Considered by many novice traders to be one of the best brokers online, Cyprus based EasyForex has been one of the pioneering online foreign exchange brokers since its founding in 2003. It is regulated by CySEC in Europe, ASIC in Australia, and the CFTC and NFA in the United States.
With respect to its suitability, Easy Forex would generally appeal best to newer foreign exchange traders that want to get started with a minimum of complexity, while working on improving their trading skills over time using features like the Easy Forex Dealing Room. The broker’s straightforward trading platform and helpful educational materials will help get just about any forex trading novice started on the right foot, while its offering of a Reuters News feed to clients can keep experienced traders interested.
Demo Account - EasyForex offers a free demo account to traders who wish to practice their trading skills before funding an account. The broker funds demo accounts with a generous $100,000 of virtual money which can be used to rate the performance of automated MT4 expert advisors or your own manual trading systems.
Standard Accounts- four types of funded trading accounts are offered: Mini, Gold, Platinum and V.I.P. Traders qualify for better account types depending on how much of an initial deposit they fund their account with, and lot sizes increase with each level. Standard account clients all receive personal training, chat and trading platform access. Gold and higher account types offer improved services, such as SMS alerts, trading signals and dealing room access, while V.I.P. clients get dealer updates and customized reports.
Easy Forex offers a relatively limited set of forex trading account funding options. You can fund a live account with as little as $25 using various credit cards or via a bank wire transfer.
The broker charges no commission on profit withdrawals, which can be made to credit card and bank accounts.
The company offers a suite of customizable trading and analysis software programs called TradeDesk to assist traders in creating their own personal environment for trading.
It also offers a web based platform called Visual Trading that can suit Mac or Linux users. In addition, the broker offers a mobile trading app for both iPhone and BlackBerry devices to clients free of charge.
Easy Forex also offers fixed dealing spreads and microlot trading for the very popular independent MetaTrader4 trading platform. This sophisticated software is available for download free of charge from its developer’s website, and it features an extensive array of indicators and automated forex trading capabilities.
A number of useful services that can suit a novice trader, as well as some for more advanced traders are offered. For example, the Learn tab on the website has links to Forex Training Videos, a trade simulator, a forex e-book, forex basics articles, and a glossary of related terms.
With respect to other information offered to clients, the site provides expert fundamental and technical analysis commentary and videos, as well as charts, a financial calendar and a high quality news feed from Reuters.
In terms of customer service, the broker offers one-on-one training for all funded account holders, as well as dealing desk access for Gold, Platinum and V.I.P. accounts. It also offers a connection to its award winning Dealing Room with personal support and proprietary tools.