Easy-Forex has rapidly become one of the biggest players in the currency trading market.
Part of the reason for this is its name! Easy-Forex implies that Forex trading is easy, which of course we all know is not altogether true.
However, when you are just starting in Forex trading, the first thing you need to know is how much assistance and training you are going to get. So the purpose of an Easy-Forex review must be to see how far a system that calls itself Easy-Forex actually succeeds in making things “easy”.
Easy-Forex does in fact have a number of unique features that do make it as easy as it can be to get a foothold in Forex trading.
One of the features of Easy-Forex that many people find attractive is that there is no software to download. This is not actually unique to Easy-Forex but it gives it an edge over trading platforms that do require a software download, which is the majority. If you have had your share of download problems and set-up glitches, you will certainly appreciate this. Plus it means that you can access your account instantly from any PC anywhere in the world. Easy-Forex make it very easy to make a trade by allowing you to deposit funds using your credit card or Paypal. This avoids the frustration of finding that by the time your funds are in place, the price has moved. Where Easy-Forex really scores is that it has a human face! This makes it probably the best Forex trading system for you if you are just starting. As soon as you register you are allocated your own personal account manager who works closely with you and who is very easy to get hold of when you have a question. The manager will advise you and will walk you through the initial stages. This to me is worth A LOT. And it is a better way of learning the ropes than using a demo account. You don’t have to pay a commission to Easy-Forex when you make a winning trade. This is because Easy-Forex makes its profits from competitive spreads. Some people sneer at this, alleging that it means they can’t call themselves commission-free. But of course they are a business so they have to make a profit somewhere – but they aren’t making it directly from YOU. One very big plus for Easy-Forex is the freeze-rate option that they offer. If you are a hesitant person, like me, it is extremely valuable. It gives you “thinking time” while deciding whether to accept a trade. Without it, the rate could change while you are hesitating and you could lose a good opportunity. Alternatively you might plunge into trades which on reflection might not be a good idea.
So there are features which do help to put the “easy” in Easy-Forex. But of course an Easy-Forex review would not be an Easy-Forex review without weighing up the negatives too. And you will see some very disgruntled people putting negative comments on the forums.
The majority of these seem to be from people who have lost money with Easy-Forex. And make no mistake, you WILL have losing trades. If you can’t cope with this, Forex trading is not for you, period. The real secret of trading Forex is to make sure that your winning trades outnumber your losing trades. And to do this, it is essential that you know what you’re doing. To this end, Easy-Forex is acknowledged to have the most thorough and personal tutorial service of any Forex trading system.
Another point that people complain about is that if you carry over a day-trade to the next day, Easy-Forex make a charge, and if you don’t have that money in your account, they deduct it from your credit-card without prior warning. To prevent this, it is essential that you keep sufficient money in your account.
An Easy-Forex review cannot provide a complete analysis of Easy-Forex – it can only weigh up the pros and cons. There are other excellent Forex trading systems on the market and of course you need to compare them, though in my experience Easy-Forex has more unique features to make it really easy to start trading. But whether it is for YOU, only you can decide!
By: Elaine Berry
Posts Tagged ‘Trading Platforms’
Easy-Forex Review – Is Easy-Forex Really "Easy"?
April 18th, 2010Forex Autopilot – Forex Killer – Leading Automated Forex Trading Systems Compared
March 14th, 2010
ForexAutoPilot and ForexKiller are probably the biggest brand names in the automated forex trading system market. Both products are meant to help you make a profit out of the huge, lucrative market of currency trading, even without the knowledge a professional forex expert has. In this article I will compare some key points between the two products, in order to help you determine which of them suits you better.
Mode of operation
Forex AutoPilot is a fully automatic forex trading robot. Not only does it decide what to trade – it can automatically issue the buy or sell order to your forex broker. In that respect, it can do the entire process for you, whether you’re out to lunch or asleep in bed.
