Easy Markets Spreads, leverage, minimum deposit Revealed
WikiFX | 2024-10-09 18:52Abstract：Based in Cyprus, Easy Markets is a forex and silver & gold provider through their web-based trading platform. They support four live and demo accounts. However, their licenses of ASIC and CYSEC are both suspicious clones.
| Easy Markets Review Summary | |
| Founded | 2016 |
| Registered Country/Region | Cyprus |
| Regulation | ASIC/ CYSEC (Suspicious clone) |
| Market Instruments | Forex, gold & silver |
| Demo Account | ✅ |
| Leverage | / |
| EUR/ USD Spread | From 3 pips |
| Trading Platforms | Easy-Forex trading platform |
| Minimum Deposit | $200 |
| Customer Support | Phone, email and fax |
Based in Cyprus, Easy Markets is a forex and silver & gold provider through their web-based trading platform. They support four live and demo accounts. However, their licenses of ASIC and CYSEC are both suspicious clones.
Pros and Cons
| Pros | Cons |
| Demo accounts available | ASIC/ CYSEC (Suspicious clone) |
| Security measures provided | Wide spreads |
| Multiple deposit and withdrawal channels | No MT4/5 |
Is Easy Markets Legit?
Easy Markets claims that it is regulated by two licence. But both of them are suspected to be fake clone ones.
- The Australian Securities and Investments Commission (ASIC) (license type: Market Making (MM), license number: 246566).
| Regulatory Status | Suspected Fake Clone |
| Regulated by | Australia |
| Licensed Institution | EASYMARKETS PTY LTD |
| Licensed Type | Market Making(MM) |
| Licensed Number | 246566 |
- The Cyprus Securities and Exchange Commission (CySEC) (license type: Market Making (MM), license number: 079/07)
| Regulatory Status | Suspected Fake Clone |
| Regulated by | Cyprus |
| Licensed Institution | Easy Forex Trading Ltd |
| Licensed Type | Market Making(MM) |
| Licensed Number | 079/07 |
What Can I Trade on Easy Markets?
Easy Markets offers gold & silver and forex to trade.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Precious Metals | ✔ |
| Indices | ❌ |
| Cryptocurrencies | ❌ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
Easy Markets offers Mini, Gold, Platinum and VIP accounts with the minimum deposits of $200, $500, $5,000 and $10,000 respectively. Besides, it also offers forex demo accounts.
| Account Type | First Deposit | Minimum Trade Size | Minimum Value to Be Risked Upon |
| Mini | $200 | $5,000 | $25.00 |
| Gold | $500 | $50,000 | $250.00 |
| Platinum | $5,000 | $250,000 | $1,250.00 |
| VIP | $10,000 | $500,000 | $2,500.00 |
Easy Markets Spreads
Easy Markets offers a variety of initial standard spreads across different currency pairs. For instance, the EUR/USD spread starts from 3 pips for VIP accounts and 4 pips for Mini accounts. The spreads for more exotic pairs like USD/NOK and USD/PLN can be as low as 50 pips for VIP accounts but widen to 70 pips for Mini accounts. You can review the real-time spreads at the time of opening a trade.
Trading Platform
Easy Markets offers Easy-Forex trading platform, an internet-based system. It offers web-based interface that requires no software downloads. The platform provides real-time data updates and secure transaction processing.
Deposit and Withdrawal
Easy Markets offers credit cards, bank wire transfers, and even RMB deposits. Additionally, Easy Markets covers any fees incurred during bank deposits. Withdrawals are equally straightforward, with funds being returned via the same method used for deposit, in compliance with anti-money laundering regulations. The process is simple, fee-free.
Customer Service
| Contact Options | Details |
| Phone | 400-120-3151 |
| info@easy-forex.com | |
| Fax | 00357 2581 7183 |
| Online Chat | ❌ |
| Social Media | ❌ |
| Supported Language | English |
| Website Language | Chinese |
The Bottom Line
Easy Markets provides demo accounts for users, its regulatory claims with ASIC and CySEC are questionable, both being flagged as suspicious clones. The broker offers various account types with minimum deposits ranging from $200 to $10,000, but higher spreads, starting from 3 pips for EUR/USD.
FAQs
Is Easy Markets safe?
No. Their licenses have been suspected as fake clones.
Is Easy Markets a good for beginners?
No. Their minimum deposit is rather high and their trading conditions are not regulated well.
What security measures does Easy Markets have in place to protect my funds and personal information?
It offers two layers of high-level firewall protection, encryption system, and two physically separate servers.
At Easy Markets, are there any regional restrictions for traders?
No.
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