easyMarkets Singapore Review
Overview
easyMarkets, before known as easy-Forex, is a broker based in Cyprus. It is under the regulation of the Cyprus Securities and Exchange Commission (CySEC). During its early years, easy-Forex was well-known in the retail FX market. The recent rebranding drives the firm to streamline its services based on the latest market terms. The broker has reached more than 120 countries worldwide. For many years, it has been a leading player in the US, European, Australian, and Asian financial markets. Because of the growth of regulatory terms that stop worldwide FX brokers from serving in some jurisdictions. easyMarkets now only caters to traders from Europe, Asia, Africa, the Middle East, and Latin & Central America.
CySEC offers the safety of funds against broker scams. It is partner with the European Central Bank and other European authorities. CySEC Forex brokers can work in any part of the EU with a legit CySEC license. And it allows easyMarkets to offer its services to traders from the EU. But, it has to follow all the rules of financial firms serving in the EU. That holds guarding traders through investor return funds. All client funds are separate from company funds and are kept safe in top-tier global banks. It means that traders who choose easyMarkets are safe. Their money is safe with the broker.
easyMarkets is registered as EF Worldwide Ltd (British Virgin Islands Financial Services Commission – License Number SIBA/L/20/1135) for its international operation including Singapore.
Account Types
Standard Account: This type of account is ideal for traders of all levels who are looking to start trading in the Forex and CFD markets. It provides access to multiple markets including FX, commodities, indices, stocks, and digital options. It offers tight spreads, low commissions, fast execution, and a variety of methods to deposit and withdraw funds.
- 24/5 customer service
- Live market news and analysis
- Guaranteed stop-loss
- Spreads from 1.8 pips
- No commission
- Swap charges
- Minimum deposit: $100
Premium Account: Designed for experienced traders who are looking to maximize their profits. It features all the benefits of a Standard Account but with lower spreads and commissions, as well as access to exclusive trading tools and services.
- The same features as the Standard Account
- Unlimited free withdrawals
- Access to exclusive webinars
- Personal account manager
- Spreads from 0.9 pips
- No commission
- Swap charges
- Minimum deposit: $2,000
VIP Account: This is the ultimate trading account for experienced traders who want to take their trading to the next level. It offers all the benefits of a Premium Account but with even lower spreads and commissions, as well as access to exclusive trading tools and services.
- Access to exclusive VIP webinars
- Dedicated account manager
- Priority in customer service
- Spreads from 0.6 pips
- No commission
- Swap charges
- Minimum deposit: $20,000
Demo Account: For traders who are new to trading in the Forex and CFD markets. It provides access to the same markets as a Standard Account but with virtual funds instead of real money. This allows traders to test out their strategies and develop confidence in the markets before committing to real funds.
- Access to the easyMarkets trading platform
- Live market news and analysis
- Ability to trade with virtual funds
- No fees
- No minimum deposit
Trading Assets
- Forex (Foreign Exchange): Currencies, such as the US Dollar, Euro, Japanese Yen, British Pound, and Swiss Franc, as well as a range of other currencies.
- CFDs (Contracts for Difference): Derivatives that allow traders to speculate on the movement of an underlying asset, such as a currency pair, stock index, or commodity, without owning the underlying asset.
- Commodities: Raw materials, such as gold, silver, crude oil, natural gas, corn, and wheat.
- Precious Metals: Gold, silver, platinum, and palladium.
- Cryptocurrencies: Digital currencies based on blockchain technology, such as Bitcoin, Ethereum, Litecoin, and Ripple.
- Shares: Equity securities traded on major stock exchanges, such as the New York Stock Exchange, London Stock Exchange, and NASDAQ.
- Indices: Benchmark stock market indices, such as the S&P 500 Index, NASDAQ Composite Index, and Dow Jones Industrial Average.
Open Free Demo Trading Account
Trading Platform
Traders can access the Forex markets through an online interface that does not need installation. You can access it using any device, such as desktop and mobile. Also, it offers the latest state-of-the-art SSL security for a safe trading experience. The platform also gives access to some financial products like Forex, metals, commodities, indices, options, and CFDs. Traders can get market news, technical analysis, daily outlooks right through the platform.
