Forex4you Video Review
Investor Protection & Regulations
“Forex4you provides investor protection via continuous audit of the broker’s records, robust funds security via account segregation, internal risk control mechanisms and capital adequacy.
The Forex4you brand has been owned and operated by E-Global Trade and Finance Ltd from inception till today. The company is presently based in the British Virgin Islands (BVI) and is authorized as a Forex and CFD broker by the BVI Financial Services Commission (FSC) with the license
SIBA/L/12/1027. Regulation is therefore one of the steps implemented for investor protection.
Additional investor protection comes from periodic audits of the company’s accounts and processes by renowned auditors KPMG, as well as insurance from the Willis Group Holdings PLC.
Traders’ funds segregation is yet another measure of investor protection applied by Forex4you. Though there isn’t much information about what banks these funds, it is believed that these funds are held in a variety of banks, all separate from the banks that hold the company’s operational funds.
Forex4you has taken investor protection a further step forward by increasing its
capital adequacy ratio, just to ensure that the company always has enough cash reserves to pay out withdrawal requests, no matter how large they may be. Tradable Products
“Forex4you offers the opportunity to trade more than 150 assets, distributed across several asset classes such as Currencies, Indices, Commodities, Stocks, and Cryptocurrencies.”
Here is a list of the trading instruments on the Forex4you platforms:
Number of Instruments
“Several account types can be found on Forex4you. This reflects the desire of the company to allow traders with varying financial capacity get a taste of the forex market. Demo accounts are provided and they are free and unlimited, allowing traders to learn and practice without undue pressure. ”
Five account types are available on Forex4you. Each account reflects trade conditions that fit different types of traders, from beginners to professionals. Accounts can be maintained in six currencies: AUD, USD, GBP, EUR, NZD and SGD. The minimum opening balance is $100 and there are no limits to open positions or pending orders.
The following are the types of accounts listed on Forex4you:
Cent Account: The Cent Account comes with a leverage of 1:10 o 1:1000 and a $0 minimum deposit. Maximum contract size is 1 lot, which for this account is equivaent to $1000.
The minimum trade volume is 0.01 lots, and this account can be used for the Share4you program.
Classic account: The Classic Account is the next level in terms of account step-up. The account has the same features as the Cent Account, with the exception of having 1 lot as equivalent to $100,000. Execution time is 1.18 seconds, which is slightly slower than that of the Cent Account.
Cent NDD Account: Next comes the Cent Non-Dealing Desk Account or Cent NDD account. Excution time is 0.73 seconds, which is alot faster than the Cent or Classic accounts. Commissions are paid for trades: $10 per Standard Lot. 1 Lot is equivalent to $1000 contract size. Spreads are floating and start from 0.1 pips. This account is also available for the Share4you program.
Classic NDD Account: The Classic NDD Account has an even faster execution time of 0.59 seconds. The value of 1 lot is $100,000,and commissions are charged at $8 per Lot. Minimum trade volume is as from 0.01 lots, with floating spreads of 0.1 pips.
Pro STP: The Pro STP account is the account for the professionals, which comes with ECN-style conditions. Execution speeds are fastest with this account: 0.37 seconds is how long it takes to execute an order. The value of 1 lot is $100,000 and maximum leverage here is pegged at 1:200. Commissions are charged at $10 per lot, and the spreads are floating; starting from 0 pips. This account cannot be used with the Share4you program.
Users also get a free and unlimited demo account, which permits the testing of strategies and can be used to learn all about how to trade on Forex4you. It does not expire.
To open an account, there is an “Open Account” button found on the homepage of the website as well as on the top-right corner of every webpage.
A simple online form appears and asks for the following information after the appropriate account type has been chosen by the trader:
Phone number, full name and country of origin.
More personal details such as residential address and email.
Net worth and funds available for trading, as well as source of funds.
Trading experience and then Terms and conditions
The account is created and the user is asked to verify identity and residential address. This can be done by uploading the required documentation, meaning proof of identity and address, to the website or to send them via email to the sales team.
Also sent to the trader is a link to download the various platform types available on Forex4you. You can also download and install your preferred platform directly from the website.
This snapshot shows the download link on the Forex4you website for the
Forex4you proprietary desktop client.
Once the 73.5MB installer package has been downloaded, you can click “Run” the .exe file to unpack and install it. It requires 128-bit Windows 8 and above to work on a PC. Once the market is open, the software will install and become available for trading.
After unpacking and installing the software, you are shown a screen with which to scan for accounts or choose an appropriate server. For demo accounts, choose the account type, leverage, deposit amount and fill in personal details. Agree with the terms and conditions and then click next.
You have options to choose a new demo account, or enter your live account details. If you fill the form below, the new demo account is created and you are automatically logged on to the trading platform.
Forex4you does not provide its services to residents of Iran, Iraq, North Korea, Pakistan and Libya.
Deposit & Withdrawals Options
“Forex4you presents a number of deposit/withdrawal options that can be used by clients all over the world. There is a deposit/withdrawal method for every trader, no matter the location, onForex4you.”
