easyMarkets Review South Africa -☑️ Pros and Cons (Updated 2023)

easyMarkets at a Glance

 Choose your quick section of our EasyMarkets Review below.

easyMarkets  Review – 26 key points quick overview:

1.   easyMarkets Overview
2.  easyMarkets Safety and Security
3.  easyMarkets  Sign-up Bonus
4. easyMarkets Minimum Deposit
5. easyMarkets Accounts Types
6. easyMarkets  Account Features
7. easyMarkets  Demo Account
8. easyMarkets Islamic Account
9. How to Open an easyMarkets Account
10. easyMarkets Trading Platforms
11. easyMarkets Fees Spreads and Commission
12. easyMarkets Deposit and Withdrawal
13. easyMarkets Leverage
14. easyMarkets Markets Instruments
15. easyMarkets Customer Support
16. easyMarkets Education
17. easyMarkets Research
18. easyMarkets Awards
19. easyMarkets  vs AvaTrade vs FBS – Comparison Table
20. easyMarkets Current Popularity Trend
21. easyMarkets Best Countries by Traders
22. easyMarkets  Customer Reviews – Trustpilot
23. easyMarkets of  Pros and Cons
24. Conclusion
25. Disclaimer
26. Frequently Asked Questions

 easyMarkets Overview

According to research in South Africa, easyMarkets was founded as a Forex broker in 2001 as Easy-Forex. In 2016, the brokerage introduced CFD trading and re-branded it to easyMarkets.easyMarkets appears to be a solid brokerage and a dominant player in the industry.

easyMarkets Safety and Security

One of the best benchmarks to measure the safety of a broker like easyMarkets is to establish which regulating authorities are watchdogs over its actions. easyMarkets is owned by Easy Forex Trading LTD and is authorized and regulated by CySEC, ASIC, BVI, and FSA.

easyMarkets  Sign-up Bonus

 EasyMarkets may offer specific bonuses of up to 50% with sign-up, also called a deposit bonus. New traders who register a real account with a broker may receive a sign-up bonus, a deposit bonus, or a welcome bonus. Brokers usually offer this kind of bonus to new traders to draw more customers and encourage trading activities. Offering a deposit or welcome bonus gives traders some money back depending on the initial deposit made.

 Even if a trader does not receive any deposit bonus, or any other bonuses or rewards, trading conditions are still attractive enough to encourage traders to register a real account.

easyMarkets Minimum Deposit

The easyMarkets minimum deposit amount to open a real trading account is $100/R1520.  The Minimum Deposit for 1st-time traders might vary based on the trading account type selected. Deposit activation can be up to 72 hours.

easyMarkets Accounts Types

 A forex account at easyMarkets is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies. Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.

 Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.

easyMarkets offers the following types of accounts:

easyMarkets  Account Features

easyMarkets  Demo Account

 A demo account is also referred to as a practice account because it provides traders with the ability and freedom to explore a broker’s offering without running the risk of losing money, due to the provision of virtual money with which to ‘trade’.

 Beginner traders can use a demo account to get acquainted with the live trading environment, where they can actively participate in trades and develop their own strategies. Demo accounts are not intended for beginners only but provide more advanced traders an opportunity to explore what EasyMarkets has to offer.

easyMarkets Islamic Account

An Islamic Account, for the greater part as offered by most brokers, is not a standalone account, although some brokers dedicate one account to being an Islamic or Swap Free account, in most cases, this is an option offered by especially Forex brokers.

Islamic Accounts are also provided by brokers who serve Middle Eastern clients along with clients from other jurisdictions and offer certain features that are in line with Sharia law, which prohibits the accrual of interest on funds deposited into the account.

The other important feature of an Islamic Account is that transactions must be settled immediately, requiring that currencies be transferred from one account to the other right after the transaction has been completed and therefore paid for in full.

How to Open an easyMarkets Account

Similarly to a bank, register a forex trading account with easyMarkets for the first time.

Step 1 – Complete the online application

you will be required to go through a basic “know your customer” process, which will allow easyMarkets to ascertain your submitted details and ensure the safety of your funds and account details.

