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Forex4you Review 2024

By:
Plamen Stoyanov
Updated: Feb 1, 2024
Overall Rating
4
  • Trust
    3.6
  • Fees
    3.5
  • Platforms and Tools
    4.6
  • Tradable Instruments
    3.8
  • Customer Support
    4.8
  • Research
    4.3
  • Deposit and Withdrawal
    3.9
  • Account Types and Terms
    4.6
  • Education
    3.6
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    Our Take on Forex4you

    Forex4you, with over 15 years in the OTC market, serves more than 2.6 million traders globally. Established in 2007 and based in Tortola, British Virgin Islands, the broker offers a variety of account types, user-friendly platforms, and ultra-fast order execution. The trading experience is elevated by in-depth research from Trading Central and Autochartist. However, it’s notable that Forex4you has limited client protection, higher-than-average trading fees, and imposes withdrawal charges.

    Forex4you Pros and Cons

    Pros Cons
    • Fast order execution
    • Diverse account types
    • Extensive research content
    • Multiple platforms
    • 24/7 customer support
    • Above-average trading fees
    • Limited educational content

    Forex4you Highlights for 2024

    • Forex4you scored high in the Account Types, Research, Customer Support, and Platforms categories. The broker provides most of the tools traders may need to be flexible on the market and to develop their strategies.
    • The broker performed average in the Tradable Instruments and Deposit and Withdrawal categories. It offers a decent amount of CFD instruments and payment methods.
    • Forex4you was awarded below-average marks in the Trust, Fees, and Education categories. The broker is authorized overseas by a Tier-3 regulator, whereas its commissions on some instruments exceed the industry average. The education offering is good but with a relatively narrow scope.

    Who is Forex4you for?

    Beginner traders can take advantage of Forex4you’s diverse account types, easy-to-navigate platforms, and reliable customer support. Seasoned traders can benefit from its 360-degree research content and fast execution speeds.

    Thus, Forex4you’s service can accommodate sophisticated trading strategies that depend on the speed and precision of order execution. One example is scalping, where entries and exits at the proper price level can mean the difference between success and failure.

    What Sets Exness Apart?

    The broker launched its own liquidity aggregator, MarketPlace, which chooses the best quotes from a pool of liquidity providers. This feature combines quite nicely with its fast order execution speeds.

    But Forex4you’s service is not only for seasoned traders who have tweaked the parameters of their strategies to a tee. With the broker’s custom-made social platform – Share4You – rookies can copy the trades of those more successful traders on the platform.

    This is a review of a Classic Pro account opened with Forex4you, a trademark of E-Global Trade & Finance Group, Inc. We connected the test on the MetaTrader 4 (MT4) platform – its desktop and mobile app versions.

    Forex4you Main Features

    ☑️ RegulationsBVI FSC (Virgin Islands, British)
    🗺 Supported Languages
    English, Hindi, Malaysian, Thai, Indonesian, Vietnamese
    💰 ProductsCurrencies, Stocks, Crypto, Indices, Commodities
    💵 Min Deposit$0
    💹 Max Leverage1:1000 (BVI FSC)
    🖥 Trading Desk TypeDealing Desk, No dealing desk
    📊 Trading PlatformsProprietary, MT4
    💳 Deposit OptionsNeteller, Webmoney, Skrill, Visa
    💳 Withdrawal OptionsNeteller, Webmoney, Skrill, Visa
    🤴 Demo AccountYes
    🗓 Foundation Year2007
    🌎 Headquarters CountryVirgin Islands, British
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    Forex4you Full Review

    Trust

    3.6
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    Forex4you is authorized and regulated by the British Virgin Islands Financial Services Commission (FSC) of the BVI – a Tier-3 regulator. And even though the broker has very high overall transparency, the lack of certain safety policies, such as a compensation scheme, prevented it from receiving a higher score.

    Forex4you Regulations

    In our reviews, we examine the licenses and regulations of each entity operated by a broker. This allows us to compare each entity’s different levels of protection. We rank licenses by various regulatory bodies on a three-tier system, where Tier-1 licensing indicates the highest level of regulation.

