- Country : British Virgin Islands
- Regulation : FSC (Virgin Islands)
- Markets : Forex and CFDs
- Broker type : market maker and ECN.
- Minimum deposit : no minimum.
- Deposit methods : transfer, card, Skril, Webmoney, Neteller
- Minimum lot : 0.01
- Spread : Pro from 0 pips; 0.5 and 2 in Classic; 1 and 2 in Cent; for EURUSD.
- Commission : from 8 to 10 USD per lot.
- Customer service : chat, phone, email, in Spanish.
- Platform : MetaTrader 4
What is Forex4you?
Forex4you is a British Virgin Islands broker who has had a good reputation in forex circles since 2007.
Forex4you is one of the main brokers in Southeast Asia and already in 2013 it had more than 100,000 clients in the world.
After the regulation of ESMA in Europe in 2018, it is expected that this broker will continue to grow a lot since it is not affected by the leverage or prohibition measures of bonds and promotions in Europe or the United States.
The Asian, African, Middle Eastern and Latin American markets are huge and that is where Forex4you works.
To get an idea, when the broker was created, it managed around 700 accounts. In 2017, that figure passed to more than 120,000 active clients.
On the website they notify that they do not accept clients from the United States, the European Union or Japan.
Invest in the world’s leading social trading platform
Forex4you is a forex specialist broker and obtains liquidity from companies such as LMAX , IGFX, Sucden Financial, PPF Banka, FC Stone , NOVOBANCO, ABLV Bank and OCBC Bank.
The company is audited by KPGM.
Customer service is instant with chat, email and even free phone.
On the contact page we can see what was said before, since they have telephones in: Hindu, Chinese, Russian, Malay, Vietnamese and Taliandés.
Curiously, we do not have a Spanish option, so we assume that the broker does not have a significant presence in the Latin American market.
Forex4you open account
Opening an account is easy since we only have to enter our personal information on the web and wait for the confirmation email to be sent to us.
Once we confirm we will have to proceed to verify our identity and residence. For this, the broker asks us for a copy of our identity document (passport or DNI) and residence document (invoices or bank statement).
However, what is not easy is confirmation, since the broker only accepts documents translated into English, as we recently verified.
To deposit and withdraw money can be done by transfer, card, Webmoney, Neteller and Skrill.
This broker has training aimed especially at beginner traders. It comes in the form of a video center on trading and also an electronic book.
Forex4you promotions and bonuses
This is one of the strengths of this broker, since it has no limitation on the offer of these products.
Among other promotions it usually offers:
- Trading contest with regular prizes
- 100% deposit bonus
- Luxury trip to Europe
- 50% cashback for high volume operators (until 2019 more than $ 800,000 in cashback has been distributed
The Forex4you platform is the classic Metatrader 4 which allows mobile trading on both Apple and Android.
It also has its own web and pc platform.
Like most forex brokers, there are demo accounts to see what the conditions of the operation are like before opening a real account.
Commissions and Forex4you accounts
Forex4you offers four types of account:
This account allows the operation with money table and without money table. At the money table, the spread is fixed from 2 pips, and at the table without money, variable from 1 pip.
In the first one there are no commissions, but in the NDD Cent (without table), which will be 10 USD per traded lot.
The products offered are forex, CFDs and raw materials, with a leverage of 10: 1 to 1,000: 1 depending on the product.
Forex trading has the highest leverage.
The minimum lot to be traded is 0.01.
There is no minimum deposit.
In this account we also have DD and NDD (without money table).
With the DD we will have a fixed spread from 1.5 pips without commission.
With the NDD we will have a variable spread from 0.5 pips and 8 USD per traded lot.
The products offered are the same as in the previous account, as well as the leverage and the minimum deposit, although it is recommended to deposit 100 USD
Professional Account (Forex4you ECN)
Here it is about ECN broker trading with variable spread from 0 pips and with a commission of 10 USD per traded lot.
In this account there are no CFDs, but rather forex and raw materials.
The leverage is 200: 1 and the minimum lot is 0.01.
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As in previous accounts, there is no minimum deposit required.
PAMM managed accounts
This broker offers the famous PAMM account service, in which the best traders registered as managers offer their services so that the rest can assign funds to them. PAMM managers will earn a percentage of the earnings.
Forex4you allows you to open PAMM accounts with cents to check the quality of the strategy, allowing you to trade in fractions, so that you can see how the account is going live.
We think that you should be careful with this type of account and study the matter well and the providers to choose before allocating funds in this type of trading.
This is a classic copy trading service introduced by this broker and that allows traders who use Cent and Classic accounts to earn commissions when their strategies are copied by other clients.
Commissions range from $ 2 to $ 8 per lot, and will increase as the number of followers and trading volume increases.
According to the broker, there are more than 1,000 leaders to choose from, which can be filtered by the broker’s platform, being able to search for the provider that most interests us according to the metrics we choose.
This is a fairly veteran broker of the Forex world, created in 2007 and quite popular in the world of Expert Advisors.
As for the opinions, we have something for everyone, as is usual in this sector, which we can see in forexpeacearmy , for example.
It is difficult, if not impossible, to find opinions of this broker in Spanish.
On international websites we can find something, but not too much.
For example, in Forex Factory , there is a thread in 2017 with problems between this broker and a rebate agent (cashbacks).
There are also some mentions on reddit and trade2win , but far above.
The broker would surely capture more clients if it were in a regulation of European countries, Australia or the United States.
However, forex4you has several offices in Asia, for example India or Malaysia and has a strong presence in the Asian market. The low establishment costs in those countries – compared to Europe – means that forex4you can offer good trading conditions.
Forex4you had customer service in Spanish, but stopped providing it.
As for the social trading program, it is similar to that of ZuluTrade .
On the web the broker says that more than 70% of the copied trades are winners.
What it doesn’t say is how much customers lose on losers.
For more information, visit the website .