Step 2 – Upload further information

With easyMarkets, new accounts are opened online, and the process is short and easy. Traders must first prove their e-mail address and create a password or connect through their Google or Facebook accounts.

Step 3 – Verify your account

The Client Agreement (which is provided on the sign-up page), then requires traders to verify their accounts as mandated by regulatory requirements. This can be done by submitting a copy of the trader’s ID and proof of residency document.

easyMarkets Trading Platforms

 The forex trading platform provided by easyMarkets to its clients is in essence the software to carry out their trades. Some brokers provide only one, and others quite a few platforms.

A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade. easyMarkets provides the MT4 trading platform to traders and has also created its own proprietary web trader, known as TradingView.

 Two of the core features marketed by easyMarkets, Deal Cancellation and Freeze Rate, are exclusively granted in this platform. The web trader also comes with a hidden cost to traders in the form of higher spreads. The MT4 trading platform is provided as the basic version only but remains the best choice available at EasyMarkets.

easyMarkets Fees Spreads and Commission

EasyMarkets Fees Spreads and Commissions vary according to the account type that the trader is using. EasyMarkets offers spreads of 0.9 pips on the EUR/USD.

easyMarkets Deposit and Withdrawal

 Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be done in the same ways, but sometimes differ. 

easyMarkets deposits and withdrawals are free of charge, but third-party fees may be applicable. Traders have a wide choice between options to fund accounts or make withdrawals. The processing times are listed between instantaneously and five business days, and the name on the EASYMARKETS account and the payment processor must be the same.

 The following methods can be used:

The following currencies can be used:

easyMarkets Leverage

 Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit – but also increase your potential loss.

 Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1. Margin is the amount of collateral to cover any credit risks that may arise during your trading operations.

It is expressed as the percentage of position size (e.g. 5% or 1%), and you have to have funds in your trading account to ensure sufficient margin. For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal or more than 100% to be able to open new trades, otherwise, your trading account will be fully hedged. easyMarkets offers a maximum leverage ratio of 1:400.

easyMarkets Markets Instruments

 The most popular market instruments available from most brokers for trading include:

EasyMarkets Forex

 Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

EasyMarkets Commodities

 Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

EasyMarkets Indices

 Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies in a nation.

EasyMarkets Precious metals

 The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

EasyMarkets Energy

 The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions, and global economic growth. easyMarkets offers more than 200 assets across six investment classes, specifically Forex, metals and commodities, equity CFDs, index CFDs, and cryptocurrencies.

 Its overall asset selection for pure Forex traders is exceptional, and commodities and metals are presented thoroughly, but equity and index CFDs are fairly limited, with only three cryptocurrencies available.

easyMarkets Customer Support

 Potential traders need to make sure the broker company they chose will offer sufficient support whenever they need it. In the case of EASYMARKETS customers can reach the support team on various chat channels, email, phone, and web forms.

The client support desk operates on a 24/5 basis and supports many different languages.

easyMarkets Education

 Before starting to trade, potential clients of easyMARKETS should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading. 

easyMARKETS offers an educational segment with valuable content aimed at new traders, including videos with a solid introduction to the Forex market. Traders can download eBooks, which offer little more than an FAQ section. The educational segment has potential but can be improved.

easyMarkets Research

 To be able to trade with confidence, traders should do as much as possible research about this kind of speculative trading before commencing, but also preceding every daring deal to ensure that they don’t lose money unnecessarily and trade as profitably as possible.