    Forex4you is a trademark of E-Global Trade & Finance Group, Inc. Here is what we found out concerning the entity:

    • E-Global Trade & Finance Group, Inc. is authorized and regulated by the British Virgin Islands Financial Services Commission (BVI FSC), under licensing number SIBA/L/12/1027. BVI FSC ranks as a Tier-3 regulator on our system.
    E-Global Trade & Finance Group, Inc. licensing information on bvifsc.vg

    We have summarised the most essential aspects of E-Global Trade & Finance Group, Inc. in terms of regulation and safety in the table below:

    Entity Features E-Global Trade & Finance Group, Inc.
    Country/Region British Virgin Islands/Tortola
    Regulation BVI FSC
    Tier 3
    Segregated Funds Yes
    Negative Balance Protection Yes*
    Compensation Scheme No
    Max. Leverage 1:1000

    * There could be discrepancies during times of extreme market volatility

    A broker is mandated to comply with the financial directives of the country where its regulator is based. This naturally leads to regional discrepancies in legal requirements. That is why traders need to be aware of the specific protections they are entitled to under their broker’s regulation.

    We have listed some of the most important safety features traders need to look out for in a broker:

    • Segregation of client funds. In order to decrease the risk of accounting errors, most brokers are required to keep their clients’ funds in separate bank accounts from the ones they use for their corporate capital. Forex4you complies with this requirement.
    • Negative balance protection. This policy essentially removes the risk of a trader’s losses exceeding his or her balance. Forex4you operates on an account protection basis via its relatively low stop-out levels (between 10-20%). This means that when the account’s margin drops to the stop-out level, all running positions are automatically closed to prevent further losses. However, there could be discrepancies during times of extreme market volatility.
    • Compensation scheme. A compensation scheme protects the client against the company’s liabilities. Some brokers that are not mandated to have such a policy may decide, at their own discretion, to obtain civil liabilities insurance instead. The BVI FSC does not require Forex4you to have a compensation scheme, and it has not issued civil liabilities insurance either.
    • Maximum leverage. Leverage is one of the main factors impacting a trader’s performance. It multiplies the profits generated and losses incurred, which is why it is frequently referred to as a “double-edged sword.” Some regulators cap the maximum leverage (usually between 1:30 and 1:100) brokers are allowed to extend to retail traders in order to limit their maximum market exposure. With a maximum leverage of up to 1:2000, Forex4you’s clients have to decide on their own how much of it to use.

    Is Forex4you Safe to Trade With?

    Despite the lack of a compensation scheme, Forex4You adheres to most of the bigger safety requirements in the industry, which is why I found it to be overall safe.

    Having operated for 16 years, Forex4you has already established itself as a trustworthy derivatives broker that gives its clients the tools they need to succeed. By applying rigid risk management and using Forex4you’s tight stop-out levels, traders can effectively decrease their trading risk.

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, how big the company is, and how transparent it is in terms of readily available information.

    The first impression one gets after visiting forex4you.com is that the broker lists the average order execution times per account type, which is quite rare. This signifies high-grade transparency and accountability. These results are achieved because of Forex4you’s liquidity aggregator, MarketPlace, which matches the optimal bid and ask prices from the broker’s pool of liquidity providers.

    In summary, our findings indicate that Forex4you can be regarded as having a good level of trust and stability due to the following factors:

    • Forex4you’s clients’ funds are kept in segregated accounts.
    • The company has established its reputation as a trustworthy broker in the past 16 years.
    • It has very narrow stop-out levels, which mitigate the risk of an account’s losses exceeding its balance. The risk is not completely removed, though.

    Fees

    3.5
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    Forex4you scored below average in the Fees category. The broker’s several account types afford commission-free trading with floating spreads or fixed commissions with higher spreads. On balance, the broker’s trading fees exceed the industry average preventing it from earning a higher mark.

    The broker’s Cent and Classic account types – the ones that afford commission-free trading – have quite high spreads. Accordingly, the Cent Pro and Classic Pro account types have much lower spreads, but their fixed costs decrease their overall competitiveness. With regard to non-trading fees, Forex4you charges dormant accounts an inactivity fee of $10 after a period of 12 months or more. This is a pretty standard rate.

