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

site

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.

Read this next

Executive Moves

TradeZero hires Leo Ciccone as Chief Compliance Officer (CCO) for TradeZero Canada

“Leo brings to TradeZero broad and comprehensive experience coupled with deep business and regulatory relationships that will assist us in ensuring we meet and exceed industry best practices and to further our growth initiatives going forward,”

Institutional FX

Apex launches fractional fixed income trading for retail investors

“The ability for people – and not just high net-worth investors – to easily add fixed-income and diversify their portfolios is a game-changer.”

Institutional FX

MarketAxess launches Open Trading for EM local currency bonds

In an era where diversification and hedging against market risks have become imperative, this new feature could very well serve as a linchpin for international investors looking to diversify their fixed-income portfolios with EM local currency bonds.

Industry News

CFTC Chair Behnam’s keynote speech at FIA Expo 2023 focused on FX and Crypto frauds

Over the past fiscal year, the CFTC has levied more than $6 billion in monetary relief through various enforcement actions. The agency is also moving against entities falsely claiming to be CFTC-registered futures commission merchants (FCMs) and registered foreign exchange dealers (RFEDs).

Market News

Australia’s Trilateral Economic Ties with the US and China

Australia’s leading stock market index, the S&P/ASX 200, has been on a downward trend for the past three weeks. From a technical perspective, the price still remains in a consolidation, but the occurrence of lower highs indicates increasing selling pressure, and potentially a descending-triangle.

Digital Assets

Mirror Trading victims to recover 50%-60% of their money back

The liquidators overseeing the Mirror Trading International (MTI) pyramid scheme said they could start returning funds to victims once they receive a court ruling on how to handle claims.

Digital Assets

Celsius aims to start customer repayments in two months

Celsius Network, a crypto lender currently navigating bankruptcy proceedings, revealed its intention to begin reimbursing its customers before the year’s end. This disclosure was made during a hearing on October 2, where the approval of Celsius Network’s reorganization plan was being discussed.

Metaverse Gaming NFT

FBS Unveils Best Day Trading Strategies for 2023

FBS, a global trading platform, reveals criteria for stock day trading in 2023 and highlights seven companies, including Tesla and Apple, as promising options for day traders.

Digital Assets

Sygnum secures full payment license in Singapore

Zurich-based fintech startup Sygnum has obtained approval from the Monetary Authority of Singapore (MAS) to begin offering regulated cryptocurrency services in the country.

<