easyMarkets Broker Review – Forex Trading Platform | TradeForex

easyMarkets Basics

🏛️ Based in	Limassol, Cyprus
⚖️ Regulation	CySEC, FSA
💰 Minimum Deposit	$5 (2000 Naira)
💳 Deposit Options	VISA, MasterCard, Bank Wire, Skrill, Neteller, or Webmoney.
💳 Withdrawal Options	VISA, MasterCard, Bank Wire, Skrill, Neteller, or Webmoney.
📌Open an account	Start Trading with easyMarkets

Our Opinion About easyMarkets

easyMarkets is an established forex broker that has been offering online trading services to clients worldwide for many years now. They are registered with several reputable financial authorities, including ASIC and CySEC.  As such, they are a regulated company, offering a secure online trading environment, and a high level of client fund protection

easyMarkets offers excellent trading conditions and transparent pricing. They have 170+ trading instruments including forex,  shares, indices, cryptos, and commodities. They broker also has a nice range of trading accounts. There are 3 different account types – all of which have low commissions, good spreads, and fast trade execution. They also have two of the top online trading platforms in the industry – MetaTrader4 and MetaTrader5.

If you’re looking for great trading support, then easyMarkets could be a good option. They have a wide range of trading tools, including their unique dealCancellation service. They also have a nice range of trading resources including market news, market analysis, and free learning materials. And if you’re looking for great customer service then you’ll be pleased to know that easyMarkets also has multilingual customer support.

Key Benefits

Regulation And Safety

easyMarkets is a regulated broker. The easyMarkets Group consists of four companies, both operating under the same trade name. While this setup might seem complicated, it is what allows easyMarkets to register with multiple financial authorities, and to offer a better service to traders worldwide. Here are the details of the licences and registrations:

• Australian Financial Services (No. 246566).
• Cyprus Securities & Exchange Commission (No. 079/07)
• Financial Services Authority of Seychelles (No. SD056)
• Financial Services Commission (No. SIBA/L/20/1135).

Regulation In Nigeria

Nigerian traders can open a trading account under the EF Worldwide subsidiary, which is regulated by the British Virgin Islands FSC. As an FSC-regulated entity, this particular subsidiary operates with slightly less regulatory oversight than the others. However, easyMarkets is a very reliable brand and they implement client fund safety protocols across all their subsidiaries.

Fund Safety

easyMarkets takes client fund safety seriously. It keeps client funds separate from its own operational funds, in segregated accounts, meaning that it cannot use client money for business purposes. This is especially important for traders who only want to open trading accounts with reliable providers. It also provides clients with negative balance protection, meaning that it cannot allow its traders’ balances to fall below zero. This is especially important for traders who are still learning about risk management.

Trading Awards

easyMarkets is a reputable forex broker. Its most recent awards include:

• Best Cryptocurrency Innovation UAE 2022 – Finance Derivative Magazine
• Most Trusted Broker 2022 – Smart Vision Investment Expo Egypt
• Most Reputable Multi-Asset Broker 2022 – Forex Expo Dubai
• Most Trusted Forex Broker in Middle East 2022 – Fin Expo Egypt 2022
• Best Forex Trading Innovation 2022 – FxScouts.com

easyMarkets: Legit or Scam?

easyMarkets is a legit forex broker. They have been providing trading services for several years and have a global client base. They are registered with a well-known financial authority, apply good client fund safety measures, and have won awards for their trading services. In terms of their products, they offer good account options, low trading costs, and a nice choice of trading instruments. They also have a decent range of payment methods. In our opinion, they are a legit CFD broker.

easyMarkets Trading Assets

easyMarkets has a wide range of trading instruments including forex pairs, indices, oil, gas, metals, agricultural commodities, and cryptocurrencies.

Trading Instruments

• Forex: They have 100+ instruments, including major, minor, and exotic pairs.
• Share CFDs: They have 50 share CFDs for major US, EU, and AU companies.
• Precious metals: They have 19 precious metal CFDs including platinum.
• Indices: They have 15 indices CFDs for major UK, US, and EU markets.
• Commodities: They have 12 commodities including metals, energies, and cotton.
• Cryptocurrencies: They have 6 cryptocurrencies including Bitcoin

Account Types

As part of our easyMarkets broker review, we took a look at their account types. easyMarkets has three main account options:  the Standard Account, Premium Account, and the VIP Account.

Standard Account (WebTrader)

This is their beginner trading account. As such, it is a great choice for traders with no experience. It comes with an average spread of 1.8 pips and there are no commissions. It also comes with high leverage of up to 1:500. The easyMarkets minimum deposit for this account is $25 and the base currency is USD.

Standard Account (MT4)

This is their beginner trading account. As such, it is a great choice for new traders with little experience. It comes with an average spread of 1.7 pips and there are no commissions. It also comes with high leverage of up to 1:500. The easyMarkets minimum deposit for this account is $25 and the base currency is USD.

Premium Account (WebTrader)

This is their intermediate trading account. As such, it is a great choice for traders with some experience. It comes with an average spread of 1.5 pips and there are no commissions. It also comes with high leverage of up to 1:500. The easyMarkets minimum deposit for this account is $2000 and the base currency is USD.

Premium Account (MT4)

This is their intermediate trading account. As such, it is a great choice for traders with slightly more experience. It comes with an average spread of 1.2 pips and there are no commissions. It also comes with high leverage of up to 1:500. The easyMarkets minimum deposit for this account is $2000 and the base currency is USD.

