Being an extremely famous online forex broker, Easy-Forex was basically developed by bankers who wished to formulate an FX trading platform that can easily be used even by first time internet users who have no knowledge whatsoever about the workings of the internet. But just like anything else in life, Easy-Forex has its drawbacks as well.
To be fairly honest, Easy-Forex happens to be a market maker, which is provided liquidity by some of the most well-known banking institutions such as UBS and the Royal Bank of Scotland. Easy-Forex has its main offices, particularly the customer support centre and trading room based in Cyprus. Thanks to its heavy advertising and easy usability, the brand is recognized all over the world. The major reason behind this brand’s popularity is the fact that the forex platform offered by this online forex broker known as Easy-Forex is the first of its kind to not require any downloads. Bear in mind that no third party trading software is being used by Easy-Forex; however, it has a version of Metatrader for which a minimum deposit of $1,000 is required.
Registration, Funding and Withdrawals at Easy-Forex
Compared to other forex brokers, getting registered at Easy-Forex is extremely easy. Any major credit card such as a Visa or Master Card can be used in order to fund a new account at Easy-Forex. Easy-Forex also accepts payments via PayPal. You need to remember that first time withdrawals require a bit of a protocol procedure that is put into place against money laundering issues. Easy-Forex requires you to present an ID and go through a telephonic interview conducted by an account manager.
Upon getting an account issued at Easy-Forex, new users would have to speak with an account manager to thoroughly understand the basics of the site along with its characteristics and the terminology used over the online forex platform. This makes it easy for inexperienced and novice traders to thoroughly comprehend the entire system efficiently. The assigned account managers of Easy-Forex can easily be reached anywhere between 9:00 GMT+2 to 19:00 GMT +2. Moreover, traders can also contact the customer support office 24/7.
Types of Accounts Offered by Easy-Forex
New traders can also use a demo account created through Easy-Forex’s proprietor software. This software in particular has received a number of positive comments y online traders who have used it all across the world. Its services are presently being offered in 6 different languages inclusive of German, English, Chinese, Arabic, Hebrew and Greek. The best part about Easy-Forex is that it offers traders using real money to initially understand the entire trading system through a tutorial so that they gain an understanding of how trade takes place over the internet.
Traders have multiple account variations and options to pick from at Easy-Forex. For example, the account variations at Easy-Forex range from Mini, Gold to Platinum or Tailor Made Import Export accounts. The type of account chosen by the trader would determine the attributes of the trade considering the fact that spreads and margins differ along with pip’s that go down to even 3 pips. Moreover, Easy-Forex has taken on a zero commission policy for all trades exclusive of rolling over positions on day trading to the following day.
What Else Does Easy-Forex Have To Offer?
What’s more is that several charts, a financial calendar, numerous trading tools and various plugin’s are included in the Easy-Forex platform, which makes it possible for traders to have a comprehensive overview of the entire trading world so that all of their decisions are made wisely and are fairly balanced as well.
Drawbacks of Easy-Forex
The very first drawback reported by traders is that Easy-Forex has wide spreads. Next, the only withdrawal option offered by Easy-Forex is through wire transfer. This obviously takes up a lot of time for the transaction to take place.
All in all, investing money in foreign currency is an extremely lucrative option for many, which is the reason why multitudes of people have taken it up. The entire procedure of investing money in forex has been made simple by Easy-Forex to the point that even novice traders would have no issues in doing so. If categorization is to be made, than Easy-Forex should be considered one of the best online forex brokers, which should definitely be used by not just experienced online forex traders, but fresh traders as well as it has many tools which would introduce them to the world of forex. Easy-Forex particularly persuades small investors to try out their services and see what they have to offer. First time users at Easy-Forex can easily go though the tutorials to gain a better understanding of the online trading world.