- 1 easyMarkets Basics
- 2 About easyMarkets
- 3 Key Benefits
- 4 Regulation And Safety
- 5 Regulation In Nigeria
- 6 Fund Safety
- 7 Trading Awards
- 8 easyMarkets: Legit or Scam?
- 9 easyMarkets Trading Assets
- 10 Trading Instruments
- 11 Account Types
- 12 Standard Account (WebTrader)
- 13 Standard Account (MT4)
- 14 Premium Account (WebTrader)
- 15 Premium Account (MT4)
- 16 VIP Account (WebTrader)
- 17 VIP Account (MT4)
- 18 Demo Accounts
- 19 Islamic Accounts
- 20 PAMM Accounts
- 21 Leverage
- 22 Spreads
- 23 Commission
- 24 easyMarkets Registration – How To Open A Trading Account
- 25 easyMarkets Registration – How To Verify A Trading Account
- 26 easyMarkets Payment Methods
- 27 Deposits & Withdrawals
- 28 Trading Platforms
- 29 Trading Tools
- 30 dealCancellation
- 31 Education And Research
- 32 Trading Hours
- 33 easyMarkets Customer Support
- 34 Accepted Countries
- 35 Our Verdict
- 36 easyMarkets Forex Broker Review – FAQ
- 37 easyMarkets Forex Broker Review – Similar Brokers
|🏛️ 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|
easyMarkets is an established forex broker. They have 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 also have 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.
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.
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.
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.
- 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 indice 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
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.
|Type||Spreads||Min. Deposit||Max. Leverage||Commission|
|Standard||From 1.8 pips||$25||1:500||$0|
|Standard (MT4)||From 1.7 pips||$25||1:500||$0|
|Premium||From 1.5 pips||$2,000||1:500||$0|
|Premium (MT4)||From 1.2 pips||$2,000||1:500||$0|
|VIP||From 0.8 pips||$10,000||1:500||$0|
|VIP (MT4)||From 0.7 pips||$10,000||1:500||$0|
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.
easyMarkets offers a demo account. Their demo account mimics a live trading environment and allows you to practise your forex trading in real-time. New forex traders can also explore the full suite of tools that MT4 and MT5 have to offer. Veteran forex traders can also use the demo account to test new EAs and trading strategies.
All of the FXPro accounts are available as Islamic Accounts, and you can choose this option when opening your online trading account. Additional commission fees may apply.
easyMarkets does offer a PAMM service. PAMM accounts allow Nigerian traders to invest in trading strategies executed by experienced account managers. This service can be very helpful for new forex traders, as it means they can benefit from a fully-managed investment portfolio, as well as live investment updates.
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. ,
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.
There are no commission charges on any of the accounts.
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.
easyMarkets Payment Methods
As part of our easyMarkets review, we looked at what payment options are available. As an international broker, they try to offer standard payment methods, as well as local payment solutions. In general, they also try to offer fast transaction times and low transaction fees.
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.
easyMarkets has the MetaTrader4 trading platform. MetaTrader5 (MT5) is also 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.
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.
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:
When you open a trade, you need to click on the green shield icon to indicate that you’re turning on dealCancellation for that trade. Then in your Open Trades report, you will see a list of all trades and the ones with the feature enabled are indicated clearly. Click on each deal to see the time left that you have to cancel it, if you wish to do so. You have a set time limit to cancel trades and can do so, even if you have already hit the stop loss. 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 trading hours are in line with standard trading hours. You can open trades whenever the financial markets are open. Trading hours may vary on public holidays.
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.
Restricted Regions: easyMarkets Group of Companies does not provide services to residents of certain regions, such as the United States of America , Israel, British Columbia, Manitoba, Quebec, Ontario and Afghanistan, Belarus, Burundi, Cambodia, Cayman Islands, Chad, Comoros, Congo, Cuba, Democratic Republic of the Congo, Equatorial Guinea, Eritrea, Fiji, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Laos, Libya, Mozambique, Myanmar, North Korea, Palau, Panama, Russian Federation, Somalia, South Sudan, Sudan, Syria, Trinidad and Tobago, Turkmenistan, Vanuatu, Venezuela, and Yemen.
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 – FAQ
Yes, easyMarkets is a legit forex broker. They are an established and regulated online trading service provider. easyMarkets has a very strong account offering. They have some of the best trading accounts in the industry, and their forex trading costs are very competitive. easyMarkets also has a very strong trading instrument offering. Their trading assets include forex, stocks, and cryptocurrencies. As such, easyMarkets is a legit broker.
Yes, easyMarkets is a regulated forex broker. Forex traders in Nigeria will come under their FSC business entity. While this business entity may have less regulatory oversight than some of the others, it is still part of the wider easyMarkets Group. And as a Group, the easyMarkets regulations are very strict. This means that you will benefit from fair treatment, excellent services, and good client fund protection.
Yes, you can trust easyMarkets. They are one of the most well-known forex brokers in the industry, and one of the most popular online trading companies operating in Nigeria. easyMarkets has been offering online trading services for over a decade. They are a large, international forex company with clients worldwide. The easyMarkets reputation is excellent. They are very popular and they have won many forex awards. In our opinion, they are a trustworthy forex broker.
easyMarkets is a safe forex broker. When it comes to fund safety, they choose to go beyond their basic regulatory requirements, and offer more comprehensive client fund protection measures. easy Markets keeps all client funds in segregated accounts, separate from its operating capital. This means that they can never use client funds for their own operational purposes. In our opinion, easyMarket is a safe company to trade with.
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.