easyMarkets Deal Cancellation Review

In 2016 easyMarkets (Formally known as Easy Forex) introduced dealcancellation.

Read about our 2020 easyMarkets dealCancellation review below.

By Justin Grossbard / Updated: Tuesday, February 18th, 2020

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Introducing EasyMarkets dealCancellation Feature

EasyMarkets is a forex broker that focuses on those new forex trading or are looking to minimise their risks when currency trading.

To assist these traders several features are on offer including:

  1. Minimum Balance Protection (so traders can’t lose more than their deposit)
  2. Guaranteed stops (to avoid slippage on trades)
  3. Fixed spreads (to provide certainty of trading fees)

A unique feature that was added two years ago was EasyMarkets was dealCancellation (often termed deal cancellation by traders) which is explained below.

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EasyMarkets dealCancellation FAQs

Fees are not fixed for this features and is based on market volatility level in effect at recent times around the trade involved. This fee is variable and is clearly shown when the command to “close” a trade is chosen. From there, it is a simple matter of comparing the fee to the potential loss from the losing trade. If the fee is higher than the loss, traders can let the trade continue if they choose.

There are minimum trade sizes easyMarkets trading, but they are independent and apply to trades regardless of whether or not the trade cancellation feature is enabled. The key things for traders to determine in using the deal cancellation feature is to analyse market volatility at the time of the trade and understand what is the typical price movement over the course of an hour for the instrument being traded, and then structure the trade size accordingly. Our easyMarkets dealCancellation review wants to point out that account size must be considered first with regard to a traders’ acceptable level of risk. Simple math is all that is required for this purpose.

Rest Easy With Deal Cancellation From Easy Markets

No. That would defeat the purpose. The feature is a safety measure in addition to any stop loss orders that are put in place to limit the total exposure of the trade. Profitable traders make more trades, so it would be counterproductive to charge them anything beyond the normal brokerage spread fees applied to every trade.

Easy Forex Deal Cancellation Activation

No. While using the feature will require a trader to select the close deal function to see the trading ticket, a large blue button labelled “Cancel Deal” must be clicked in order to have the money lost returned to the trader’s trading account. Our easyMarkets dealCancellation review found this is a nice option, in that if the fee for cancelling a losing trade is higher than the amount of the loss on the trade, the trader can simply close the trade as he or she would do with any broker. Having this option is worthwhile and should be thoroughly understood.

In short, yes.

easyMarkets are the following regulatory bodies. Australian Securities and Investment Commission (ASIC) and Cyprus Securities Exchange Commission (CYSEC). These regulatory bodies ensure the forex broker meets international standard of financial security. When you open a trading account, your forex broker my keep your funds in segregated accounts. This ensures you investments are secure and safe.

Compare EasyMarkets To The FX Brokers Below:

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