Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information

What is Easy Forex？

Easy Forex, now known as easyMarkets, is an online forex and CFD broker that provides trading services to individual and institutional traders. It was established in 2001 and is regulated by the Cyprus Securities and Exchange Commission (CYSEC). Easy Forex offers a variety of trading instruments, including forex, commodities, metals, indices, options, cryptocurrencies, and shares, and provides access to multiple trading platforms such as easyMarkets platform (web/app), TradingView, MT4, and MT5. The broker aims to provide a user-friendly trading experience and offers various features like risk management tools and educational resources.

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

3. Pros & Cons

Easy Forex offers a regulated and trustworthy trading environment, providing a wide range of trading instruments and user-friendly platforms. The inclusion of risk management tools and educational resources further enhances the trading experience.

However, there have been reports of scams and negative user experiences that should be taken into consideration. Traders should weigh these pros and cons carefully and conduct thorough research before deciding to trade with Easy Forex.

Easy Forex Alternative Brokers

There are many alternative brokers to Easy Forex depending on the specific needs and preferences of the trader. Some popular options include:

• OctaFX - a reputable broker with competitive trading conditions and a wide range of trading instruments, making it a good choice for traders looking for diverse trading opportunities.

• Darwinex - stands out with its innovative concept of “trading talent” and offers a unique platform for both traders and investors to benefit from each other's success.

• Hantec Markets - a reliable broker with a strong reputation and a comprehensive range of trading platforms, making it suitable for traders of all levels seeking a trustworthy trading environment.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is Easy Forex Safe or Scam？

Easy Forex, being regulated by the Cyprus Securities and Exchange Commission (CYSEC) and holding a valid license (No. 079/07), operates under the supervision and guidelines set by a reputable regulatory authority. The provision of Free Guaranteed Stop Loss and Negative Balance Protection further emphasizes their commitment to client protection. However, it is essential to conduct thorough research and exercise caution when engaging with any financial service provider, as risks are inherent in trading activities.

Market Instruments

Easy Forex provides a diverse range of market instruments, catering to the trading preferences of its clients. Traders can access the global Forex market, allowing them to trade major, minor, and exotic currency pairs. Additionally, Easy Forex offers commodities, such as gold, silver, crude oil, and natural gas, enabling investors to participate in the movements of these essential resources.

The platform also provides access to various global indices, allowing traders to speculate on the performance of leading stock market indices worldwide. Moreover, Easy Forex offers options, cryptocurrencies, and shares, further expanding the trading opportunities available to its clients. With such a broad selection of market instruments, traders can diversify their portfolios and take advantage of various market opportunities.

Accounts

Easy Forex offers a range of account types to suit the trading needs and preferences of different traders. On the easyMarkets Web/App and TradingView platforms, traders can choose between Standard, Premium, and VIP accounts. These accounts provide varying features and benefits, with the minimum deposit requirement starting at $25 for the Standard account.

For those who prefer the MT4 platform, Easy Forex also offers Standard, Premium, and VIP accounts, with the same minimum deposit requirements as the easyMarkets Web/App and TradingView accounts. Additionally, there is a single account type available on the MT5 platform.

The availability of different account types allows traders to select the account that best aligns with their trading goals, risk tolerance, and investment capital. Furthermore, Easy Forex provides demo accounts, allowing traders to practice and familiarize themselves with the platform's features before trading with real funds.

Leverage

Easy Forex provides competitive leverage options to its traders across different trading platforms. On the easyMarkets Web/App and TradingView platforms, traders can access leverage up to 1:200. This means that for every $1 of capital, traders can trade with $200 in the market. For traders who prefer the MT4 platform, Easy Forex offers leverage up to 1:400, allowing for even greater exposure to the markets. On the MT5 platform, traders can enjoy leverage up to 1:500, offering enhanced trading opportunities.

