Overall, Forex4you Review can be summarised as a trustworthy and well-regarded entity within the online financial trading arena. They have a global presence in crucial financial hubs like Australia and Cyprus. They have a trust score of 70 out of 99.  

Forex4you Review – Analysis of Brokers’ Main Features

1. ☑️ Overview
2. ☑️ Detailed Summary
3. ☑️ Security Measures
4. ☑️ Account Types
5. ☑️ How to Open a Fore4you Account
6. ☑️ Trading Platforms and Software
7. ☑️ Fees, Spreads and Commissions
8. ☑️ Markets That Trade with Forex4you
9. ☑️ Leverage and Margin
10. ☑️ Deposits and Withdrawals
11. ☑️ Educational Resources
12. ☑️ Pros and Cons
13. ☑️ In Conclusion
14. ☑️ Frequently Asked Questions

 

Overview

The broker, founded in 2007 and based out of the British Virgin Islands, has established a foothold in the world of financial trading, with its diverse array of services designed to cater to customers from all walks of life. The broker promotes itself as a moderate-risk broker despite lacking Tier-1 or Tier-2 regulatory licenses based on its 70 out of 100 trust score. Nonetheless, possessing a Tier-3 license from the Financial Services Commission of the British Virgin Islands suggests a regulated operational structure. However, compared to its rivals, it has relatively lower trustworthiness. The broker’s appeal lies in its wide array of retail trading accounts, such as Cent Fixed, Cent Pro, Classic Fixed, Classic Pro, and Classic Standard Accounts. These cater to traders with different levels of expertise and financial capabilities. The broker’s competitive trading conditions, offering spreads as low as 0.1 pips and commission rates starting at $8, often attract traders who aim to lower their trading expenses to boost profitability. The cashback rebate program is a significant advantage of the broker, aimed at compensating active traders by enabling them to recover a portion of their trading expenses. Non-partner clients who have not opted for an active deposit bonus credit can particularly benefit from this plan as it offers them an added motivation to engage in trading activities. In addition, the platform boasts a user-friendly and uncomplicated interface that enables traders of various skill levels to navigate the markets easily.  

Detailed Summary

The broker, previously known as Markets4you, was launched in New Zealand in 2007. ETX Capital, an FCA-regulated entity, purchased the company in 2012, resulting in a substantial shift in its regulatory landscape. They now operate under the ETX Capital name, providing retail forex trading services using the MT4 platform. While the company’s New Zealand roots remain a part of its past, its present activities and laws are squarely under the FCA’s purview. Today, the broker, as part of ETX Capital, has offices in the United Kingdom, Australia, Cyprus, and the British Virgin Islands. The broker provides a variety of currency pairings CFDs on indices, commodities, and stocks and caters to novice and experienced traders.  

At a Glance

 

What is Forex4you?

Forex4you is a British Virgin Islands-based forex and CFD broker providing trading services in various financial instruments since 2007. These include currency, commodities, stocks, and indices.  

What trading accounts does Forex4you offer?

Forex4you provides a variety of account kinds, including Cent Fixed, Cent Pro, Classic Fixed, Classic Pro, and Classic Standard accounts, to meet the diverse demands and preferences of traders.  

Security Measures

This broker implements various security measures to safeguard its clients’ assets and personal data. One such measure involves utilizing segregated accounts, which create an additional layer of financial protection by separating customer cash from the firm’s operating funds. Customers can withdraw their funds at any moment, ensuring full accessibility to their resources with no restrictions imposed by brokers’ operations or activities on those monies. Additionally, they have bolstered the broker’s digital framework with SSL encryption. This advanced security measure shields important data from interception during transmission. It is crucial to prevent unauthorized access to sensitive personal and financial information that may be vulnerable to cyber threats. Moreover, they provide an additional layer of protection for trading accounts through two-factor authentication (2FA). With 2FA, users have greater account security as it requires them to validate their identities using multiple forms before gaining entry – considerably slashing the risk associated with illegitimate account utilization. They are a reliable and secure forex trading platform. This is evidenced by their authorized status under the British Virgin Islands Financial Services Commission. As well as high financial standards and frequent audits, ensuring traders’ transparency. Additionally, clients are provided with clear risk warnings and a privacy policy that outlines how their data will be gathered, utilized, and secured. Indicating their commitment to offering a trustworthy service overall.  

