With a Healthy Holiday Spirit, easy-forex Dishes up a 61-Course Feast
Easy-Forex has almost doubled its product range for Australian clients as the broker looks to adjust to changing client preferences
easy-forex Australia, the Aussie-based unit of parent company Easy-Forex, announced today that the company is sharply expanding its product lineup from 79 to 140 products, specifically heavy on Russian ruble FX pairs. The company is “dishing up” the expansion to coincide with various national holidays this week, with a quirky title to their press-release: “Baklava, malva, goulash and vodka.” All in the holiday spirit.
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Forex Magnates previously reported on easy-forex’s plans to expand its range of precious metals contracts as well as FX pairs in 2014, as the CFD provider outlined its plans. Today, at least a portion of those plans were officially announced and initiated for clients with more on the horizon, as the company “continuously looks to extend its product range.”
The full list of instruments added is shown below:
The 61 added instruments mean that easy-forex Australia will now offer 96 currency pairs, 22 metals contracts, 16 equity index contracts, 13 commodity contracts and 26 vanilla option instruments to their Australian client base.
“The comprehensive offering allows traders to take advantage of market action across the globe with access to a more diverse range of products and a greater potential to maximise their earnings,” says easy-forex Australia. The company’s Managing Director, Robert Francis added, “These added pairs will allow our traders to maximise the forex trading experience to its full potential. We expect pairings with the US dollar, the euro and the yuan to be the most popular and gold the metal of choice for ruble traders.”
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Takeaways
The most significant element of today’s announced expansion is the addition of 18 Russian ruble pairs, given the ongoing media focus on Russia and its currency due to the ongoing Ukraine conflict sparked earlier this year and the broader ‘frosty’ relations between the U.S and Russia that has led to economic sanctions and threats of trade wars from both countries.
Russian ruble volatility has further been exacerbated by the parallel spike in commodity and metals price uncertainty (and volatility). Markets such as oil, gas and metals have also been affected by the aforementioned factors. Raw materials including oil, gas and metals represent approximately 30% of Russia’s gross GDP and 70% of total exports. If prices in these markets move suddenly, Russia’s economy does likewise.
The combined effects has left the Russian ruble trading at multi-year lows of 38.77 at the time of writing. The peak in USD/RUB in 2008 was around $36 backed by extensive USD repatriation demand due to liquidity shortages in international money markets.
The Russian ruble has been declining on a broad basis against all other currencies since June 2014, and with further instability on the horizon due to no resolution in either Ukraine, the Middle East or in US-Russia relations, ruble volatility is likely to have plenty more steam.
With RUB crosses back on speculator watchlists due to its “profit potential,” easy-forex is delivering an extensive set of instruments that suit current market conditions and trends. As far as easy-forex traders are concerned – dinner is served.
This will open up some Nast arb flow if not structured properly.
@Jeff don’t worry, easy forex spreads are super high where nobody can even arbitrage or make money without arbitrage. Eurcad for example where everywhere the spread is 1 to 1.5 pips, at easy forex is 13 pips. So when u pay 10 times the cost to trade with them, there is no way u can make money
@James you obviously haven’t visited their site recently. Spreads are still high but not as high as you suggest.
@John, ok I made a mistake, EURCAD spread is 10 pips on easy forex compared to 1.5 pips on others. so the cost is 7 to 10 times higher to trade with them. who is going to trade with them? 😉
maybe the spread is high on some crosses but a spread of 1.8 pips on the eurusd with NO SLIPPAGE whatsoever on Stop losses and no chnage in leverage before news announcements regardless of volatility isnt that bad, no ?
Let me add that it is a fixed spread, and not variable. so you have a fixed spread with no slippage – also on the mt4 platform.
I particularly liked the NO SLIPPAGE with capital letters, on stop losses with small letters that tries to underestimate people’s mentality and mislead clients.
In other words, you will be GIVING SLIPPAGE ON ALL OTHER TYPE OF ORDERS APART from stop loss. Nice!
No wonder why easy forex is heading down the drain fast.
@Mike you obviously have some kind of empathy with easy forex. In what way is it going down the drain fast?
Hello there traders!
I am actually trading with easy-forex (and FXCM, and FxPro) and their offering is pretty good and transparent in terms of pricing and execution.
@Mike have you experienced slippage in market orders? I am asking because I haven’t.
Trader for life,
following the 3 ducks system since 2011
@sembi @mark @captain currency Well i agree that there is no slippage on stop losses, but also there is no slippage on take profits, which means if you had a take profit at x, and you are supposed to make x+100 pips after news, you only get x. As for market orders, and for closing them, there is lots of slippage, actually if you are losing and the market is moving against you, you cannot close at all, and you keep getting market has changed, try again. If you are making profit, and you try to close, and if the… Read more »
i think Nicholas Shamtanis is the only person who can save the company. They should make him the CEO.
@James I think you should refrain from mentioning names of people in your comments unless you reveal your real name. (this goes to forexmagnates as well which is supposed to moderate comments). It is unethical to hide behind anonymity in order to write things about specific people in the industry. As far as easy forex execution comments above I suggest you contact the company and get your facts straight as I trade with them and most of the things you mention above are not correct.