Traders can also choose to download the MT4 terminal for their trading needs. The MT4 misses out on some proprietary easyMarkets features. These are access to a trading platform, trading straight from the charts, EA trading, and Multi-Terminal trading. You can access the mobile app through iOS and Android devices. easyMarkets does have a stable and high-speed trading experience, which has proved order review policies on both trading platforms.
Trading Tools
easyTrade
A revolutionary tool that enables traders to open and close positions in a single click.
dealCancellation
A risk management tool that allows traders to cancel trades within a certain time frame in order to limit losses.
Freeze Rate
A tool that enables traders to temporarily freeze the rate of a currency pair in order to protect themselves from price fluctuations.
Trading Conditions
- Negative Balance Protection – This means that traders will never owe the broker more than their original deposit.
- Guaranteed Stop-Loss – Traders can set a maximum loss limit on their trades, and their trades will be automatically closed if this limit is reached.
- No Slippage – Traders will always get the price they expect when they place a trade.
- Fixed Spreads – meaning that the spread does not fluctuate with market conditions. This allows traders to accurately calculate their cost of trading.
Deposit and Withdrawal Options
EasyMarkets offers a variety of deposit and withdrawal options. These include bank wire transfers, credit/debit cards, Skrill, Neteller, and more.
Fees – Depositing funds into an easyMarkets account is free. However, certain withdrawal methods may be subject to fees, such as a 3.5% fee for credit/debit card withdrawals.
Processing Time – The processing time for deposits and withdrawals varies depending on the payment method used. Generally, most deposits will be processed instantly, while withdrawals may take anywhere from 1-7 business days to process.
Refer a Friend Bonus
The broker also offers other perks like a refer-a-friend and other programs. But, all of these have trading terms and conditions. And it may cause strict constraints on your trading capital.
easyMarkets offer a demo account available to all traders. It is useful to both new and expert traders. The demo account comes pre-loaded with £10,000 in virtual funds. And great for those who want to test strategies. The demo account allows users to hone their trading skills before spending real money. And the idea is to give users an experience of how the live thing works.
The firm can be a great choice, especially for those who are new to trading. easyMarkets is also known for its beginner-friendly features to lure even expert traders. It gives its users with peace of mind and safety. No matter what type of trader you are, you should find something here to meet your needs. With so many benefits, it’s easy to say why easyMarkets is so well-known. Open an account and trade with a demo account to check these services.
Deposit Options & Bonuses
As the first investment, the broker requires a minimum of $100. The maximum easyMarkets leverage is 1:400. KNF, which is a Polish authority, lessens it for Polish traders. Polish traders can only use a maximum of 1:100. Aside from that, all other trading conditions are the same for all account holders. It includes an average spread that starts from 1.8 pips. At easyMarkets, the cost of FX trading is slightly higher than other market maker brokers. But easyMarkets offer a range of options and best features to keep their clients engaged.
Traders with a large investment can open a VIP account by making a minimum deposit of $20,000. It includes an account manager, tighter spreads, more customized trading options, and a better trading atmosphere. The broker design this to draw expert traders. Most traders look for ECN conditions for larger account equities. It is to avoid any issues with their brokers. If you are looking for fixed spread trading conditions, easyMarkets is the best choice for you. For a maximum amount of $2000, you will receive the full 50% bonus.
Is easyMarkets a Legal Forex Broker?
Yes, Forex trading is absolutely legal in Singapore. easyMarkets is one of the leading Forex brokers with more than 20 years of service in the market. It is legal to trade Forex with easyMarkets in Singapore. EasyMarkets is registered as EF Worldwide Ltd (British Virgin Islands Financial Services Commission – License Number SIBA/L/20/1135) for its international operations. It also complies with regulators in other countries for its operations.
Conclusion
Overall, easyMarkets Singapore provides an easy-to-use and reliable trading platform with a wide range of features, tools, and resources. Its trading conditions are competitive, and the customer service is also excellent. The trading platform is highly secure and regulated, and the fees are also very reasonable. All in all, easyMarkets Singapore is an excellent choice for traders who are looking to enter the world of online trading.