    Forex4you Trading Fees

    Forex4you’s Spreads

    We tested the spreads of Forex4you during the most actively traded times – during the London open at 8 a.m. GMT and just after the U.S. open at 2.45 p.m. GMT. The test was conducted on the 15 September 2022.

    Instrument Live Spread AM Live Spread PM
    EURUSD 0.2 pips 0.1 pips
    GBPJPY 1.3 pips 0.3 pips
    Gold (XAUUSD) 12 pips 14 pips
    Crude Oil 0.02 pips 0.02 pips
    Apple NA 0.01 point
    Tesla NA 0.05 points
    Dow Jones 30 2.9 basis points 0.3 basis points
    Germany 40 0.7 basis points 0.7 basis points

    As shown in the table above, the spreads on a Classic Pro account are very low. This applies to instruments from all asset classes. One peculiar thing to notice is the difference between the morning and afternoon spreads on the Dow Jones 30. Spreads on some assets tend to rise when liquidity drops (before the U.S. open in this case), which is why traders need to monitor the underlying traded volume.

    Forex4you’s Swap Rates

    A swap fee is a trader’s cost for holding an open position overnight because of changing interest rates. Swap long refers to the charge deductible or credit receivable for holding a buy position open overnight. In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight.

    The values listed below are for one full contract (100,000 units) of the base currency.

    Instrument Swap Long Swap Short
    EURUSD Charge of $11.75 Credit of $0.43
    GBPJPY Charge of $1.66 Charge of $3.57

    Forex4you charges widely varied swaps owing to heightened market volatility. Traders wanting to avoid such unpredictable costs should consider setting up a swap-free account.

    Forex4you’s Commissions

    Forex4you’s Cent Pro account has a commission of $8 per lot, while the Classic Pro account has a commission of 10 cents per lot. But while 1 lot on a Classic Pro account equals 100,000 units, 1 lot on a Cent Pro is set at 1000 units (micro lot). Consequently, trading 100,000 units on a Cent Pro account will entail a commission of $10.

    This means that the commission per traded unit on a Cent Pro account is actually higher than on a Classic Pro account, contrary to what may seem at first glance. It is also worth pointing out that the commission on a Classic Pro account is already higher than the industry average. The same applies to the fixed spreads on the Cent and Classic account types.

    Forex4you’s Non-Trading Fees

    An inactivity fee is charged when no trades have been executed on an account for a period exceeding 12 months. The company deducts from the balance of a dormant account (including Share4you accounts) a monthly fee of 10 USD/ 10 EUR/ 75 RUB or the equivalent of a different currency, depending on the underlying base currency. After a period of 24 months, the inactivity fee increases to 20 USD/ 20 EUR/ 1500 RUB. The fee will be charged until activity resumes or the account balance drops to zero.

    Are Forex4you’s Fees Competitive?

    The competitiveness of Forex4You’s fees depends mainly on the frequency and quantity of trading. Arguably, the broker’s most favorable trading fees are on the Classic Pro account type. Despite its considerably lower spreads, however, the account type has above-average commissions compared to the broader industry.

    Platforms and Tools

    4.6
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    Forex4you scored very high in the Platforms category. Traders can choose between the broker’s proprietary platform – Forex4You WebTrader – and the globally renowned MetaTrader4 (MT4) and MetaTrader5 (MT5). All are generally easy to use and sophisticated enough to afford probing examinations of price action behavior. The international entity of the broker also supports the seamless cTrader platform, which has even greater usability.

    With regard to MT4, the platform consists of multiple indicators, drawing and charting tools, and other secondary features, which have helped it become a benchmark among retail traders over the years. The platform’s practical design makes it very easy to use and navigate, and even newbies can get used to it relatively quickly.

    The mobile app lacks the general ease of use of MT4’s desktop version because it runs on smaller-screened devices. Smartphones generally do not afford an in-depth insight into price action behavior. Instead, the app’s primary function is to allow traders to adjust their underlying positions on the go.

    Traders who do not wish to analyze the market on their own can make use of MT4’s in-built Expert Advisors (EA) feature for automated trading. Alternatively, they can sign up for Forex4You’s social trading option, also known as copy trading, called Share4you. It allows less experienced traders to learn from the strategies of seasoned traders and copy their performance.

