The Cyprus-based company Easy Forex Trading Limited provides online trading services under the brand name easyMarkets. Besides the popular MetaTrader 4 platform, the broker has developed its own web-based one. It runs on any computer with an Internet connection and doesn’t require download or installation.
The default workspace is separated into three parts. Instruments available for trading are on the left side. There is a searching field where the desired symbol can be selected. They are sorted in five asset groups – forex, commodities, induces, metals and vanilla options. Each symbol can be added to My Favorites list. Bid and Ask prices, high and low values and daily change are shown next to the instrument name.
The central part of the platform is for the trade window where the properties of the selected instrument are shown. All orders can be placed here. There are three tabs in the trade window. Market orders are executed from the Day Trade tab. The necessary margin is calculated in real time when the Amount to trade is selected. Then clicking on the Buy or Sell button opens a position. The unusual feature is the Deal-Cancellation button. When it’s switched on, customers can cancel the open position within the next 60 minutes (if the market goes in the opposite direction). This feature is not free and its price is displayed below the button. Other interesting thing here is the Freeze Rate button, located between Buy and Sell buttons. It gives the customers an opportunity to stop price changing for about 3-4 seconds and choose whether to enter the market. The broker explains that during volatile market conditions the price of order execution is not guaranteed, even if the Freeze Rate feature has been turned on.
Account information is available on the right side of the window including account balance, current result and necessary margin. There is also an inside viewer that shows the percentage point of buyers and sellers.
The window below the trade window consists of five tabs. My Open Trades tab shows open positions in detail. There is a Modify button that opens a window where customers can set stop-loss and take-profit. Clients can choose which positions to be closed by marking them and then clicking on the Close selected. Market News tab shows financial news provided by third parties. News details are displayed by clicking on the headlines. Trading signals tab is available for live accounts only and demo account holders are prompted to open and fund their live accounts. Next tab displays an economic calendar of recent and next events but the time zone cannot be changed and is shown in GMT only.
The last tab is for charts, which are based on java. They can be displayed as candlesticks, bars or lines. There are 10 time-frames – from 1 minutes do 1 week. Customers who use technical analysis can rely on nearly 50 indicators sorted by types. Most wanted can be added in a favorite group. Price colors and time zone can be changed from the General properties menu. Customers can maximize the chart window and have a screenshot of it. Graphical objects include trend lines, vertical and horizontal lines, rays, arrows and measurement tool. Text and Fibonacci repracement can also be placed. Mouse scroll wheel is not used for zooming, which is somewhat uncomfortable.