CySEC-regulated forex broker easyMarkets announced on Monday the launch of Freeze Rate, a new tool that allows traders to freeze a desired rate before making a buy or sell decision. The tool is available free of charge on its proprietary platform. The broker referred to the new offering as to “another industry first”.
Investors can use the new tool to freeze a position for a few seconds and compare it with the live rates. This feature works both at opening and closing of a position. Based on the information they get, traders can either close a position, or to buy or sell at the frozen rate (if it is better than the real one), or wait for a more favorable market rate. Traders can freeze a single position as many times as they would like.
“The driving force behind our inventions is finding solutions to our traders’ needs. This time we thought “what if you could freeze time before making a decision to place or close a trade”. At first it sounded impossible but we made it happen,” easyMarkets CEO Nikos Antoniades said. The tool will help traders reduce their trading costs.
easyMarkets’ proprietary self-branded trading platform has some other features that are of great benefit of traders. In mid-2016, the broker added a dealCancellation feature that allows traders to cancel a losing deal within an hour of opening.
easyMarkets, which was previously known as easy-forex, is a brand of Easy Forex Trading, a company regulated by the Cyprus Securities and Exchange Commission (CySEC). It offers trading in more than 300 instruments, including forex, CFDs, options, metals, commodities and indices. The broker also offers the so-called Vanilla Options trading, which is a type of options trading in which the maximum risk an investor faces equals their initial investment.