Easy markets (previously Easy Forex) review
Easy Markets or easyMarkets (Previous name “Easy forex”) is popular forex, stock, and commodity broker for beginner traders. It has a unique trading platform that is built to be maximally user-friendly and clean. Easy Markets has had some issues with order execution reliability and delays in the past, but it seems that they have fixed this and also improved the customer service. easyMarkets can be good for making the first steps in the currency and commodities trading world. For more advanced traders who deal with bigger trades or in longer time frames, the spreads and overnight fees could be an issue.
Here is the feature you must know about easyMarkets that separates them from the rest brokers:
Feature #1 – dealCancellation
In 2016 easyMarkets introduced a new and original feature that many traders have been dreaming about – the possibility to cancel a losing trade and have your losses returned. This allows traders to take away the fear factor of opening trades. This is especially the case during big news events when the exchange rates can fluctuate dramatically. Many brokers even disable trading on the major news events, easyMarkets says it doesn’t and with the help of dealCancellation offer a sort of insurance for their clients.
Of course, just like any other type of insurance, this feature is not free. You must pay a fee based on the current volatility of the instrument you are trading. You can see the fee right under the dealCancellation switch when opening a new trade.
How easyMarkets deal cancellation works
1. When opening a new trade you can turn on the dealCancellation switch
2. See the trades you’ve protected with dealCancellation in your open trades report – they are indicated with the shield symbol:
3. Cancel the trade within the chosen time:
The first question we had when we heard about this new feature was “What would happen if my stop loss for the trade would be hit before I cancel the deal?”. To this easyMarkets claims that they would still get the protected money back even if the stop loss gets triggered before they manage to cancel the protected trade.
- Founded: 2001
- Headquarters: Cyprus
- Regulated by: ASIC (Australia), CySEC (Cyprus), BVI, FSC.
- Minimum Deposit: $100
- EUR/USD spread: From 1 pip
- Maximum Leverage: 1:400
- Money Withdrawal: 3-5 working days
- Commissions: No* (Earning from the spread)
- Payment options: Credit/Debit Card, Bank Wire, Skrill, Neteller, Webmoney
- Withdrawal options: Credit/Debit Card, Bank Wire, Skrill, Neteller, Webmoney
- Contacts: [email protected], Warsaw Tel: +48 22 628 4102, Cyprus Tel: +357 25 828 899
* Fees may apply for holding positions overnight and over-weekend
- dealCancellation – undo your losing trades within 1, 3 and 6 hours
- Fast and easy to start with a fast sign up process
- Friendly user interface
- Good training, analysis, and technical materials.
- Relatively high spreads.