easy-forex.com review - Singapore Forex Trading, Singapore Forex Academy, Singapore Forex Association

Header Ads

easy-forex.com review

easy- forex .com review
 I've been with these guys for about 2 months now - and here is my view of them:

 easy forexAny forex trader I would evaluate based on these points:

1) Tightness of the spread
2) Training - whether they traing you themselves or help you get trained and up to speed.
3) Types of trading - whether limited to FX or include options indices etc..
4) whether trading through dealing room or ETN
5) Stop-loss guarantee
6) Ease of withdrawal of money
7) Support

And for these guys - here are my findings

1) The spread for anything below the VIP is quite high, but then again so are all the other brokers - I mean if you're scalping 3 pips is a deal breaker - ( and that's the lowest for standard accounts) there is no WAY you can make a profit scalping on those spreads - and that's the same for all other standard account for other brokers so I would say they're no better of or worse in this case.
Once you go VIP it's a different ball-game - the spreads are only beat if you go intrabanking rates through ECN - they'll go as low as 1.8 pips which is sweet !

2) They will give you minimal training - but to be honest, they swamp you with ebooks and websites (not their own) and leave you to train yourself up, they're more than happy to assist in any part if you're stuck.
this suits me fine, after all I'm trading money not playing games, if I don't have the stamina to learn I might as well donate my money to charity it's not for the lazy ones out there - and there are NO shortcuts, it's a steep learning curve.

3) for a beginner - they trade pretty much all you need - currencies and options and other commodities etc.. which is far more than any begineer would be interested in - once you get your feet on solid ground you can expand to the other trading but they are strictly Forex and don't do any spread betting or similar - just FX, Indices, commodities and options.
4) They trade through dealing room - but here's the thing I always keep an eye on my trades and the rates out there - there is no slippage, the order is done electronically and there are no manipulation with the prices - if anything the only disadvantage is that the spread is slightly higher than the intrabanking rates which is how they make their money and they don't hide it.
I prefer it that way as I'm happy with the low spreads on my account and I only trade on the very low spread majors - the dealers are very friendly and very helpful - they have saved my trades on more than one occassion from it being wiped clean in a trade !

5) This is where they excel they actually do guarantee both yohur stoploss with NO slippage - so far that's their greatest plus.

6) haven't tried that yet so cannot comment on it.

7) their support is really top-notch - you get around the clock support whenever you need it - you'll have guys who actually trade and will give you good advise, every time I didn't follow my personal dealer's advise I lost money - so heed their advise - but also make up your own mind.

Bottom line - for a begineer they are legit and very good to start with - maybe others provide better 1-1 training, better news outlets - but if you're serious about trading once you learn (and I cannot emphasise the importance of self learning) it does not become an issue...the only issues yo'd be looking for are the tightness of the spread and the readiness of the news, with forexlive.com and investing.com and bloomberg (both the website and TV) I'm happy for now - maybe when I'm more experienced I'd want more sophisticated news outlets - but those are expensive and I can not justify them at this point.
register here