rate: 3.00
Easy Forex was developed by a group of bankers and foreign exchange experts. Their goal was to establish an FX trading platform that will be easy to use by any end user. Easy Forex assumes the position of a market maker, with its liquidity providers being UBS (in Switzerland) and The Royal Bank of Scotland (RBS).
The company's headquarters are in Cyprus with offices, FX trading rooms and customer support centers around the world.
Easy Forex is proprietary software and was the first to offer a no-download platform. It is available in English, Arabic, Chinese, Hebrew, Polish, Greek, and German.
The registration process is quick and simple and it is easy to make a deposit of funds. Deposits are accepted via the major credit cards as well as PayPal. Withdrawal process is as easy, however the first withdrawal requires speaking to the company over phone and presenting them with an ID and with legitimate bank account details, in means of protection from any money laundering attempts.
Executing deals in the Easy Forex system requires only a few simple steps, however an understanding of the basic terminology of the FOREX market is necessary.
The site offers a guided tutorial of dealing in the FOREX Market using Easy Forex, and upon registration each user is contacted by an account manager who will walk them through the initial stages of dealing. This personal account manager is available during the local business hours, and the dealing room is open 24/7 for technical support.
In addition Easy Forex offers its more prominent clients advanced training for using the system and trading in the market.
When first setting up an account with Easy FOREX you may define the type of account you wish to use according to the level of risk you are willing to take. You may open a mini-account with a margin of as little as $12.5. Additional account types are Gold, Platinum and a Tailor Made Import-Export account. The type of the account will also determine the spread offered to the client, ranging from 10 pips for a mini-account, 7 pips for gold accounts, 5 pips for platinum accounts and 3 pips for tailor made accounts.
The spreads are the source of earning for Easy Forex and there are no other commissions for deals performed on their system, with one exception being a renewal fee for rolling over positions on Day Trading to the next day.
Every deal that is set using any of the products Easy Forex offers, can easily be adjusted to the trends in the markets. These adjustments are possible under the “My Position” section where the trader can monitor and control each of his deals.
Every action is recorded in the system, as well as confirmed by an automatic email.
Additional activity logs can be found in the following sections:
“My Account” tracks your balance, showing all deposits, credit card charges and withdrawals; The “History” section shows the outcome of all closed deals.
In order for the trader to best carry out decisions Easy-Forex provides Reuter’s world news that may affect the FOREX market, a financial calendar and a set of charts and analytical tools that are quite easy to comprehend.
With a good understand of the FOREX market and guidance provided by Easy Forex representatives it is actually easy to trade using this system. All the tools needed for executing deals, monitoring them and making the best decisions about them are highly accessible and user-friendly. Based on our Easy Forex review, this broker is a solid contender for the best of the market's brokers.