EasyMarkets is a market maker CFD broker that offers fixed forex spreads starting at 0.9 pips. They are accessible due to low costs, no inactivity fees, a wide range of base currencies, and features suitable for traders of all skill levels. A highly trusted broker regulated by two full bodies, they have won 37 awards in nearly 20 years in the business.
Because of this regulation and transparency, they can provide the best fund protection to EU traders and others while also providing a very flexible trading environment. In this easyMarkets review, a good selection of account types is available, including an unlimited demo account and a standard type. Trading methods such as scalping, hedging, algo trading and using VPS are also permitted, though the broker does not provide its own VPS.
Pros and Cons
Pros
On the other hand, there are numerous EasyMarkets benefits to consider. Among these are the numerous base currencies that they provide. This saves you money on unnecessary currency conversion fees. They also do not charge an inactivity fee, which is ideal for casual traders.
EasyMarkets also has a couple of unique features. These include the “Freeze Rate” feature, which can temporarily freeze an asset’s price in a volatile market, and the “Deal Cancellation” feature, which sometimes allows you to cancel and refund a losing position for a small fee.
Cons
Starting with the disadvantages, the main point that may cause you concern is that EasyMarkets is a market maker. They also only provide a fixed spread. Just make sure to read all of the signup documentation before you begin trading.
The next point to mention is that they do not have a particularly large asset selection, at least not as big as you would expect from such a large broker, and a point to consider, particularly for more experienced traders, is that, despite a good education section, they only have a limited research area and features.
Account Types
EasyMarkets offers a variety of account types from which to choose. Two of them are listed below.
Demo
A demo account with any broker is an excellent place to begin. You will be able to trade with virtual currency, which means no risk, but in an account that functions like a live one. It is an excellent place to learn how to trade, and there is no requirement to deposit any real money after trading.
The EasyMarkets demo account is limitless, so you never have to close it, and it is extremely simple to set up. All you need is a valid email address and a password. Then you’re done.
EasyMarkets Standard Account
For many EasyMarkets clients, the best option is the standard account. This account type, like others, can be opened with a minimum deposit of $25 and a forex spread that is always competitive. This spread starts at just one pip.
There is no slippage when trading on the EasyMarkets Standard account because the trades are executed quickly. All trading on this type of account is done through the web trader, which is very convenient.
Best Forex Trading Platforms In Australia: Reviewed
Australian currency trading has flourished in 2022 thanks to the country’s well-regulated financial industry. With approximately 70 forex brokers holding Australian Financial Services licenses, Forex is the most liquid market in Australia’s financial sector. But what is the finest platform for foreign exchange trading? There are a variety of forex trading platforms in australia, and it is ultimately up to you to choose the one that is ideal for you.
- Etoro:
Etoro is an international network of offices in Australia, Cyprus, Israel, and the United Kingdom that facilitates social trading and the trading of multiple assets.
The company began in 2007 with the goal of making online trading accessible to anyone with varying levels of expertise in the financial markets.
When it comes to foreign exchange trading in Australia, Etoro is your best bet due to its user-friendliness, breadth of available markets, and cutting-edge features like copy trading and social trading.
Aside from a large selection of CFDs, it also provides access to 17 other cryptocurrencies, such as Bitcoin, Ethereum, and Ripple.
- Learn from the trades of other successful investors and model your portfolio after theirs
- Learn from the trading world’s collective wisdom.
- Deposit and withdraw via PayPal, bank transfer, or credit/debit card
- Get zero-percent transaction fees when you invest in stocks, ETFs, commodities, and digital currencies.
- AvaTrade
AvaTrade is a well-established online forex and CFD broker in Australia, with a reputation for customer assistance, affordable fees and spreads. It is governed by ASIC and two other tier-1 and three other tier-2 authorities.
The straightforwardness and user-friendliness of AvaTrade are two of the reasons we enjoy it. With its user-friendly interface, low minimum deposit requirements, and robust suite of risk management features, it’s an ideal spot for novice forex traders to get their feet wet in the global currency exchange market.
- Choice of 5 trading platforms
- In-person presence in Australia
- Create a free trial account today!Â
- A large number of available add-ons
- There will be no charges for periods of non-use.Â
- Facilitation all trading needs, from the ground up
- Excellent fees and trading conditions
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