EasyMarkets Account Types: List & Characteristics (2022)
EasyMarkets is a leading name in the trading industry. Thus, it attracts traders with different needs from every part of the world. It offers several account options to help them choose any account type that meets their requirements to meet these traders’ needs.
The EasyMarkets Review offers more insight into this trading platform.
Table of Content
EasyMarkets Account Types
EasyMarkets Demo Account
The Demo Account offers a learning platform to learn trading rudiments without using your real money. Free learning is an opportunity for traders to hone their trading skills before trading with real money.
Of course, there are several reasons why the EasyMarkets Demo Account is the best place to start your trading journey. Some of the attractive benefits of using this account are that it enables you to learn trading tricks without taking a risk by using virtual money, preparing you for real trading.
Of course, opening an EasyMarkets Demo Account doesn’t automatically imply that you trade on EasyMarkets. The decision to continue using the platform or switch over to another platform lies with you. The trial has two weeks of expiry date, however this can be extended by making your first deposit. Once your account is credited, the platform will remove the expiry date and give you unlimited access to the Demo Account.
Opening an EasyMarkets Demo Account isn’t rocket science (75% of retail CFD accounts lose money). The process is simple and stress-free. Click the link above to open one in a couple of minutes.
Easy Markets Standard Account
EasyMarkets Standard Account is another account type for users. You must deposit a minimum of $25 to open and use this account. It is available for the Webtrader platform and offers spreads starting from 1 pip.
More so, the account promises fast execution and no slippage, making it a pretty easy-to-use trading account for all and sundry.
EasyMarkets MT4 Account
The EasyMarkets MT4 Account type is designed for the MetaTrader 4 platform. This account’s users must be prepared for its competitive cost and spreads. The minimum deposit amount is $25 with very rare slippage.
Some of its outstanding features are the stop loss and no guaranteed loss. These features help users to minimize their risks of trading at a loss. They can set specific exit values for a trade. They will exit the trade automatically if the traded asset depreciates to the predetermined price. For a list of the ten best MT4 brokers, check our Top MT4 Broker.
EasyMarkets Islamic Account
Muslims who desire to trade in compliance with their religion’s ethics can opt for the Islamic Account type. The traders won’t pay swap fees as stipulated by Sharia law.
Although traders don’t pay additional charges, individuals may be fined for keeping a position open for two weeks.
EasyMarkets VIP Account
The EasyMarkets VIP account offers spreads starting from 0.9 pips. The platform is available for MT4 and Web/App users and attracts a minimum deposit of $25 only.
Users have no cause to worry over commissions and account fees because the broker won’t charge them any of these fees.
Professional Account
The Professional Account isn’t for every of the platform but for a selected few who meet two of the three requirements outlined below:
- The individual must have made an average of 10 significant sizes per quarter over the past 12 months.
- The individual’s financial instrument portfolio, either in their trading or bank account, must be over €500,000.
- They must also possess the required amount of experience in the financial services sector.
With an EasyMarkets professional account you will keep the negative balance protection, as well as a free guaranteed stop loss service and lower margin requirements.
EasyMarkets Account Opening
As stated earlier in the article, opening an EasyMarkets account is pretty simple. To open a live account, you are advised to open a demo account first (75% of retail CFD accounts lose money). Once you are done with opening the account, verify your account and deposit the required initial deposit amount.
Account Verification
The account verification process is usually fast. You may need any of the following documents for account verification, depending on your country of residence:
- Proof of residence. Your bank statement will suffice.
- Proof of identity, either a passport or an ID.
Account Funding
Your location determines the account funding process. EasyMarkets offers several account funding options that include:
- Bank transfer.
- Credit and Debit cards such as Maestro, Visa, AMEX, MasterCard, Astropay, and JCB.
- Accepted eWallets are Neteller, Fasapay, Sticpay, Skrill, and Webmoney.
- They support online banking such as Bpay, Malay local bank transfer, Sofort, and iDeal. Others are Webmoney and WeChat for the Chinese community only.
The supported base currencies are Euro (EUR), US Dollars (USD), Canadian Dollars (CAD), Japanese Yen (JPY), Australian Dollars (AUD), British Pounds (GBP), New Zealand Dollars (NZD), Swiss Franc (CHF), and South African Rand (ZAR).
The minimum deposit amount is determined by the trader’s location, although it is generally $25. For more information about the minimum deposit amount, read our EasyMarkets Minimum Deposit article.
EasyMarkets Account Bonus
EasyMarkets doesn’t offer an Account Bonus at the moment. However, some features and products deserve your attention. These are:
- EasyMarkets Freeze Rate: This feature allows you to freeze a rate on an asset temporarily. The goal is to have enough time to get into the position.
- EasyMarkets Deal Cancellation Feature: You may accidentally open a position and which to correct the mistake. The Deal Cancellation feature allows you to close the position and reverse your losses for a small fee.
- Social-Copy Trading: Although the broker doesn’t offer copy trading and social services, you can use the MT4 via the trading robots and EAs.
Our Best Bonus and Promotions article provides more information about the broker’s bonus and promotions if you want to increase your knowledge of these features.
EasyMarkets Account Deposit/Withdrawal
EasyMarkets makes withdrawal and deposit stress-free for its traders. For a start, traders are not charged a deposit fee except if their base currency doesn’t match their withdrawal or deposit method currency.
They can also be charged a transaction fee if they make withdrawals or deposits through wire transfer.
The withdrawal or deposit confirmation time depends on the medium of the transaction. For bank transfers, the bank is the primary determinant. Generally, though, it takes a couple of business days for a withdrawal request or a deposit to be confirmed.
Instant confirmation is guaranteed if the withdrawal or deposit is made via eWallets or credit/debit cards. However, your choice of eWallet or credit/debit card determines the confirmation time.
Withdrawals are generally free. Withdrawal requests are processed within 24 hours or one business day. However, the withdrawn fund’s final destination and your bank’s processing times are two factors that determine the processing time. Thus, withdrawal may take about 3 to 10 business days before it is deposited in your account.
EasyMarkets Account Management
EasyMarkets manages individuals’ accounts appropriately to ensure the platform’s smooth operation.
Naturally, demo accounts expire after two weeks. However, you can extend the expiry date if the account owner makes their initial deposit. Crediting their account removes the time cap on the demo account and offers them unlimited access time.
If your account remains inactive for six months with a free balance, the platform will charge you an account maintenance fee of $25.
EasyMarkets Account Reactivation
What if you decide to reactivate your account after EasyMarkets deactivates it due to your inactivity? Contact the broker. They will do the needful without delay.
How to Close EasyMarkets Account
For some reasons best know to you, you may decide to close your account. To do this, first withdraw your funds. Then, contact the broker support team via email. The support team will grant your request as soon as possible.
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