Best Forex Brokers:Forex4You Review
Forex4You is a Forex brokerage headquartered in London and registered in the British Virgin Islands, with satellite offices in Mumbai, Moscow and other major cities throughout the world. Though Forex4You offers only the standard MetaTrader4 platform, it is the company’s commitment to each individual trader that sets it apart. As one of the only brokers that offers cent accounts, Forex4You ensures that traders on all budgets can have a chance to trade Forex.
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We tested the ins and outs of Forex4You during our Forex4You review and recorded our findings below.
General Information
Founded in: 2007
Headquarters: London
Maximum leverage: 1:500
Minimum deposit: None
Minimum lot size: 0.01
Languages available: English, Croatian, Chinese, German, Spanish, French, Italian, Russian, Indonesian
Trading Platform
As a company whose mission is to serve traders with unparalleled quality service and offerings, it’s no surprise that the company offers one of the most familiar and respected platforms on the internet, the MetaTrader4 platform. Specifically, Forex4You offers the service’s MultiTerminal, which enables traders to manage up to 128 trading accounts simultaneously. Traders with all types of accounts are able to enjoy this user-friendly platform. Inside the platform, traders can enjoy trading dozens of currencies including both major currencies and exotic ones such as the Swedish and Danish Krone, South African Rand, Singapore Dollar and Mexican Peso.
Successful order execution
We tested Forex4You’s MT4 platform and found it to work well, but we were extremely fascinated by the way the platform informed us about orders that were requoted. Of over ten trades executed trades, only one was requoted, and we were unable to catch the occurrence with a screen shot, or to recreate it because the company has so few requotes.
Features
Although Forex4You doesn’t service traders in the United States or the United Kingdom, it does offer interesting services and features for all other traders worldwide. Our favorite features included the option for cent accounts and the ability to choose between dealing desk and no dealing desk executions. We also found the company’s trading room to be especially useful and well-designed. The user interface is clean and uncluttered, and traders can accomplish nearly everything there including finding technical analysis from Trading Central, withdraw and deposit funds, and participate in Forex trading contests on a weekly, monthly or quarterly basis. Traders can also choose to link their account to their Facebook account, to immediately share their trades and accomplishments with their other friends.
Forex4You offers spreads as low as 0.3 pips and over 100 financial instruments that are available for trading within its trading platform. In a routine update of our Forex4You review we noticed that the brokerage is now offering a free Forex ebook for all new clients, which can be a very excellent tool for new traders and experienced traders looking for some new ideas or a refresher course on Forex basics. Forex4you accepts money via WMZ, wire transfer, Moneybookers, Liberty Reserve and several bank cards.
General Information
Founded in: 2007
Headquarters: London
Maximum leverage: 1:500
Minimum deposit: None
Minimum lot size: 0.01
Languages available: English, Croatian, Chinese, German, Spanish, French, Italian, Russian, Indonesian
Trading Platform
As a company whose mission is to serve traders with unparalleled quality service and offerings, it’s no surprise that the company offers one of the most familiar and respected platforms on the internet, the MetaTrader4 platform. Specifically, Forex4You offers the service’s MultiTerminal, which enables traders to manage up to 128 trading accounts simultaneously. Traders with all types of accounts are able to enjoy this user-friendly platform. Inside the platform, traders can enjoy trading dozens of currencies including both major currencies and exotic ones such as the Swedish and Danish Krone, South African Rand, Singapore Dollar and Mexican Peso.
Successful order execution
We tested Forex4You’s MT4 platform and found it to work well, but we were extremely fascinated by the way the platform informed us about orders that were requoted. Of over ten trades executed trades, only one was requoted, and we were unable to catch the occurrence with a screen shot, or to recreate it because the company has so few requotes.
