Easy Forex Review – Scam or Legit?
Easy Forex is a forex broker with more than a decade long history. Headquartered in Limassol Cyprus, the firm has offices in the UK, Poland, Australia and Shanghai. Easy Forex holds the Australian Financial Services (AFS) Licence 246566 and license from Australian regulator ASIC, and the similar regulatory bodies in the EU. As of July 2010, Easy-Forex no longer accepts U.S. clients and are no longer members of the NFA.
As a forex broker that has been operating since its foundation in Cyprus in 2001, Easy Forex has grown to be one of the most reliable and well-respected firms in the industry. Due to its long history, the company has a well-established security structure that allows the customers a safe and sound trading environment. Separately from regulatory supervision clients of Easy Forex are protected from fraudulent activities by the firms employees by internal auditing.
To secure the safe transfer of client data and to guarantee the privacy of client information, Easy Forex employs the services of VeriSign and the latest secure socket layer technology. As one of the internet security businesses most powerful participants, VeriSign is one of the first choices of any firm that aims to protect client privacy. Credit card clearance and related tasks are performed through Barclaycard, another of the most trustworthy firms in the financial sector. In addition, the firm implements two layers of top class firewall systems at the server and application level to protect against unauthorized access. Two different server farms, protected by armed guards 24 hours a day, ensure the safety of client data against various hazards.
Internal auditing is performed by the Cyprus member of HLB, a global accounting and business advisory network founded in 1969, comprising of 1,500 partners and 10,800 staff in more than 100 countries in over 430 offices, according to its website.
Account Types and Deposits
Easy Forex offers a wide array of account packages and tailored to the needs and expectations of customers of different financial expertise and knowledge. In addition to the mini account that is offered to beginners and those who prefer to trade with small amounts and low leverage, the mini account is the best choice, where the minimum deposit requirement is a low $25, and the minimum transaction size is $5000.
The different leverage options range from 100:1 to 500:1, in addition to other options according to the type of account chosen. Please note that if you increase your leverage, you also increase risk.
In addition to forex, Easy Forex clients can trade a wide range of products (currencies, metals, energy and agricultural commodities, Indices and Options)
Easy Forex is quite flexible about account deposits and withdrawals. Credit card deposits are credited instantly, eliminating the necessary waiting period associated with most other brokers. It is also possible to fund your account via bank transfers.
Easy Forex prides itself on the helpful and friendly attitude of its support staff. Committed to facilitating the most comfortable introduction to the forex market, the support staff continously implements new features on the website of the firm and its trading software, in accordance with the underlying principle of user-friendliness and professionalism.
In light of this principle, Easy Forex implements live training by telephone, video tours, chat services and an online information center to aid the learning process of the beginner. In addition to the demo account, the firm even provides a one-on-one training program for new customers.
Advantages of Trading with Easy Forex
There are many advantages of trading with Easy Forex, all which cannot be mentioned in the confines of this webpage. Easy forex is a no-misquote broker, pledging to execute your orders at the exact price quoted without errors. The freeze rate feature of the trading platform, which will cancel an order unless it is executed within a few seconds, aims to prevent the errors related to web connectivity issues.
One of the most interesting features of this broker is the wide choice of base currencies, including the American, New Zealand, Singapore, Canada and Australian dollars, Norwegian Kroner, Isreali Shekel, the Euro, the Yen, and a few others. This feature negates the conversion costs associated with deposits and withdrawals.
The Inside Viewer tool and the Trade Controller are also two of the unique offerings of the broker. The Inside Viewer allows you to see the positioning of your fellow traders at Easy Forex, while the Trade Controller visualizes various profit/loss scenarios on the interface.
Easy Forex utilizes a web-based interface for trading. You don’t need to download or setup any program, as your web browser will automatically run the Easy Forex platform from the firms website.
The industry leading and popular MetaTrader4 platforms is also available.
24 hours a day, 7 days a week access to the platform and online trading every day except Sundays using the multilanguage platform results in a joyous trading experience. Real-time account updates, support tools including charting services, economic data, technical analysis tools and news flows supplied by Reuters, are all incorporated to the basic package.
Easy Forex has been a major player in the online retail forex brokerage industry for almost ten years. During this long period, this budding industry has witnessed a number of frauds, bankruptcies, along with technical innovations and advances. Easy Forex has been immune to all these scandals and credibility issues and has been at the forefront of innovation. Regulated in many different parts of the world and audited by reputable and reliable international institutions, the firm stives to ensure client security by remaining up-to-date with the latest industrywide security standards.