Forex4you operates a number of deposit and withdrawal options for its traders. All deposits and withdrawals must be done using personalized accounts and payment systems, as third party payments are prohibited. Accounts can be domiciled in US Dollars or Euros.
Here are the acceptable payment options on Forex4you:
Credit/Debit Card: Cards issued by VISA and MasterCard are the only cards permitted for use on Forex4you. Only amounts that are equivalent to what was deposited from a card can be withdrawn to the same card. Transactions are instantly processed. You can deposit as low as $1 and as high as $10,000 using card methods.
E-payment methods: The payment option listed as e-payment methods include Neteller, Webmoney and Skrill. Skrill and Neteller allow for use of other lesser e-payment methods that are country-specific and also allow for third-party fund uploads using credit cards. Neteller has a funding limit of $50,000, while Skrill and Webmoney have no funding limits.
Online banking methods are country-specific on Forex4you. CIMB Bank, Verata Bank, BCA are just few of the online banking methods that have been created for Indonesian clients. Transactions are instant and have a limit of 50million IDR.
There have not been any cases or reports of funds lost in transit, missing or unaccounted.
Web & Desktop Trading Platforms
“The MT4and MT5 platforms are provided by Forex4you as a WebTrader, mobile apps and a desktop application that can be downloaded from the website.”
On Forex4you, traders have the opportunity to trade with the MT4 (web and desktop versions) as well as the proprietary platform from Forex4you,
The MT4is the flagship retail trading platform, and is offered by Forex4you to its teeming clients. It is possible to trade forex and CFDs on various asset categories. Forex4you provides the MT4 platform as a WebTrader, desktop application for Windows PC and Mac OS. The mobile version is also available.
Asset selection on the Forex4you is done by clicking the Ctrl + U buttons on the keyboard, or bygoingn to File 🡪 Symbols. The asset categories are displayed as shown below.
Click on any of the asset categories to show the assets listed in that category. Assets already added will indicate a yellow colour, while those not added will show a grey logo. Click on the asset not added, and then click on the Show button on the right of the pop-up box. This will display the asset for trading under the Market Watch window.
The assets are displayed in the Market Watch window. Right click on your favourite pair to open a new order, open a new chart, view the depth of market function, or view the asset spread.
Use Ctrl + B to view the depth of market for the asset you have selected, or you can right click the asset, and click on the Depth of Market tab.
From the terminal window, you can view the latest market news from Dow Jones newswires by clicking the News tab. After clicking the News tab, right click on your selected new title and click on View to see full details for the selected news title.
Also from the Terminal window, view the MT4 Code Base, which displays selected indicators and EAs recently added to the MT4 Marketplace. Right-click on the selected Code and click on View to get a display of the code strategy and pricing on the MT4 marketplace.
Choose indicators and tools as before, by clicking on Insert🡪Indicators, and clicking the selected indicator class in the drop-down menu.
Choose from an assortment of tools as found on the MT4: channels, Gann tools, Fibonacci-based tools, line tool, etc.
The Forex4you webtrader is a web-based platform, designed by the in-house software team of Forex4you to provide a unique trading interface for its clients.
Login is achieved using a unique link from the website of Forex4you. This link opens in a new window as a JAVA-based interface which requires a pre-registered username and password for access.
The software is a complete solution which features the following:
Interactive chart for price visualization using candlestick, line and bar charts.
Summary of open and closed orders, as well as pending orders.
Order window on the top right corner of the interface.
Various tools and indicators, as well as time periods for charts. There is also a tick chart which displays all price ticks from Forex4you’s liquidity providers.
This software also has a desktop version for both Windows and Mac computers.
Mobile Trading Platforms
“The mobile version of the MT4 platform is provided by Forex4you, as well as a proprietary mobile application. Simply enter your phone number to get the link with which to download the authentic versions of the proprietary mobile app from Forex4you at the Google Play and App Stores.”
The MT4 app is compatible with their corresponding desktop and WebTrader accounts. The apps are designed for monitoring the markets, balances, charts and for trading on the go.
The proprietary mobile app comes with the following features:
Create market orders as well as pending orders, and set a stop loss and take profit targets.
User-friendly interface with easy navigation.
Financial news is provided on a real-time basis.
Easy switching from one account to another: a favourite feature of money managers who have to trade multiple accounts.
Get access to detailed reports and trading account statements.
“Forex4you allows traders to copy other more experienced traders, and also allows experienced traders sell their signals using the proprietary Share4you platform.”
Share4you is the proprietary social trading/copy trade platform from Forex4you. It is operated as a separate entity, complete with its own platform and community blog.
Here are some of Share4you’s features:
Leader reward calculator is available, which allows a Leader to work out earnings based on number of followers and number of traded lots.
Up to $8 in revenue can be collected by leaders, with up to 50% cashback.
Free Autochartist plug-in for Leaders.
Share4you is available in English and Russian.
Seamless methodology to follow traders.
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’.
Walt Disney Company
Wal-Mart Stores Inc
United Technologies Corp
Travelers Cos Inc
Merck & Co Inc
*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.
“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.
firstname.lastname@example.org 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: email@example.com and firstname.lastname@example.org. 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.
“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.
“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.
“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.
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.
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.
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