Forex4you Review 2019

Regulated By:FSC

Foundation Year:2007

Headquarters:First Floor, Mandar House, Johnson's Ghut, P.O. Box 3257, Road Town, Tortola, British Virgin Islands

Min Deposit:$1

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  • Share4you community blog.

Commissions & Spreads

“Forex4you offer low spreads and commissions when compared to other brokers.”

Below are the ranges of typical spreads for some of the assets traded with the ‘standard account’.

SYMBOL SPREAD STOCKS SPREAD
DAY NIGHT TITLE SPREAD
EURUSD 2 2 Citigroup 3
GBPUSD 3 3 Walt Disney Company 4
USDCHF 3 3 Wal-Mart Stores Inc 3
USDJPY 2 2 United Technologies Corp 3
USDCAD 3 3 Travelers Cos Inc 4
AUDUSD 3 3 PFIZER INC 3
NZDUSD 4 4 Microsoft Corp 3
EURAUD 10 15 Merck & Co Inc 3
EURCHF 3 9 3M Company 9
EURGBP 3 6 McDonald’s Corporation 4
EURSGD 20 40 COMMODITIES
GBPSGD 30 50 Silver 5
NZDSGD 30 50 Gold 100

*This list is taken from the Frex4you website and is correct at time of writing.

Bonus & Promotions

“Being an international, offshore FX broker, Forex4you is not bound by the restrictions on bonuses and promos as is the case with brokers based in Europe and the UK. Several promotions and bonuses are available.”

Here is a list of active promos that are currently listed on the Forex4you website. These are periodic promos and are not found all the time.

There is a contest known as the Trading Heroes trading contest. This pays out $400 every 2 weeks to the top traders by performance on the Forex4you platform, and is a reward for profitable trading.

From now until June 30, 2019, all new traders and existing ones will be provided the equivalent of 20 grams of gold into their accounts for a deposit of $5000.

There is a zero fee deposit bonus, where all traders from Vietnam and Thailand do not need to pay bank charges for depositing into their accounts. This is covered by the broker.

Strictly for partners and affiliates, there is a reward program that gives away luxury trips around Europe to the top 12 performing partners.

A deposit bonus of between 5% and 100% is given to all new traders. There is no limit to the bonus amount that can be received.

There is also the chance to get a 50% cashback on trades, up to $10 per lot on all EUR/USD trades. This is valid only for those who did not take a deposit bonus. There is no time limit on this and it is valid for non-partners. Cashback covers spreads and commissions.

Customer Support

“Forex4you has various means of providing customer support, and these are available on a 24/5 basis. Reach the customer support desk using live chat, country-specific phone numbers, email and the online calling app. Support is available in several languages.”

It is possible to reach the customer services desk on Forex4you for English, Thai and Russian on a 24-hour basis, 7 days a week. Languages supported include Russian, Hindi, Malay, English, Mandarin, Cantonese, Vietnamese and Thai. The following support channels are available:

  • Live Chat: This is available using various buttons on every page of the website. It takes less than 10 seconds to get a response from the customer support staff, one of whom is known as V Tee.
  • Email:info@forex4you.com is just one of several emails that can be used to initiate email contact with the customer support team. This is the general inquiries email address. Marketing and partnership issues can be addressed using the following emails: marketing@forex4you.com and partners@forex4you.com.
  • Phone Number: +44 207 193 9932
  • Online call via web app.
  • Online ticket submission in the Trader Room.
  • Social Media: The following social media channels are available: Facebook.com/forex4you & Instagram.com/forex4you_share4you.

Forex4you has a responsive customer support team that replies emails in a few hours. The support personnel are courteous, professional and exhibit good knowledge of trading-related subject matter.

Research

“Market news and technical analysis is provided for clients using the Analytics section on the Forex4you website.”

Trading analysis on Forex4you comes from Trading Central, a third-party service that provides analytics of the FX market as well as actionable insight on several assets. Analysis covers the six major currency pairs: EURUSD, GBPUSD, USDCHF, USDJPY, USDCAD and AUDUSD. Traders are given free access to Trading Central via the “Analytics” section of the Trader Room. Trading Central also presents a live Web TV station which can be streamed online.

Market news on Forex4you comes from the Dow Jones newswires service. This news service streams up to 200 market news releases to the clients of Forex4you either via the MT4 platform or via the Analytics section of the Trader Room.

