Forex4you is a brokerage service provider headquartered in the British Virgin Islands and is regulated by FSC Mauritius. Established in 2007, Forex4you has opened more than 2,200,000 trading accounts for its clients. The pillars of the broker are its 100% deposit bonus, copy trading system and 50% cashback program. Additionally, novice traders have access to excellent educational resources to enhance their trading knowledge and skills.
Forex4you Review – Regulations
The Financial Service Commission of the British Virgin Islands regulates the broker. The regulator facilitates Forex4you to maintain a clean record of trades and segregate clients’ funds from the company’s funds. You can find the license information on the broker’s website. Additionally, the broker provides regular updates about its performance, making it a trustworthy broker who never hesitates to go the extra mile to serve its clients. In short, Forex4you makes sure its clients get access to a secure and reliable trading environment.
Forex4you makes money by charging spreads and commissions from the traders. It provides traders access to 0.1 pips for a commission of $0.10 for each micro lot and $8 for each standard lot. On the other hand, there is no minimum deposit requirement, although additional withdrawal fees might apply. Also, there is an inactivity fee of $10; however, it is charged much later, after 12 months of dormancy. However, this is not the case with brokers who charge inactivity fees much sooner. The overall cost structure of Forex4you is very competitive.
Forex4you Review – Trading Instruments
Forex4you offers a wide range of trading instruments to trade in, such as 40 forex pairs, four commodities, 15 indices and 50+ equities, sufficient for a novice trader to start their trading journey.
Forex4you Review – Account Types
Forex4you offers four types of trading accounts to its clients. While two are commission-free, the other two are commission-based. However, they all provide a maximum leverage of 1:1000, no minimum deposit requirement and let traders choose trading conditions suitable for their trading needs.
Forex4you’s Trading Platforms
Apart from the most popular trading platform MetaTrader 4, Forex4you provides you access to its very own proprietary trading platform, available in three versions:
- Forex4you desktop
- Forex4you Webtrader
- Forex4you Mobile
Manual traders can find the Forex4you trading platform a better alternative because of its added functionality and easy-to-use interface. The best features of this trading platform are liquidity pool data and slippage control. For automated traders, MT4 would be a perfect option. Additionally, Forex4you has upgraded the below-average MT4 trading platform version with the Autochartist plugin to provide manual traders with a much more competitive and cost-effective solution, thus making MT4 a good trading platform for novice traders too.
Forex4you’s Unique Features
The best feature of Forex4you is its unique copy trading system known as “Share4you”, which allows traders to follow the strategies of more than 1000 professional traders and strategy providers. Forex4you has claimed that 70% of all their copied trades have been profitable, making it one of the most efficient copy trading solutions in the industry.
Forex4you’s Customer Support
Forex4you offers readily available customer support 24*7 in eight languages. You can reach out to them via live chat, email and phone. The FAQ section is also available that can answer most of your questions. Additionally, the customer support team is available round-the-clock in case of emergencies.
Forex4you’s Opening An Account
At Forex4you, you will see an online application form that handles new accounts. All you need to do is provide your name, email, phone number and desired password. Since Forex4you is regulated, account verification is compulsory. Thus, new traders need to submit a copy of their ID and proof of residency, which should not be older than three months.
Forex4you is a trustworthy and regulated broker with its proprietary trading platform and MetaTrader 4. Forex beginners can access quality education and copy trading services. Trading costs are competitive, and the broker is excellent at luring clients, with more than 2,200,000 trading accounts opened so far.