When you erase an iphone of all of its content & settings, does this mean EVERYTHING is wiped?

I wiped my old iphone because i got the new 6s. So my icloud is in use on my current phone, but i wanted to know, that since i wiped out my old on. Does that mean it would be safe to give it to a family member or close friend to use? Without having my personal info. On it?

I'm pretty sure that Erase All Content and Settings is pretty self-explanatory isn't it?

EVERYTHING on it is erased.

Yes, it will need your password also so icloud is removed then they can set it up as their own.

You can recover it, if you need to protect your personal data do try Leo Privacy Guard.