Forex4you

Brand Forex4you begins its history at the time when most forex brokers were based in Central Europe. In 2007, when Forex4you (E-Global Trade & Finance Group Corporation) was just taking its first steps, its trading volumes left much to be desired: only $50 million, which was a disappointingly low figure even for that period. Nevertheless, due to the very good trading conditions and excellent service, the company still began to develop dynamically, to expand its field of activity, systematically taking over a really large part of the forex market. What do we see now? A staggering figure of 200 billion in annual trading volumes and about 40 offices worldwide.

Forex broker Forex4you is registered in the British Virgin Islands (BVI) and is licensed by the Financial Services Commission (FSC) under the Securities and Investments Act 2010 (SIBA). The BVI has always been one of the most popular jurisdictions for offshore forex brokers due to its uncomplicated setup, confidentiality of owners and shareholders, and, most importantly, relatively low required paid-up capital, usually in the range of $100,000.00 – $250,000.00. Forex4you broker predominantly caters to investors from European and Asian nations, particularly those in Southeast Asia. An illustration of this is the recognition they garnered with the “IAIR Southeast Asia Award 2017”. Awards are good, but what kind of accounts and spreads does this broker offer, what are the advantages? And, most importantly, could it be that Forex4you is a scam? Let’s look into this pressing question together.

 

Terms of Trading with Forex4you

Forex4you is first and foremost an MT4 trading terminal broker, offering different types of accounts for every type of trader. They currently give their traders access to more than 150 instruments, including Forex, commodities, stocks, indices, and cryptocurrencies. What sets the company apart from a number of competitors is that Forex4you has its own social trading network – Share4you (go online). It allows anyone to copy the trades of successful traders and allows profitable traders to become so-called “leaders” and share their trades with others for a generous reward. It’s a really great service that has all the necessary features for copy trading, and at the same time is very simple and intuitive.

One feature of Share4you is the client’s ability to adjust the size of copied positions and set their own notes. Most platforms limit clients to a percentage distribution of copied trades, whereas Share4you allows clients to set specific numbers limiting the size of orders. In addition, Share4you provides a full report and overview of each leader, allowing you to view and copy their successful trades.
In addition to all the reporting features, Share4you provides one feature that is often overlooked by investors but plays an important role – the ability to see all previous leader accounts. For complete information about the Share4you social trading network, visit the official website forex4you.com.

Forex4you also offers 2 affiliate programs: the “Partner” affiliate program with 3 levels of referrals and the “Markup ProSTP” affiliate program. The “Partner” affiliate program is very simple and does not offer anything unusual. The basic idea is that an affiliate receives 50% commissions from the spread of Level 1 clients, 16.7% from the spread of Level 2 clients, and 5.6% from the spread of Level 3 clients. If you have an account available, all you have to do to create a new account is click “Create Account” – your affiliate account will be ready within seconds and you can instantly access all the marketing materials in your affiliate area.

The “ProSTP Markup” affiliate program is relatively common, but not widely used because affiliates can choose their own markup, which creates a less favorable environment for the trader. Clients can log in with any login created and switch between affiliate accounts without leaving their accounts. Forex4you allows its clients to make internal transfers between their trading and commission (affiliate) accounts. Internal transfers are instant and usually take no more than a few seconds.

One interesting feature of Forex4you is the client’s ability to make external transfers in the brokerage system. Clients can transfer funds to any other client of the company without any certain restrictions. However, if the company suspects foul play, suspicious activity will be stopped and accounts will be immediately suspended and investigated. Forex4you allows traders access to 41 currency pairs, CFDs on the biggest and best-known NYSE-listed companies, CFDs on Silver and Gold, and CFDs on cash instruments such as WTI, BRENT, Indices, and Crypto. Forex4you applies swaps just like any other Forex broker – automatically at the time of rollover (when order is rolled over to the next calendar day). Swaps are tripled from Wednesday to Thursday and increase or decrease according to national interest rates. Swaps are applied to all types of trading accounts, as accounts without swaps are not available.

Forex4you has an advantage for investors – PAMM accounts – they include the ability to earn on transactions in the Forex market without any direct action. Investors entrust their funds to an already successful trader and have the opportunity to diversify their investments and reduce investment risk.
With PAMM accounts, traders can increase the total amount of capital they can trade with reduced leverage requirements and reduced trading risk. They can also attract an unlimited number of investors and investments. Both PAMM accounts automatically provide income every week. It is necessary to remember the “inactivity fee”. Recently, many brokers have decided to charge their clients a so-called “inactivity fee”, each broker has its own approach. Forex4you charges 10 euros every month for inactivity until the account balance reaches zero. The inactivity fee was introduced at the end of 2017 and is still in effect today.

