EasyTrade is an online trading broker that claims to offer a variety of financial products for trading and investment. However, there is evidence to suggest that EasyTrade is a scam broker that is not regulated by any reputable financial authority. In this review, we will take a closer look at EasyTrade and its trading platform to help you decide whether or not it is a safe and legitimate broker.
Company Overview
Using the trade name EasyTrade, the Estonian company gives access to the world’s leading financial markets, including CFD trading, currency pairs, equities, commodities, indices, and cryptocurrencies, as well as a high-tech trading platform.
Does EasyTrade Have Any License?
Although EasyTrade’s website’s corporate information is a little unclear, it appears that the broker is based in Estonia. Grau International OU is mentioned in the terms and conditions, however, Tsattleia Trade OU is listed at the bottom of the website. Although both businesses have registered locations in Tallinn, Estonia, the Financial Supervision Authority—which oversees forex and CFD providers—has not granted them a license.
Is EasyTrade Regulated By Any Authority?
No, EasyTrade is not regulated by any reputable financial authority. The Bulgarian Financial Supervision Commission (FSC) has issued a warning against EasyTrade, an unlicensed forex and CFD broker, and a court order has blocked access to the website from Bulgarian territory. (Source: https://theforexreview.com/2019/01/07/easytrade-review/#:~:text=EasyTrade%20is%20a%20unregulated%20forex%20and%20CFD%20broker%2C%20against%20which%20there%20is%20a%20recent%20warning%20by%20the%20Bulgarian%20Financial%20Supervision%20Commission%20(FSC)%20and%20a%20court%20order%20to%20block%20the%20access%20to%20the%20website%20form%20the%20territory%20of%20Bulgaria.)
Pros and Cons
Pros | Cons |
Wide range of financial products | Unregulated |
High leverage | No license |
Islamic account | Lack of transparency |
Free demo account | Negative reviews from traders |
How Does EasyTrade Reach To Their Prey?
EasyTrade reaches its prey through various channels, including online advertising, social media, and cold calling. EasyTrade often targets inexperienced traders by promising them high returns and easy profits. However, these promises are often unrealistic and traders often end up losing money.
Technical Details
Minimum Deposit:
EasyTrade has a minimum deposit requirement of $250. However, we recommend that you avoid depositing any money with EasyTrade, as it is an unregulated broker and there is no guarantee that you will be able to withdraw your funds. (Source: https://www.forexbrokerz.com/brokers/easytrade-review#:~:text=VISIT%20NOW-,Trading%20Accounts%20and%20Conditions,-Trading%20account)
Trading Platform:
EasyTrade employs a web-based trading platform that is supported by popular platforms such as MetaTrader4 (MT4), but is extremely basic and devoid of functionality. For instance, neither the automatic trading feature through EAs nor technical analysis indicators are available on this platform.
Spread:
Upon accessing EasyTrade’s platform, we noticed that the EUR/USD spread is fixed at 4 pips, a minimum of twice as much as what other brokers provide. (Source: https://www.forexbrokerz.com/brokers/easytrade-review#:~:text=When%20we%20logged%20into%20EasyTrade%E2%80%99s%20platform%2C%20we%20saw%20that%20the%20spread%20on%20EUR/USD%20is%20fixed%20at%204%20pips%2C%20which%20is%20at%20least%20two%20times%20higher%20than%20what%20most%20brokers%20offer.)
Leverages:
EasyTrade offers leverage of up to 1:400. For novice traders, a leverage ratio of up to 1:400 could be detrimental, but for seasoned traders, it might be advantageous to have such high leverage ratios. They can open considerably larger deals with little initial deposits thanks to it. (Source: https://www.forexbrokerz.com/brokers/easytrade-review#:~:text=EasyTrade%20Advantages-,Leverage%20up%20to%201%3A400,-While%20a%20leverage)
Packages and Products They Offer
EasyTrade offers a variety of financial products for trading and investment, including:
- Forex
- Indices
- Commodities
- Cryptocurrencies
They offer different packages:
Withdrawal and Deposit Method
EasyTrade accepts a variety of deposit and withdrawal methods, including:
- Credit/debit cards
- Bank wire transfers
- Cryptocurrency wallets
What Do Their Previous Traders Say?
There are many negative reviews from previous EasyTrade traders online. Traders often complain about difficulty withdrawing their funds, poor customer support, and hidden fees.
Summing Up- Why Should Not You Trust EasyTrade
Here are some reasons why you should not trust EasyTrade:
- EasyTrade is an unregulated broker.
- EasyTrade has no license.
- EasyTrade has negative reviews from previous traders.
- It is difficult to withdraw funds from EasyTrade.
- EasyTrade’s spreads are higher than other brokers.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have deposited money with EasyTrade and are having trouble withdrawing it, you can contact us for a free consultation. We can help you to assess your case and recommend the best course of action. We also offer a recovery service to help you to recover your lost funds.
File A Complaint Against Scam Broker's
Final Thoughts
EasyTrade is an unregulated scam broker that you should avoid at all costs. There are many reputable and regulated brokers out there that offer better spreads, lower fees, and better customer support. If you are looking for a safe and reliable broker, we recommend that you choose a broker that is regulated by a reputable financial authority, such as the FCA, ASIC, or CySEC.
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