EasyMarkets is one among the various foreign brokers who are entering the lucrative UK market. The broker company is based in Cyprus. Additionally, to the headquarters in Limassol, there are also locations in Warsaw and London. The range of products and markets is clear: CFDs (e.g. on a stock basis), margin trading (e.g. currency pairs) and social trading. EasyMarkets has been on the market since 2003 and is therefore one among the providers that are around for an extended time.
Advantages of easyMarkets
- Safe website
- Good knowledge area
- Quite user-friendly website
- Mobile trading is possible
- Solid trading requirements
- CySEC-regulated online broker
Disdvantages of easyMarkets
- Unnecessarily many account models
- Customer care without information on availability
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Account fees & costs
- low minimum deposit
- so many account types only make sense if there are alternatives to the market maker business model
- transparent conditions and comprehensible costs
The “standard trading account”
This account has an indirect minimum deposit, because trading can only be started from a capitalization of $ 25. If this account type is not any longer actively used, an annual inactivity penalty (“administration fee “) are going to be due in the same amount. The remuneration for Easy Markets takes place – like all account models of the provider – via spreads. The “standard trading account” which spreads this variable. EasyMarkets basically acts as a market maker, so customers don’t have direct market access via EasyMarkets.com. The trading software is identical for all account models.
The “premium trading account”
The “Premium Trading Account” requires a minimum deposit of $ 2,000. In return, the scope of services has been expanded, but the broker continues to act as a market maker. The improved services include fixed spreads, personal instruction and a service with market updates.
The EasyMarkets “VIP trading account”
Even the “VIP trading account” on EasyMarkets.com doesn’t offer any improved market access (eg ECN or STP), the business model remains a “market maker with a conflict of interest between trader and broker”. The fixed spreads are somewhat narrower than the “Premium Trading Account”. The minimum deposit is $ 20,000 and therefore the minimum margin is $ 500. There are other banks and brokers who offer significantly better account models reciprocally for lower minimum deposits. At EasyMarkets, the various account models benefit primarily the provider and not the customer.
How transparent is EasyMarkets in terms of costs and conditions?
The large depot test by 4xtrading.co.uk quickly showed: the forex broker is one of the brokers with transparent conditions and comprehensible costs. The corresponding list of costs and services was also easy to seek out. Additionally, you’ll find more detailed information on costs, accounts and conditions on the page.
The provider may be reached by phone, e-mail and live chat.
A callback service isn’t offered, but social media are integrated.
There is no information about the time of availability.
Customer care & advice at EasyMarkets: what was evaluated in the test?
All banks and brokers, including EasyMarkets UK, were asked an equivalent questions in the test: When can this provider be reached in terms of time? Which routes (eg e-mail, phone, branch, post office) can provide advice and guidance offered by EasyMarkets used? Does this broker maybe even offer special additional services that aren’t available from the competition?
Security & Encryption
The website and login area are secured with valid SSL certificates.
No safety notices, no safety tips and no notification services.
EasyMarkets was secure even earlier.
Safety and safety instructions were the main target during this category
Internet security always begins with securely encrypted websites and secure data transmission. Banks and brokers had to place up with particularly high-test standards within the large depot test from 4x Trading. Other important test questions were: is that the IT security, data protection and hazard prevention approach consistent? How was your experience with security within the past? What security tips and support are customers currently receiving?
How secure are the EasyMarkets website and login area?
The endurance test of the encryption of EasyMarkets (website and login area) provided positive experiences. Both areas are secured with up-to-date and trustworthy SSL certificates. the design into the past at EasyMarkets was also informative and positive. During the research within the large depot test by Brokervergleich.com no negative press reports on hacker attacks, security problems and data protection breakdowns were found. the security tips, risk warnings and in motivating the customer to have security efforts to easy- EasyMarkets activities in account and / or depot) weren’t found within the test on EasyMarkets.
EasyMarkets UK Review: Conclusion
For certain customer groups (e.g. beginners with little money and a few experience) this provider might be worth a glance. With more transparency and commitment, this Cypriot broker would have even achieved a far better result. there have been good leads to the important test categories “Knowledge transfer & webinars”, “Mobile trading & apps” and “Demo account & trading”. Unfortunately, customer service, account models and risk warnings clothed to be problem areas within the test. Weak special offers and extra offers sealed a test end in the center.
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