Editor’s Verdict
Forex4you established itself as a trusted unregulated broker home to 2M+ accounts, presenting its proprietary trading platform alongside MT4, with services from Trading Central. Beginner traders get quality education and a copy trading service with an active community. Trading costs rank in the middle of the pack, and I conducted a review of this broker to evaluate if Forex4you is the broker you were looking for, as it claims. Should you trade at Forex4you?
Overview
Copy traders will find the propriety service at Forex4you with 1,000+ strategies and 70%+ profitability a competitive offer to consider.
British Virgin Islands FSC Mauritius 2007 ECN/STP, Market Maker, No Dealing Desk MetaTrader 4, Proprietary platform
Forex4you became operational in February 2007; it is owned by E-Global Trade & Finance Group, Inc., with its registered office in the British Virgin Islands. Over the past 13 years, per its own account, clients have opened more than 2,200,000 trading accounts. The 100% deposit bonus and 50% cashback program, together with its proprietary copy trading system, Share4you, represent the pillars of its success. New traders have access to an excellent educational program, and Forex4you sources market commentary and research from FXStreet (in six languages) and Trading Central. Its primary brokers and liquidity providers are Sucden Financial (UK), LMAX (UK), Interactive-Brokers (US), and IG Markets (UK). In 2016, Forex4you released its liquidity aggregator, MarketPlace. Anglo-Dutch Big Four accounting firm KPMG audits the accounts of Forex4you. While this multi-asset broker accepts clients from most countries, it has a distinct focus on Asia.
Regulation and Security
The Financial Services Commission (FSC) of the British Virgin Islands (BVI) regulates E-Global Trade & Finance Group, Inc., the owner of Forex4you. It maintains a clean regulatory track record and also has an aggregate of $5,000,000 indemnity insurance with Willis Limited in the UK. Forex4you segregates client deposits from corporate funds, maintains a capital adequacy program that increases annually as the company grows, uses well-regulated liquidity providers connected via the market-leading FIX API, and implements advanced risk management.
Big Four accounting firm KPMG is the external auditor, and Forex4you provides annual updates about its performance and statistics. The Management Assertion Report with Independent Limited Assurance Report is available from the website as a downloadable PDF document. Forex4you is a trustworthy broker and takes steps to ensure its clients have a secure, reliable and technologically advanced trading environment. The success of its approach is evident in the displayed growth, as audited by KPMG.
Forex4you maintains a transparent business structure.
The broker maintains regulatory oversight of the Financial Services Commission (FSC) of the British Virgin Islands (BVI).
Forex4you has implemented a series of features to ensure the safety and security of client deposits.
Indemnity insurance with Willis Limited is also present.
Ensuring transparency, the annual Management Assertion Report with Independent Limited Assurance Report is available for download as a PDF.
Fees
Forex4you derives most of its revenues from spreads and commissions. Both the Cent Account and the Classic Account feature a commission-free minimum mark-up of 2.0 pips. The Cent NDD and Pro STP accounts grant traders access to 0.1 pips for a commission of $0.10 per micro lot and $8.00 per standard lot, respectively. The former two are fixed-spread accounts, while the latter two are floating-spread alternatives. This broker waives deposit fees, though external fees for withdrawals set by the payment processor may apply. A monthly $10 inactivity fee (or its currency equivalent) applies after twelve months of dormancy; most competitors charge an inactivity fee far sooner. The overall cost structure is even more competitive with the 50% cashback program, which is available to non-partner clients. This market maker does offer NDD and STP execution models.
MT4 traders can easily access swap rates from their platform by following these steps:
1. Right-click on the desired symbol in the Market Watch window and select Symbols. 2. Select the desired currency and then click on Properties located on the right side. 3. Scroll down until you see Swap Long and Swap Short.
The cost structure at Forex4you is above-average across all account types.
What Can I Trade
Forex4you offers trading in 40+ currency pairs, four commodities, 50+ equities and 15 indices, which is a sufficient asset list, particularly for new traders.
Forex4you fails to provide a detailed asset list.
Account Types
Clients may choose between four account types, two commission-free, and two commission-based. All have maximum leverage of 1:1000 with no minimum deposit requirements, allowing traders to select the trading conditions most suitable to their needs. The Cent NDD account qualifies for the 50% cashback offer, and the execution speed is superior in the Pro STP account, which also grants the broadest asset selection.
Forex4you presents a comparison of its various account types.
Trading Platforms
MT4 | |
|---|---|
MT5 | |
cTrader | |
Proprietary Platform | |
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
Forex4you notes 19 trading platforms and the availability of 150 instruments.
The Forex4you proprietary trading platform is an attractive choice for manual traders.
