EasyForex-Overview of Minimum Deposit, Spreads & Leverage

What Is EasyForex？

EasyForex, operated by Pixel Brands Pty Ltd, is an online trading platform founded in 2001 and based in Australia. It is currently under a “Suspicious Clone” regulation by ASIC.

Pros & Cons

Pros:

• Both MT4/5 Supported: Easy access to industry-leading trading platforms, offering a wide range of features and tools for traders of all levels.

• App Available: Accessible trading on the go via mobile devices, which brings more convenience.

• Commission-Free: Eliminates extra costs associated with trading, so traders can keep more of their profits.

• 24/7 Customer Service Available: Round-the-clock support is available whenever needed, so the problems traders encounter can be dealt with more efficiently.

Cons:

• Suspicious Clone Regulation: Regulatory status raises concerns about the legitimacy and reliability of the platform.

• Limited Immediate Contact Information: Lack of immediate contact options such as phone support can lead to delays in resolving urgent issues or inquiries.

Is EasyForex Legit or a Scam？

• Regulatory Sight: The regulation of EasyForex is categorized as a “Suspicious Clone,” by ASIC(Australia Securities & Investment Commission), which means that it can be an illegitimate or regulated broker. The license type mentioned is “Market Making (MM)” and the license number is “246566”.

• User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

• Security Measures:

1. FREE Guaranteed Stop Loss: This feature ensures that clients can specify a predetermined level at which their trades will be automatically closed, protecting them from excessive losses beyond their risk tolerance.

2. Negative Balance Protection: EasyForex's implementation of Negative Balance Protection safeguards clients from incurring losses greater than their account balance. In the event of adverse market conditions leading to a negative account balance, clients are not held liable to cover the deficit.

Market Instruments

1. Forex: Trade major, minor, and exotic currency pairs in the foreign exchange market.

2. Cryptocurrency: Access popular cryptocurrencies such as Bitcoin, Ethereum, and Ripple for trading.

3. Commodities: Trade commodities such as gold, silver, oil, and agricultural products.

4. Indices: Invest in global stock market indices representing various sectors and regions.

5. Vanilla Options: Engage in options trading with straightforward, traditional options contracts on various underlying assets.

Account Types

Standard Account

• Requires a minimum deposit of $200 or more.

• Designed for beginners or those looking to start trading with a low initial investment.

• Provides access to EasyForex's leading trading platform and exclusive trading tools.

• Includes a $50 deal cancellation credit, offering additional risk management capabilities.

Platinum Account

• Requires a minimum deposit of $3,000 or more.

• Designed for more experienced traders seeking advanced capabilities and features.

• Offers access to professional trader tools and resources.

• Includes a $500 deal cancellation credit for enhanced risk management.

VIP Account

• Requires a minimum deposit of $10,000 or more.

• Tailored for institutional-grade traders or high-net-worth individuals.

• Provides access to exclusive benefits such as insider reports and premium trading conditions.

• Offers personalized support and the highest level of service from EasyForex.

• Enjoy an up to $2000 dealCancellation Credit.

Spread & Commission

EasyForex offers a fixed spread of 1.8 pips on trades conducted through their platform. Additionally, EasyForex does not charge any commission on trades, saving trading costs, which is very advantageous.

Trading Platforms

EasyForex provides a versatile trading platform accessible via PCs, iPads, or smartphones, and its own trading APP is available. Additionally, EasyForex supports both MT4 and MT5, offering traders the flexibility to choose their preferred trading interface.

Deposit & Withdrawal

EasyForex offers several options for depositing funds into trading accounts, including credit cards and bank wires. They accept a total of 12 different currencies. Withdrawals are facilitated through an online form, and funds are refunded using the same method as the initial deposit.

Customer Support

EasyForex provides 24/7 customer support. However, the available support channels are somewhat limited, comprising primarily a contact form and communication through Facebook. While its continuous support is advantageous, the absence of immediate contact information such as phone numbers or live chat is considered a drawback for users seeking more direct assistance.

Conclusion

EasyForex is a broker with no commission charged, both MT4/5 supported, a mobile app, and 24/7 customer support. However, the support channels of EasyForex are a bit limited and its regulation is stated as “Suspicious Clone”. We do not recommend users invest their money in a broker with a suspicious regulation.

Frequently Asked Questions (FAQs)

Question: Is EasyForex regulated or not？

Answer: Yes. However, the regulation is stated as “Suspicious Clone”.

Question: Will a commission by charged？

Answer: No, EasyForex does not charge any commission.

Question: Does support MT4/5？

Answer: Yes, it does support both.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.