EASL Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
Business
License
The standard account is Okay but to build customer service is hard to contact. Overall easy sign-up and good to navigate the site. If they can offer live chat support, it can be better and I will change my ratings.
Summary: The Easl brokerage has garnered mixed reviews, primarily due to its unregulated status and potential risks associated with trading. While some users appreciate its customer support and execution speed, the lack of proper regulation raises concerns about the safety of traders' funds.
Note: It is important to recognize that the varying entities operating under the Easl name may lead to different experiences. This review aims to provide a fair and accurate assessment based on the available information.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4.0 |
| Tools and Resources | 3.5 |
| Customer Service and Support | 6.0 |
| Trading Setup (Experience) | 5.0 |
| Trust Level | 2.0 |
| User Experience | 4.5 |
| Additional Features | 3.0 |
How We Rated the Broker: Our ratings are based on a comprehensive analysis of user experiences, expert opinions, and factual data regarding the broker's offerings.
Established in 2015, Easl is a forex brokerage based in Nigeria, specifically located at 9 A, Mike Adegbite Avenue, Lekki Phase 1, Lagos. The broker offers a range of trading services across various financial instruments, including forex, CFDs, commodities, and indices. However, it notably lacks support for popular trading platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5), which are typically favored by traders for their advanced features and user-friendly interfaces. The absence of regulation is a significant concern, as it exposes traders to higher risks and limits their recourse in case of issues.
Easl operates in an unregulated environment, which is a major red flag for potential traders. According to PediaFX, the broker does not have valid regulatory oversight, making it difficult for users to trust their operations. The lack of regulation means that Easl does not have to adhere to stringent financial standards, increasing the risk of fund mismanagement or fraud. This unregulated status has led to warnings from various sources, including WikiFX, which emphasizes the high potential risk associated with trading through this broker.
Easl supports various currencies for deposits and withdrawals, although specific details on the accepted currencies remain vague. The minimum deposit requirement is not clearly stated in the available reviews, which can be a deterrent for new traders. Additionally, the broker does not appear to offer any bonuses or promotional incentives, which is common among many other brokers in the industry.
Traders at Easl can access a selection of asset classes, including forex pairs, CFDs, commodities, and indices. However, the absence of comprehensive information about the range of available instruments may limit traders looking for diverse trading opportunities. According to PediaFX, the lack of well-established trading platforms further complicates the trading experience.
Easl's cost structure is another area of concern. While some reviews mention competitive spreads, the absence of clear information regarding commissions and fees makes it difficult for traders to gauge the overall cost of trading. The lack of transparency in this area can lead to unexpected expenses, which is particularly troubling for those new to trading.
Easl does not specify its leverage offerings, which can be a critical aspect for many traders, especially those interested in forex trading. The absence of popular trading platforms like MT4 and MT5 also limits the trading experience, as these platforms are renowned for their robust features, including advanced charting tools and automated trading capabilities.
Easl appears to be available primarily in Nigeria, with limited information on whether it operates in other regions. This could pose a significant limitation for traders outside of Nigeria, as many brokers offer global access to their platforms.
Customer support at Easl has received mixed reviews, with some users praising the responsiveness and helpfulness of the support team. However, the lack of a robust customer service framework, especially in terms of multilingual support, can hinder the user experience for non-English speakers.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4.0 |
| Tools and Resources | 3.5 |
| Customer Service and Support | 6.0 |
| Trading Setup (Experience) | 5.0 |
| Trust Level | 2.0 |
| User Experience | 4.5 |
| Additional Features | 3.0 |
Account Conditions (4.0): The lack of clarity regarding minimum deposits and withdrawal options raises concerns about account conditions. Without clear guidelines, traders may find themselves at a disadvantage.
Tools and Resources (3.5): The absence of popular trading platforms like MT4 and MT5 significantly limits the tools available for traders, impacting their overall trading experience.
Customer Service and Support (6.0): While customer support has been described as responsive, the overall service framework lacks depth, especially for traders who may require assistance in multiple languages.
Trading Setup (5.0): The trading experience is hampered by the lack of established platforms and tools, affecting execution speed and overall user satisfaction.
Trust Level (2.0): The unregulated status of Easl is a critical concern, leading to skepticism regarding the safety of funds and the integrity of the brokerage.
User Experience (4.5): User experiences vary, with some appreciating the support but many expressing concerns over the lack of regulation and transparency.
Additional Features (3.0): The absence of bonuses or promotional offers limits the attractiveness of Easl compared to its competitors.
In conclusion, the Easl review reveals a brokerage that offers basic trading services but falls short in terms of regulation, transparency, and user experience. Potential traders should exercise caution and conduct thorough research before engaging with this broker, given the significant risks involved.
FX Broker Capital Trading Markets Review
