EASYTRADE Spreads, leverage, minimum deposit Revealed

WikiFX | 2021-11-22 17:30

Abstract：EasyTrade is an unregulated forex and CFD broker, against which there is a recent warning by the Bulgarian Financial Supervision Commission (FSC) and a court order to block the access to the website form the territory of Bulgaria. EasyTrade says to be owned and operated by the Estonian Grau International OU and regulated by an organization called The International Financial Services Commission (IFSC). Have in mind, however, that IFSC is nothing more than an anonymous website without legitimacy whatsoever.

Registered Country	Australia
Regulation	No license
Establishment	2-5 years
Minimum Spreads	From 0.0 pips
Maximum Leverage	1:500
Account Types	Standard, Raw accounts
Minimum Deposit	N/A
Trading assets	N/A
Customer support	Telephone: +61 3 8373 4800Email: support@etfxi.com

　　 General Information

　　EasyTrade is an

　　Regulation

　　When it comes to regulation, EasyTrade let us know, for it does not hold any license to support its operation. Here we can see that EasyTrade only gets a very low score of 1.33/10 (The Screenshot was taken on 02/09/2023).

　　Market Instruments

　　EasyTrade says to be offering CFDs with “more than 1000 financial assets”, including forex pairs, stocks, commodities, indices and major crypto coins like Litecoin, Ethereum, Dash and Bitcoin and Ripple.

　　Minimum Deposit

　　EasyTrade offers quite a few trading accounts, with the minimum initial deposit for a basic account is $250. Although this is the reasonable amount, traders are not advised to register real trading accounts here given the fact that EasyTrade is not subject to any regulation.

　　Leverage

　　While a leverage up to 1:400 may actually be a negative for unexperienced traders, some professional ones like having the ability to use high leverage ratios like this. It gives them the opportunity to open much larger trades, while depositing small sums.

　　Spreads & Commissions

　　Spreads, however disappoint – as tested with a demo account the benchmark EURUSD spread was fixed at 4 pips, which is roughly three times higher than the levels traders usually expect with a standard account.

　　Trading Platform Available

　　EasyTrade uses a web based trading platform, which is overly simplified and lacks lots of features, supported by well-known platforms like the MetaTrader4 (MT4). For example, this platform has no technical analysis indicators, nor the automated trading option via EAs.

　　Deposit & Withdrawal

　　EasyTrade accepts all kinds of payment methods including major cards like VISA and MasterCard, e-wallets including PaySafe, Neteller, Skrill, WebMoney, QIWI, Yandex and AstroPay, as well as bank wire. There is a minimum 30 USD withdraw fee, monthly maintenance fee and a profit clearance fee, all of which, we should note are highly unusual.

　　Customer Support

　　Clients with any inquiry can get in touch with EasyTrade through email and telephone.

　　Here is the detailed contact information:

　　Telephone: +61 3 8373 4800

　　Email: support@etfxi.com

　　Pros & Cons