It's important to note that while leverage can amplify potential profits, it also increases the risk of losses. Therefore, traders should exercise caution and employ risk management strategies when utilizing leverage in their trading activities. Easy Forex's range of leverage options caters to different trading styles and risk preferences, allowing traders to make informed decisions based on their individual trading strategies.

Spreads & Commissions

Easy Forex offers competitive spreads across its trading platforms, ensuring cost-effective trading for its clients. When trading the popular EUR/USD currency pair, the spread varies depending on the platform chosen. On the easyMarkets Web/App and TradingView platform, the spread is fixed from 0.8 pips, providing traders with transparency and consistency in their trading costs. For those using the MT4 platform, the spread is fixed from 0.7 pips, offering competitive pricing for this major currency pair. On the MT5 platform, the spread is variable from 0.5 pips, allowing traders to potentially benefit from tighter spreads during times of increased market liquidity.

It's worth noting that Easy Forex does not charge any commissions on trades, ensuring that traders can focus on their trading strategies without incurring additional costs. By providing competitive spreads and commission-free trading, Easy Forex aims to offer a cost-effective trading environment to its clients.

Below is a comparison table about spreads and commissions charged by different brokers:

Please note that these figures are indicative and may vary depending on market conditions and account types. It's always recommended to check with the respective brokers for the most up-to-date and accurate information regarding spreads and commissions.

Trading Platforms

Easy Forex provides its clients with a diverse range of trading platforms, catering to different preferences and trading styles. The easyMarkets platform, available on both web and mobile applications, offers a user-friendly interface and a wide range of trading tools. It provides access to a variety of financial instruments and features advanced risk management tools like free guaranteed stop loss and take profit.

TradingView, a popular charting and analysis platform, is also supported by Easy Forex, allowing traders to analyze markets, access advanced technical indicators, and execute trades directly from the platform. For those who prefer the widely used MetaTrader platforms, Easy Forex offers both MT4 and MT5.

These platforms provide comprehensive charting capabilities, customizable indicators, and automated trading options. With a selection of trading platforms, Easy Forex aims to cater to the diverse needs of traders and provide them with a seamless and feature-rich trading experience.

Overall, Easy Forex's trading platforms are well-designed, user-friendly, and offer a range of advanced features suitable for both beginner and experienced traders. See the trading platform comparison table below:

Trading Tools

Easy Forex offers a comprehensive suite of trading tools designed to enhance the trading experience and help traders make informed decisions. The dealCancellation feature allows traders to cancel losing trades within a specific time frame, providing an extra layer of protection against potential losses. The Freeze Rate tool enables traders to freeze the quoted rate for a few seconds, giving them time to analyze the market before executing a trade.

Negative Balance Protection ensures that traders cannot lose more than their initial investment, safeguarding them from excessive losses. The platform also provides a range of order types, including pending orders, which allow traders to set specific entry and exit levels for their trades. Additionally, Easy Forex offers free guaranteed stop loss and take profit levels, providing traders with added control over their risk management.

Traders can also stay informed about market developments through various tools, including notifications, live currency rates, an inside viewer to see the sentiment of other traders, trading charts, a financial calendar, and market news updates.

Furthermore, Easy Forex provides a demo account, allowing traders to practice their strategies and familiarize themselves with the platform without risking real money. With a wide array of trading tools, Easy Forex aims to empower traders with the necessary resources to make well-informed trading decisions.

Deposits & Withdrawals

Easy Forex provides a wide range of convenient and secure payment methods for both deposits and withdrawals. Clients can fund their accounts using credit/debit cards such as Visa, MasterCard, and Maestro, as well as popular e-wallets including Neteller, Skrill, Fasapay (available for Indonesia), Local Deposit (available for Egypt), Sticpay, WebMoney, bitwallet, and Perfect Money.