Forex4you guarantees the separation of client funds by separating client funds from the company’s operating funds. According to Forex4you, clients’ funds are kept in different banks at the same time in order to reduce risks. The segregation of funds ensures investors’ safety in the unlikely event that the company becomes insolvent. Forex4you does not disclose information about its liquidity providers, but it claims to deal only with regulated financial institutions and has established several FIX API connections with several European-regulated liquidity providers. Unlike some other offshore regulators, the BVI FSC does not require that forex brokers only have regulated liquidity providers, so this information cannot be verified (The whole truth about forex).

 

Forex4you.com Platform

The process of opening an account with Forex4you is simple and surprisingly fast. To get login credentials and enter the client area, a trader must fill out a short registration form and provide his or her phone number. Admittedly, this process is quick and easy only if you live in the country that Forex4you accepts and is actually listed on the registration form. There is a statement on the broker’s website with a list of countries whose residents are not accepted, but the list is obviously incomplete, there are more countries unable to register than officially declared.

The company claims to check all documents of new traders in less than 5 hours on average if the package of documents was submitted within a week and the application comes from an individual. Checking the documentation of corporate clients usually takes more time. Full functionality, and the ability to deposit funds, becomes available as soon as the documents are successfully checked.

In the personal cabinet, traders can choose platforms (you can read more and download them on forex4you.com) and Cent, Classic, Cent NDD, or Pro STP accounts for Instant Execution and Market Execution trading. Instant Execution accounts have fixed spreads and NDD and SPT accounts have floating spreads, but what is more unusual is that Forex4you has no minimum deposit requirements for any type of account. Trading accounts can only be denominated in US dollars or euros, there are no other base currency options. All trading accounts provide similar trading conditions, except for a few differences that come from the type of execution.

Cent & Cent NDD accounts are great for novice traders who have decided to switch from demo trading to real one but are not yet ready to make a significant deposit. Cent accounts are usually used by traders to test new strategies and by experts in real market conditions. In addition to spreads, NDD accounts have a commission of $10 cents per lot. Classic & PRO STP accounts are suitable for traders with real experience and confidence in their trading style or with Expert Advisors ready to be deployed in a live environment. STP accounts have a trading commission of $8 per lot. Forex4you offers each account two different methods of order execution:

• Instant Execution. All orders are executed exactly at a specified price. No order can be opened or closed unless the trader accepts a certain price. This is the most suitable option for traders who value execution at a specific price. Traders who are not used to instant execution should keep in mind that not every EA is capable of trading with instant execution. In addition, trading during news and high market volatility can be very difficult or even impossible because there is no guarantee that the selected price level will have enough liquidity to execute the order.
• Market Execution. It guarantees the execution of an order “at any price” at the first available price, which in other words, when the broker has enough liquidity at a certain level to execute the order. It is worth noting that during times of high market volatility, orders are likely to be affected by slippage, although as long as the broker is decent, it is always possible to execute the order at a better price. Traders who prefer to fill an order at any relatively close price should always choose Market Execution.

Please note: all trading accounts have very low stop-out levels: for regular accounts the stop-out level is 10%, while for NDD/STP accounts it is 20%. The lower the stop-out level, the more money a trader can lose if proper risk management has not been implemented and trades are left unattended (Forex Trading Training).

Broker Quotes

Forex4you offers charts, a method of technical analysis where the trader can study and analyze price movements. These charts indicate the future price movement of an asset and is an important tool for technical analysis. There are two main methods of graphical analysis:

• Manual chart analysis involves the trader looking at the charts to determine the directions that will serve as a guide for selecting a trading position.
• Automatic chart analysis involves the use of automated software that can be plugged into charts as plug-ins, and this software identifies chart templates and displays their names on the charts. The trader can then already take actions based on the chart pattern created by the software.

There is also a fairly informative chart that compares all accounts and data related to the trading of major currencies and commodities.

 

Demo Account on Forex4you

Forex4you broker offers its clients a demo account, which gives traders a great opportunity to feel the real world of traders, to look at it from the inside, and to experience the functions of the platform without risking any real money. The demo account uses the MetaTrader4 (MT4) platform, which can be easily downloaded to both desktop and mobile devices. A demo account offers real market trading, full functionality with no money down, and no risk trading. A demo account can only be opened with a Cent account. Opening a demo account is relatively easy, although you have to provide a lot of personal information to do so.

 

Mobile Application

As mentioned earlier, Forex4you is an MT4 broker, but the company has also developed its own trading platform compatible with Windows and Mac. Forex4you Mobile App does not differ much from Mobile MetaTrader 4, but is visually more pleasant looking. The application is available in English, Chinese, Vietnamese, and Thai. The interface of the Forex4you MobileApp is user-friendly and at the same time has some features that are not presented in MetaTrader 4. One of the most notable features is Slippage Control – it allows traders to set a slippage limit and allows for zero slippage, but in this case, execution is not guaranteed at all times.

