Breaking: Easy Forex website fully replaced by easyMarkets marking end of 13 year era
The transition from easy-forex.com to easyMarkets was completed this morning, signaling the end of 13 years under one domain, and a new era in which multi-asset trading and the dealCancellation feature are core business priorities for the company
Retail FX brokerage EasyForex, which was one of the very first names that rose to prominence within Israel’s electronic trading sector during the early Millennial years, very shortly afterwards becoming a mainstay of Cyprus’ retail FX industry.
This morning, the company has completed its transition to its new brand, culminating in the redirection of the old easy-forex.com website to its new easyMarkets.com site, ending a 13 year era and commencing a new one within which the firm will look toward building a multi-asset business.
In September this year, FinanceFeeds met with Nicolas Shamtanis, Chief Retention Officer at easyMarkets in order to closely examine and exclusively report the launch of the new dealCancellation feature which allows traders to cancel or back out of their positions within one hour of a position being opened. This was not available under the easy-forex.com brand, and is now a full feature of easyMarkets.
Mr. Shamtanis explained to FinanceFeeds “dealCancellation is a new feature available within easyMarkets platforms that allows clients to cancel or back out of their positions within an hour after a position is opened. This is a promising game changer in the industry, as it can enhance risk management and trading psychology.”
This feature initially went live in September with its rollout initially in Australia, closely followed by all other global markets, culminating in a full migration having taken place with the end of the easy-forex.com brand now having given way to easyMarkets.com in all regions.
How does it work?
As far as functionality is concerned, dealCancellation is effectively an option connected to the deal itself, therefore when a trader buys a spot deal, he is also buying an option to hedge the downside, in exchange for the cost of the premium. The premium is calculated based on market volatility.
With regard to implementation to the trading environment, Mr. Shamtanis explained comprehensively how traders can pull out of open positions with no loss “When a trader enters his trade details on the platform, he can choose to activate dealCancellation from the get-go, which means that he already has the option to cancel this trade as though it never happened in the first place. Of course this comes at a small fee based on market conditions, which is usually less than the loss that might be incurred if the trade hits its stop. This way, the trader may minimize his losses to the cost of the dealCancellation feature versus the full loss on the trade” he said.
“This feature comes in handy when one wants to trade a news event, for instance. Even with all the technical and fundamental analysis, it can be difficult to predict accurately how an earnings report or central bank announcement might turn out and how the markets could react. These uncertainties can be enough to discourage a trader from trying to grab pips off a top-tier market event, thereby preventing him from taking advantage of profit opportunities as well” – Nicolas Shamtanis, Chief Retention Officer, easyMarkets
easyMarkets considers that by using the dealCancellation feature, the risks involved in trading major market catalysts may be reduced. If a trader is caught in the wrong side of the markets, he can simply cancel the trade instead of letting his account incur potentially larger losses. This may also allow the trader to set wider stops to make room for volatility or large spikes, helping him stay in the trade for much longer and weather the noise until price eventually moves in the direction of his trade.
easyMarkets began reminding clients to add easyMarkets to their browser bookmarks because from Friday, 16th December 2016 www.easy-forex.com will be redirected to our new site www.easyMarkets.com, which is now fully live and is the default site for all markets in which easyMarkets operates.