Account currencies:

Euro (EUR), Canadian Dollar (CAD), Czech Koruna (CZK), Japanese Yen (JPY), New Zealand Dollar (NZD), U.S. Dollar (USD), Singapore Dollar (SGD), Swiss Franc (CHF), British Pound (GBP), Mexican Peso (MXN), Australian Dollar (AUD), Polish Zloty (PLN), Turkish Lira (TRY), Chinese Yuan (CNY), Hong Kong Dollar (HKD), Norwegian Krone (NOK), Swedish Krona (SEK), South African Rand (ZAR), Bitcoin (BTC)

Easy Forex minimum deposit vs other brokers

The broker does not charge any fees for deposits, and most deposits are processed instantly, allowing traders to start trading without delays.

For withdrawals, there is no minimum withdrawal amount for credit/debit cards and eWallets, while a minimum of $50 is required for bank account withdrawals. Easy Forex aims to process all withdrawal requests within 2 business days (48 hours). However, the actual time it takes for the funds to reach the client's bank account may vary depending on the final destination and the processing times of the recipient's bank, typically ranging from 3 to 10 business days.

See the deposit/withdrawal fee comparison table below:

Customer Service

Easy Forex prioritizes excellent customer service and provides multiple channels for clients to reach out for support. The broker offers live chat, WhatsApp, and the option to request a callback, ensuring prompt and direct communication with their customer service representatives. Clients can also send messages online or reach out via email for assistance with their inquiries.

The broker's website includes a comprehensive FAQ section, which addresses common queries and provides helpful information. Easy Forex maintains an active presence on various social media platforms, including Twitter, Facebook, Instagram, YouTube, LinkedIn, and Weibo, allowing clients to stay updated on news, educational content, and market insights. The company address is openly provided, demonstrating transparency and accessibility.

With their commitment to responsive customer service, Easy Forex aims to provide a seamless and supportive trading experience for their clients.

Note: These pros and cons are subjective and may vary depending on the individual's experience with Easy Forex's customer service.

User Exposure on WikiFX

On our website, you can see that some users have reported scams. Please be aware and exercise caution when investing. Our website provides a platform where users can access valuable information and resources to make informed decisions. We have a dedicated Exposure section where users can report fraudulent brokers or share their experiences if they have fallen victim to scams.

Our team of experts is committed to promptly addressing such concerns and taking necessary actions to resolve any issues. We prioritize the safety and satisfaction of our users, and we strive to maintain a trustworthy and transparent trading environment.

Education

A series of educational resources is available at the research section of Easy Forex, such as a comprehensive Trading Course, Free eBooks, and a Knowledge Base. These resources aim to empower traders with the necessary knowledge and skills to make informed trading decisions.

Additionally, the Trading Glossary helps traders familiarize themselves with industry-specific terms, while the Economic Indicators provide insights into key economic events that can impact the financial markets. The FAQs section addresses common queries and concerns, ensuring that traders have access to relevant information at their fingertips. With its robust educational offerings, Easy Forex strives to equip traders with the tools they need to enhance their trading skills and stay informed in the dynamic world of financial markets.

Conclusion

Collectively, Easy Forex is a regulated broker that offers a variety of trading instruments, user-friendly platforms, and valuable trading tools. The broker's commitment to risk management and customer protection is evident through features like guaranteed stop loss and negative balance protection. However, there have been reports of scams associated with Easy Forex. Traders should exercise caution and conduct thorough research before choosing to trade with Easy Forex.

Frequently Asked Questions (FAQs)

Overview of Forex Club

Forex Club is a regulated online forex broker based in Saint Vincent and the Grenadines. The company is licensed and regulated by the National Bank of the Republic of Belarus (NBRB), providing a level of credibility and trustworthiness. Forex Club offers a diverse range of market instruments, including forex, commodities, indices, and cryptocurrencies, and has a low minimum deposit requirement of $10. The broker supports multiple trading platforms, including their proprietary Forex Club Terminal, MetaTrader4, and MetaTrader5. They also offer a demo account for traders to practice and familiarize themselves with the platform. However, Forex Club has some disadvantages, such as limited customer support only through email, a lack of comprehensive educational resources, and a lack of information on specific account types. Overall, while Forex Club provides decent offerings, there are more comprehensive options available in the market.

