Does anyone have any experience or history with easy-forex.com as a platform. What are the good and bad regarding this platform?
pro is its user friendly with decent spreads, con is that it doesnt have better indicator studies and for a technical trader thats a really big downside
test the spread against advfn at any one time and you will see that they will lengthen one way distinctly out of sync…not good if you are day-trading.
They seem to be the only company that will allow you to start trading with small dollar amounts($25 margin). What am I missing. I want to practice in the demo account and then move to an active account that let you risk small amounts at first. What platforms do you know that do not have these downsides (good indicators and accurate spreads) yet allow you to start small?
ouanda is considered a good tester but for web-based can try the fun of etoro…one cannot expect small trades and small spreads together unless you want your cake and eat it
So when comparing the spread against advfn does ouanda or etoro do better than easy-forex.com and do you know what the min investment amount is for these platforms?
I can tell you one thing,
run away! i had a very big issues with them they are not a good company to deal with.
It’s a scam company. If you made any profit they will find any excuse NOT give you that.
Be careful with them.
I opened account with easy-forex and invested 500 pounds (After a few phone calls from their sales person) on the 18th Aug 2015. I was really lucky the market was crashed and went the way I expected and by the 20th Aug, I made around 4600 pounds (The total balance is around 5100 pounds on my account).I wasn’t too sure what’s the market direction would be, therefore tried to withdraw 3000 pounds out and stopped trading on the 20th August, And 20th August 2015 it was my last trade.
On 21st August 2015 (A day after my final trade on my account) my partner who is also my working (we are totally financially independent). She used her own ID and bank details opened an account with easy-forex. She invested 1500 on the 21st August 2015. Somehow the market also went the way she expected. By the 24th August she made 5600 pounds (total balance including the initial investment on here account was 7011 pounds)
By Monday the 24th August both our accounts were suspended. All the profits which we made were held by easy forex (Total of 12100 pounds including our initial investment).
- They accuse us, trading only on the morning gap of the DAX
They didn’t show me which of you policy says we couldn’t trade on DAX?
- They accuse us over-leveraging in order to benefit from the gap at the opening.
On their site says CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone.
On one hand they say, you may lose all your invested capital because of the leverage. On the other hand if their customer made some profit, they accuse you overleveraging. Potentially, they can accuse anyone on any transaction who ever made any profit. This is DOUBLE STANDARD be careful with them.
- They accuse us, Abuse of Stop Loss facility contrary to para 8.2.5
And their explanation was: It does not require the facility to have been activated and you have being operated received the benefit of the stop loss facility and avoided the potential of ‘slippage’ in circumstances where a market gap is expected.
Firstly I believe there are different between stop loss and guaranteed stop lose. For stop loss facility the execution is not guaranteed, particularly in slippage situations.
Secondly stop loss is design to limit an investor’s loss on a position in a security. This is the stop loss facility designed for.
Thirdly based on their theory, if you made any profit on their site. They can accuse anyone on this whoever used their stop loss facility
4. They accused us:”same IP address found trading with another client. This is illegal and cannot be allowed”
And they told me that their company is essentially a technologies company. They have a substantial array of data that is collected. In that case how do they allow her to open the account in first place? This (same IP) seems only becomes a problem if any of the account under the same IP address start making some profit?
I have also showed them our pay-slips, which proves that my partner is also my working colleague. We working for the same company and living together that’s why we have the same IP address
- They accused us bought the similar product at similar time (different date), and their conclusion was two account used by one person.
• They didn’t explain. What is the BENEFIT for me to use someone else’s account to buy similar product in different date?
• And she only had two transactions on her account. One transaction before the market close on Friday and another one after market opens on Monday, and this one the time is totally different time)
Based on those points above the conclusion is:
They suspended our accounts (and held the fund more than 10000 pounds profit which we made) and try to find several various of excuses after and each time the excuses are different.
This is illegal scam don’t every trade with them it’s not worth the hassle
They have offered us return our initial investment
They have also offered me 1500 pounds for each of our accounts for the final settlement. Which I think this is totally unacceptable.