LEGAL DISCLAIMER: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
What is EZInvest?
EZInvest is an FX/Crypto Broker regulated and authorized in Cyprus by CySEC (the Cyprus Securities and Exchange Commission). It was launched in 2013.
The platform is a so called derivatives platform, meaning that they focus on derivatives trading, or more specifically "CFDs". A derivative is an instrument priced based on the value of another asset (normally stocks, bonds, commodities etc). In the cryptocurrency world, derivatives accordingly derive its values from the prices of specific cryptocurrencies.
Supported CFD Contracts
EZInvest's crypto division offers trading in a selected number of different cryptocurrencies. Namely, Bitcoin, Dash, Ethereum, Litecoin, Monero, Ripple and XDG.
EZInvest does not allow US-investors to trade on the platform. So, if you’re from the US and would like to engage in crypto trading, you will have to look elsewhere. Luckily for you, if you go to the Exchange List and use our exchange filters, you can sort the exchanges based on whether or not they accept US-investors.
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that EZInvest’s trading platform is also mobile compatible as apps for both iPhones and Android users.
EZInvest Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen CFD-contract and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you.
Unfortunately, we have not been able to obtain a picture of the trading view at EZInvest yet. But we will post it here as soon as we do.
EZInvest also offers leveraged trading, but only up to 2x for their crypto CFDs (4x if you have a Pro Account).
Leveraged derivatives trading can lead to massive returns but – on the contrary – also to massive losses. For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD. As you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, there is potential for huge upside but also for huge downside…
When you trade at a FX/Crypto Broker like EZInvest, you have to pay trading fees. However, the trading fees differ in their structure compared to the trading fees at a centralized crypto exchange for instance. At an FX/Crypto Broker, you need to consider the following fees in your trading: spreads, overnight fees and (possibly) inactivity fees.
Let’s start with explaining what a “spread” is. Spreads are the main fee of any CFD Trading Platform. In essence, it can be compared to trading fees at centralized crypto exchanges. It is the mark-up or mark-down charged by the platform when you purchase a certain crypto CFD. So if the price of the relevant CFD is USD 100, and the spread is 1%, the buyer can buy the crypto CFD on the trading platform for USD 101 (or sell it for USD 99). The difference between the sell price and the purchase price (USD 1 in this case), goes to the trading platform.
EZInvest has two fees: spread and commission. Their spread for the BTC/USD-contract, is 42 USD. This means that if the BTC-rate at any given point in time is USD 60,000, then you can buy a BTC-CFD at EZInvest for USD 60,021, and you can sell it for USD 59,979.
In addition to the spread, they also charge a commission here amounting to 0.50%.
The above fee model is not very competitive in comparison with EZInvest's industry peers (e.g. Skilling). On the contrary, these fees are actually quite high
EZInvest CFD Overnight Fee
What is an overnight fee? An overnight is the fee charged by the platform when you hold a position (i.e. a Crypto CFD) overnight. It's as easy as that. Seeing as it is charged every night, it is small, and a trader will of course hope that his position will be successful enough that he won't even notice the overnight fee as the value of his position appreciates.
Unfortunately, as of 29 December 2021, we have not been able to find any information on the overnight fee for crypto CFDs charged by EZInvest. We will follow up with the platform in order to obtain this information as soon as possible.
EZInvest CFD Inactivity Fee
An inactivity fee is a fee that is charged if you have not logger in to your trading account for a certain period of time. EZInvest has one (just like eToro, Plus500, IG Markets and FXCM Markets).
The size of the inactivity fee at EZInvest is dependent upon which curreny your account is denominated in. For EUR-accounts, it is EUR 50, GBP-accounts GBP 50 and USD-accounts - you guessed it - USD 50. So, when does EZInvest charge the inactivity fee? We don't know. They state on its website that:
"it is not requisite for the company to explicitly inform the account owner before or when their trading accounts were to be categorized as ‘inactive’ or charged the inactivity fee."
This is something we think that the platform needs to change ASAP. Customers must have clarity in when fees will be charged and not.
EZInvest CFD Dormant Fee
In addition to the "surprise inactivity fee" that can be charged essentially whenever by the platform, they also have a Dormant Fee when your account has been inactive for 360 days. The Dormant Fee is "the greatest between EUR200 or 3% of Account Balance".
EZInvest Withdrawal fees
Seeing as you never really hold any cryptocurrency at this platform, but only contracts connected to such cryptocurrencies, there is no real point in stating a BTC-withdrawal fee here and then comparing that to the corresponding BTC-withdrawal fees at other platforms. The only thing you withdraw here is money.
According to information we have received, this particular platform does not charge any withdrawal fees at all. This almost seems too good to be true, so we have asked the platform to verify the information. We'll let you know once we have received such verification.
At EZInvest, you can deposit fiat currency in a lot of different ways, including (but not limited to) wire transfer and credit or debit card. This is naturally very helpful for someone that needs an easy way to access his/her trading platform.