Overview of EZ SQUARE
EZ SQUARE is a brokerage firm that offers trading services in the financial markets. Registered in St Vincent and the Grenadines, the company provides a range of market instruments, including Forex, Commodities, Indices, and CFDs, allowing traders to diversify their investment portfolios.
EZ SQUARE offers different account types, such as Standard and Mini accounts, to cater to the varying needs of traders. The leverage provided by EZ SQUARE can go up to 100:1, allowing traders to amplify their trading positions. Traders can access the MetaTrader 5 (MT5) trading platform, which is known for its advanced features and user-friendly interface. The platform offers a wide range of tools and functionalities to facilitate efficient trading and analysis.
Customer support is available via email and phone, with multiple contact options provided. EZ SQUARE also offers educational resources, including a Knowledge Hub, glossary, economic indicators, an economic calendar, financial headlines, and access to financial news.
Is EZ SQUARE legit or a scam？
Determining the legitimacy of a broker like EZ SQUARE is an important consideration for traders. EZ SQUARE is incorporated in St Vincent and the Grenadines, and it is registered by the Financial Services Authority. Being incorporated in St Vincent and the Grenadines may not provide the same level of regulatory oversight as stricter jurisdictions.
However, it's important to note that the regulatory status alone does not guarantee the absence of any fraudulent activities. Traders should conduct thorough research and due diligence before engaging with any broker. It is advisable to review customer feedback, check for any regulatory warnings or complaints, and assess the broker's transparency and credibility.
Pros and Cons
EZ SQUARE offers a wide range of financial instruments for trading, including forex, commodities, and indices. The leverage of up to 100:1 provides traders with the potential for larger profits. The platform used by EZ SQUARE is MetaTrader 5 (MT5), which is known for its user-friendly interface and advanced trading features. The broker also provides dedicated customer support to assist traders with their inquiries and concerns. Additionally, EZ SQUARE offers educational resources to help traders enhance their knowledge and skills.
One limitation of EZ SQUARE is the absence of precise information about spreads, making it challenging for traders to accurately assess the cost of trading. Another drawback is the long processing time for withdrawals, which can be inconvenient for traders needing quick access to their funds. Additionally, the regulatory status of being incorporated in St Vincent and the Grenadines may not provide the same level of oversight and investor protection as stricter regulatory jurisdictions.
Market Instruments
EZ SQUARE offers a wide range of market instruments for trading, including futures, forex, precious metals, and commodities. In terms of futures, traders can access products such as E-Mini S&P 500 Index Futures (ES), E-Mini NASDAQ 100 Index Futures (NQ), and German DAX 30 Index Futures (FDAX). These futures contracts provide opportunities to speculate on the price movements of major indices.
For forex trading, EZ SQUARE offers a comprehensive selection of currency pairs, including popular ones like EUR/USD, AUD/USD, USD/JPY, GBP/USD, and more. Traders can take advantage of 24-hour trading and leverage of up to 100:1 in the forex market.
Precious metals, such as Gold (XAU) and Silver (XAG), are available for trading as commodities. Traders can speculate on the price movements of these precious metals without owning them physically, providing opportunities for portfolio diversification or risk management.
In the commodities category, EZ SQUARE provides trading options for energies such as crude oil and natural gas. Traders can choose between trading ETFs, futures contracts, or CFDs to participate in the energy markets.
Account Types
EZ SQUARE offers two types of accounts: the Standard Account and the Mini Account. Both account types provide access to margined currency trading and CFDs for Gold and Silver.
In the Standard Account, the standard lot size is 100,000 base currency, with a minimum trade size of 0.01 standard lot. The minimum margin requirement is 1% and the minimum deposit required is $10. The maximum trade size is 50 standard lots for FX contracts and 10 standard lots for CFDs on Gold and Silver. Trading hours are from Sunday 22:00 to Friday 22:00 (GMT).
The Mini Account offers a smaller lot size of 10,000 base currency, with a minimum trade size of 0.01 mini lot. The minimum margin requirement and minimum deposit are the same as the Standard Account at 1% and $10, respectively. The maximum trade size is 50 mini lots for FX contracts and 10 mini lots for CFDs on Gold and Silver. Trading hours are also from Sunday 22:00 to Friday 22:00 (GMT).
Both account types provide access to the MT4 platform and have daily break times during non-trading hours. Traders should carefully consider the risks involved in margined currency trading and choose the account type that best suits their trading preferences and risk tolerance.
Step-by-step on opening an account
To get started on your trading journey, you'll need to open an account with EZ SQUARE. Opening an account is a straightforward process that can be completed online. Let's explore the step-by-step process to open an account with EZ SQUARE.
Go to the EZ SQUARE website and click on the “Create Account” button.
Complete the account registration form by providing your personal details, including your title, first name, last name, email address, country of residence, and mobile number, and create a strong password. Optionally, you may enter a promo code if applicable.
Enter the authentication number sent to your mobile number to verify your contact information.
After completing the registration form and accepting the terms, submit your account application. You may receive a confirmation email or notification indicating that your account is being processed.
Once your account is successfully opened, you will typically receive further instructions, such as funding your account and accessing the trading platform. It is important to note that additional verification or documentation may be required as part of the account opening process to comply with regulatory requirements.