Equity Stop Loss is for traders who prefer to manage risk with specific numbers. Equity Stop Loss is the ideal solution, it allows you to forcibly close all trades as soon as the stock reaches a certain level. This feature is also available for MetaTrader, but only as an additional Expert Advisor. Last but not least, we should mention the liquidity pool monitoring, which displays the available amount of liquidity at prices from different liquidity providers.

Forex4you Bonuses

Forex4you quite often conducts interesting contests and promo campaigns. At the moment, the brokerage company offers three bonus programs:

• 40% Cashback Program. Participants can receive a 40% rebate on paid spreads and commissions. This offer is open to those without an active deposit credit bonus.
• 100% Deposit Bonus. You can pick your bonus level when funding your trading account. The higher the level, the more trading turnover is required. Your bonus is swiftly credited to your account as trading credit.

Current bonuses, promotions, deals, and useful services (for example, Expert Advisors, robot analytics, and VPS hosting) can be found at forex4you.com.

 

Deposit and Withdrawal

Forex4you offers several methods of depositing and withdrawing funds. Any deposits and withdrawals must be made using your own accounts, no third-party payments are allowed. Let’s find out more about deposit and withdrawal methods:

• Credit/debit card. Cards issued by VISA, Master Card, and Maestro are the only cards authorized for use at Forex4you through the SOREXPAY payment processor. By bank cards are charged with a transfer fee of 2.8% + a fixed fee of 0.5 USD.
• Alternative methods. Neteller and Webmoney (WMZ/WME) for all, and Skrill as an option for several regions. Neteller and Skrill have maximum deposit limits of $50,000 each, and on the other hand, Webmoney has no restrictions. Wallets are also available for Qiwi.
• Online banking methods. Bank deposits depend on the country at Forex4you. CIMB Bank, Verata Bank, and BCA are just some of the online banking methods that have been created for Indonesian clients. However, bank deposits are available in a very limited number of regions, mostly in Asia and a few CIS countries.

Complaints about Forex4you

Forex and financial trading are two topics that are often discussed on forums and social media platforms. While reading different opinions can be helpful, it’s important to note that negative comments often outweigh positive ones. This can lead to the impression that many services in this field are fraudulent and that it’s impossible to make real money by trading online. However, as we can see from our own experience, this is not always true.

Forex4you has to be one of the most controversial rating brokers, on a scale of 1 to 10, the broker would have an average score of 7.5 if you take into account both positive and negative reviews. Most of the negative reviews mention customer service, price manipulation, and occasionally unstable app performance. Positive trader reviews vary and mostly come from traders who tend to emphasize their extensive trading experience and have actually benefited from trades.

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Forex4you Broker Regulator

Forex4you has a weak regulatory framework, as it is regulated by only one authority – the Financial Services Commission (FSC) in the British Virgin Islands. The FSC is not a highly respected regulatory body among Forex traders, and this can be seen as a weakness in the company’s overall regulatory structure.

• Check the Forex4you license on the FSC website

User Agreement forex4you.com

The broker provides its traders with all the important documentation freely available on forex4you.com. Here you can find and read the full list of documents:

• Return Policy.
• Know Your Customer Policy.
• Complaint Policy.
• Terminology.
• Notice of Risk.
• End User License Agreement.
• Free Account Exchange Agreement.
• Customer Agreement.
• Regulations.
• Anti-Money Laundering Policy.
• Partnership Agreement.

For example, the user agreement contains important information about resolving disputes and claims. If a dispute situation is not described in the customer agreement, policy, or risk notice, the company may address the issue in accordance with its practices for resolving such situations:

The same document provides standard information about the legal relationship between the company and the client, including important details such as the fact that the client can withdraw any amount of money from his account, but the account must always have a minimum balance to avoid closure:

 

Is Forex4you a Scam?

Forex4you has been in the forex market for several years and has a good reputation. There are not many complaints about the company, and the only serious problem seems to be the lack of Islamic accounts. However, it is a reputable broker with a wide variety of trading tools. It has its own social trading platform and a multicurrency robot, which has received positive reviews.

The broker also offers a special account for beginners who want to test their skills in the trading world. While the broker may not have the most extensive list of deposit and withdrawal options, customer support can be slow at times, and there are issues with access for US and Japanese customers. These minor issues should not lead us to assume that Forex4You is a scam. Instead, you can always create a demo account to test the reliability of the platform and explore new opportunities in the market.

Conclusion

Forex4you has long been popular among retail traders due to its commitment to providing high-quality service to every trader, regardless of their trading volume. This broker also offers Cent accounts, which are ideal for beginners with a small budget. The most notable feature of Forex4you is that there are no minimum deposit requirements for any of its accounts. This means that regardless of the size of your trading volume, you will feel special with this broker. Their Cent accounts make it easy for beginners to immerse themselves in forex trading and feel comfortable. Forex4You provides traders with almost everything they need and the quality of its support services is exceptional. This makes it a great choice for those who want to start trading without the hassle of large deposits.