Does Forex4you offer negative balance protection?

Yes, Forex4you offers negative balance protection, which ensures that traders cannot lose more than their deposited cash and protects against severe market moves.  

Are client funds held in segregated accounts at Forex4you?

Yes, Forex4you keeps customer funds in segregated accounts distinct from business funds, guaranteeing that they are exclusively used for trading purposes and can be withdrawn at any moment.  

Account Types

Cent Fixed Account

The Cent Fixed account offered by this broker is suitable for novice traders and those who prefer low-risk trading. This type of account allows individuals to trade in micro-lots, thus providing an attractive option for people looking to minimize their risks when entering the market. The absence of any required minimum deposit allows inexperienced traders to gain exposure and knowledge on how trades work with lower investment amounts. Moreover, this structured pricing has clear benefits, such as offering fixed spreads starting at 2 pips without commission fees that provide transparency in costs within the forex exchange market. With an impressive maximum leverage limit set at 1:1000, it is quite generous compared to other platforms, enabling high potential returns while allowing traders ample room or leeway. Should they plan on increasing positions over time using multiple order combination techniques available online?

Classic Fixed Account

The Classic Fixed account caters to traders who desire a consistent spread. It has no minimum deposit, allowing traders to begin with capital that matches their comfort level. This account type is excellent for people who utilize trading methods unaffected by minor execution speed differences. Trading expenses are easy, with set spreads starting at 2 pips and no commission charges. The Classic Fixed account has a maximum leverage of 1:1000, allowing traders to expand their market exposure significantly.

Cent Pro Account

The Cent Pro account caters to adept traders who employ techniques such as scalping and value narrow spreads. With an outstandingly competitive trading milieu, this option furnishes rates that can descend to 0.1 pips alongside a meager cost of $0.10 per lot used in each transaction the user makes. The market execution process becomes evident on implementation, calling for at least a $0 deposit while permitting up to a 1:100 leverage ratio. Furthermore, this particularly beckons seasoned Forex users searching rapid completion period coupled with economical charges involved throughout their trades executed through this channel.

Classic Pro Account

If you are a serious trader looking for the best trading conditions, the Classic Pro account is an excellent option. This premium choice offers floating spreads starting at 0.1 pips and costs as low as $8 per lot traded, combining affordability with fast market execution that averages just 0.53 seconds. With no minimum deposit required and leverage of up to 1:1000 available, it is accessible to traders using various tactics, including automated or high-frequency trading, making it an attractive proposition overall.

Classic Standard Account

The Classic Standard account is a versatile option that integrates elements of the Classic and Pro offerings. It is ideal for traders with no charges and variable spreads starting from 0.9 pips. This type of account presents an attractive proposal, featuring zero minimum deposit requirement and leverage up to 1:1000, enabling diverse trading strategies application powerfully in different markets. Moreover, its swap-free alternative makes it suitable for complying with Sharia law principles practiced by Muslim traders, prohibiting interest-based transactions.

Demo Account

The Demo account is an indispensable resource for traders seeking to enhance their skills, a virtual platform that simulates real-life market conditions while minimizing risk. It is an excellent tool for novice and seasoned traders eager to explore the intricacies of the FX universe in practice. With 90 days, this trial account enables proactive refinement and review of individual trading approaches within reasonable limits.

Islamic Account

With compliance with the Sharia law that prohibits interest accumulation, Forex4you has introduced the Islamic Account for Muslim traders. This type of account exempts overnight holdings from swap costs following Islamic financial principles. Although it does not charge extra fees for this feature, transaction charges apply as usual. The available Cent and Classic models make trading accessible without compromising personal religious beliefs through an Islamic Account.  

What is the difference between Cent and Classic accounts at Forex4you?

Cent accounts with this broker allow for trading with smaller lot sizes and lower initial deposits, making them excellent for beginning traders. Classic accounts are best suited for more experienced traders with higher lot sizes and no minimum investment.  

Does Forex4you offer Islamic accounts?

Yes, they provide Islamic accounts that conform with Sharia law by not charging swap fees, which are available in Cent and Classic account forms.  