The core MT4 trading platform presents the best choice with the Autochartist plugin. It also caters to automated traders.
The Autochartist MT4 plugin upgrades the MT4 trading experience.
Unique Features
The Share4you copy trading system is a unique feature at Forex4you. It allows traders to follow more than 1,000 strategy providers, labeled Share4you Leaders. Forex4you claims that over 70% of all copied trades are profitable, which would make it one of the most successful copy trading services available. Since there are no restrictions from Forex4you regarding strategies, Share4you Leaders may use automated trading solutions.
Over 70% of copied trades via Share4you are profitable, according to the broker.
Share4you Leaders will set their desired commission.
Research and Education
Forex4you does not provide in-house research but sources market commentary and an economic calendar from FXStreet. Additional market coverage is available from DowJones. It also provides trading signals and financial news from Trading Central and Trading Central WebTV. Traders can subscribe for signals by Trading Central in the Trader Room. Forex4you does provide Autochartist as an MT4 plugin. The overall research capabilities at Forex4you remain competitive and offers manual traders an excellent set of tools.
FXStreet and Trading Central provide research at Forex4you.
Market commentary from DowJones increases the value of research at Forex4you.
Education is where Forex4you delivers a competitive product. New traders have an in-depth trading school, broken down into four sections, consisting of 59 quality lessons. It is one of the most comprehensive ones available and is free of charge. Complementing the school are 17 video tutorials and 21 additional articles. Forex4you also hosts seminars but, currently, only in Asia. The overall educational value provided by Forex4you represents one of the most significant asset this broker offers to clients and sets it above the competition.
The Forex4you trading school consists of 59 quality lessons.
Traders also have 17 video tutorials to increase their core knowledge.
An additional 21 Forex articles increase the educational value at Forex4you.
A series of seminars across Asia caters to its core client-base.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/7 |
Website Languages |       |
Forex4you provides clients with 24/7 customer service in eight languages. The best way to reach out to them is via live chat or site call, but e-mail, phone, and the Trader Room present other alternatives. The FAQ section answers the most common questions, and many traders may not require assistance at this well-managed broker, as it explains trading aspects properly. In case of emergencies, Forex4you ensures swift access to around the clock support.
Customer Support is readily available 24/7, in eight languages.
Bonuses and Promotions
Forex4you offers traders two bonuses and one promotion, which remains essential to its marketing strategy. The Trading Hero Contest takes place in live demo accounts and awards the 30 most profitable traders each month with the top prize, which is $400. The 100% deposit bonus is straightforward; Forex4you will double your deposit, up to five per account, with no limit. Those who understand the terms and conditions can boost their portfolio significantly with this offer. It remains a viable opportunity for traders with a long-term horizon. The 50% cashback program will lower trading costs for clients in a non-partner account.
Most traders can take advantage of any of the three offers at Forex4you.
Opening an Account
A simple online application handles new accounts. Traders must provide their name, e-mail, phone number, and a desired password. Forex4you is a regulated Forex broker, and account verification is mandatory. New traders can satisfy this requirement by submitting a copy of their ID and one proof of residency document not older than three months.
The online account opening process is straightforward and simple.
Deposits and Withdrawals
Forex4you supports bank wires, credit/debit cards, Skrill, Neteller, and WebMoney. The minimum deposit ranges between $1 and $10, with processing times listed as instant. The minimum withdrawal amounts are between $1 and $20. While Forex4you waives deposit fees, it does assess a fee for withdrawals. Third-party payment processor costs may also apply.
The low minimum deposit allows traders flexible account management.
Forex4you charges a fee for withdrawals.
Summary
Forex4you is a global broker with a distinct focus in Asia, where it has held several seminars. One of the most significant assets at this broker is the excellent educational content for new traders, which ranks among the most in-depth among free ones available at any broker or other source. The research tools offer traders another competitive advantage, with sources from FXStreet, DowJones, Trading Central and Autochartist. Traders may choose between the MT4 trading platform and the proprietary Forex4you trading platform. The generous bonuses add appeal, and the in-house-developed Share4you copy trading system attracted over 1,000 signal providers. Forex4you maintains a trustworthy trading environment and is excellent at attracting clients, with more than 2,200,000 accounts opened since it became operational. Yes, Forex4you is a legit broker with over thirteen years of experience. The Financial Services Commission (FSC) of the British Virgin Islands (BVI) is the regulator of Forex4you. No, Forex4you is a reliable, regulated, and trustworthy broker with a clean regulatory track record. An online application processes account registrations, and verification is mandatory. The maximum leverage available at Forex4you is 1:1000.FAQs
Is Forex4you legit?
Is Forex4you regulated?
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