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Easy Forex Review

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About it

With over twenty years experience, Easy Forex set a rhythm for other brokers in the Forex industry around the world. Whilst they have been out of the picture in the past few years, the recent fierce competition between new Forex brokers had a positive effect on Easy Forex, for it showed what they are made of. They are certainly a well established, safe and respected Forex broker, offering trading services in a variety of financial instruments from over 150 countries worldwide and from a single account.

Established on the island of Cyprus, they are regulated by CySEC and by the ASIC in Australia. They also fall under the Market in Financial Instruments Directive (MiFID) in Europe, which is intended to provide a harmonized regulation for investment services across the 31 member states of the European Economic Area. Through their platforms, clients can trade over 300 financial instrument, including Forex, energy, commodities, precious metals, indices and options. Simply impressive!

Review Overview

Compliance to Different Authorities
Speed and Ease of Procedures
Platform Execution
Technology and Facilities
Client Support and Offers

Recommended

Regardless of any review, they are one of the oldest most successful brokers in the FX industry.

How do they help me learn?

Easy Forex promises exactly what their name implies, easy Forex trading with them. They offer a wide range of educational tools to ensure the trader has the support needed to start trading with them. These tools are:

  • Demo Account and Account Managers – Clients can practice Forex trading before committing money. Account managers are available in case of technical difficulties, platform use or account opening queries.
  • Training Videos – Easy Forex offers access to a range of forty videos which starts from basic Forex subjects and then move on to advanced ones. They cover Getting Started, Reading Charts and How to Use Technical and Fundamental Analysis among other topics.
  • Seminars, Webinars and Expos – Easy Forex’s presence in the sector is evident at every turn. It hosts seminars and attend expos in cities all over the world. There, clients can hear the company’s experts talk about their experiences, sharing a trading strategy or just updating guests about new technologies and practices in the Forex industry. Easy Forex also present a lot of webinars where it gives the chance to it’s clients to meet the team and learn from them. Dates of all these events can only be accessed when registering for a demo account with Easy Forex.
  • Forex Articles and Ebook– If you prefer reading material about Forex and how to trade, the company’s Forex articles and ebook mirror the quality of the training videos. They provide a comprehensive written introduction to trading Forex.
  • Daily Reports and News – Using a variety of in house and external news sources including Reuters and MNI, which keeps Easy Forex‘s clients up to date with fundamental and technical analysis.
  • SMS Alerts – A classic that has disappeared from other brokers’ navigation bars; these messages will brief the client about the market and economic releases. It works as well as a tool to notify the client when the price of a currency or commodity chosen is reached and when limit order is filled or executed.

How is the client support service in general?

Easy Forex promise good customer support which is available via email, telephone and live chat. Response times were below 24 hours, answers were adequate through the live chat and the staff were knowledgeable, friendly and multilingual.

What does the industry say?

There are some comments in other Forex related websites urging caution when dealing with Easy Forex because of the fine CySEC imposed on Easy Forex in 2010. Clients should note that the fine was laid over because of the wording and font size of an advertisement, not for any financial wrongdoing. Negative reviews are normal and expected when they are about a broker that is as old as Easy Forex, especially in consideration of the high number of trades the company managed and still does.
Easy Forex won a number of awards in the past, among them the Best Forex Education and the Best Online Broker. However, there isn’t any list of awards won in the past on Easy Forex’s website, simply because it has been around long enough to know that it should not brag about trophies won in expos, rather its actual service and trading conditions, which they speak for themselves.

How safe is my money?

Easy Forex is registered with and regulated by CySEC, which has taken action against it in the past only to prove that internal policies of Easy Forex, funds, trading accounts and practices are just fine, CySEC rather had a problem with Easy Forex’s advertisements styling.
It also falls under the MiFID in Europe and is regulated by the ASIC in Australia. Clients’ funds are held separately in respected banks around the world.

What platforms does Easy Forex offer?

Easy Forex offers the basic trading platforms. It offers the Web Trading Platform to allow clients access their trading account regardless what kind of device is used and without having to download any software. Easy Forex also offers the market’s standard, MT4, and finally, the iPhone trading platform.
Easy Forex offers a few useful tools for its clients, such as the Trade Controller, which is a precision graphing instrument that allows the trader check different profit scenarios, but what is impressive and innovative is the Inside Viewer which allows clients see real-time trades and trends based on what Easy Forex‘s clients are trading. The company also provides the Trade Simulator, a very useful tool available to live accounts. It is a way of testing strategies or Expert Advisors before actually executing any trade.

What about its trading conditions?

There are no margin requirements on many of its accounts, which clearly proves Easy Forex‘s maturity and competitiveness. Leverage varies depending on the type of account, Standard, Premium and VIP, starting from 1:50 up to 1:200.
Islamic Sharia compliant accounts are offered by Easy Forex due to its huge clients base in Arabic and Muslim countries.
Easy Forex also guarantees stop orders at all times, which is an important feature that shows the technological advancement Easy Forex utilize. Expert Advisors are compatible with the company’s MT4 based platform.

How much will it cost me?

Spreads are fixed on Easy Forex’s platforms, starting from 3 pips for the EUR/USD on the standard account, but goes down to 1.8 on their VIP account, which has a minimum deposit requirement of 20,000 USD.
Funds can be accepted from a variety of sources including bank wires, credit cards and ewallets. Withdrawals are usually processed on the same business day and here is no fee applicable on deposits nor withdrawals of funds.

Any special deals?

There’s a 20% bonus up to $2000 on new accounts’ deposits, which will be credited after the client deposit the funds. The company also promises to double clients profits or cover losses up to $200 on the first trade. Very nice!

The bottom line

What traders want is to be able to trade without fuss, safely, to have good support, education and be able to withdraw profits when they want it. Easy Forex definitely presents all that and much more when trade with it a live account.
Easy Forex has done all it can to simplify Forex trading for the novice trader, as well as servicing the experienced trader properly. It is well represented across the world and offers a good and exciting package of tools and financial instruments to trade. Balancing themselves between simplicity and creative, innovative but yet a classic broker, it is one of the best out there for any type of Forex trader.

Do you like this broker?

If you like this broker and want to open a live account, send us a request by filling the form below and we will reimburse you the full rebate generated from your trading.

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About Razi Hammoudeh

Razi’s professional experience was gained over the course of more than a decade working with leading Forex market makers in the Middle East, Asia and Europe where he learned about trading, financial instruments and global markets. Being exposed to the wide range of skills he acquired along the years, he continued to develop his trading strategies and further improving his track record in Forex trading. He used innovative business development strategies to find FXLORDS, helping it to rapidly become a major provider of education and trading tools to the successful trader. He is an enthusiastic individual, motivated by challenge and renowned for pushing the limits, always looking to gain some more experience and help as much as possible along the way.

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