Forex EasyMarkets

[funnybunny]

Hi guys

Decided to go with forex easymarkets; they state that they ask compliance questions:

"You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore EasyMarkets’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation."

I was wondering what sort of questions are these-? Do these questions need to be answered on the phone or via email web (so i can look them up if they're difficult)

 

[mattfromsydney]

You will find that most the forex brokers ask these questions, I believe it may be a compliance requirement for the brokers in Australia. However you can just google most the stuff and you may even get unlimited tries at it so just go for it.

Although Easy Markets are one of the most expensive brokers so make sure you are choosing that broker for the right reasons.

 

[funnybunny]

You will find that most the forex brokers ask these questions, I believe it may be a compliance requirement for the brokers in Australia. However you can just google most the stuff and you may even get unlimited tries at it so just go for it.

Although Easy Markets are one of the most expensive brokers so make sure you are choosing that broker for the right reasons.

Thanks, I guess the reason im going with them is that they offer 'free' guaranteed stop losses.

I was wondering what other people /anyone who has used Easymarkets- how they were/.

Cheers

 

[mattfromsydney]

Nothing is actually 'Free'. You pay for that guaranteed stop loss in the very high spreads and swap costs.

You can also check out IG markets who offer both options of non-guaranteed and guaranteed stops. I never used the guaranteed stops when I traded with them but they will most likely be more competitive than Easy Markets.

I've traded with around 6 or 7 brokers in my time but left Easy Markets on bad terms so I would suggest to shop around.

 

[funnybunny]

Nothing is actually 'Free'. You pay for that guaranteed stop loss in the very high spreads and swap costs.

You can also check out IG markets who offer both options of non-guaranteed and guaranteed stops. I never used the guaranteed stops when I traded with them but they will most likely be more competitive than Easy Markets.

I've traded with around 6 or 7 brokers in my time but left Easy Markets on bad terms so I would suggest to shop around.

Ig markets minimal stop losses are crazy- like 100 pips or something.
What sort of problems did you have with easy markets?

 

[victim of Easymarkets]

Hope you are doing well with Easymarkets. They are unreliable and not paying my profits. Here is what happened on me: https://www.aussiestockforums.com/threads/how-easymarkets-cheats-clients.34749/#post-1030211

 

[cogs]

'guaranteed stops' is an absolute in your face scam. It's quite laughable when you trade with them. During the Asian session, after placing a trade you can simply count down in sometimes seconds, for the bots to take your position out.
Of course then the age old argument is raised, safety in trading use a stop loss, you must use stop losses, stop losses save your account, etc. etc. It goes hand in hand with their PDS.

Honestly you would be much better off if you set up a direct debit from your bank account into theirs, as it is guaranteed money in the bank to them. Guaranteed stops. Pffft!