Identify key market news before they happen using the on-site Forex4you Economic Calendar. This calendar displays details of news releases for an entire week, with a drop down menu for each news release to explain the significance of such news for the currency pair(s) to be affected.

Trader Education

“Forex4you has a very comprehensive trader education suite. Apart from webinars and seminars, Forex4you used to maintain a blog which featured illustrative articles on virtually every subject matter in forex and CFD trading. However, the blog has been discontinued and the new Education section should be introduced in the nearest future.”

Trader education is arguably one of the strongest points that Forex4you has as a FX and CFD broker. Trader education is arranged in the following manner:

Webinars: The Forex4you website features a comprehensive webinar suite. Not only is there a schedule that displays upcoming webinars, there is also a section which provides traders with access to recorded webinar sessions. You can choose to watch these webinars in English, Vietnamese and Thai.

Seminars: Operated through its various partners and country offices around the world, the in-house team of Forex4you professionals provides an in-depth look at the business of forex trading. You also get a chance to meet the faces behind the Forex4you brand. Such seminars also provide networking opportunities for traders and partners alike.

The Forex4you blog was built as a separate website and used to be the flagship product of Forex4you’s trader education suite. However, the blog has been discontinued. According to the broker, the new “Education” section will be introduced in nearest future.

Trading Experience

“Forex4you brokerage service is suitable for entry-level and intermediate-level traders. Expert traders will not find the tools they use for their kind of trading style on Forex4you”

Entry-level and intermediate traders are suited to the Forex4you offering. The MT4 and proprietary trading platforms provide charting facilities, tools and indicators for retail level trading. The Pro STP account allows intermediate traders to step up to the professional level of trading.

However, for professionals of many years standing, the offering of this account will not satisfy their requirements. Professional traders use advanced trading tools and software for high frequency trading. The trading platforms of Forex4you cannot support such algorithms. So professional traders will prefer to use advanced level platforms like Currenex or LMAX Disruptor, than use Forex4you’s MT4 or proprietary platform.

It must however be said that Forex4you specifically targets beginners and intermediate traders. There is really no attempt to provide tools or services that are suited for professionals. Forex4you has therefore positioned itself to be the offshore broker of choice for traders in the EU and UK who cannot trade under ESMA’s conditions for various reasons.

FAQ

Here are some of the “Frequently Asked Questions” about Forex4you:

Where is Forex4you based?

The Forex4you brokerage firm is based in British Virgin Islands, with regional offices in Riga, Latvia and Malaysia.

How does Forex4you make money?

Forex4you makes money by charging spreads on trades, as well as commissions that are incurred on trades from the Cent NDD, Classic NDD and Pro STP accounts.

How do I deposit in Forex4you account?

The payment options accepted are: Online bank transfers (Indonesian clients only), international bank wires, credit/debit cards (Mastercard and VISA), and e-payment methods (Neteller, Webmoney and Skrill).

What is the min. deposit for Forex4you?

The minimum deposit is $1 for Pro STP and Classic account types, and $0 for the Cent and Cent NDD account types.

What is the maximum leverage in Forex4you?

The maximum leverage is 1:1000.

How do I open an account with Forex4you?

Click on the ‘Open Account’ button located at the top of every webpage on the website, then choose from the 5 different account types listed.

Does Forex4you use MetaTrader?

Yes, an upgraded version of the MT4 which features new resources is available.

Conclusion

Forex4you is an offshore broker operating from the BVI and a network of regional offices. It also works with local partners that are able to promote the brand and organize local seminars. It is regulated by the FSC and offers investor protection in the form of clients’ account segregation, customer identification, regular auditing and increase in capital adequacy ratios.

The choice of platforms is excellent for beginners and intermediate traders, as the MT4 is the mainstay of retail trading. Expert traders will find these platforms and features a bit limiting as they are considered too elementary for professional-style high frequency trading.

To compete with the top-tier brokers, Forex4you needs to review its regulatory policies and aim to site a branch in Europe to at least get a top-tier brokerage license which will boost investor confidence. Forex4you also needs to bring back its educational blog, which was a great resource for trading education while it lasted.

Pros Cons
  • Broker has multiple account types to cater to different categories of traders
  • Segregation of traders’ funds
  • Broker has Share4you, active social trading platform
  • The Forex4you blog is no longer available for trader education
  • Forex4you desktop platform is unstable and does not work with Windows 7 and lower versions

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