easyMarkets Singapore Review
EasyMarkets Review Singapore
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 so 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. But 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 partners 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.
Is easyMarkets legal in Singapore?
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.
What Are The Benefits Of An easyMarkets Account?
The major benefits of trading with easyMarkets in Singapore are Tight Fixed Spreads for each of your trade, No Slippage, Guaranteed StopLoss, and Negative Balance Protection. You will not find these trading conditions with most of the brokers. Negative Balance Protection helps the account balance from going negative in case of adverse market movement.
No Slippage
You get the trades at the rate you see, on easyMarkets platforms. You will never be surprised by a spread change during volatility.
Tight Fixed Spreads
As part of the easyMarkets’ Price Transparency Promise, the spreads never change during trading hours, so you always know the trading cost costs in advance.
Free Guaranteed Stop Loss
Protect yourself and your open trades against losses with Guaranteed StopLoss. A standard feature on easyMarkets Web & App Platforms.
Negative Balance Protection
Another special condition offered as a standard feature on easyMarkets accounts, ensures you are protected against negative balance when you trade.
Unique Features of easyMarkets
easyMarkets offers the DealCancellation option. It is a great feature that allows traders to undo their losing trades with 60 minutes of starting a position. It is a unique approach in the FX market that refunds a loss earned during the first 60 minutes of trading. A trader can close the trade within the 60 minutes time frame and choose this option before starting a position. DealCancellation includes a low fee of trading, with other trading conditions. It is useful for trading news events and during volatile market states. Also, traders can use this option during market hours.
As a market maker, easyMarkets offers to take profits and stop losses, which are not available with direct market access trading. ECN and STP accounts cannot assure that to fill an order at an exact market price. The reasons are market conditions and the volumes in the market choose the trading result. Even entering and exiting the market can cause high slippages, ending in both positive and negative slippages. On the other hand, easyMarkets vows to honor all orders at the market strike price with no slippages. Even leading market maker brokers cannot assure a fixed stop loss or take profit. That makes Easy Markets the best choice for those who look for lower risk in the market.
The DealCancellation feature guarantee strength against slippage. And these options are only open with the easyMarkets trading platform. When traders cancel a trade, they will get it back to their trading account.
easyMarkets Web 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.
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.
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.
Customer Service
easyMarkets online chat supports are helpful and respond to queries within 20 seconds. Also, they are efficient and willing to assist their clients.
Final Thoughts
easyMarkets offers a great multi-asset brokerage solution, with 256 symbols to trade, like over-the-counter FX options and forwards on 28 pairs. Also, the broker provides its trading platform, along with MT4, that helps it stand out from other MT4-only brokers. The brand is proud to say that it won an award as the Best in Class for Beginners in 2020. It does not only provide its users with peace of mind but also shows transparency.
The broker ensures that users can quickly and simply navigate while making trades. The platform itself has a good range of various accounts. Despite what type of trader you are, you should find something here to suit your needs. With lots of great features, it is easy to see why easyMarkets is so well-known.