Easy Forex ReviewFounded in 1999 by a group of bankers with years of experience in forex and international banking, Easy Forex Inc is a forex broker headquartered at Limassol, Cyprus with international offices in Chicago, London, Manila, Melbourne, Sydney, and Tel Aviv. As a global operation, the firm has licences in Australia (ASIC AFSL 246566), and the EU (CySEC 079/07). In the US Easy Forex is registered at the CFTC, and is also a member of the National Association of Futures Dealers (NFA).
Unique Features of Trading with Easy ForexAs a pioneer in the retail currency trading business, Easy Forex has implemented innovative solutions to a number of issues related to online currency trading. Their trademark Inside Viewer tool lets traders examine the positioning of Easy Forex clients, in terms of the popularity of currency pairs, open deals structure, and deal direction (buy/sell). In addition the Trade Controller tool is unique to Easy Forex, and offers traders a clear picture of profit/loss scenarios through visual displays.
Easy Forex pledges to realize stop loss orders at the exact rate specified by the client. Buy and sell orders are automated, with no delay in execution. There’s also a freeze rate facility which will either accept or refuse an entry within a few seconds, in order to ensure that connection problems do not lead to faulty trade executions.
Unlike most other brokerages, Easy Forex also facilitates accounts in 12 different base currencies (see the table below. )
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Account typesEasy Forex provides both a standard account for more experienced traders, and a mini account for beginners, apart from various other types of packages on special terms and conditions. The minimum initial deposit requirement is 200 USD, one of the lower in the industry. The minimum transaction size is 2,500 USD.
Easy Forex offers leverage options at 1:50, 1:100, 1:200; in addition to tailor-made packages for the customer. The firm offers mini accounts for new traders apart from the standard one offered for those with years of experience in forex trading.
In addition to forex, Easy Forex clients can trade gold and silver, with oil also being available to non US-based traders.
Deposits and WithdrawalsEasy Forex is very flexible about client deposits and withdrawals. Deposits are accepted via credit card, paypal or bank transfers, and no commissions, fees or spreads apply during withdrawal to a credit card account.
Trading PlatformEasy Forex offers a trading platform that grants the user 24/7 access. Trading is available from 06:00 Monday Sydney time until 17:00 Friday New York Time, covering the entire market action without restrictions. The multilanguage platform can be customized to operate in languages including English, German, Arabic, Greek, Russian, Chinese, Spanish, French, Polish and Hebrew. The trading software is web-based, and doesn’t require the download of any additional application, eliminating many security-related concerns. In addition, and in harmony with the industry-wide move toward complete automation of trade execution, Easy Forex offers its clients an online trading experience that completely eliminates the need for a dealer desk, or other intermediary.
The platform provides real time updates of the trader’s account, with slippage minimized to the maximum extent. The firm’s official policy with respect to slippage is simple and straightforward, in their words, “what you see is what you get”.
The trading software comes with the standard supporting tools including charting services, economic info and indices, and technical analysis tools, which are all implemented as part of the basic package. The economic information is supplied by the world’s most trustworthy and reputable news agency, Reuters.
To ensure 24/7, 365 days a year uninterrupted client access to the platform, Easy Forex operates server farms in both the US and the UK.
Beginner’s EducationEasy Forex offers live training by phone, guided video tours, online chat services, and a comprehensive info center to smoothen the beginner’s experience with forex trading. The support service is renowned for its professionalism and friendly attitude.
Apart from the customary demo accounts that is a standard feature of the industry nowadays, Easy Forex offers a one-on-one training scheme to accompany their demo accounts..
Security and PrivacyIn order to ensure the security and privacy of client data, Easy Forex cooperates with Verisign, one of the powerhouses of the internet security and data encryption business. Credit card clearing services are provided by Barclaycard, once again one of the most reliable firms in the financial services industry.
Easy Forex is a transparent firm audited by financial authorities of the nations where it has branches.. Internal auditing is performed by HLB Afxentiou & Partners, a worldwide organization that is a member firm of HLB International.
With a history reaching back 50 years, HLB ranks among the top 15 accounting and business advisory groups worldwide, with more than 1340 partners and 10900 staff in 450 offices.
ConclusionWe recommend Easy Forex for the user friendly nature of its trading platform, the warm attitude of its support staff, and the advantages of its account packages. Great customization opportunities, reliable servers, and trader-friendly order execution policies make Easy Forex one of the best brokerage choices for the beginning trader.
With international visibility, a sound financial structure regulated in three corners of the globe, Easy Forex is one of the more trustworthy and accountable firms in the forex industry. Established in 1999, the firm has been one of the earliest pioneers of retail currency trading, and it is also one of those that have been untainted by scandals or corruption issues. Regulated, audited, and certified, Easy Forex is there to help you avoid the headaches associated with the shady undergrowths of the retail currency trading business.
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