    Forex4you’s Desktop MT4 Platform

    The desktop version of Forex4you’s MT4 platform

    General Ease of Use

    The platform layout follows a very familiar pattern, enhancing its overall ease of use. The watch list of selected instruments and a list of available trading indicators are placed on the left-hand side of the screen. The banner at the top contains additional trading and non-trading options, while information about the performance of the account can be found at the bottom. The middle section includes the charts.

    Almost all important features can be accessed with just a few clicks, which is essential in a fast-paced environment like the market.

    Charts

    The chart is the most important component of every platform. The way in which price action behavior is represented on the chart is instrumental for every trading decision. An effective chart needs to incorporate a sufficient number of supporting tools that the trader can use to study and understand the underlying market sentiment.

    Here is a list of the available tools on MT4’s charts:

    • Trading indicators. The chart consists of 30 different trading indicators that can be used to determine the direction of a trend, trading volume, and, most importantly, key support and resistance levels. Some of the more popular instruments include the MACD, Bollinger Bands, and the Ichimoku Cloud indicator.
    • Drawing tools. There are 21 drawing tools, including lines, channels, and Fibonacci retracement levels. These objects can be drawn over the price action to study the underlying market sentiment and outline potential breakout or breakdown levels within an established trend.
    • Timeframes. The chart has 9 different timeframes ranging from 1 minute to 1 month. This variety affords a multifaceted overview of price action behavior. Larger timeframes are usually used to discern the broader market sentiment. In comparison, smaller timeframes provide a more detailed overview of recent price developments, which can be used to determine potential entry and exit levels.
    • Chart types. Price action can be represented in one of three ways – as a line, using bars or candlesticks.

    Orders

    Here is a breakdown of the available order types on MT4:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop loss orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    Forex4you’s MT4 Mobile App

    Even though the app feels more rugged compared to MT4’s desktop version owing to the above-mentioned problem, it has its own benefits. The app allows traders to stay connected to the market at all times, which is indispensable when urgent corrections to open positions have to be made. Moreover, the app has an excellent feed section screening the latest news that drives the market. Traders can always stay informed, which is imperative in the ever-changing market environment.

    General Ease of Use

    The app has several main components, including a charts window where price action can be observed; a quotes window representing a watch list of selected instruments; and the trade window where orders can be placed. There is also the news feed section.

    A lack of space underpins the problem inherent to most trading apps. Having to cramp so much information on a low-resolution device inevitably diminishes the overall ease of use. But in so far as the app’s primary function is to afford quick access to a trader’s account, MT4’s app successfully fulfills this requirement.

    The watch list (on the left), the chart section (in the middle), and the news feed (on the right)

    Charts

    Here is a list of the chart tools available on the app:

    • Trading indicators. The app consists of 30 trading indicators, the same as MT4’s desktop version. These include trend-based, range-based, volume-based, and other types of indicators.
    • Drawing tools. There are 21 drawing tools, such as trend lines and channels. These can be applied in order to make sense of price action behavior and determine potential trend-reversal or trend-continuation zones.
    • Timeframes. Once again, there are 9 different timeframes, ranging from 1 minute to 1 month. This variety is important since trading apps are mostly used to monitor market developments.
    • Chart types. MT4’s app has three chart settings. Price action can be represented as a line, using bars and candlesticks.

    Orders

    Here is a breakdown of the different order types that can be executed through the app:

    • Market orders. Market orders are used for immediate entry at the best possible price. If triggered, they guarantee volume filling, though there could be a discrepancy between the requested price and the price where the order actually gets filled.
    • Limit orders. Unlike market orders, limit orders guarantee exact price execution. However, a limit order will not be filled if the price action does not reach the pre-determined execution price.
    • Stop loss orders. They are used to support open positions by limiting the maximum loss that can be incurred if the market turns in the opposite direction. A stop-loss order is placed at a fixed price below or above the spot price. If the market does indeed turn and triggers the stop-loss, it will transform into a market order and get filled at the best possible price.

    Tradable Instruments

    3.8
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    Forex4you was awarded an average mark in the Tradable Instruments category. The broker has several account types, but only one (Classic Pro) has more than 150 instruments. There is a considerable difference in the variety of instruments from one asset class to another, which limits a trader’s possibilities.

