Many companies tried their luck with the Forex market but not all of them can enable a functioning environment for clients, and therefore one has to be careful when choosing the right broker. This Forex4You review shows that a company does not have to be big to be successful.
Forex4Yoou was established within the E-Global Trade & Finance Group, Inc. in 2007. It is based in the Virgin Islands and represents one of the best choices for retail traders. This company is very small but still continues with successful conduct and treats retail traders with the same care, regardless of their trading size. Brokers’ reliability is often connected to their regulation policy. Quality brokers are usually backed up by excellent regulators. Forex4You also got a strong license which is internationally recognized, namely the Asian Financial Securities Commission (FSC). This authority is in line with international laws and bylaws. For you as a Forex4You trader, this would mean that you could count on the law if something should go wrong.
Trading Platforms with Forex4You
The major platform displayed by Forex4You is the dominant Meta Trader 4. This platform is a part of almost every broker company, and it is hard to imagine Forex trading these days without this super invention. The platform’s popularity derives from the many convenient features it offers. With many manual and automated options, the MT4 has stayed number one for years now. One of the most distinguished features is the Forex robot or Expert Adviser service. This means that an expert set the parameters based on algorithmic and mathematic calculations to direct your trades automatically. The service is called signal trading. When this option is activated, the robot places trades, buys and sells currencies without your interference. Of course, it takes a lot of courage to let a machine run your investments, but if the robot is good, it can be worth the extra money. Another version of MetaTrader is out in the market, and Forex4You is in the testing phase of the new MT5 version. For now, the MT5 is only available for the Demo (Cent) account. The Forex4You mobile app is also part of the package. Download the app for free to your Android, iPhone and iOS devices.Mobile trading surpassed desktop trading given that it is easier to gain access over the phone due to obvious reasons. The mobile platform is the same (or almost the same) as the desktop version. Many people got used to mobile trading and enjoy the luxury and opportunity to access their accounts anytime anywhere.
Being aware of the different possibilities and experience levels of traders, Forex4You offers four different accounts to meet the demands of different financial categories of their clients. Forex4You is one of the rare Forex companies which does not offer a Demo account. Instead, they offer the Cent account. It is also designed for beginners, just like the Demo account and has an educational purpose. The minimum deposit varies from $1 to $10, so you are not required to make a big investment to start trading.
- The Classic account is suitable and widely-used by experienced traders who do not need the extra treatment offered to Pro account users.
- The Pro account is indeed for people who like to invest large sums of money and who know how to get their money back. This account is mostly used by large volume traders.
- Percentage Allocation Money Management. This account is custom-made for managers who want to manage their investors successfully.
Spreads differ depending on your account type. An important detail to know is that Forex4You maybe does not charge a commission, but it places an additional spread to the quoted price. The spread can be as low as 2 pips for Dealing Desk accounts (for major pairs). The minimum spread for Non-Dealing-Desk accounts starts with a 0.75 pip difference.
The Forex4You offers generous bonuses as well, like the 25% Welcome Bonus. The bonuses can vary from 5% to 25%, and the percentage depends on several factors, like traders’ activity, experience, trading volume, turnover on their account, etc. As you can see from this Forex4You review, the broker does not offer standard no deposit bonuses or friend referral promotions, but it has many other offers and options that can help you earn extra money.
Deposits and Withdrawals with Forex4You
There are no fees imposed on deposits. The same does not apply to withdrawals. Forex4You charges commissions (sometimes fixed and sometimes a percentage) and the amount depends on the payment method. For example, wire transfers include a €20 fee (sometimes more). Credit card withdrawals include a fixed fee plus the corresponding percentage. Fees for eWallet payment methods are significantly lower, and traders prefer these methods anyways. Money transfers can take 2-6 days, except for eWallet payments (instant transfer).
The multilingual customer support is really efficient. If you contact them via live chat or phone, you can expect to get an answer in one minute (on average). This means that their response policy is more than efficient in contrast to other broker companies. If you send an e-mail, average waiting time is 21 hours. Hindi, Mandarin, Malayn and Cantonese are the working languages of the customer support (besides English) given that the clients are mostly Asian. Forex4You might not sound like a usual broker company and has several different operational strategies, but that does not mean that the company is behind other brokers. This is a very small broker company and to maintain their services they have to include one or the other fee. In return, traders are treated with more commitment.
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