK entity, nor to UK residents.

Feature easyMarkets logoeasyMarkets
Overall Rating 4 Stars
Trust Score 84
Offering of Investments 4 Stars
Commissions & Fees 3.5 Stars
Platform & Tools 4 Stars
Research 3 Stars
Mobile Trading 4 Stars
Education 3.5 Stars

Commissions and Fees

Account types: easyMarkets offers three account types for which trading costs (spreads + any commissions) vary, and spreads are fixed (not variable) across web platform, MetaTrader4 (MT4), and a VIP account.

Minimum and Spreads: The most competitive pricing easyMarkets offers is on its VIP account, which requires a $2,500 deposit ($100 for EU and UK residents), as well as its web platform, which requires a $250 deposit. Both accounts offer fixed spreads of 0.9 pips on the EUR/USD on the easyMarkets platform, as well as when using the MT4 account.

Feature easyMarkets logoeasyMarkets
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
Cryptocurrency (CFD) Yes
Disclaimers Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients).

Platforms and 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, data-namehough it will not be enough to satisfy more demanding traders.

Trading tools: Two unique tools offered through the easyMarkets platform include dealCancellation and Freeze Rate. For a small fee, the dealCancellation feature gives you a specific amount of time (up to a maximum of six hours)to have the option to undo your trade and reclaim your losses. Meanwhile, the Freeze Rate button allows you to "freeze" a quote for three seconds.

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, easyMarkets platform offer guaranteed stop-loss orders (GSLO) for free, compared to most brokers who charge a small premium.

Feature easyMarkets logoeasyMarkets
Virtual Trading (Demo) Yes
Proprietary Platform Yes
Desktop Platform (Windows) Yes
Web Platform Yes
Social Trading / Copy Trading Yes
MetaTrader 4 (MT4) Yes
MetaTrader 5 (MT5) No
DupliTrade No
ZuluTrade No
Charting - Indicators / Studies (Total) (default MT4)
Charting - Drawing Tools (Total) (default MT4)
Charting - Trade From Chart Yes
Watchlists - Total Fields 6
View More

Research

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.

Overall, despite a broad selection of features, easyMarkets’ research offering is just a touch above the bare minimum industry standard.

Feature easyMarkets logoeasyMarkets
Daily Market Commentary Yes
Forex News (Top-Tier Sources) Yes
Autochartist No
Trading Central (Recognia) Yes
Social Sentiment - Currency Pairs Yes

Mobile Trading

easyMarkets offers its 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 is powered by Trading View in the mobile app, with the same 81 indicators that the web version of the platform has. Overall, I found it to be simple and basic yet falls behind the best mobile trading apps in our review, in terms of depth of features and tools.

Feature easyMarkets logoeasyMarkets
Android App Yes
Apple iOS App Yes
Mobile Alerts - Basic Fields No
Watchlists - Total Fields 6
Watchlist Syncing Yes
Charting - Indicators / Studies (Total) (default MT4)
Charting - Drawing Tools (Total) (default MT4)
Mobile Charting - Draw Trendlines Yes
Charting - Multiple Time Frames No
Forex Calendar Yes

Customer Service

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.

Results

  • 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)

Final Thoughts

With 256 symbols to trade, including over-the-counter FX options and forwards on 28 pairs, easyMarkets offers a light multi-asset brokerage solution. Tradeable assets aside, easyMarkets does provide its proprietary trading platform, alongside MT4, which helps it stand out from other MT4-only brokers. Also, easyMarkets finished Best in Class for Beginners in 2020, thanks to its user-friendly platform interface.

MetaTrader4 is also an option at easyMarkets given no difference in pricing between the broker's web platform. That said, easyMarkets' flagship web platform and VIP accounts struggle to compete with the best forex brokers in our annual review.

About easyMarkets

easyMarkets (formerly easyForex) was founded in 2001 and is an early pioneer in offering retail forex trading. The broker 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.

2022 Review Methodology

For our 2022 Forex Broker Review we assessed, rated, and ranked 39 international forex brokers over a three-month time period resulting in over 50,000 words of published research.

Each broker was graded on 113 different variables, including our proprietary Trust Score algorithm. This innovative scoring system ranks the level of trustworthiness for each broker based on factors such as licenses, regulation and corporate structure. Read about Trust Score here.

As part of our annual review process, all brokers had the opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy.

Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors with 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. Read more on forex trading risks.

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About the Author

Steven Hatzakis
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. A forex industry expert and an active fintech and crypto researcher, Steven advises blockchain companies at the board level and holds a Series III license in the U.S. as a Commodity Trading Advisor (CTA).


John Bringans
John Bringans

John Bringans is the Senior Editor of ForexBrokers.com. An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content.


Blain Reinkensmeyer
Blain Reinkensmeyer

Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time. He heads research for all U.S.-based brokerages on StockBrokers.com and is respected by executives as the leading expert covering the online broker industry. Blain’s insights have been featured in the New York Times, Wall Street Journal, Forbes, and the Chicago Tribune, among other media outlets.


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