easyMarkets is essentially unknown in South Africa and is allowed to supply its services here, but isn’t necessarily specialized within the South African market. Is it worthwhile to possess the Cypriot broker on your radar anyway?
What trading offer does easyMarkets South Africa offer?
EasyMarkets focuses on trading Forex and CFDs. The broker offers a really extensive selection:
- 135 currency pairs via the commodity exchange
- Almost 50 currency pairs as vanilla options
- 45 currency pairs via FX forwards
- USD index via CFDs
- More than 300 underlyings in Forex trading
- Gold, silver, platinum, palladium, copper via commodity exchange or via CFDs
- Brent, fuel oil, crude oil, gas or agricultural commodities via CFDs
- 14 indices
- Various vanilla options, including for the seven majors, exotic, silver and gold
The broker thus offers a really nice selection that’s particularly convincing within the area of forex trading. Traders who specialise in this and only want to trade the opposite most vital underlyings via CFDs are going to be quite satisfied here. But even investors whose specialty are CFDs are unlikely to miss any underlyings. the sole exception to the present is stock CFDs that the broker doesn’t have within the program in the least.
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easyMarkets isn’t necessarily characterized by the foremost favourable online forex trading conditions. However, the spreads start at a reasonably low level. The broker himself states that his spreads start at the subsequent costs:
- USD / JPY: 0.026
- EUR / USD: 0.00018
- USD / GBP: 0.0030
- Gold: 0.50
- Silver: 0.05
- US 500: 0.075
- Germany 30: 2.0
However, these are minimum spreads, and therefore the actual costs are accordingly often higher. within the past, investors have often complained that the spreads at easyMarkets compared to other brokers are literally well above average under real market conditions.
The broker also offers different spreads in several account models. consistent with information from easyMarkets, the spreads within the standard account start at 3 pips, within the standard 1 pip account and 1 pip within the VIP account.
What conditions do investors need to consider?
A minimum of USD 100 is required to open an account. However, investors get significantly more favorable terms and more service for as little as 250 US dollars. Opening a VIP account requires $ 2,500. The minimum trading amount in Forex is $ 5,000.
EasyMarkets only charges an inactivity fee from the 12th month. Customers then need to pay additional fees of $ 25 per month. However, if the account doesn’t have any credit, it’ll not be charged. Customers don’t need to worry that an unused account at easyMarkets will end in high follow-up costs.
Investors must also note that the broker secures the proper to debit certain costs from the mastercard through the terms and conditions. This includes fees that aren’t covered by the account balance, as can occur, for instance, with roll-over fees. The broker will in fact inform you about the corresponding fees beforehand. During this way, you’ll also prevent the margin from decreasing an excessive amount of and thus making it necessary to shut positions.
The broker waives the requirement to form additional payments and also offers free, guaranteed stop-loss orders. Scalping and hedging are among the prohibited activities which will cause exclusion. an equivalent applies to the utilization of particularly high leverage and a glance at the terms and conditions also reveals that news trading is merely permitted to a really limited extent. In some cases, this provision is primarily intended to guard the corporate, in order that the guaranteed stop-loss and therefore the waiver of the requirement to form additional contributions can’t be exploited.
The trading platform
easyMarkets offers two different trading platforms. On the one hand, investors can fall back on the proven MetaTrader 4, which most traders concede to be the simplest trading software on the market anyway. Numerous functions, tools and, above all, the outstanding community make sure that chart analysts especially are fans of the software.
In addition, easyMarkets also offers the easyMarkets trading platform. All of the underlyings offered can only be traded here, while the choice in MetaTrader is slightly limited. The software enables spot trading and glued spreads and guarantees that no slippage occurs. The platform also offers the dealCancellation feature and guaranteed stop loss. It also offers one-click trading and extensive analysis options.
The easyMarkets app is out there for all investors who want to trade CFD and Forex on the go. it’s available freed from charge from the AppStore and GooglePlay. It offers the likelihood to watch the markets in real time, to use the worth alarm or to deposit and withdraw money.
The broker offers an entire range of payment methods for deposits. Additionally, to credit cards and bank transfers, the eWallet providers Neteller, Skrill and WebMoney also are available for deposits. Immediate transfer and Giropay complete the offer. All payment methods don’t cause any longer fees for the customer.
easyMarkets was previously called EasyForex and has also gained a replacement reputation with the new name. the ecu branch is reputable because of the CySEC license. Unfortunately, the broker doesn’t always achieve the low spreads that they advertise. However, this is often quite common, after all, these are optimal conditions that can’t prevail in the least times.
At easyMarkets South Africa, traders get access to numerous interesting and innovative features, which should nevertheless be used with care and by no means enable completely risk-free trades. Since the broker has already excelled within the past with interesting functions and features, investors also can anticipate to what the manufacturers will come up with within the future. the various innovations and new products are definitely one among the company’s unique selling points, which make the broker particularly interesting for beginners.
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