Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) Broker Review.
Based and licensed in the British Virgin Islands, Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) is definitely not a new player on the online FX/CFD block. Launched in 2007, it is in fact one of the veterans of the industry and as such, it has indeed had plenty of time to rack of feedback from its users.
Interestingly, unlike most of its peers (let us not be shady about this well-known truth), it is still considered to be a reputable trading destination by those who actually make use of its services. To create such a reputation over more than a decade in this business is a very impressive accomplishment, which means one thing: the Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) people are definitely doing something right.
The official Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) website is great at putting the broker's best foot forward too. The way it describes the operation in just a few numbers is impressive and amazing at the same time.
According to it, it looks like the broker has thus far registered more than 1.6 million trading accounts, executing more than 873 million orders. 8 languages are supported by the broker, together with a rather impressive number/selection of deposit/withdrawal methods.
The corporate background and regulatory status of the operation are among its least impressive attributes.
The company behind the brand is E-Global Trade and Finance Group Inc. It is based at First Floor, Mandar House, Johnson's Ghut, P.O. Box 3257, Road Town, Tortola, British Virgin Islands. When it comes to trustworthy jurisdictions with solid regulation, the British Virgin Islands are nowhere near the top of the list for anyone. The agency that regulates Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) is the local FSC. The license number of the operator is SIBA/L/12/1027.
Why should a beginner (or advanced) trader join Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) though? What are some of the unique selling points and exclusive draws of the brokerage?
Multiple trading platforms are offered, among them MT4 as well. It is always a good thing to have options in this regard, though having MT4 in one's corner is always a good idea as well. In this regard, the broker really does deliver the perfect setup.
Unhindered by regulatory shackles which forbid most brokers from offering any kind of promotions at all (especially the type that encourages traders to make more substantial deposits), Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) have put together a very interesting offer in this regard.
They have a fist deposit bonus, which is quite generous at 100%, a cash-back deal, which - at 50% - cannot be shrugged off either, as well as a selection of interesting trading contests which reward participants for racking up profits...what more could one want in this regard?
Social trading was deemed to be the future back in 2013, when Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) launched their service. Although that may not have unfolded the way many thought it would back then, it is indeed a nice perk to have, and the broker does indeed still field a solid social trading component.
In addition to a generous selection of demo and real money account types, Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) also offers PAMM accounts, allowing account managers to handle large portfolios at a few clicks. Though this feature is probably not meant to appeal to the masses, it is always a valuable option to have on the table.
Among the multitude of tradable assets the broker features, cryptocurrencies are available too. Some of the most dynamic assets, cryptos present a plethora of challenges and potential rewards to traders. It has to be pointed out though that Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) does not actually sell/buy "physical" cryptos. Rather, it offers crypto-based CFDs - financial derivatives - for trading.
Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) Trading Platforms.
We mentioned above that alongside MT4, the broker has made its own, proprietary trading platforms available as well. Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) Trader comes in three different versions: a web trader, a desktop trader and a couple of mobile apps for Android and iOS.
This proprietary trader is simple and easy on the eyes, while offering a more than decent range of trading- and drawing tools. There are a few interesting twists included in it too, like the slippage controller, which lets traders set their slippage tolerance (and yes, they can in fact set it to 0 too).
Compulsory order closing can be set in a similar manner, and details on the available liquidity pool can be visualized.
MT4 on the other hand is a well-known and quite ubiquitous trading platform, which is widely considered to be the best in the business. Its charting capabilities are peerless, as are its trading tools and special features, such as the popular EAs (Expert Advisors).
The platform is in essence a fully customizable trading environment, which lets traders create and install their own technical indicators and custom scripts, in addition to the ones already included in the freely downloadable package.
Expert Advisors can be installed as well, and the MQL developers' environment allows the creation of new ones from scratch.
With the mobile and web trading solutions added to the mix, it is safe to say that Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) have all the bases covered in terms of trading platforms.
The broker supports a free Demo account, as well as no fewer than 5 real money account options.
None of these real money accounts feature a minimum deposit requirement. That said, traders will obviously have to deposit some real money if they want to execute actual orders.
The Cent Account is a reasonable option for those looking to start trading on a cautious note. It charges no commissions and it features fixed spreads from 1.5 pips.
The Classic Account offers superior execution speeds and spreads from 2 pips. No commissions are charged on this account either.
The Cent NDD Account does away with the fixed spread and introduces floating spreads coupled with commissions. These spreads start from just 0.1 pips and the commissions charged are 10 cents per lot.
The Classic NDD Account takes the same concept one step further. It too features floating spreads starting from 0.1 pips and it too charges a commission, though in its case, this commission is $8 per lot.
The Pro STP Account is in a league of its own. Unlike the other accounts in the above lineup, it does not grant traders access to the promotions offered by the broker.
The spreads on this account start from 0 pips, but the commission is 10 base currency per lot.
Since it is not regulated/licensed in the EEA, the broker has the freedom to offer various promotional deals that are contrary to the regulatory requirements of the above said jurisdiction.
It offers a 100% deposit bonus for instance, which is clear encouragement for traders to make larger deposits. That is only the tip of the promotional iceberg though.
There is a 50% cash-back program in place too, which offers rebate on the commissions/spread paid by the traders. This deal is not time-limited and the rebate can be as high as $10 per lot on the EUR/USD pair.
The Trading Hero Contests offer prizes of $400 every two weeks, to those who prove to be the most profitable during the promotional period.
To participate in these contests, traders are required to register manually.
On top of everything, the operator offers a $30 welcome bonus too.
Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) is a more than reasonable offshore trading destination which enjoys a good reputation among traders.
Forex4you (https://www.forex4you.com/en/?affid=ae89d5a) support can be contacted via Live Chat, email and phone.
[email protected] is the email address while the phone number is +44207 193 9932.