EZinvest – Great Forex Brokers Review

ezinvest.com briefly

The ezinvest.com website is owned and operated by WGM Services Ltd, which was established in 2013 and is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). EZinvest is an industry leading choice for online trading in currency commodities and indices, the company claims. Customers can trade currency pairs, indices, commodities, shares, and cryptos through two of the most popular trading terminals in the world – MetaTrader 4(MT4) and SIRIX Webtrader. You can open a live account by investing at least EUR500.

Regulation

We recommend that you trade only through regulated brokerage companies, so it is particularly important whether and where the company is regulated. EZinvest is a registered brand name of WGM Services Ltd (Win Global Markets), which is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 203/13. This license authorizes the company to provide brokerage services to all European Union (EU) member states. It complies with all applicable EU and local regulations including the European Markets in Financial Instruments Directive (MiFID) and MiFID II. The company is a member of the Investor Compensation Fund (ICF), which aims to provide protection and compensation for cash payments when a company member of the fund is unable to meet its obligations. Clients of EZinvest are protected by the Investor Compensation Fund (ICF) up to EUR20,000 per person.

Account Types

We recommend that you open a demo account first. You can trade risk free here because the money is virtual. The demo account offers access to all the same features as the real one but is funded with virtual money.

EZinvest offers three types of trading accounts that differ mainly in the required initial deposit, offered spread, and the instruments offered.

Bronze account – The minimum deposit here is EUR1,000 and you receive floating spreads starting at 3 pips. Trading on currency pairs is commission free but you will be charged EUR10/lot as a futures commission, 1% as a stock commission, and 0.5% as a cryptocurrency commission.

Gold account – You must invest at least EUR25,000 to open this type of account. You will receive floating spreads starting from 1.5 pips. Trading on currency pairs is commission free but you will be charged EUR10/lot as a futures commission, 1% as a stock commission, and 0.5% as a cryptocurrency commission. In addition, you receive a dedicated account manager, exclusive market updates, and once a month – trading advisory support.

Platinum account – You must invest at least EUR100,000 to open this type of account. You will receive floating spreads starting from 0.5 pips at the expense of a commission of EUR7/lot when you trade currency pairs. In addition, you will be charged EUR10/lot as a futures commission, 1% as a stock commission, and 0.5% as a cryptocurrency commission. You will also receive a premium educational package.

Professional account – If you are classified as a professional trader, you can open Gold Pro and Platinum Pro accounts. You get the same conditions as for retail traders plus higher leverage up to 1:200.

Market Maker or STP Brokerage?

The “Terms and Conditions” and the “Execution Policy” documents show that the company is the counterparty to all customer’s trades and although it may transmit your orders for execution to third party liquidity providers through its Electronic Communication Platform, contractually the company is the sole counterparty and the sole execution venue to your trades. All trades are on a principal-to-principal basis, or the company acts as a market maker. It generally makes its money from the spreads but a client’s loss may result in the profit for the company. This involves a conflict of interest because when the company executes orders, it keeps the risk to itself.

It is also written that once triggered, stop loss trades are executed as market orders at the best available rate on the market and not necessarily the requested rate. Therefore, stop loss orders might get slippage. This means that stop loss orders are not guaranteed and all types of orders are subject to slippage and the company informs it is a normal phenomenon during the period of low liquidity or high volatility. The orders will be filled at the next available market price.

The “Terms and Conditions” document states that all the retail clients are covered by “Negative Balance Protection“. This means that EXinvest ensures that losses will never exceed the client account balance.

Fees

If there is no trading activity in your account for more than six months (there is no trading, withdrawals, or deposits), it has become inactive, and the company reserves the right to charge a monthly inactivity fee of EUR/USD/GBP50 relating to the maintenance, administration, and compliance management of such inactive accounts. Any account that is inactive for a period of 12 months (360 days) will then be considered as dormant. Once categorized as “Dormant account” a dormancy fee will apply which will be the greatest between EUR200 or 3% of account balance. The Dormancy fee will be charged either until the account balance has been reduced to zero, or your account is reactivated. Of course, there are common fees such as spread, swap and rollover.

Deposits and Withdrawals

Customers can use several deposit methods such as wire transfer, credit/debit cards, and alternative methods such as Skrill, Neteller, powercash, dotpay, etc. Skrill payments using Bitcoin via “Skrill Wallet Checkout” will incur a fee of 6.5% + EUR0.29 on the value of each transaction. The minimum amount to open an account and start trading is EUR500. EZinvest does not charge customers for deposits but the banks might charge them a transfer fee. Usually, credit or debit cards and e-wallets are immediate to get processed while wire transfers require 3 to 5 business days.

To withdraw funds, you should fill in the withdrawal request form from the “Withdraw Funds” tab. Funds will be transferred directly to your bank account by wire transfer, returned to your credit card or your e-wallets. The withdrawal will only be made using the same method you used for depositing your funds. Withdrawal requests are usually processed within three to five business days, the company states. 

Trading Platforms

You can trade through two trading platforms – MetaTrader 4 (MT4) and SIRIX. MT4 offers a unique combination of accessibility and advanced features. Professional charts, many drawing objects and a set of asset classes are available at the same time. You can use a variety of custom indicators, including these developed by the company. MT4 also offers a comprehensive suite of tools for technical analysis. It is fully customizable and allows you to import third-party tools or write your own ones. With MT4 you can create automated trading operations, develop, test, and improve automated trading strategies using the so-called Expert Advisors (EAs). This is an automated trading software, which places, modifies, and closes positions. The terminal is available as a desktop version and as mobile app for iOS and Android tablets and smartphones.

SIRIX Webtrader is an innovative trading platform that has completely revolutionized the way trading is done online. It has a friendly interface and offers one-click order execution, intuitive workspace and easy access to technical indicators and chart analysis.

Assets

EZinvest offers the following asset groups for trading:

Forex – More than 50 popular major, minor, and exotic currency pairs can be traded. The typical spread for the EUR/USD pair is 0.6 pips in the Platinum account.

Indices – You can trade 22 of the most popular major and minor indices globally, such as WS30, SPX500, FTSE100, CAC40 etc. The typical spread for DAX40 is 30 points. There is a commission of EUR10 per lot traded.

Commodities – 28 of the most traded commodities are available such as gold, silver, oil, wheat, corn, sugar, etc. The typical spread for Gold is USD4.22. There is a commission of EUR10 for some of them.

Shares – the company offers over 260 CFDs on shares of major companies such as Apple, Bank of America, eBay, Google, etc. The average spread for Apple Inc is USD0.54. There is a commission of 1% per lot traded.

Cryptocurrencies – You can trade 14 cryptocurrencies as CFDs with leverage 1:2. The average spread for Bitcoin is USD42. There is a commission of 0.5%.

Summary
EZinvest has a CySEC regulation, which allows it to provide financial services across the European Union. It is a market maker, which involves a major conflict of interest. The company provides a wide range of trading instruments via the most popular trading terminals MT4 and SIRIX. There are three types of real accounts, and you can start trading by investing EUR500. Spreads become attractive only when you open a “Platinum account” that requires an investment of at least EUR100,000. Deposits and withdrawals are processed free of fees.