How a Forex system operates in real time
Foreign exchange trading up until only a few years ago was generally conducted by banks and large financial institutions. When easyMarkets® began in 2003 it was one of the few companies to offer Forex to individual consumers. Through its online Forex trading platform, easyMarkets made currency trading even more accessible to the general public.
Since those early days, many new players have entered the Forex market place with their own online platforms. For someone looking to get into currency trading for the first time, or for the more experienced trader, there are a number of considerations about which online Forex platform to choose.
When choosing a Forex broker or platform, there are many aspects to take into consideration and questions to ask of them.
Personal account management
Is anybody there? Are there real people behind the phone (or the e-mail box)? Do I have a one-on-one relationship with an individual who knows my account and is able to provide continuity of service online?
Our team members are available to you at all times. Account Managers work closely with you, particularly through your training period. Personal Analyst are available to High Value clients. You can reach your Account Manager or Personal Analyst by phone, email or over the advanced online CHAT system available on the easy-forex® online trading platform. Depending on your location, you can also visit a regional office to meet in person.
Live training and one-on-one help
Do they offer professional assistance and tools? easy-forex® offers background information about the Forex market, video tours to guide you in your trading, seminars, one-on-one personal training, CHAT, telephone support, as well as other assistance tools. You are never left alone to trade without help. Moreover, your Account Service Manager will guide you live in your first trading steps, to help you get acquainted with the easy-forex® system, and will answer all of your technical questions.
Guaranteed Rates and Stop Loss
Is it “around” or “near” the rate I set, or exactly on it? easyMarkets guarantees your Stop Loss Forex rate by using the latest technologies. You will not lose more than the margin risked by the Stop Loss rate you choose.
The same principle holds true for any Take Profit rate you set. Your deal will close automatically on the Take Profit rate you define. Needless to say, you can change both Stop Loss and Take Profit rates at any time while a deal remains open.
Is the online Forex trading platform friendly and easy to use? Do I need to download any software? Am I restricted to a specific computer terminal?
The easy-forex® Visual Trading Machine® platform was one of the first Forex platform’s that enabled users to trade online with no software download. This means you can login to your account from anywhere – whether it’s from your home, office or an internet café. Read about the benefits and advantages of using the easy-forex® online trading platform.
Instant deposit with a credit card
Am I bound to wait for banking hours, or can I deposit trading margins with my credit card? Will I miss an opportunity if I decide to change the margins in the middle of the night? When I profit, can I withdraw the profits to my credit card account?
The easyMarkets online platform allows you to fund your account with your credit card (Neteller, Bpay or wire transfer), so you can start trading without delay, regardless of banking hours. easyMarkets takes great care with protecting your credit card security and your personal privacy. To achieve this, we use the latest technologies and complies with all relevant regulations.
Profits withdrawn can be transferred back to the source of your original deposit (i.e. your credit card or bank account).
Margin trading with as little as US$200
What is the lowest amount I can risk?
The easyMarkets platform enables you to trade with very small amounts if you wish. You can start online trading for as little as $200. By trading with small amounts of money, you familiarize yourself with the online platform and are able to increase the level and scope of your activity as your confidence and experience grow.
Online trading tools
There are many tools to assist you as you trade on the easyMarkets platform. This is just a few:
- freeze rate – this enables traders to freeze an existing Buy or Sell rate for a few seconds, allowing them to briefly lock in a rate, regardless of market movements, with no commitment to trade
- the Trade Controller® – is a unique interactive tool that lets users set their desired Stop Loss and Take Profit levels visually and simply. It provides a clear and complete picture of all profit/loss scenarios for precision measurement and adjustment.
- the Inside Viewer® – allows traders to see real-time trades and trends based on what easyMarket traders are trading. They can view the popularity and direction of 20 currency pairs being traded on the platform, and the aggregate structure of open deals.
- SMS alert service – receive alerts directly to your mobile phone about deal closures, limit order captures or when specific exchange rates are reached in the market that you are interested about hearing.
No hidden costs
Are all costs readily apparent? Am I charged commissions on trading? Am I charged commissions on withdrawals of profit?
With easyMarkets, you pay no commissions for the deals you make. As a Forex market maker we make our earnings from the spreads that are embedded in the currency rates. In the “Day-Trading” zone you may roll over your positions to the next day for a renewal fee. There are no charges for profit withdrawals or deposits. Also withdrawal transactions are made at mid-rate value; when you want to take profits from a deal involving a currency other than your operating currency, we convert at an average of the current high and low rates. Some platforms charge the high rate to generate an additional revenue stream.
Security and Safety
What kind of safety and security measures are taken to protect my transactions?
easyMarkets treats the issues of data security, privacy, integrity and backup with the utmost attention and care. These criteria are achieved by:
- Ensuring authorized access only. easyMarkets uses two layers of top class firewall: one at the server level and one at the application level
- Using an advanced SSL by VeriSign for user authentication and data transfer
- Separating the application servers (the servers that handle our clients’ online activity) from transactional information which is stored on a different data server
- Locating two different farm servers separately for data recovery, integrity and replication. Data has to be synchronized in both locations, thus cannot be tampered with. All the information on the servers is encrypted when stored
- The physical security of each server farm is very high. Armed guards are on location 24 hours a day, and access to the premises is strictly forbidden except for authorized personnel.
easyMarkets ensures that whatever happens: failure, disaster, etc., your transactions are intact, secure, and backed up.
Special terms for frequent traders and competitive spreads
Can the trading terms I am offered be tailor-made to my personal preferences?
easyMarkets has different account types to suit different traders and their requirements. The spreads and other terms on the trading platform assume deals of small and up to medium volumes. If you are a frequent trader dealing in larger volumes, tailor-made accounts may be available to suit your needs (spreads, leverage ratio, mobile-phone alerts, etc.).
Live, real-time streaming quotes
Are the rates presented the most current? Is the information presented in my account status window updated at the same time so my position is always current?
The easyMarkets high-performing platform uses the most sophisticated and advanced technologies in order to offer up-to-the-second quotes. You may check your accounts and positions in real time 24 hours a day and make a deal based on real time information.
Forex Home business opportunities
Are there other opportunities to make money from the platform I’ve chosen?
Depending on your region, easyMarkets has a number of programs to enhance your trading activities.
- Refer-a-friend program remunerates you for referring friends and family to the online platform
- As an Introducing Broker (Agent) you introduce clients to the our trading platform
- easyMarkets operates internationally through its Regional Partner program. Regional partners are given full marketing and technical support