50 Words on – Why you can go broke with Easy Forex?

This company offers me about… zero reasons to trust them. I can get over the fact that the website looks old and cheap, I can get over the fact that CySEC fined them $10.000 [1] but I cannot get over the huge number of complaints found all over the internet. People say they are unable to withdraw, platform freezes, spreads widen; basically everything that can go wrong… goes wrong. However, the cherry on top is the fact that Easy Forex threatened to sue Forex Peace Army if they don’t take down a user comment posted on the FPA forums, containing a link to that user’s website which explained in detail and with evidence how Easy Forex scammed traders (he even planned on writing a book about this matter). What happened to freedom of speech, huh? However, all this happened a while back and now the website is not active for unknown reasons [2].

How Can You Avoid Going Broke With EasyForex

• For the Standard trading account there is no minimum deposit amount. Yes, you can deposit as little as you want. So try depositing just one dollar and this way you will avoid going broke.
• Don’t say bad things about them. You risk getting sued and a lawsuit is expensive, I’ve heard.
• Don’t trade at news time, don’t trade in the morning, don’t trade in the evening, don’t trade at all
• Just trade on their Demo account.
• Don’t buy what they are selling.
• Choose another broker… there are so many.

 

 

Editor’s Note – Would I Trade With EasyForex?

I am sorry if I wasn’t too helpful in the section above but the thing is: I don’t know any other way to avoid going broke than just… not trading with them at all. Sure, all brokers have complaints against them, but with Easy Forex is hard to find a positive comment (which is not made by one of their affiliates). They don’t even feel like a Forex broker and I don’t know why a trader would give them money, especially when there are so many other options out there. It’s true that we are all a bit Good, Bad and Ugly, but I believe the Good part of Easy Forex is perfectly captured by an user-comment over at FxEmpire.com: “Pros: they screw over idiots making the world a better place” [3]. Maybe I don’t need to say it but I will anyway: nope, I wouldn’t trade with Easy Forex!

 

References

1. CySec Warning EasyForex 
2. FPA EasyForex Page
3. FXEmpire Users Comments