YouTradeFX, which has been in operation since 2008 and headquartered in London, UK, is a web financier and speculation organization where dealers can put resources into CFD’s in the foreign trade, product, stocks, and files. They have put up workplaces in a few different areas such as Russia, Portugal, and Bahrain. For money related interests, YouTradeFX was sold to SunbirdFX on 2014.
YouTradeFX is one of a handful of web brokers that are authorized and controlled by trusted regulating authorities. This means that its actions are overseen and regulated by professional bodies that are globally recognized and accepted. Youtrade FX is governed by the following bodies just to mention but a few;
- Australian securities and investments commission (ASIC)
- Financial Services Authority in the UK (FSA)
- Financial Services Commission (FSC) in Mauritius
Features of Youtrade
Youtrade deals in accounts where the investors can trade in stocks across the world using an established automated system. The accounts are variant on the amount the trader is willing to invest. The lowest price being $ 100 for the mini accounts which are for beginning trade. The mini account offers a 0.01 lots trading options which reduce the capital outlay. This, however, reduces the risk of account blow outs in case of large swings in the market. The highest amount exceeds $10,000 using the VIP or Premium accounts. YouTraderFX supports a variety of payment options including Pay, Webmoney, CashU which are but a few.
Meta Trader 4
This is a platform that was previously offered by YoutraderFX predecessors under different labels. It is a well- known trading platform with robust graphical and analytical potential. Its innovative automated trading frameworks and strong security offer reliable and high performance for suitable mobile and desktop trades. It allows the trader to deal at their convenience conveniently.
Meta Trader 4 offers a variety of languages which is beneficial since it increases its effectiveness. This allows it to operate worldwide and across different lingual blockades which would prove impossible otherwise.
Meta Trader 4 offers all the types of orders providing a wholesome and flexible trading services. Traders can, therefore, choose from market orders, trailing stop or pending and stop orders according to their needs.
In addition to the MT4, YouTradeFX also supports other platforms like Sirix Web broker which is tailored for the convenience of tablet traders. On Sirix traders can readily access data from their ios android tablets and also carry out trade conveniently.
Another of the trading platforms is Mirror Trader; it is a convenient trading tool that keeps one up to date as well as offer assistance in carrying out the analytical workload for the operator. If any forex robot were to be crowned, Mirror Trader would be it. It provides wholesome knowledge of the trade market; these also include the charts and oscillation of the trades that were previously done by those in the market. This knowledge well managed could be of great benefit to the trader.
Types of accounts
YouTradeFX offers five types of accounts ranging from the basic account to the VIP account. These have a minimum investment amount of 500 dollars to 100,000 dollars which range from basic to VIP accounts respectively. YouTradeFX offers a leverage of up to 400.Below are the accounts in more details:
YouTradeFX offers this account to a starting trader to aid in the better understanding of Forex trade. It offers a broad range of material and tools to ease the burden of trading. Experienced and professional experts are always available to assist in case of need. Apart from that, it has answered a lot of commonly asked questions in its detail oriented FAQ pages.
YouTradeFX offers this account for that advanced trader or sophisticated. This account is regarded as a significant achievement aimed at adding value to your account as an investment asset. With this account, you get reasonable pricing, up to date trading tools/resources and you stay updated with all relevant market developments. However, you may never get the worthiness of this account before you have fully understood the basics of forex trade.
This account offers better analytical knowledge of the market which equips the client better while making it easier to make trade decisions. The account offers better pricing, and a private professional is assigned to every account bearer. The professional provides insights on investment optional while giving administrative assistance. To top this, the tools offered for this account are also those enjoyed by the prestige account bearers.
This account is designed to cater for a large investor. With this account, you get detailed analytical knowledge on the holder’s trade performance. Short notification messages are sent to you phone among other features.
Deposits and withdrawal options
Automatic withdraw system
YoutraderFX has developed an automatic withdraw system equipped with modern technology. Not only is this withdrawal method safe, but also very fast and very efficient. This system offers the following crucial services just by a click of a button; making a withdrawal request in the account, view the state of your withdrawal, cancellation of the transaction and email notification on any status developments.
Credit card deposits
While depositing to a currency based account using other currency apart from the US Dollar, it’s required that the client accepts to fluctuations in the transferred account. These fluctuations are brought about by exchange rates and credit card company charges which may bring the total amount deposited to a lower sum than the initially deposited. These fluctuations must be consented to by the client. Any withdrawal from the client’s account can only be refunded to the client’s bank account can only be a single account. This measure prevents money laundering per Anti Money Laundering laws.
YouTradeFX offers bonuses to its clients, and the client is free to withdraw any bonus gained about the governing terms and conditions, which states that one can only withdraw the bonuses after executing a required number of lots.
Pros of YouTradeFX
- Offers bonuses and allows clients to withdraw about the governing terms and conditions.
- Have a variety of accounts- YouTradeFX offers some different account that covers that experienced person to that person who has just gotten into the trade. This means that no one is left out and everyone can be part of it.
- The platforms offer streamlined interfaces which are easy to use.
- The variety of trading options offered allows the client’s convenience
- They offer no interest on margin
- The support is closed for a day in a week which would disrupt or an inconvenience for the clientele.
YouTradeFX is a Forex trading site that has strived to make forex trade a comfortable venue to venture in. It is however faced with some shortcomings such as not offering interest on margin and some others. However, it still has a lot of things that it has done right that is very crucial in this type of trade. Though YouTradeFX has various disadvantages, it is clear that the advantages overweigh the disadvantages and it is recommended for both new and experienced traders.