VIP Account (WebTrader)

This is their expert trading account. As such, it is a great choice for traders with ample trading experience. It comes with an average spread of 0.8 pips and there are no commissions. It also comes with high leverage of up to 1:500. The easyMarkets minimum deposit for this account is $10000 and the base currency is USD.

VIP Account (MT4)

This is their expert trading account. As such, it is a great choice for traders with extensive trading experience. It comes with an average spread of 0.7 pips and there are no commissions. It also comes with high leverage of up to 1:500. The easyMarkets minimum deposit for this account is $10000 and the base currency is USD.

Leverage

easyMarkets have variable leverage. For example, you can get 1:20 on stocks and cryptocurrencies, 1:100 on indices and commodities, and 1:500 on forex and metals.

Spreads

easyMarkets has tight spreads. The spread available depends on what account type you choose. For example, you can get spreads from 0.8 pips on EUR/USD on the VIP account, and from 1.5 pips on EUR/USD on the Premium account.

easyMarkets Registration – How To Open A Trading Account

As part of our easyMarkets broker review, we looked at their online registration process. If you live in Nigeria, then you can open a trading account under the FSC-registered business entity. Signing up is easy. To get started, you need to go to their website, complete the form, and choose your preferred login details. Next, you need to take a quick test. This is so that they can see how much you know about online trading, and decide if their services are suitable for you. Lastly, you need to complete the KYC process, submit your documents, and choose your account type.

easyMarkets Registration – How To Verify A Trading Account

As part of our easyMarkets broker review, we looked at their account verification process. You need to send easyMarkets proof of ID. This means giving them a clear copy of your driver’s licence, your national ID card or your passport. You also need to provide the company with proof of address. This means giving them a clear copy of a recent utility bill, bank statement or any other local authority bill. Your proof of address must include your full name and address, and have been issued within the last 6 months.

Deposits & Withdrawals

easyMarkets offers a convenient payment methods. You can make easyMarkets deposits via debit card, credit card, or bank transfer. Or, you can fund your account using an e-wallet such as Skrill, Neteller, or Webmoney. You can also make easyMarkets withdrawals using any of these payment methods.

Trading Platforms

easyMarkets has the MetaTrader4 trading platform. MetaTrader4 (MT4) is a popular online trading platform for beginner traders in Nigeria. It has a very user-friendly interface and comes with many handy, built-in trading tools. You can use it to trade all of the most popular and liquid trading instruments including forex, stocks, and indices. The easyMarkets MT4 platform has helpful charting tools, 4 order execution types, 30 technical indicators, and 23 analytical objects. The trading conditions available on the platform vary depending on the account type you choose.

easyMarkets also has the MetaTrader5 trading platform. MetaTrader5 (MT5) is another trading platform for new forex traders in Nigeria. It has an easy-to-use interface and comes with lots of helpful trading tools. You access and trade all of your favourite markets including forex, shares, and crypto. It is very easy to navigate. The easyMarkets MT5 trading platform also has many great features including 6 order execution types, 38 indicators, and 37 analytical objects. As with MT4, the trading conditions available on the MT5 platform vary depending on the account type you choose.

Trading Tools

easyMarkets has several unique trading tools, including easyTrade and Freeze rate tools. The easyTrade tool helps you plan your trades and lets you set a maximum amount of risk for each position. As such, it helps you better understand your market exposure and limit your potential losses. Meanwhile, the Freeze Rate tool lets you freeze the price you see and gives you a buffer of a few seconds to perform your trade. As such, it helps you better manage your trades during times of high market volatility.

dealCancellation

easyMarkets offer their clients a very helpful feature on their platform called dealCancellation. This tool gives clients the ability to cancel trades and save investments, and here’s how it works:

1. When you open a trade, click on the green shield icon to turn on dealCancellation for that trade.
2. In your Open Trades report, you will see a list of all trades.
3. Trades with the dealCancellation feature enabled are clearly indicated in this list.
4. Click on each deal to see the time left that you have to cancel it, if you wish to do so.
5. You have a set time limit to cancel trades.
6. You can cancel trades even if you have already hit the stop loss.
7. When a deal is cancelled, the amount of risk for your trade (your loss) is returned to your account.

Education And Research

easyMarkets cares a lot about trader education and support. It offers many high quality educational resources including articles, eBooks, glossaries, and a free trading course. The trading course covers a wide range of topics including market analysis, risk management, and trading psychology. As such, it provides you with a detailed, comprehensive introduction to forex trading.

easyMarkets Customer Support

easyMarkets are easy to contact for help. If you’re looking for a broker with polite, helpful support staff, then you need not look any further. The way that a broker treats their clients is extremely important and easyMarkets treat their clients very well. You can contact them via phone, email, or live chat.

Our Verdict

easyMarkets has a great all-round package. It offers great trading conditions, unique trading tools, and a secure trading environment. It also has great educational materials and a helpful customer support team. As such, it is a great choice for both new and experienced traders.

easyMarkets Forex Broker Review – FAQs

Like what you see? Sign up for an online trading account with easyMarkets here.

easyMarkets Forex Broker Review – Similar Brokers

easyMarkets is a great choice for forex traders. However, if you want to see some alternatives, there are also many other great forex brokers in Nigeria. Here are some similar companies.

Still deciding? Take a look at some of our other forex broker reviews.