Forex4You Review

Established in 2007, Forex4You is the brand name of a British Virgin Islands (BVI) holding company called E-Global Trade & Finance Group, Inc. The company specializes in providing online forex trading services for retail traders from all around the world. Despite being a relatively small operation in the forex world, Forex4You is immensely popular among many retail traders due to its commitment in providing quality service to each individual trader regardless of their trading volume.

In fact, they are one of the very few forex brokers who have cents trading accounts which are ideally suited for beginner traders with a small trading budget.

Trading Platforms

Currently, Forex4You only have one standard trading platform which is the MetaTrader 4 (MT4), the mainstay of the online forex trading platform. Although the MetaTrader 5 is also available for download at the website, it is available only for demo accounts and testing. Nevertheless, with a platform which is as robust as the MT4 platform, there really isn’t any need for traders to rely on any other type of forex trading platform. Some of the features which MT 4 users get to enjoy include:

• Advanced Charting Package
• Automated Scripts
• Market Alerts
• Trade Alarms
• Trailing Stops
• Wide Array Of Technical Indicators

Account Types

Understanding that the trading community comprises of a diverse group of traders with differing levels of trading experiences, Forex4You have provided their traders with 4 different types of trading accounts.

• Cent Accounts

The cents accounts are designed for new traders who want to try out the forex market but are worried about the risk. With just $1 to $10, cents accounts holders can start trading and test out their trading strategies with minimal risks.

• Classic Accounts

For traders who have gained some trading experiences and can spare a few hundred dollars, they can opt for the Classic accounts.

• PAMM Accounts

PAMM (Percentage Allocation Money Management) accounts are geared towards money managers with their own list of investors.

• Pro Accounts

For professional traders who want to trade in larger volume and want the best spreads, they can opt for Pro accounts.

Commission & Spreads

Forex4You doesn’t charge any commission for their services but they impose a slight spread on top of the prices which traders get from the market quotes. The spread payable for normal trading account starts from 2 pips for the popular majors such as the EUR/USD. For classic NDD (Non Dealing Desk) accounts, spreads starts from 0.75 pips.

Customer Support

Customer support at Forex4You is available 24/5. Traders can contact the support team through the usual means such as Live Chat, email or the telephone. The response time through live chat or the telephone is quite fast with an average response time of 1 minute. In addition, support is available in several languages such as Malay, Mandarin, Cantonese and Hindi. Email response time is longer though with an average response time of 21 hours.

Funding Options

For the convenience of their traders, Forex4You offer them several choices to fund or withdrawal their funds. Currently the following methods are supported by Forex4You:

• Bank Wire
• Credit/Debit Card
• Neteller
• NetPay
• Skrill MoneyBookers
• WebMoney

Another good thing about Forex4You is the provision to withdraw fund through a Payoneer MasterCard. With this option, the withdrawal time is normally less than 24 hours.

Pros

• Multi Language Support
• Multiple choices of Trading account
• Reasonably Low Spreads
• Reliable and Transparent Broker
• Response Customer Support
• Support for Payoneer MasterCard
• Well Equipped Educational Center

Cons

• Occasional requotes
• Only One type of Trading Platform offered

Conclusion

Although Forex4You offer traders everything under the sun like most more established brokers, it cannot be denied that the quality of their services is outstanding. Regardless of the size of your trading volume, they really do make an effort to make you feel that you are special to them. In addition, their cents accounts really make it easy for beginner traders to take the plunge.