    The broker has a reasonable amount of FX pairs and CFD shares but only a handful of commodities on all account types. Forex4you has no complex instruments such as ETFs, bonds, or options. Despite this unbalanced assortment of tradable instruments, however, there are enough of them for the successful implementation of most types of trading strategies.

    What are CFDs?

    Contracts for difference (CFDs) are derivatives used to speculate on the price of the underlying without physical delivery. For example, a long position on gold would generate a profit as the price rises or incur a loss as it falls. This is achieved without having to purchase actual bars of gold. One of the biggest advantages of trading CFDs is that traders can get in and out of the market almost instantaneously, thereby catching even minute changes in the price of the derivative.

    What Can You Trade With Forex4you?

    Here is a list of the available instruments on a Classic Pro account, broken down by asset class:

    • 40 Currency Pairs
      • Majors and Exotic
    • 6 Commodities
      • Energy and Spot Metals
    • 93 CFD Shares
      • Tech, Financial, Retail, and others.
    • 14 Indices
      • U.S., Europe, Asia
    • 18 Cryptocurrencies
      • Major and Minor

    With 93 instruments, CFD Shares are Forex4you’s most diverse type of asset. It is worth pointing out that there is a fixed 0.05% commission on shares, which is medium to high compared to the broader industry. The 40 currency pairs represent the second most common type of instrument on the platform, but this diversity is somewhat offset by the above-mentioned $8 commission, which is quite high.

    Arguably, the 14 available indices strike the best combination between variety and competitive costs because the 0.02% commission on instruments from this asset class is lower than the industry average. This means that Forex4you’s Classic Pro account type provides good overall trading conditions for traders preferring highly volatile instruments.

    Forex Commodities
    EURUSD, GBPUSD, GBPJPY, AUDCAD Gold, Crude Oil, Natural Gas, Silver
    Shares Indices
    Apple, Microsoft, Caterpillar, Tesla, Citigroup Nasdaq 100, S&P 500, FTSE 100, Germany 30, Dow Jones 30
    Cryptocurrencies
    Bitcoin, Ethereum, Litecoin, Solana, Polkadot

    Customer Support

    4.8
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    Forex4you scored very high in the Customer Support category. The broker offers 24/7 support in 11 different languages, making its service accessible to a wide range of traders. Support is available via live chat, email, and phone, which further eases communication.

    Answers to more general queries can be found in the FAQ section of the website. Alternatively, traders can call or request a call back from one of Forex4you’s customer support departments. They can also use the live chat feature. In both cases, the response time is very short, and the answers are generally well-informed.

    Forex4you’s Customer Support Test

    When we test a broker’s customer support team, we evaluate the agents’ knowledge of their own website, how long it takes them to respond to questions, and how detailed their answers are.

    We conducted our customer support test on the 15th of September via the live chat option, which can be found at the bottom-right corner of the page. Upon requesting an explanation of how Forex4You’s “Limit & stop levels” function, we were provided with a satisfactory answer fairly quickly.

    Our conversation with Forex4you’s support team

    Deposit and Withdrawal

    3.9
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    Forex4you has a reasonable amount of payment methods, which vary depending on where you are situated. And while there is no charge for deposits, withdrawals are not free. Forex4you’s withdrawal fees exceed the industry average, but payment processing times are normal.

    Forex4you Deposit Methods

    Method Currency Fee Max. Deposit Waiting Time
    Visa USD, EUR 0% 10,000 USD Instant
    Neteller USD 0% 10,000 USD Instant
    Skrill USD, EUR 0% 10,000 USD Instant
    WebMoney USD 0% 10,000 USD Instant

    Forex4you Withdrawal Methods

    Method Currency Fee Max. Withdrawal Waiting Time
    Visa USD, EUR 2.5 USD/EUR + 2.5% 2000 EUR/USD 2-6 working days
    Neteller USD, EUR 2% 2500 USD Instant
    Skrill USD, EUR 1% 10,000 USD Instant
    WebMoney USD 0.8% 10,000 USD Instant

    Except for withdrawals via debit cards, all other transactions are processed instantaneously. The servicing fee may vary depending on your chosen payment method. You can find additional information about the broker’s payment methods here.