How To Open a Forex4you Account

✅To get started, visit the official broker website. ✅Locate and click the “Open Account” or “Register” button, which is normally found on the front page. ✅Complete the online application form by entering your name, email address, phone number, and residence address. ✅Check your email for a verification message from the broker. Click the link in the email to confirm your email address. ✅Upload any necessary identity papers for KYC (Know Your Customer) requirements. These papers should contain a government-issued ID, such as a passport or driver’s license, and evidence of address, such as a recent utility bill or bank statement. ✅After submitting your papers, wait for the broker to verify them and approve your account; remember that the timeline for this procedure may vary depending on the number of applications. ✅Once your account has been authorized, you can fund it. Choose your desired deposit method from the available options, which may include credit/debit cards, e-wallets, or bank transfers, and then follow the steps to finish the deposit. ✅With your funded account, you can now start trading. If you are new to trading, try opening a demo account to familiarize yourself with the platform.  

How long does it take to get my Forex4you account approved?

Account approval times vary. However, it usually takes a few business days after providing the needed documents.  

What documents are required to open a Forex4you account?

To open an account, you must provide a government-issued ID and evidence of address, such as a utility bill or bank statement.  

Trading Platforms and Software

MetaTrader 4

Renowned for its resilience and reliability, MetaTrader 4 is a favored selection among traders globally. Its user-friendly interface merges with various technical analysis instruments to assist inexperienced and proficient individuals in navigating the markets efficiently. The platform’s adaptability enables significant customization via an ample library of indicators and permits automated trading techniques using Expert Advisors. With multifarious charting capabilities coupled with secure trade surroundings, it is a splendid option for those seeking stability and extensive depth in their trades.

MetaTrader 5

MetaTrader 5 builds upon the fundamental features of its forerunner and introduces advanced capabilities. With additional timeframes, technical indicators, and a superior scripting tool to create personalized instruments or Expert Advisors (EA), it caters to traders seeking faster execution times coupled with insightful analytics. By providing easy access to diverse markets like commodities and stocks via one centralized platform interface. MetaTrader 5 streamlines trading activities while improving charting tools and order management systems. Perfect for those looking to incorporate innovative technologies into market analysis processes that better holistically serve trades’ needs.

Forex4you

The Forex4you platform is designed to fulfill the special demands of traders affiliated with this broker. It distinguishes out for its user-friendly design, which streamlines the trading process while maintaining functionality. The platform provides a frictionless trading experience for traders of all skill levels, including one-click trading, real-time quotations, and order execution. It is intended for people who want a simple, no-frills trading environment and access to critical tools and information for making educated trading decisions. The in-house platform appeals to individuals who want to interact directly with Forex4you’s services and customer care network.

Is MetaTrader 5 available at Forex4you?

Yes, they also offer MetaTrader 5, which has more technical indicators, timeframes, and superior order management capabilities than MetaTrader 4.  

How can I access Forex4you on my mobile device?

The broker has a mobile trading program for iOS and Android smartphones that allows users to manage their accounts, execute trades, and study markets on the move.  

Fees, Spreads, and, Commissions

Spreads

This broker boasts competitive spreads that vary depending on the type of account. Cent and Classic accounts enjoy fixed spreads starting at 2 pips, ensuring relative consistency in trading expenses. Meanwhile, Pro account holders are privileged to even narrower floating spreads beginning at 0.1 pips, which may substantially reduce trading costs for frequent or high-volume traders. These low-cost spreads appeal to scalpers and day traders who count on minor price fluctuations while requiring cost-effective settings to optimize their profits.  

Commissions

This broker has tailored its commissions to enhance the spread of offers, particularly for Pro account members. Traders can benefit from a simple commission structure at $0.10 per lot on Cent Pro accounts, which is ideal for cost-conscious traders. Meanwhile, Classic Pro account holders pay premiums starting at $8 per lot due to their more advanced trading experience and skills required for this type of account. The commissions are priced to appeal to active trades who stand to gain significantly from smaller spreads offered by these accounts while making it affordable enough not to affect user profits heavily.  

Overnight Fees

Swap fees, commonly called overnight costs, are an inescapable aspect of forex trading. Their swap charges vary based on the specific currency pair and market circumstances that impact interest rate differentials. Traders must be mindful of these expenses since they can affect profits from trades not completed within a single trading day. These rates are adjusted dynamically and made available publicly on the broker’s website enabling savvy traders to adapt their strategies as needed.  

