- Name : Forex4You
- Website : forex4you.com
- Established : 2007
- Regulation : FSC
- Country : British Virgin Islands
U.S. Clients Allowed :
NoDue to strict US regulation many brokers aren't able to accept traders with US citizenship.
See our list of recommended brokers that do accept US traders.
Forex4You ReviewForex4You Review
Forex4You, established in 2007, is a brand of E-Global Trade & Finance Group, Inc. (the Company). The Company is registered in the British Virgin Islands in accordance with the Companies Act and International Business Companies Act. Forex4You is authorized and regulated by the FSC under the Securities and Investment Business Act.
There are three trading accounts at Forex4You.
The Cent account is for beginners who have little experience in Forex trading. There is no minimum deposit requirement, although $1 is recommended, and spreads are as low as 0.7 pips depending on the execution type chosen. Traders have a choice of market or instant execution and leverage is available up to 1000. The Forex4You bonus program is available for those opening this account.
The Classic and Class NDD (No Dealing Desk) accounts are for regular traders looking for a steady profit. At least $100 is recommended to open this account and the minimum lot size is 0.01.As with the Cent account traders has a choice of market or instant execution and leverage is available up to 1000. The Forex4You bonus program is available for those opening this account as well.
The Professional STP account is for advanced traders. It offers variable spreads, scalping and STP and does not allow requotes. $100 is recommended to fund this account and only Forex and commodities can be traded here. Leverage is up to 200 and only market execution is available.
Quotes and Spreads
Swap accounts for those following Sharia laws is available with the Cent account only and not from the Classic and Professional accounts.
All three accounts can be funded with USD or EUR. Hedging and scalping are allowed as are all EA's (robots).They all provide news and forecasts from Dow Jones (UK), analyses and signals from Trading Central (US) and use the MetaTrader4 platform.
The demo account uses the MetaTrader4 platform which can be downloaded easily to both the desktop and mobile devices. The demo account offers live market trading, full functionality with no money needed and no risk trading.
A demo account can be opened only with the Cent account.
There is a rather informative chart that compares all the accounts and the data involved in trading the major currencies and commodities.
Forex4You offers two different PAMM (“Percentage Allocation Money Management”) accounts, one for traders and one for investors. They both bring investors and traders together so that investors can use traders’ expertise and traders can provide a forex managed account service to investors.
PAMM Accounts Ratings
Benefits for the investor PAMM include the ability to earn from operations in the Forex market without any direct action. Investors entrust their funds to an already successful trader and have the opportunity to diversify their investments and reduce investment risk by selecting more than one trader/trading approach for their money.
With the trader PAMM, traders can increase the total amount of capital they can trade with reduced requirements for leverage and reduced trading risk. They can also attract an unlimited number of investors and investments.
Both PAMM accounts provide income automatically every week.
Forex4You offers graphical analysis which is a method of technical analysis in which the trader studies or analyses the price charts in order to identify chart patterns. These chart patterns are indicative of future price movement of an asset and constitute an important tool of technical analysis.
There are two main methods of graphical analysis:
Manual graphical analysis involves the trader poring through charts in order to identify the patterns that will act as a guide on what trade position to take.
Automated graphical analysis involves the use of automated software that can be attached to the charts as plug-ins and this software identify the chart patterns and display their names on the charts. The trader can then take action based on the chart pattern identified by the software.
Other patterns include Trend lines which shows the price movements driven by buying and selling pressure, Consolidation patterns which are chart patterns that indicate periods when the trend of the asset is neither bullish nor bearish, Continuation patterns which are chart patterns that appear as periods of a stall in price movement after a strong trend, and whose appearance indicates that the trend is not going to reverse but rather will continue and Reversal patterns which are chart patterns that indicate periods at which the pre-existing trend ends and the trend reverses in the opposite direction. Reversal patterns can be revealed by candlesticks, in which case, these patterns are known as candlestick reversal patterns.
And of course, there are support and resistance levels that are built on the basis of chart pivots.
At the time of this review, Forex4You was offering a bonus of between 5% and 25% on all deposits. Only two such deposits can be awarded the bonus; the third does not qualify.
Deposits are made to Forex4You account via credit cards, wire transfers, Neteller, Skrill, WebMoney and FasaPay. Bank wires take up to 2 days to settle; all other methods are instant.
Withdrawals can be actualized using the same payment methods. Withdrawals are executed within 2.5 hours with online pay programs and up to several days with all other methods.
Clients can reach a representative at Forex4You via telephone with a toll free UK number, by email and via Chat 24/5.
Forex4You has become quite popular with retail traders because of its commitment in providing quality service to each individual trader regardless of their trading volume. It is also one of the few Forex brokers who have cents trading accounts which ideally suit newbie traders with a small trading budget.
- Choice of Accounts
- Demo Account
- Scant Description of Trading Platforms
- Few Bonuses or Promotions
- Trades on Forex, CFDs and Commodities
Review info: Forex4You
Review Date: 2016-08-15
Rating : 3.5
Reviewed By : Sara Patterson (Google+)