Is Forex Club legit or a scam？

Forex Club is a regulated online forex broker operating in Belarus. The company is licensed and regulated by the National Bank of the Republic of Belarus (NBRB). Its license number is 192580558. The NBRB is the regulatory agency responsible for overseeing financial institutions and ensuring compliance with regulations in Belarus. As a regulated broker, Forex Club is required to adhere to strict guidelines and standards set by the NBRB to provide a safe and secure trading environment for its clients. Traders can have confidence in the integrity and reliability of Forex Club's operations, knowing that the broker operates under the supervision of a reputable regulatory authority.

Pros and Cons

Forex Club has a diverse range of market instruments, providing traders with multiple options to choose from. Additionally, the broker offers a selection of trading platforms, giving users the flexibility to trade on their preferred interface. One advantage is that Forex Club operates under the regulation of NBRB, which ensures a level of trust and security for traders. Moreover, the low minimum deposit requirement of $10 makes it accessible for individuals with smaller capital to enter the market. To assist traders in honing their skills, Forex Club provides a demo account where they can practice and familiarize themselves with the platform. On a positive note, Forex Club offers commission-free investments in real stocks, allowing traders to save on trading fees. Additionally, the broker supports various deposit methods, providing convenience and flexibility for clients to fund their trading accounts.

However, it is important to note some drawbacks. Customer support is limited to email, which may cause delays in resolving issues and addressing concerns. Moreover, the educational resources provided by Forex Club are relatively limited, which may be a disadvantage for traders seeking in-depth learning materials and educational tools. Another drawback is the lack of information on specific account types, which may leave traders uncertain about the options available to them.

Market Instruments

Forex Club provides you with the most popular trading products on the market, including Stock, foreign exchange, precious metal, index, agricultural products, Crude oil and natural gas, and ETF Online Trading.

Forex

Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

Commodities

Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.

Indices

Equity, or stock indices, are actual stock market indexes which measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.

Precious metals

The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.

Energy

The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions, and global economic growth.

Minimum Deposit

Forex Club has a minimum deposit requirement of only $10. This minimum deposit amount was equivalent to ZAR 160 at an average current exchange rate between the US Dollar and the South African Rand at the time of writing. Forex Club allows traders to fund their accounts via several different methods.

Demo Account

Forex Club offers demo accounts with €50,000 in virtual money, accessible through web and mobile apps. When registering for a demo account, users also sign up for a real account, but they need to make a deposit to access it. Switching between demo mode and real mode on the Forex Club website or app is simple, enabling users to capitalize on quickly changing market conditions.

How to Open an Account？

To open an account with Forex Club, please follow these steps:

1. Visit the official website of Forex Club, which is https://fc-official.com/.

2. On the homepage, locate and click on the “Open an Account” or “Register” button. This will typically be displayed prominently on the website.

3. You will be redirected to the account registration page. Here, you will need to provide your personal information, such as your full name, email address, phone number, and country of residence. Ensure that all the information you provide is accurate and up to date.

4. Next, you will be prompted to choose the type of trading account you wish to open. Forex Club may offer different account types.

5. Once you have chosen your account type, you will need to agree to the terms and conditions of Forex Club.

6. Once your account has been successfully registered and verified, you will receive login credentials, including a username and password.

7. Log in to your Forex Club account using the provided credentials.

8. After logging in and setting up the trading platform, you can fund your account by choosing from the available payment methods provided by Forex Club.

Spreads & Commissions

Forex Club offers competitive spreads starting from 0 pips. Instead of charging spreads, the broker has opted to charge commissions on trades. Traders should carefully review the terms and conditions to understand the commission percentages and factors that may influence these changes.