Forex Killer does not issue automatic orders to forex brokers. It simply provides quick, ongoing analysis of the forex market and gives you recommendations. It is up to you to issue the orders to your forex broker. So you have some control over the process, and you give the final go – but it requires your intervention.
Ease of installation
Forex AutoPilot has been getting some complaints about its installations process. Although the process s well covered in its users’ manual, it seems to be a consistent complaint and apparently the installation process is not straight-forward and smooth for some.
Forex Killer, to the best of my knowledge, does not get as many complaints about that.
Credentials of creators
The creators of both Forex Autopilot and Forex Killer have extensive forex trading background.
Marcus Leary, the creator of Forex AutoPilot, is a senior forex trader by profession. He co-created Forex Autopilot with Steven Strauss, a mathematician who helped develop the mathematical formulas Forex AutoPilot uses.
Andreas Kirschberger, the creator of Forex Killer, is a former Deutche Bank forex advisor.
Supported trading platforms
Forex Autopilot works on a single forex trading platform, Metatrader 4. While it is one of the most popular platforms out there, it is not supported by all forex brokers. You have to check with your forex broker whether he or she works with this platform or not.
Forex Killer works with every known trading platform, so in that respect it is more flexible. It is highly likely that your forex broker works with one or more of the platforms supported by Forex Killer (although it is always recommended to check).
Reviews
Both Forex Auto Pilot and Forex Killer are highly acclaimed. They have gotten thousands of enthusiastic testimonials from users, and are considered world leaders in the automated forex trading software industry.
I hope this comparison helped you shed some light on both of these highly revered forex trading software products.
By: Marvin Leicester
Forex – What is Forex Currency Trading?
March 2nd, 2010
If you are someone who is interested in investing, you must certainly have heard the term, Forex Trading. What many investors don’t know is that “Forex” is not a new term by itself, but rather a short form of “Foreign Exchange”. As the name implies, Forex Trading simply refers to Foreign Currency Trading.
As recently as ten years ago, Forex Currency Trading was confined to the large institutions and banks as they only had access to the tools and systems required to meet the then high barriers of entry set in the Forex Trading game.
Today, things have changed drastically. Recent advancements in technology have empowered the individual investor to participate in the game, and trade with any of the various online trading platforms that exist today.
Once you get started with buying and selling in the Forex Currency Trading market, it will become obvious to you that there exist four “Currency Pairs” that completely dominate the Forex market. The four pairs are “US Dollar vs. Euro”, “US Dollar vs. British Pound”, “US Dollar vs. Japanese Yen” and “US Dollar vs. Swiss Franc”.
The prime goal of any investor who deals in the Forex market is to hold a currency that is appreciating in value in relation to the other currencies. To illustrate with an example, if you choose to buy 100 British Pounds in exchange for 200 US Dollars, hold the 100 British Pounds for a week and in that period, the value of the British Pound appreciates in relation to the US Dollar, you get to convert those Pounds back into Dollars for say $250 and make a tidy profit.
Unlike domestic stock markets around the world that operate for only a few specified hours each day, Forex Currency Trading is open 24 hours a day. Since every country trades on the Forex market, it’s always business hours in some part of the world and so it’s open all day. The volume of trade on the Forex market is roughly a whopping $1.2 Trillion.
Another important distinction is that Forex Currency Trading is not centered on any exchange such as the NASDAQ. There is no central governing authority or organization and trading is carried out between all the major banking institutions of the world.
The advent of the internet has given rise to online Forex Brokers which are similar to an online stock trading account. These brokers have thousands of investors placing orders through their online portals and so are able to allow anyone to open a Forex account and buy and sell in any quantity.
Times have changed and made it extremely easy for anyone to trade on the Forex Currency Market. But, a new investor must keep in mind that it is a very complex and complicated environment that may offer amazing opportunities for wealth creation, but is also capable of relieving you of your hard-earned money in an easy fashion. A would-be investor is advised to do a lot of homework and gain as much knowledge as possible about the Forex market before choosing to make an investment.
By: Mike Freije