Deposit and Withdrawal Fees

The broker strives to streamline the funding process by providing hassle-free deposits using multiple options without any charges. However, certain methods may incur withdrawal fees, which are explicitly displayed for complete transparency. For instance, e-wallets such as Neteller and Skrill might levy a fee based on a percentage of withdrawals. These expenses usually conform with market norms and are disclosed beforehand so traders can pick an economical method that suits them best.  

Inactivity Fees

Traders who do not engage in trading activities or have dormant accounts may be charged inactivity fees. They charge a $10 fee for accounts that have been dormant for longer than 12 months. This cost is levied to maintain the account and is standard in the business. It encourages traders to stay active or to delete their accounts if they no longer want to trade.  

Currency Conversion Fees

Currency conversion costs apply when traders operate accounts in other currencies than their deposit or withdrawal currency. The broker may charge a conversion fee to effectuate the required currency transaction. These costs compensate for currency risk and the service given while exchanging funds. To prevent unexpected costs, traders should consider these potential fees while managing their assets, particularly if trading in numerous currencies or their home currency differs from their account currency.  

Does Forex4you charge commissions?

Yes, they charge fees on some account categories, such as Pro accounts, with rates beginning at $0.10 per lot for Cent Pro accounts and $8 per lot for Classic Pro accounts.  

What fees are associated with deposits and withdrawals at Forex4you?

The broker has no fees for deposits. However, withdrawal fees may apply depending on the method chosen, with precise rates listed on their website.  

Which Markets Can You Trade with Forex4you?

✅Forex – This broker’s platform offers access to various currency pairings. Traders may buy and sell major, minor, and exotic pairings, taking advantage of currency market swings around the clock. ✅Commodities – Traders can trade various commodities, including precious metals like gold and silver, and energy commodities like oil. These commodities are typical inflation hedges and offer strong diversification opportunities. ✅Equities – The platform provides a range of particular stocks, allowing traders to speculate on the performance of different firms. This enables strategic expenditures depending on business success and industry trends. ✅Indices – The broker allows traders to trade on global indices, reflecting the performance of a certain stock market segment. This allows traders to bet on entire industries or economies without investing in individual stocks.  

Does Forex4you offer trading in major forex pairs?

Yes, the broker enables trading in all major forex pairs, giving traders a diverse choice of currency trading alternatives.  

Are indices available for trading on Forex4you?

Yes, they offer the possibility to trade worldwide indices, allowing players to bet on larger market moves.  

Leverage and Margin

This model enables traders to initiate larger positions with fewer actual funds and offers varying levels of leverage based on balance amounts, ranging from 1:1000 for balances up to $10,000. Further reductions are made as the account balance increases through graduated tiers. This moves towards decreasing leverages such as 1:500 for accounts carrying between $10,000 – $100,000. Even dropping it down further at ratios like 1:200 when the range is within $100k – $250k. Before ultimately capping out at rates like 1:100 above sums covering beyond a quarter million dollars. Traders must provide the margin for each deal to offset the broker’s risk. Sufficient margin is necessary to open and sustain positions. Otherwise, a warning in the form of a margin call may be issued if trader equity drops close to the requirement threshold. Transactions are reset when Stop Loss or Take Profit levels are set, allowing traders to avoid substantial losses from negative balances. The platform also employs locked/hedged margins when traders hold opposing assets within the same instrument category. Margin call levels act as crucial indicators of insufficient equity funds to cover open trades, taking into account unrealized profits or losses. During weekends and holidays with potential market gaps at opening time, these thresholds are heightened to prevent negative outcomes during subsequent trading sessions. Their proactive approach to leverage and margin control is evident through their implementation of a Stop Out level. This safeguard ensures that the broker automatically closes open trades, thereby preventing accounts from dipping into negative territory.  

How does Forex4you adjust leverage based on account equity?

Forex4you automatically changes leverage based on the trading account’s equity, with larger account balances resulting in lower leverage to reduce financial risk.  

What is the margin call level at Forex4you?