    Account Types and Terms

    4.6
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    Forex4you earned a very high mark in the Account Types category. There are four main account types with no minimum deposit requirements. Swap-free trading is permitted, and opening an account is fairly straightforward. The only minor drawback is that only two base currencies are available, which nevertheless is not a major predicament.

    Retail traders can choose from several main account types: Classic Fixed, Cent Pro, and Classic Pro. There is also another type – Classic Standard – which is an amalgamation of the four, and you can read more about it here. Each of the four main ones can be modified into an Islamic account to accommodate swap-free trading.

    With regard to trading costs, the account types can be separated into two categories. Cent Fixed and Classic Fixed accounts have fixed spreads and no commissions, whereas Cent Pro and Classic Pro accounts have floating spreads starting from 0.1 pips and fixed commissions. When deciding which account type to choose, traders should consider several other factors, such as execution types and speed, standard contract size, and limit and stop levels.

    Forex4you’s account types

    Why is Choosing the Right Account Type Important?

    Some traders are more aggressive on the market, while others have a much more conservative approach to trading. They can have different styles, goals, and needs, so there is no uniform account type that caters to everybody. Instead, it is up to each trader to pick the one account type that best matches their aspirations and means. The right account type would naturally enhance the strong aspects of a trader’s strategy and minimize the adverse impact of its drawbacks.

    What Account Types Does Forex4you Offer?

    Account Type Cent Fixed Cent Pro Classic Fixed Classic Pro
    Execution Type Instant Market Instant Market
    Execution Speed 1.23 sec 0.80 sec 0.82 sec 0.53 sec
    Spreads From Fixed from 2.0 pips* Floating from 0.1 pips* Fixed from 2.0 pips* Floating from 0.1 pips*
    Forex Contract Size 1 lot =1000 1 lot =1000 1 lot = 100,000 1 lot = 100,000
    Commission $0 $10 cents per lot $0 $8 per lot
    Min. Deposit $0 $0 $0 $0
    Max. Leverage 1:1000 1:1000 1:1000 1:1000
    Margin Call Level 50% 50% 100% 100%
    Stop Out Level 10% 10% 20% 20%
    Limit & Stop Levels From one spread From 2 pips From one spread No limit
    Base Currency USD, EUR USD, EUR USD, EUR USD, EUR

    *On FX Majors

    The biggest advantage of Cent Fixed and Classic Fixed account types is that they offer commission-free trading and instant execution. If the requested execution price for an order has changed before the broker could fill it, the trader will be sent a requoted price which they can either accept or decline. Instant execution is suitable for precise entries and exits in and out of a position.

    However, Cent Fixed and Classic Fixed accounts have high fixed spreads and low order execution speeds. The high limit & stop levels starting from one spread represent another drawback. If a trader wishes to place a supporting stop loss order to a primary position, it cannot be opened less than 2.0 pips away from the man position. By limiting a trader’s capacity to control their market exposure, effective risk management becomes more difficult.

    Cent Pro and Classic Pro accounts have much faster order execution, especially the latter, and much lower spreads. However, their commissions exceed the industry average. Moreover, the fixed commission on a Cent Pro account per 100,000 units (amounting to $10) is higher than the $8 commission on a Classic Pro account. These two account types have market execution meaning that orders are filled at the best possible price without sending any requotes to the trader. And while the Cent Pro has limit & stop levels starting from 2.0 pips, underscoring the same problem mentioned above, the Classic Pro account type has no such constraints.

    All things considered, Forex4you’s Classic Pro account type strikes the best balance between competitive fees, fast order execution, and the possibility to control one’s market exposure.

    What is CFD Leverage?

    Leverage is the biggest determinant of a trader’s market exposure. When trading Contracts for Difference (CFDs), positions can be opened for a fraction of their value because of the leverage. Essentially, the broker lends the trader money so that the latter can open bigger-sized positions. The leverage multiplies the profits a trader generates from winning positions and losses incurred from failed trades.