 With easyMarkets they have access to a dedicated division for research, which is divided into different sections. A collection of videos and written content is also available, as well as a market news section, trading charts, live currency rates, and a financial calendar.

easyMarkets Awards

2019

Best Forex Broker – The Forex Expo – Dubai

2018

Best APAC Region Broker – ADVFN International Financial Awards

Most Innovative Broker – World Finance Markets Awards

2017

Most Transparent Broker – Forex-Awards

Best Forex Service Provider – FXWord China

Best Trusted by Investors – JRJ China

Best Trading Platform – FX Empire

Dobra Marka 2017 Poland – Dobra Marka

2016

Best Trading Platform Poland – Global Banking & Finance Awards

Best Trading Platform UK – Global Banking & Finance Awards

Excellent Trading Platform – JRJ.com

Golden Consumer Award – Laur Konsumenta

2008-2015

Best Partner Program Europe 2015 – Global Banking & Finance Review Awards

Annual Innovative Products & Services – people.cn

Best Broker 2013 – CIOTEXPO

Best Broker of the Year – The 3rd China International Online Trading Expo

Best Dealing Room – MENA Forex Awards 2013

Best Forex Broker 2013 Poland – Global Financial Market Awards 2013

Best Forex Customer Services Provider 2013 – 12th Mena Forex Awards

Smart Investor Blue Ribbon Awards – AFR

Best FX trading platform 2013 – Nanjing expo

Best Innovative Forex Platform – COTS

Best New Product – www.51credit.com

Best Professional Forex Investment Platform – 2013 Money Fair

Forex Company that Most Trusted by Clients – JRJ.com

Best Customer Service – London Investor Show FOREX Awards 2012

Best Forex Broker – eastmoney.com

Best Forex Education – UK Forex Awards 2012

Best FX broker 2012 – East Money

Best FX broker 2012 – Guangzhou Financial Expo

Best FX Platform – London Investor Show FOREX Awards 2012

Best FX Retail Broker – London Investor Show FOREX Awards 2012

Best FX services Provider – China Financial Awards

Best FX Training Provider – London Investor Show FOREX Awards 2012

Best Online Broker, Eastern Europe – World Finance Awards 2012

The Fast 50 Business Award Winners – Fast Money

Best FxNews and Analysis Provider – AG Arabcom Group

Best Retail FX provider 2010 – AG Arabcom Group

easyMarkets  vs AvaTrade vs FBS – Comparison Table

easyMarkets Current Popularity Trend

As According to Google Trends, here is an overview of how frequently the search term – “easyMarkets” is entered into Google’s search engine over a given period of time.

easyMarkets Best Countries by Traders

easyMarkets  Customer Reviews – Trustpilot

easyMarkets is a perfect online CFD…

easyMarkets is a perfect online CFD broker, I have been using it since 2016 and have been using the MT4 account, with smooth transactions and a stable network.

Great help in no time

Short wait time, informative assistants.

I was having a little problem with…

I was having a little problem with the deposit but after I received assistance from Nantia everything was perfect. I even made another deposit without any assistance thank you so much.

easyMarkets of  Pros and Cons

Conclusion

easyMarkets can be described as a solid brokerage and boasts impressive operational statistics.easyMarkets trading conditions don’t however compete well with some other leading Forex brokers with spreads on the high side.easyMarkets does charge traders for using its proprietary trading platform through higher spreads than those in the broker’s MT4 platform. The MT4 platform features a basic version only; instead of providing traders with required third-party plugins to unlock the platform’s full potential

You might also like: EasyMarkets Account Types

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Disclaimer

easyMarkets warn potential customers that Forex and CFDs trading always carries a high risk and may not be suitable for all investors.

Before deciding to trade with easyMarkets, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.

easyMarkets warns that margin trading involves the potential for profit as well as the risk of loss and that movements in the price of foreign exchange and commodities are very unpredictable, hence easyMarkets cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.

Frequently Asked Questions

What is easyMarkets Overall Review Rating?

The overall score for easyMarkets is 8/10

What is the minimum deposit to start trading on EasyMarkets?

VIP Account – 10 000 USD,  Premium Account – 2 000 USD, Standard Account – 100 USD

Is EasyMarkets safe and secure?

Yes,easyMarkets is owned by Easy Forex Trading LTD and is authorized and regulated by CySEC, ASIC, BVI, and FSA.

Does EasyMarkets offer a demo account?

Yes,easyMarkets offers a Demo Account.

Is EasyMarkets legitimate?

Yes,easyMarkets is assert that the broker is trustworthy and highly regulated by top-tier regulators.

Featured SA Shares Writer and Forex Analyst.