Forex4You was established under E-Global Trade & Finance Group, Inc. in 2007, a British Virgin Islands (BVI) registered to hold company. The company offers online forex trading services on a global level. Their ability to individualize their customer service makes them popular among online traders, with the company taking notable steps to address grievances on other platforms where their services have gotten complaints.
The company is licensed by FSC. Though they state they are regulated by the same company, for the most part, the company expects that those under their umbrella to self-regulate. There is relatively little that FSC can do when it comes to legal matters. The company, however, states that they are annually audited by KPMG and has insurance by Willis Group Holdings PLC.
To date, the company has more than 1.5 million opened accounts and about 828 million total orders executed. The leverage goes up to 1:1000 with tight spreads; offers order execution from 0.1 seconds and a 25% deposit bonus. A user gets a copy trade service, free market analytics, 150+ tradable instruments and PAMM service. Forex4You also provide cryptocurrency trading and webinars and seminars to help their clients.
The over 150 tradable instruments include Forex (50+ currency pairs), indices (15+), commodities (WTI, Gold, Brent and more), stocks (more than 50 companies) and cryptocurrencies (Litecoin, Bitcoin, Ripple, Ethereum). With just one account a person can access the various trading platforms offered. You can also access Forex4You on various devices, including the phone, tablet, and computer. The platform, like many other brokerage services, is based on Meta Trader 4.
Traders also have the opportunity to increase their income by becoming a social leader in the trading network by receiving a commission for standard each lot copied between $2, $4, $6 and $8.
There are various accounts on offer on this platform and have different execution speed, leverage and forex contract size. There is the Cent, Classic, Cent NDD, Classic NDD and Pro STP. The major difference with these accounts is the execution speed: 1.12, 1.17, 0.72, 0.48 and 0.27 seconds respectively. All accounts have leverage from 1:10 to 1:1000 apart from Pro STP that has a 1:10 to 1:200.
What makes Forex4You unique from other trading sites is that it has a minimum deposit of $0. That makes it ideal for traders starting out their trading journey and those with small budgets but still keen to make money through trading. They also come with a minimum trading volume of 0.01 lot. Only the latter three accounts have commissions of an average of 10 cents per lot.
Forex4You offers withdrawal for money 24/7 from Visa, MasterCard, FastPay, Neteller, Skrill, and WebMoney.
Le Fonti, a media company that’s an independent source of international business analysis, in 2018 deemed Forex4You the Forex Broker of the Year. The firm got a similar award South East Asia- IAIR Award in 2017 and 2015 they received the Best Quality Service in the 14th MENA Forex Expo Dubai.
Those who wish to take a different approach in investing have the change to invest in fund management. They can participate in the Forex market without having to trade. One only need have traders in the PAMM accounts manage the investments where a person received a percentage of the profit as per the stipulated offer.
Forex4You offers a free analytics tool where a person can predict a rise or fall in exchange rates before they take place. These are the Dow Jones where users can get their fix of news reports and commentaries. As for the FX Street, clients get explanations of trading events and how they affect the calendar. The Trading Central technical analysis does as it implies when it comes to the six major currency pairs that is EURUSD, USDCHF, USDCAD, AUDUSD, GBPUSD, and USDJPY. Trading Central WebTV is where users can access financial news online.
• Multiple accounts
• Multiple services including calendars, news, and analysis
• Offers to trade in fund management
• Can be used on various platforms
• Forex4You has insurance and audited by KPMG
• BVI is an offshore account can make people nervous should there be any upsets within the company
• Not FCA regulated
Overall, Forex4You has been around for a while and has trusted affiliates including KPMG and Willis Group Holdings PLC. They also have awards from recognizable organizations from various countries where they likely offer services. Forex4You also offers resources that are useful for traders who are either seasoned or starting out.
The only area of concern is that they are not a regulated brokerage firm (like tradersway) and have their count in a haven. In such a case, one can only trust their dedication to serve their customers, both former and current as they go out of their way to respond to complaints on online forums.