    Forex4you Account Opening Process

    We have summarised the essential steps necessary to open an account with Forex4you below:

    • Step 1. Click the ‘Open Account’ button in the top-right corner of the main page. You will then be asked to provide your phone number, first and last name, email, password, and country of residence.
    • Step 2. Once you fill in these personal details, you have to confirm that you agree to the terms and conditions. The phone number you provide will be used as your username.
    • Step 3. Afterward, you will be sent a verification code as a text message. You will see a confirmation form on the website where you need to fill in that code.
    • Step 4. You will then be relocated to the Client Portal, which is where an account type can be selected. This includes choosing a base currency (EUR or USD), leverage (from 1:10 to 1:1000), and whether to have a regular or swap-free account.
    • Step 5. You will be assigned your login credentials for MT4 or MT5 automatically. Before you can fund your account, you must verify it by sending the appropriate documents.
    Account creation with Forex4you

    Why is a Demo Account Important?

    Demo accounts serve a twofold purpose. Firstly, they function as a sort of broker’s business card. Traders can use them to check out its services in a safe environment before they decide whether to fund a real account. Secondly, demo accounts provide a risk-free simulation of real market conditions, which allows traders to update their strategies regularly. Even the best strategies must be updated periodically in order to function well under the ever-changing market sentiment.

    Forex4you Supported Countries

    Forex4You’s service is unavailable for residents of the U.S., Japan, Canada, Australia, Singapore, and EEA.

    Research

    4.3
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    Forex4you scored high in the Research category. The broker incorporates many research materials from other industry leaders. Traders are treated to a dedicated news section and probing analyses by Trading Central and Autochartist. The only thing lacking is video breakdowns.

    What we found particularly useful is that all research content available on the website and the through the client portal is ostensibly trading-oriented. Emphasis is always placed on news that is most likely to impact the market, thereby being of key interest to day and intraday traders. Forex4you’s supporting materials are thus comprehensive enough to help traders make informed decisions in a fast-paced market environment.

    A news article by Forex4you

    Research Tools

    Here is an outline of Forex4You’s different types of research tools:

    • An economic calendar. Available from the website, the economic calendar outlines the main trading events each week. Traders can use it to learn more about the market consensus surrounding such top-tier market movers. More conservative traders can use the calendar to determine when the market is likely to become volatile and possibly unpredictable so that they can limit their exposure at such times.
    • Market news. The news feed is available from the “Trading signals” section in the client portal. It filters trading-oriented news on a set of instruments – EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, and the dollar index. Each article briefly outlines a trading setup supported by a chart and one or two trading indicators. There is also a news feed available from the mobile app.
    • Trading Central. Trading Central is one of the most renowned and widely used providers of trading analyses in the industry, and clients of Forex4You can access its content from their client portals. Each analysis contains a chart outlining a possible trading setup, a list of the major support and resistance levels, and the next likely direction for the market.
    • Autochartist. Autochartist is another service that provides trading signals and analyses. Its content is structured similarly to Trading Central’s materials. Forex4You’s decision to incorporate two similar services offers its clients the opportunity to read about the trading opportunities on their preferred instruments from different perspectives. Hence, they can make informed decisions.
    Featured trading idea on the client portal

    Education

    3.6
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    Forex4you scored below average in the Education category. There is a wide range of written articles, webinars, and seminars, which, however, represent only a superficial examination of basic trading concepts. There are no educational videos apart from several explaining how to use MT4 and MT5.

    Currently, there are 51 entries in the articles section on the website that cover rudimentary trading topics, such as “Five reasons to keep a trading journal” and “5 common forex trading myths that every trader needs to know”. Almost all articles are written in the format of “the top 5…” or “8 reasons why…”. These usually spark quite a lot of interest among newbie traders but rarely delve deep into the complexities of trading.

    Forex4You’s ‘Trading School’ is another interesting source of information, representing an attempt by the broker at a comprehensive trading course. It consists mostly of articles on technical analysis with varying levels of complexity. Little attention is paid to fundamental analysis or the psychology of trading.

    We found the broker’s educational content suitable for first-time traders beginning their trading careers from scratch. However, it is not ideal for more experienced traders looking to improve their knowledge as there is no examination of complex trading concepts.

    An educational article by Forex4you

    The Bottom Line

    Forex4you is a very transparent OTC derivatives broker that provides trading solutions to clients. Its award-winning service boasts more than 12.6 million trading accounts with $70 million in total client balances. One of the strongest aspects of its service is the very fast order execution speed complemented by diverse account types and trading platforms.

