After more than 1 year of trading with this broker, I can share my opinion about easymarkets.com. They say that they are regulated by Cyprus CySEC) and Australia (ASIC) authorities, but they don't tell you that the vast majority of their traders have a business relationship with EF Worldwide Ltd (offshore jurisdiction) - that is not regulated by any authority. So, ask them before topping up the account about the company with whom you have a contractual relation. This broker is a market maker. That means all the traders are trading between them and against the broker. After reaching profit about 70% of deposited amount and 95% of all trades in profit, their representative called me and started to ask me if I'm using any software and why I open so many trades and close them manually. I told him because this is not forbidden by their T&C. They raised my spreads about 3 times. (from 2.5pips to 7pips for EURUSD) in an effort to stop me from making profit. Anyway, they never refused to pay my profits, but they are not happy when trader is in profit. They are not "simply honest"; not because they're lying, but because they don't tell you the whole truth.
Reply by The easyMarkets Team submitted Feb 19, 2019:
Thank you for reaching out to us, as feedback helps us enhance our client’s trading experience with us.
easyMarkets is the business name of Blue Capital Markets Group of Companies. Blue Capital Markets Group of Companies consists of the following subsidiaries: Easy Forex Trading Ltd which is licensed and regulated by the Cyprus Securities and Exchange Commission (“CYSEC”), Easy Markets Pty Ltd which is regulated by Australian Securities and Investments Commission (“ASIC”) and EF Worldwide Ltd which is incorporated in Marshall Islands. Please be advised that we take all possible measures to ensure the relevant level of protection for our clients in accordance with the regulation of their region.
In regards to your concern about us being a market maker, kindly note that a market maker is the counterpart to all its clients’ positions, and always offers a two-sided quote (two rates: BUY and SELL). The relationship between the trader and the market maker is simply based on the fundamental market forces of supply and demand.
Moreover, the Company reserves the right to take the appropriate action where deems necessary in circumstances where the terms and conditions of the agreement have been breached. Please consult our Client Agreement in our Legal Page https://www.easymarkets.com for more information.