Additional Trading Fees

Joining Forex Club is free, and there are no monthly trading fees. The only fees associated with trading are the commissions mentioned earlier. However, it's important to note that when trading financial instruments like forex, there may be additional charges such as overnight fees or swap fees when positions are held for longer than one trading day. Traders should be aware of these potential fees and factor them into their trading strategy.

Trading Platform

Forex Club offers three trading platforms, its proprietary Forex Club terminal, as well as popular and well-known trading platforms on the market, including Meta Trader 4 and Meta Trader 5.

Forex Club terminal can easily invest and make money anywhere in the world, and quickly withdraw profits online.

Meta Trader 4 is considered the most popular trading platform in the world. Whether you are an experienced trader or want to maximize your trading profits, this platform is the best platform for you to trade.

Meta Trader 5 is the latest version of the most popular forex trading software. In the new version of the MT5 terminal, in addition to traditional foreign exchange currency pair transactions, you can also trade stocks, indices, crude oil & natural gas, agricultural products, digital cryptocurrencies, ETFs, and metals.

Deposit & Withdrawal

Forex Club offers traders various deposit methods which can be used when funding accounts. Withdrawals usually must be returned by the same method used to deposit and to the same bank account. Most deposit methods are processed instantly except for bank transfers that can take several hours on occasion. Traders must ensure that they verify whether their financial institution charges its own fees. Deposit into/Withdrawal from the Forex Club can be done in the following ways: Bank transfers, VISA, JCB, Alipay, Wechat pay, or Skrill.

Customer Support

The team at Forex Club strives tirelessly to ensure that traders have access to all the necessary information to effectively navigate and utilize their platform, thus maximizing their benefits. In the event that traders encounter any queries or concerns, they can always reach out to the dedicated customer support team. Simply send an email to support-china@fxclub.org, and rest assured that a response will be provided within one working day. It is important to note, however, that the customer support services offered by Forex Club are solely limited to email correspondence.

Educational Resources

Forex Club provides a range of educational resources, including three types: live online sessions, training courses, and daily faculty information. These resources are designed to offer valuable insights and knowledge to traders. The training courses are developed and regularly updated to align with the current market realities, ensuring that traders receive the most relevant information. The Investment Academy's faculty and experts actively share their experiences and expertise through these courses, providing valuable guidance to traders.

Conclusion

Forex Club is a regulated forex broker based in Saint Vincent and the Grenadines. It is licensed and regulated by the National Bank of the Republic of Belarus (NBRB). It offers a diverse range of market instruments, including forex, commodities, indices, and cryptocurrencies, with a low minimum deposit requirement of $10. It supports multiple trading platforms, and provides a demo account for practice. However, Forex Club has limited customer support through email, lacks comprehensive educational resources, and provides little information on specific account types. The in-house trading platform may not match the standards of some competitors.

FAQs

Q: Is Forex Club a legitimate broker or a scam？

A: Forex Club is a regulated online forex broker authorized by the National Bank of the Republic of Belarus (NBRB).

Q: What is the minimum deposit requirement for Forex Club？

A: Forex Club has a minimum deposit requirement of only $10.

Q: Does Forex Club provide a demo account？

A: Yes, Forex Club offers demo accounts with €50,000 in virtual money.

Q: What trading platforms does Forex Club offer？

A: Forex Club provides three trading platforms: their proprietary Forex Club terminal, MetaTrader4 (MT4), and MetaTrader5 (MT5).

Q: What are the deposit and withdrawal methods available at Forex Club？

A: Forex Club offers various deposit methods, including bank transfers, VISA, JCB, Alipay, Wechat pay, and Skrill.

Q: How can I contact customer support at Forex Club？

A: Forex Club offers customer support via email: support-china@fxclub.org.

Q: Is this broker well regulated？

A: Yes, it is currently effectively regulated by NBRB.