    This wide selection of trading solutions caters to the needs and styles of different types of traders. Forex4you’s Classic Pro account type arguably has the most competitive fees and optimal trading conditions. Traders can also enjoy excellent customer support, available 24/7 in multiple languages.

    The broker’s single entity – E-Global Trade & Finance Group, Inc. – is authorized and regulated by the regulator FSC of the BVI, which does not guarantee compliance with the strictest industry regulations. We also found Forex4you’s educational content rather superficial, not exploring complex trading topics.

    Forex4you is suitable for both beginner and advanced traders, though for different reasons. The former can take advantage of Forex4you’s educational articles, while the latter can benefit from the incorporated research content provided by industry leaders such as Trading Central and Autochartist.

    FAQ

    E-Global Trade & Finance Group, Inc. is based in the British Virgin Islands.
    The broker is licensed by a tier-3 regulator (BVI FSC) and keeps its clients’ funds in segregated accounts, though there is no compensation scheme.
    Via the spreads and commissions, it charges for order execution.
    Yes, it has a decent amount of educational articles, webinars, and seminars.
    Payments can be made using a variety of methods including local banks, debit cards, online payment systems, and e-wallets.
    There is no minimum deposit requirement.
    Withdrawals can be requested from the client portal. The same payment methods available for deposits can also be used for withdrawals.
    Most withdrawals are instantaneous. Visa withdrawals may take between 2-6 business days.
    Depending on the country you are residing in, the maximum leverage on all account types is 1:1000.
    Accounts can be opened from the main page of the website.
    MetaTrader 4 (MT4), MetaTrader 5 (MT5), and its proprietary Forex4You Web Trader platform.
    Yes.

    See Forex4you Full Information

    Headquarters CountryVirgin Islands, British
    Foundation Year2007
    RegulationsBVI FSC (Virgin Islands, British)
    Publicly TradedNo
    Number Of Employees87
    Trading Desk TypeDealing Desk, No dealing desk
    Trading PlatformsProprietary, MT4
    Restricted Countries
    United States, Japan, Canada, Australia, Singapore, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden
    Supported Languages
    English, Hindi, Malaysian, Thai, Indonesian, Vietnamese
    Min Deposit$0
    Max Leverage1:1000 (BVI FSC)
    Deposit OptionsNeteller, Webmoney, Skrill, Visa
    Withdrawal OptionsNeteller, Webmoney, Skrill, Visa
    Time to Withdrawal3
    Time to Open an Account8
    Crypto
    Bitcoin, Litecoin, Solana, Ethereum, Polkadot
    Products
    Currencies, Stocks, Crypto, Indices, Commodities
    Demo AccountYes
    OCO OrdersYes
    Offers HedgingYes
    Automated TradingYes
    API TradingNo
    Guaranteed Stop LossYes
    Guaranteed Limit OrdersYes
    Guaranteed Fills / LiquidityNo
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorNo
    Social TradingYes
    AutochartistYes
    Trading SignalsNo
    Platform Languages
    Turkish, Korean, Hebrew, English, Danish, Russian, French, Indonesian, Dutch, Portuguese, Latvian, Thai, Slovak, Polish, Czech, Arabic, Estonian, Hungarian, Bulgarian, Italian, Slovenian, Spanish, Chinese, Croatian, Lithuanian, Farsi, Japanese, Swedish, Greek, Serbian, Vietnamese, Malaysian, German, Romanian
    24 Hours SupportYes
    Support During WeekendsYes
    Live ChatYes
    Daily Market CommentaryNo
    News (Top-Tier Sources)Yes
    WebinarsYes
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeYes

    About the Author

    Plamen StoyanovBroker Analyst

    Having been a retail trader since 2013, Plamen has gained an in-depth understanding of the challenges that novice traders face today. His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen’s favourite trading instruments include FX majors and gold. He earned a Bachelor's degree in Economics and International Relations. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers.

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    Why you can trust FX Empire

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    Trading on the Forex market involves significant risks, including complete loss of funds. Trading may not be suitable for some investors and traders. Increasing your leverage also increases your risks. Please read and ensure you fully understand our Risk Disclosure.