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Forex4you Forex4you Review

Forex4You Review, News and Promotions

RATING: 3 / 2 REVIEWS Forex4you
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Trading Accounts

 

Account type
 Minimum deposit 
Minimum trade size
Maximum leverage
Average Spreads
Execution Type
Cent 
$1 ($100 for NDD)
0.01
1:1000
DD Fixed, 2 pips on EUR/USD
NDD Variable 0.3 pip + $10 per lot
Instant
 
Market
Classic
$1 ($100 for NDD)
0.01 
1:1000
DD Fixed, 2 pips on EUR/USD
NDD Variable 0.3 pip + $8 USD per lot
Instant
 
Market
Pro STP
$100
0.01
1:200
Variable 0.2 pip + $10 per lot
Market
PAMM
$20 
0.01
1:1000
Fixed, 2 pips on EUR/USD
Instant


Like most forex brokers, Forex4You offers its clients a choice of several basic account types in order to suit the needs of traders of all levels of experience and preferences. What is more, on Cent and Classic account types traders can choose between fixed and variable spreads, Dealing Desk (DD) and No Dealing Desk execution (NDD).


In addition, micro lots can be traded on all account types, and swap-free (Islamic) services, tailored at clients who are not willing to earn interest for religious reasons, are available to Cent account holders.


Besides, Forex4You provides VIP services: individual approach and special conditions are offered to clients with account balances amounting to $50,000 or more.


The Company. Security of Funds


Forex4You is a FX broker, offering online trading in currency pairs, stock CFDs, as well as precious metals through the MetaTrader4 platform.


Founded in 2007, Forex4You is a brand of E-Global Trade & Finance Group, Inc., a financial services company registered in the British Virgin Islands and licensed by the BVI Financial Services Commission.


The BVI Financial Services Commission is the single financial services Regulator within this jurisdiction. Although offering regulated status, the British Virgin Islands currently still allows companies to be entirely based overseas. Furthermore, BVI-registered financial services providers do not face many of the requirements that brokers based in the US or UK do. For example, BVI-registered brokers are not required to contribute to a compensation scheme and are not subject to any minimum capital requirements.


So, if you intend to invest more money, we would advise you to choose among UK, Swiss or other well-regulated brokers, where your funds will be protected. If you, however, prefer offshore ones for some reason, Forex4You is a reliable choice. It may not be compared to all emerging brokers, choosing an offshore island as their place of registration because of the less costly registration procedure and the light touch regulation, if any. Forex4You is an award-winning broker with almost 10 years of experience in this sphere. What is more, this broker ensures proper client fund segregation and has trustworthy well-regulated liquidity providers.


Trading Conditions


Minimum Initial Deposit

In order to open an account with Forex4You, one has to deposit just $1 for Dealing Desk accounts, which is a reasonably low amount, considering the looser regulation. In comparison, ForexBrokerInc registered in Marshall Islands demands $100 from its clients as a start, and LiteForex – $10.


Spreads & Commissions

Forex4You offers both fixed and variable spreads. Fixed ones are available on the Dealing Desk (commission free) Cent and Classic accounts and amount to 2 pips on EUR/USD, which is average for the forex market.

Variable spreads, on the other hand, are averaged 0.3/0.2 pips on EUR/USD and involve a commission of $8/$10 per standard lot respectively (on the Classic/Pro account). So basically the trading costs on variable spread accounts are around 1.2 pip, commission included, which is also average.


In comparison, LiteForex offers variable spreads averaged 1.1 pips on EUR/USD on its ECN account. You may look up and compare real-time spreads of 15 leading brokers here.


Maximum Leverage

As for leverage, the maximum leverage, offered by this broker is: 1:1000. Such leverage ratios are considered high, nevertheless many offshore brokers offer similar ones: LiteForex, for instance, also provides leverage up to 1:1000, and ForexBrokerInc - up to 1:500. Such leverage levels enable traders to make striking profits when the markets move in their favor, however, this also could result in excessive losses if the market moves against them.


You may look up a list of FX brokers, offering leverage equal to or exceeding 1:500 here.


Trading Platform


Forex4You offers its clients the standard forex market trading platform MetaTrader4 (MT4). It is available as desktop and mobile versions.


MetaTrader 4 is the preferred choice of most trading professionals. This platform offers all a trader needs: a number of technical indicators, advanced charting package, a wide range of Expert Advisors (EAs) and extensive back-testing environment. Traders can download ready-made or create their own automated trading strategies and simply let the program do all the work.


What is more, Forex4You has partnered with Plug & Cloud (Infobox subsidiary) to provide its clients with a VPS (Virtual Private Server) which allows them to run automated algorithmic strategies 24 hours a day 7 days a week on a virtual machine.


Besides, this broker has developed its own copy trading platform, called Share4You. It enables instant order auto-copy service for orders made on Forex4you.


Promotions
In addition, this broker offers its clients up to 25% on deposit bonus program, with which you can get back up to 17.5% of the spread. This program does not apply to the STP Pro accounts.


Methods of Payment


Forex4You account deposits and withdrawals can be performed by the following payment modes:


- Bank wire transfer;
- Credit/Debit card – Visa, MasterCard;
- e-wallets: Skrill (Moneybookers), FasaPay, WebMoney, Neteller and China UnionPay.


The broker recently announced it will compensate 100% of commissions for deposits via e-payment networks Neteller and Skrill and 1.5% of the fees of clients of all other payment systems it supports.


Conclusion


Forex4You is an award-winning FX broker operating under the looser regulation of BVI’s Financial Services Commission. To sum things up, here are the Pros & Cons in relation to this broker.

 

Pros  Cons
Low minimum initial deposit  Light touch regulation
MT4 available  Only one trading platform offered
High leverage levels   
Own Autotrading platform Share4You  

 

Latest news about Forex4you
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Traders` reviews for Forex4you

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Forex4you: MT4, good spreads, fast execution, easy withdrawal

I am very satisfied with Forex4you on a number of fronts:

-reliable MT4 trading platform
-very competitive spreads
-fast execution
-easy withdrawal of funds
-great customer service

I now trade exclusively with Forex4you after having traded with a number of other brokers in the past.

I would certainly recommend Forex4you to any new or existing traders.

Кatrin 09/25/2011

Forex4You review

Recommended this broker because number open position at the same period with no limit,great service, fast orders.

Paul 08/28/2011
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