Established in 2007 under the wing of the E-Global Trade & Finance Group, Inc. in the Virgin Islands, the Forex4you company provides retail traders with online Forex trading services. The company is small but it is still preferred by many retail traders. Every trader is handled with the same care irrespective of their trading volume and amounts. This may be a part of the reason why many choose this high-quality mini Forex broker.
As a trader who is looking for a reliable broker, always research the regulation policy of the broker first. In this case, the Forex4you broker is under the supervision of FSC. The Financial Securities Commission (FSC) is known for strict policies and high standards and works in line with international regulation. This regulatory body maintains transparency of the brokers’ operations (and the market in general), protects customers, and abides by the law.
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Forex4you Trading Platforms
Like many of the great global broker companies, Forex4you sticks with the MetaTrader 4 platform. If you have ever researched about Forex, you must have heard or read about this platform that holds the monopoly over trading platforms in the business. The Forex4you also engaged in trying out the MetaTrader 5, and the platform is currently being tested. At this point in time, it is only available for Demo accounts so far.
- Popular MetaTrader 4 platform available for trading
- MetaTrader 5 enabled for testing on Demo Accounts
- Expert Adviser for automatic trading
- Forex4you mobile app available for trading on the go
The broker wants to make sure that the platform will be as convenient as MT4. The MT4 is not popular without a reason. The platform offers many options like market alerts, trade alarms, trailing stops, etc. Another option that is covered by MT4 is the expert adviser or Forex robot. This technological invention trades on your behalf, completely deprived of the emotional feature that usually makes traders change their mind at the wrong time. Being emotionally deprived, the robot is completely based on a set of mathematical and statistical calculations and tries to predict the events in the market, sticking to the original plan and making adjustments as necessary. The Forex4you broker also provides the downloadable Forex4you mobile app for Android, iPhone and iOS. Mobile apps are preferred by the majority, since they provide easy access and can be used at any time.
Pick Your Forex4you Account
Customers differ in the experience and capital levels. Some of them like to play big, and invest a lot; others prefer to stay on the safe side and invest small amounts. Forex4you offers four types of accounts.
- The first in line and rarely found elsewhere, is the so-called Cent Account. The Cent Account is suitable for beginners who lack the experience or willingness to risk large sums of money. Many bigger broker companies offer demo accounts which are free, but the Cents Account does not differ much since it requires just $1-$10 to set up. Bear in mind that Forex4you is relatively small, and that might be one of the reasons for not providing a demo account.
- Next in line is the classic account used by many experienced traders.
- Pro account offers the best spreads and it is suitable for professional traders who engage in large volume trades
- PAMM account stands for Percentage Allocation Money Management: a special account for money managers who have their own investors’ list.
Spreads and Commissions
Depositing is free of charge. However, they place an additional spread to the given prices from the market quotes. The minimum spread available for a normal account is a 2 pip spread for some of the most popular currency pairs (e.g. EUR/USD). For the Non-Dealing-Desk accounts, the minimum spread starts at 0.75 pips.
Fund Your Forex4you Account: Banking Methods
The Forey4You broker company has a well-developed payment network, from Bank Wire Transfers that include banks in Luxembourg, Bangkok, Singapore, etc., to credit cards and electronic payment systems. Credit cards that are supported include Visa, MasterCard, and China UnionPay. Electronic payment systems include the following: Skrill, WebMoney, FasaPay, and Neteller,
Wire transfers normally take from 1 to 3 business days (when withdrawing money it sometimes takes up to 6 days), while credit card and electronic payments are instantly transferred.
Deposits and Withdrawals with Forex4you
As already stated in this Forey4You review, no commission or fee is charged on deposits. Yet, withdrawals are accompanied by fees. For bank withdrawals, fixed commissions like $40 or €20 are charged. If you make a withdrawal via credit card, a small base fee is charged + additional 1.8%. Withdrawals take from 2 to 6 working days. It seems that withdrawals via electronic payment systems have the lowest fees ranging from 0.5% to 2%, which depends on the electronic wallet of your choice. Payments are also processed almost instantaneously when using these methods.
As one of the most important supporting features, the Forex4you customer support is really convenient and available at request. You can contact them 24/5 via live chat, e-mail, or the phone. If you really need your information instantly then call the customer support or reach out via live chat. Their response time for these two options is 1 minute on average. The average response time for e-mails is usually under 24 hours. With a variety of clients, the Forex4you offers customer support in several languages (e.g. Hindi, Mandarin, Malay, and Cantonese). As you can see from this Forex4you review, this is a bit specific company that might have several more requirements than other brokerage firms, but the result is that as a customer, you get a high-quality service and extremely reliable broker as a business partner.