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Bonus

$30 Welcome bonus, Up to 100% deposit bonus, 50% cashback

Min. Deposit
$0
Regulators
FSC
Leverage
1:2000
EURUSD Spread
Standard 2, STP 0,1
US Clients
No
Platforms
MT4, Forex4you Desktop, Forex4you App, Forex4you WebTrader
Founded
2007
Country
British Virgin Islands

Forex4you Review

There’s no shame in admitting that when we think of a major online Forex/CFD brand, Forex4You is not the first one that comes to mind… That said, if it actually were, there would be absolutely nothing wrong with that. You see, Forex4You is an industry veteran, it sports a global reach and it offers some outstanding services. On top of all that, it has a decent reputation as well.

The About Us page of the broker’s website paints a very impressive picture, by using just a handful of numbers to describe the operation.

The broker plays host to some 1.6 million accounts. It is probably true though that only a fraction of those are active accounts, but that still makes an impressive number.

In addition to that, the broker has thus far executed more than 873 million orders. Launched in 2007, it has been around for more than a decade now, and the services it offers are available in 8 different languages.

In 2013, the broker launched Share4You, which is considered to be the first proper social trading service and as such, quite a revolutionary accomplishment at the time…

In 2016, the brokerage was further upgraded through the addition of a new liquidity aggregator and the overhauling of the order execution technology.

As mentioned above, the brokerage has managed to uphold a more than decent reputation among traders over the years. Given the age of the broker, this is no small accomplishment. Of course, this does not mean that there is nothing but positive trader feedback out there, but rather that the overwhelming majority of the feedback is indeed good.

The corporate entity behind the Forex4You brand is E-Global Trade and Finance Group Inc, based in the British Virgin Islands. The exact address is First Floor, Mandar House, Johnson’s Ghut, P.O. Box 3257, Road Town, Tortola, British Virgin Islands.

While the regulatory reputation of the jurisdiction is not particularly impressive, the broker is nonetheless regulated by the local FSC. Its license number is SIBA/L/12/1027. In addition to that, the financial statements released by the company are regularly audited by an independent, specialized 3rd party.

What exactly does this regulation mean in terms of service availability though? Forex4You obviously does not serve clients from the US and Japan. Since it is not regulated in any shape or form in the EU either, the broker’s services are not available in the EEA.

Why would a rank-and-file trader want to join this broker, knowing all the above?

In addition to being reputable, the broker can in fact make some of its clients quite profitable too.

According to the official website, in 2017, Forex4You registered over 122,000 active trading accounts, paying out more than $800k in client cash-back. Partners’ profits totaled more than $4.8 million.

The broker is – beyond the shadow of a doubt – an innovator, and as such, it is always at the cutting edge of the industry. It is competent and its reach – despite its restrictive regulatory status – is a truly global one. It has offices in several countries all over the world, including Thailand and Vietnam. Apparently, the operator maintains employees in Europe too.

Honesty and transparency are some of the core values of the brokerage, and that means that their support staff is efficient and trader-friendly as well.

Forex4you MT4 Screenshot

Account Types

The broker offers no fewer than 5 real money accounts, none of which feature any minimum deposit requirements at all. While this is certainly a refreshing take, it has to be pointed out that more or less substantial deposits will have to be made, depending on the account type one opts for.

The most basic real money account is the Cent one, which supports USD and EUR as base currencies, and which is the most accessible for newcomers to the trading game.

The execution speed on this account type is 1.15 seconds. The trading conditions are obviously not the best the broker has to offer. The spreads are fixed and they start from 1.5 pips.

No commissions are charged and hedging is allowed.

The Classic Account offers quicker execution, and largely similar trading conditions, with the difference that the fixed spreads start from 2 pips on this one.

Like the Cent account, this account type offers access to the bonus program of the broker too.

Those looking for lower spreads will probably opt for the Cent NDD Account. This account option features floating spreads, starting from as little as 0.1 pips. In turn though, it charges commissions of 10 cents per traded lot.

The Classic NDD Account ups the stakes a little bit, featuring rather similar trading conditions for those not interested in the Cent scene. These trading conditions translate to variable spreads from 0.1 pips, and commissions of $8 per lot.

At the top of the account-type ladder, the Pro STP Account reigns supreme. Featuring the best market execution the broker has to offer, the Pro STP account offers spreads from 0 pips. The maximum available leverage on this account type is 1:200. The commission is 10 base currency per lot. Unlike the above detailed accounts, the Pro STP one does not feature access to the bonus scheme of the broker.

PAMM accounts are also available.

Promotions

Not being tied by EU regulation, the broker is apparently free to offer monetary rewards to its traders for the trading volumes they log and the deposits they make. Such a reward is the 50% cash back the broker touts, through which hundreds of thousands of dollars find their way back to traders.

There’s also a 100% deposit bonus as well as periodic Trading Hero Contests.

Trading Platforms

The broker offers a decent selection of trading platforms, spearheaded – at least as far as we are concerned – by MT4. Other than that, the broker also offers its own version of a WebTrader, its own desktop trader as well as a mobile trading app.

MT4 hardly needs to be introduced to anyone who has ever had any online trading dealings before. The platform – which is nothing short of a fully customizable trading environment – is the best in the world, charting-, analysis-, as well as features-wise. EAs are obviously among the most attractive features of MT4.

The other trading platforms feature Forex4You’s proprietary technology, which – while it is not MT4 – is nothing to sneeze at either. Both the web- and the desktop traders feature user-friendly interfaces and a surprising number of useful trading tools.

Deposits/Withdrawals 

The broker supports the usual combination of electronic payment systems and bank cards. Neteller, Skrill and WebMoney are all in the lineup, as are MasterCard and VISA. All deposit/withdrawal methods support USD as well as EUR.

Through bank cards, the minimum deposit is obviously 1 base currency unit. Through Neteller, this minimum is 2 USD. Only the bank card options and WebMoney feature deposit fees.

Support

The handiest way to contact Forex4You support is through the Live Chat feature. Other available support channels are the ticket system in the trader room, email ([email protected]) and phone support in several languages (English number is +44 207 193 9932).

Conclusion

Forex4You is a decent trading destination, no matter how we turn it around. It offers a good account-type selection, good trading platforms and reasonable trading conditions. While the regulatory status of the broker could be more solid, its healthy reputation makes up for this shortcoming.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.


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