Features
Although Forex4You doesn’t service traders in the United States or the United Kingdom, it does offer interesting services and features for all other traders worldwide. Our favorite features included the option for cent accounts and the ability to choose between dealing desk and no dealing desk executions. We also found the company’s trading room to be especially useful and well-designed. The user interface is clean and uncluttered, and traders can accomplish nearly everything there including finding technical analysis from Trading Central, withdraw and deposit funds, and participate in Forex trading contests on a weekly, monthly or quarterly basis. Traders can also choose to link their account to their Facebook account, to immediately share their trades and accomplishments with their other friends.
Forex4You offers spreads as low as 0.3 pips and over 100 financial instruments that are available for trading within its trading platform. In a routine update of our Forex4You review we noticed that the brokerage is now offering a free Forex ebook for all new clients, which can be a very excellent tool for new traders and experienced traders looking for some new ideas or a refresher course on Forex basics. Forex4you accepts money via WMZ, wire transfer, Moneybookers, Liberty Reserve and several bank cards.
Customer Service
Traders can contact Forex4You from 00:00:01 GMT+2 Monday to 23:00:00 GMT+2 Friday via chat, email and phone. During our Forex4You review we tested each of these support methods. Though it took nearly 21 hours for us to get a response to our email, we received chat and phone responses in under 1 minute on multiple occasions. The customer service team was very helpful, offering polite, direct responses.
Chat with Forex4You
Email from Forex4You
Ease of Use
When it comes to ease of use, it becomes clear how this company chose its name. Though the MetaTrader4 platform speaks for itself, the company’s own website is not only manageable, but surprisingly pleasurable to use. Registration can be completed in only 3 steps, and from there traders can follow a standard procedure to download the trading platform. One thing that we noticed during our Forex4You review is that the brokerage makes an effort to explain leverage to traders during the registration process, an advantage for new traders who aren’t quite sure what leverage to choose.
Clear explanations of how to choose the right leverage
Once logged in, traders can enjoy a beautiful Traders Room which offers all services in one easy-to-navigate place. Those who enjoy technical trading can take advantage of Trading Central, a respected analysis firm that serves traders from a myriad of brokerages, including Forex.com.
Another fantastic service that we noticed is that when requotes do occur, on occasion, Forex4You will announce the requote and ask whether the trader still wants to complete the trade.
Traders can contact Forex4You from 00:00:01 GMT+2 Monday to 23:00:00 GMT+2 Friday via chat, email and phone. During our Forex4You review we tested each of these support methods. Though it took nearly 21 hours for us to get a response to our email, we received chat and phone responses in under 1 minute on multiple occasions. The customer service team was very helpful, offering polite, direct responses.
Chat with Forex4You
Email from Forex4You
Ease of Use
When it comes to ease of use, it becomes clear how this company chose its name. Though the MetaTrader4 platform speaks for itself, the company’s own website is not only manageable, but surprisingly pleasurable to use. Registration can be completed in only 3 steps, and from there traders can follow a standard procedure to download the trading platform. One thing that we noticed during our Forex4You review is that the brokerage makes an effort to explain leverage to traders during the registration process, an advantage for new traders who aren’t quite sure what leverage to choose.
Clear explanations of how to choose the right leverage
Once logged in, traders can enjoy a beautiful Traders Room which offers all services in one easy-to-navigate place. Those who enjoy technical trading can take advantage of Trading Central, a respected analysis firm that serves traders from a myriad of brokerages, including Forex.com.
Another fantastic service that we noticed is that when requotes do occur, on occasion, Forex4You will announce the requote and ask whether the trader still wants to complete the trade.
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Final Thoughts
Forex4You may not offer all of the bells and whistles that more-established brokers offer, but there’s no doubt that it offers wonderful services for new traders. Anyone who is familiar with the MetaTrader4 platform will not only appreciate all of the benefits of this platform (including over 20 languages and EA availabilities), as well as the uncomplicated website design that makes tangential actions enjoyable.
Forex4You may not offer all of the bells and whistles that more-established brokers offer, but there’s no doubt that it offers wonderful services for new traders. Anyone who is familiar with the MetaTrader4 platform will not only appreciate all of the benefits of this platform (including over 20 languages and EA availabilities), as well as the uncomplicated website design that makes tangential actions enjoyable.
