Forex4you is an established forex broker offering the MT4 platform, as well as additional tools including copy-trading signals, an economic calendar, and market news. This Forex4you review dives into the broker’s offering, covering everything from spreads to opening times. Find out if Forex4you is the right choice for you.
E-Global Trade & Finance Group, Inc. (Forex4you) was established in 2007. The broker is registered in the British Virgin Islands but has been expanding globally since 2009, with offices in India, Thailand, and Vietnam. The company is regulated by the British Virgin Islands Financial Services Commission (BVI FSC).
With 13 years of experience, Forex4you has earned multiple industry awards with over 2 million trading accounts opened. In 2013, the company launched its social trading service, Share4you, and in 2016 the company launched its own liquidity aggregator, MarketPlace.
The broker offers a proprietary fully-featured web terminal, as well as a downloadable desktop app version. The platform comes with full trading control with slippage function, equity stop-loss, and full login transparency with tick charts. Price analysis features are also available with multiple timeframes from one minute, as well as custom charting tools.
The downloadable MT4 platform is the most popular professional trading software, offering one-click trading functionality, automation scripts, advisors, and dozens of technical analysis tools. There’s also a financial news feed with updates from Dow Jones, a full set of orders, and a trading history feed.
Forex4you offers over 150 tradable instruments, consisting of 50 currency pairs, commodities including gold and crude oil, over 15 major indices including the FTSE 100 and 50+ company stocks. Our review was disappointed to see that trading in cryptocurrencies isn’t available, however.
Spreads are fixed from 2.0 pips in the Classic and Cent accounts. In the Pro STP account, live spreads for major pairs such as EUR/USD average around 0.1 pips.
Commission-free trading is offered in the Cent and Classic accounts, but fees are charged at $8 per lot in the Pro STP account and 10 cents per lot in the Cent NDD account. Swaps are also applied automatically during rollover periods, which are tripled from Wednesday to Thursday.
Leverage limits at Forex4you vary depending on the equity of the trading account. The maximum leverage available is 1:1000 for accounts up to $10,000 and 1:100 for accounts of $250,000 and over.
The Forex4you proprietary platform is also available as a mobile app, which works with iOS and Android phones. The app offers a simple trading interface, with account management features, advanced charting tools, customized trading preferences, and an economic calendar.
The MT4 platform is also delivered as a mobile app, offering advanced functionality including 30 technical indicators, 3 types of charts, and 9-time frames. There’s also a news feed and real-time quotes of financial instruments.
Both apps are available for download from the App Store or Google Play.
Forex4you offers funding via Neteller, Skrill, WebMoney, and bank cards. All deposit and withdrawal methods are processed instantly, apart from bank card withdrawals, which take 1–6 working days.
Deposits are fee-free but withdrawals range from 0.8% to 2% for e-payment systems, whilst bank cards cost 2.5 + 2.5% (EUR or USD). Minimum deposits and withdrawal limits start from $1.
A free demo account is offered for traders who want to test drive the platforms, and compare the different execution modes and test strategies, all within real market conditions. Only virtual money is used, meaning you can place simulated trades without risking real capital.
Forex4you offers promotions, including a monthly contest, with opportunities to win up to $400. There is also a 100% deposit bonus as well as a 50% cashback program. These are subject to certain trading requirements so make sure to check these in the terms and conditions.
E-Global Trade & Finance Group, Inc. is authorized and licensed by the British Virgin Islands Financial Services Commission (BVI FSC).
The BVI is a British Overseas Territory and therefore operates offshore supervision of financial services companies. Typically, it’s not compulsory for brokers under this jurisdiction to segregate client funds. Nonetheless, Forex4you does claim to hold client funds in a segregated account and also claims to undertake annual audits by a Big Four accounting firm.
The company is available to clients worldwide, from Kenya to Indonesia.
The most notable feature on offer is the Share4you social copy-trading tool, which allows users to automatically replicate the activity of experienced traders. The broker also offers forex analysis via Trading Central and FX Street.
In addition, there is some educational content on offer, including regular forex seminars and the Trading School, with dozens of lessons for beginners and advanced traders. There’s also a suite of video tutorials with desktop and mobile trading tips, plus regular market news and an economic calendar.
Forex4you offers 4 account types: Cent, Classic, Cent NDD, and Pro STP. The minimum deposit across all accounts is $0 and the minimum trade volume is 0.01 lots. All accounts get access to Share4you and hedging capabilities. Note that trading all asset classes is only possible in the Pro STP account.
- Cent – Instant execution (1.29 seconds), 1000 maximum lot size, fixed spreads from 2 pips, no commission, 1-month history storage
- Classic – Instant execution (0.88 seconds), 200 maximum lot size, fixed spreads from 2 pips, no commission, 3 months history storage
- Cent NDD – Market execution (0.81 seconds), 1000 maximum lot size, floating spreads from 0.1 pips, $0.10 per lot commission, 1-month history storage
- Pro STP – Market execution (0.59 seconds), 500 maximum lot size, floating spreads from 0.1 pips, $8 per lot commission, unlimited history storage
Note that swap-free accounts are not available at Forex4you.
There are benefits of trading with Forex4you, including:
- $0 minimum deposit
- Cent and standard lots
- Floating spreads from 0.1 pips
- Commission-free trading available
- Straightforward online application
There are also drawbacks when trading with Forex4you:
- Offshore regulator
- Cryptocurrencies not offered
- US, UK, and EEA not accepted
- Not as many instruments as other brokers
The FX market opening times at Forex4you are from 00:00 on Monday to 23:00 on Friday. The trading terminal time is Central European Time (CET). You can find specific market hours by clicking on the instrument details within your trading platform.
Forex4you offers 24/7 support in 8 languages, including English, Thai, Malay, and Mandarin. From the UK, the number is +44 207 193 9932, otherwise, a list of international toll-free numbers is available on the website. Alternatively, you could email customer support at [email protected] or get in touch via live chat.
The MetaTrader 4 platform is a secure and trusted software, complying with high-level security requirements. This includes encryption protocols and two-factor authentication. Forex4you is not transparent around security in its proprietary platform.
Forex4you offers a decent range of services and four accounts for instant and market execution, with both fixed and floating spreads. The accounts are also beginner-friendly, with a $0 minimum deposit while supporting hedging and scalping techniques. Traders can also choose between the popular MT4 platform or the broker’s proprietary solution.
Forex4you accepts traders from Thailand, the United Kingdom, South Africa, Singapore, Hong Kong, India, Norway, United Arab Emirates, Saudi Arabia, Kuwait, Qatar, and most other countries.
Traders can not use Forex4you from the United States, Japan, Canada, Australia, Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden.
Frequently Asked Questions
Is Forex4you a scam?
Forex4you is a registered company authorized by the BVI FSC. Despite its offshore location, we didn’t find any red flags that would suggest a scam, but traders should thoroughly research the broker and check out online reviews if they are unsure.
How do I register with Forex4you?
You will need to complete the online application form and then confirm your identity by submitting your ID and proof of address. Once you have completed the verification process, you will be able to sign in using your web login details.
What leverage is available at Forex4you?
Leverage at Forex4you depends on your account balance but is available up to a maximum of 1:1000.
Does Forex4you offer signals?
Forex4you offers the Share4you service, where leaders provide trading signals to followers who want to copy their trades.
Does Forex4you accept clients from Malaysia?
Yes, Forex4you accepts clients from Malaysia, Indonesia, and other countries in Asia, Africa, and South America. The service is not available to residents in the USA, Japan, Canada, Australia, and the European Economic Area.
|Forex4you offers retail trading on a choice of top trading platforms.|
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