EasyMarkets is a global broker with over 20 years of experience in the financial services sector. The Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) oversee its operations, respectively (ASIC). Additional regulators include the Seychelles Financial Services Authority (FSA) and the Financial Services Commission of the British Virgin Islands (FSC BVI). Brokers cannot access their client’s money since it is kept in separate accounts.
Currency pairings, indices, cryptocurrencies, commodities, CFDs, and options are just some trading tools from EasyMarkets. There are no automated investment systems available. While prior trading expertise is helpful, the broker mostly seeks out clients actively trading. EasyMarkets is a learning hub that offers courses and resources for novices and seasoned traders. Below is an EasyMarkets review that details the minimum deposit and withdrawal fees associated with EasyMarkets.
Minimum Deposit for easyMarkets
When creating an easyMarkets trading account, you must deposit a minimum of 100 GBP/USD/EUR. A minimum deposit is required when establishing a new online brokerage account with easyMarkets. Don’t be put off by the fact that brokers like easyMarkets require an initial trading deposit. A common practice among brokers who need larger initial deposits is to provide clients with access to premium features on their trading platforms.
For the most part, brokers with smaller minimum deposits cater to a more mainstream clientele that doesn’t need access to sophisticated analytical and market data tools.
If a broker does not need a minimum deposit, it is likely to do so to win over new clients. Since they need to produce a profit somewhere, trading fees may be greater for accounts with smaller opening balances. A wider variety of trading tools may be found on the platforms of brokers who demand higher minimum deposits. These brokers often offer superior technical analysis, research tools, and advanced risk management capabilities.
The minimum required to create a live trading account has decreased as the number of online trading platforms has increased, and brokers have become more competitive for new customers.
Some brokers have a minimum deposit requirement of as much as USD 6,500 or GBP for certain trading accounts. The maximum allowed by certain brokers is 10,000 GBP/USD.
Charges for Making a Withdrawal on easyMarkets
When you withdraw funds from easyMarkets, you won’t be charged any fees. Withdrawing money from your trading account is governed by each broker’s policies. That is due to the fact that several factors, such as the broker’s withdrawal policy, the payment provider’s transfer processing charge, the time it takes to conduct the transfer, and the exchange rate, can significantly affect the final cost of a withdrawal. The cost to convert from one currency to another varies according to the source currency, the destination currency, and the method of payment used.
Credit cards, MasterCard, Maestro, American Express, JCB, Astropay, Debit cards, Bank Transfer, SOFORT, GiroPay, iDeal, Bpay, Electronic wallets (eWallets), Skrill, Neteller, WebMoney, UnionPay, WeChatPay, FasaPay, STICPAY, and so on are all acceptable withdrawal options on easyMarkets, for instance.
What exactly is foreign exchange?
Trading foreign exchange, also known as buying and selling currency pairings, is exchanging one currency for another based on the exchange rates currently available on the foreign exchange market. The foreign exchange market is the largest in the world, with an average trading volume of about 6.59 trillion dollars’ worth of currency.
What exactly is a “forex broker”?
Foreign exchange (forex) trading is conducted through a forex broker, also referred to as a currency trading broker. Foreign exchange, or forex, is the buying and selling one currency for another. To trade foreign exchange on margin, you must first create an account with a broker, deposit funds into it, and then utilize the broker’s trading platform. There is continuous trading in the foreign exchange markets throughout business hours on five weekly trading days.
Best forex trading platforms for beginners
For those just getting started with foreign exchange trading, here is a list of some of the best forex trading platforms for beginners.
- IG: Best for learning, most reliable
- AvaTrade has excellent learning materials.
- Plus500 was the overall usability winner,
- eToro was the best copy trading platform,
- CMC Markets was the best web trading platform,
- TMGM provided extensive instructional courses.