Trading Fees
EZ SQUARE does not charge a fee for setting up an account or depositing funds. However, certain fees are associated with account management and withdrawals. In the case of dormant accounts with no transactions for at least 6 months and a balance of $50 or less, a dormant account management fee may apply, which is equal to the remaining balance in the account or $50, whichever is lesser. Administration charges, which may be subject to change, are deducted from the account upon the occurrence of the relevant event.
Regarding deposits or withdrawals, EZ SQUARE encourages transactions in the same currency as the base currency of the account. If funds are deposited or withdrawn in a different currency, conversion charges may apply, imposed either by the bank or by EZ SQUARE at the prevailing rate shown on the trading platform, plus a 3% premium. For fund transfers between trading accounts with different base currencies, currency conversion is performed at the prevailing rate shown on the trading platform, also subject to a 3% premium.
For withdrawals from USD-denominated accounts, a wire fee of $25.00 is charged. Traders should be aware of these fees and consider them when managing their accounts and conducting transactions with EZ SQUARE.
Leverage
EZ SQUARE offers margined currency trading with a leverage of up to 100:1. Leverage allows traders to control larger positions with a smaller amount of capital. For example, in a standard account or mini account, only 0.1% of the notional value of the contract (defined as 100,000 of the base currency) is required to enter into a position. However, it's important to understand that margined currency trading carries significant risk.
Trading Platform
EZ SQUARE offers the MetaTrader 5 (MT5) platform as its trading software, an upgraded version of the popular MetaTrader 4 (MT4). MT5 integrates the successful features of MT4 while introducing improvements and enhancements. Traders using MT5 with EZ SQUARE can enjoy features such as EA and signals trading, hedging capabilities, and extensive charting options with up to 100 open charts.
The platform provides a user-friendly interface, advanced tools, and a wide range of technical indicators, empowering traders with the necessary resources for informed decision-making. MT5 offers an upgraded trading experience, combining familiarity with improved functionalities to meet the evolving needs of traders.
Deposit & Withdrawal
EZ SQUARE provides deposit methods such as bank wire transfers, Transfer Union, and the Limitless Gateway. Bank wire transfers allow USD deposits with a minimum of $50 and no maximum limit, taking 1-2 business days for processing without transfer fees. Transfer Union enables USD deposits within 1 business day, but transaction fees may apply. The Limitless Gateway method accepts USD deposits with a minimum of $50 and no specified maximum limit. Transaction fees may be applicable.
When it comes to withdrawals, EZ SQUARE process withdrawal forms received before 21:00 GMT on the same business day. However, the time it takes for funds to reach your account depends on the chosen withdrawal method and external factors. It's important to note that withdrawals can only be returned to a bank account in the same name as your EZ SQUARE trading account, and any transaction fees charged by banking institutions are the responsibility of the client.
Customer Support
EZ SQUARE offers customer support through various channels, including email and phone. You can contact them via email at support@ezqtech.com or by calling +1784 4562 970 or +82 2 2664 9904 (Korea) or +64 800 968 717. Please note that the availability and responsiveness of customer support may vary based on factors such as business hours, the volume of inquiries, and the policies of EZ SQUARE.
Educational Resources
EZ SQUARE offers a range of educational resources to support traders in expanding their knowledge and improving their trading skills. The Knowledge Hub is a valuable resource that provides access to a variety of educational materials such as articles, guides, and tutorials. Traders can explore topics like market analysis, trading strategies, and risk management to enhance their understanding of the financial markets.
Traders can access a helpful Glossary for definitions of common trading terms. EZ SQUARE also offers economic indicators, an economic calendar, financial headlines, and access to financial news. Practical resources on order execution, order types, and a pip value calculator are also available. These educational resources empower traders to enhance their understanding of the markets, make informed trading decisions, and stay updated on economic events and trends.
Conclusion
In conclusion, EZ SQUARE offers a variety of features, products, and services for traders. They provide access to different market instruments, including Forex, Commodities, Indices, and CFDs, through the MetaTrader 5 (MT5) trading platform. They offer various account types, leverage options, and deposit methods to cater to different trader needs. Customer support is available, and educational resources are provided to enhance trading knowledge and skills.
However, it's important to note that EZ SQUARE operates as an unregulated broker, which carries certain risks. The lack of detailed information on spreads and commission fees, as well as the longer processing time for withdrawals, should be taken into consideration. Traders should evaluate their risk tolerance and objectives, conduct thorough research, and consider alternative regulated brokers that offer greater transparency and investor protection.
FAQs
Q: What is the regulatory status of EZ SQUARE？
A: EZ SQUARE is incorporated in St Vincent and the Grenadines without a valid license from financial authorities.
Q: What is the maximum leverage offered by EZ SQUARE？
A: EZ SQUARE offers leverage of up to 100:1.
Q: How is customer support at EZ SQUARE？
A: EZ SQUARE provides dedicated customer support via email and phone.
Q: What trading platform does EZ SQUARE offer？
A: EZ SQUARE offers the MetaTrader 5 (MT5) platform.
Q: What account types are available at EZ SQUARE？
A: EZ SQUARE offers two types of trading accounts: Standard and Mini Accounts.
2024-10-31 15:24