The margin call level at Forex4you signals that the account’s equity is reaching a crucial low point, needing more cash or the closure of trades to avoid stop-outs.  

Deposit & Withdrawal Options

Deposits Methods:

Bank Wire

✅Log in to the Trader Room and use your login credentials to access your Trader Room. ✅Navigate to the Deposit Section and choose the ‘Deposit’ option from the menu. ✅Select Bank Wire from the list of deposit methods. ✅Complete the details section with the amount you want to deposit and any other necessary banking information. ✅Confirm the transaction by examining the details and then agreeing to initiate the bank wire transfer. ✅Follow the instructions provided to complete the transfer from your bank account.

Credit or Debit Card

✅Log into your Trader Room. ✅Click on the ‘Deposit’ area to select a deposit option. ✅Select the credit or debit card option. ✅Enter your card number, expiration date, CVV, and deposit amount. ✅Authenticate the transaction by completing the authentication step that your bank needs. ✅Once validated, click Confirm Deposit, and your cash should be credited immediately.  

e-Wallets or Payment Gateways

✅Log in to your Trader Room by entering it on the website. ✅Navigate to the Deposit Section and pick the ‘Deposit’ option. ✅Choose your favorite e-wallet (Neteller, Skrill, or WebMoney). ✅Enter the deposit amount. ✅Authorize Payment by entering your e-wallet account when requested and confirming the transaction. ✅After confirmation, click the Finalize Deposit button, and your deposit should be completed promptly.

Withdrawals Methods:

Bank Wire

✅Log in to your Trader Room. ✅To access the Withdrawal Section, click on the ‘Withdrawal’ option. ✅Select the bank wire transfer method. ✅Request Amount by entering the withdrawal amount and providing the appropriate bank details. ✅Confirm withdrawal by entering the withdrawal information and submitting your request. ✅Wait for the transfer to be processed, and then check your bank account for funds.  

Credit or Debit Cards

✅Log in to the Trader Room to access your account. ✅Navigate to the ‘Withdrawal’ area. ✅Select the Credit or Debit Card Withdrawal option. ✅Withdrawal Details: Enter the amount to withdraw and your card details if not already stored. ✅Submit Request: evaluate and submit your withdrawal request. ✅Transaction Processed means that the monies will be processed and sent to the card used for deposit.  

e-Wallets or Payment Gateways

✅Log in to the Trader Room and access your Trader Room. ✅To select Withdrawal, navigate to the ‘Withdrawal’ section. ✅Select your preferred e-wallet option. ✅Withdrawal Amount: indicate the amount you wish to withdraw. ✅To authorize the transaction, log into your e-wallet. ✅Complete the withdrawal by confirming it; cash is often received quickly or within 24 hours.  

Are there any deposit fees at Forex4you?

No, the broker does not impose deposit fees, allowing traders to fill their accounts at no additional expense.  

How can I withdraw funds from my Forex4you account?

Withdrawals may be done using the same means as deposits: through the trader room, by selecting the withdrawal option, and following the instructions for that method.  

Educational Resources

✅This broker offers the following educational resources: ✅Articles – The broker offers a variety of articles covering various topics, including forex trading basics and sophisticated market analysis techniques. These articles are designed to provide practical knowledge for traders, whether they are new to leverage and margin or experienced. ✅Trading School – The Trading School is a comprehensive training program that guides traders through the trading process, from fundamental concepts to more complex methods. This tool is particularly useful for beginners with limited trading experience, helping them develop a solid foundation in forex trading. ✅ ideo Tutorials – The broker provides video tutorials with visual and interactive learning experiences, demonstrating how to use MetaTrader 4 and 5 and explaining trading ideas and methods. These videos particularly benefit those who prefer visuals or want to see trade principles in action.  

Can beginners find useful information on trading with Forex4you?

Yes, novices can discover a lot of material targeted to their interests, ranging from fundamental forex education to step-by-step instructions for utilizing trading platforms.  

What type of analysis materials does Forex4you provide?

They provide technical and fundamental analytical resources, such as market news and insights, to assist traders in identifying market trends and prospective trading opportunities.  

Pros & Cons

Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker. Based on our findings, this evaluation comprises positives, disadvantages, and an overall score. We want to assist you in locating the ideal broker for your requirements. Our broker review should not be considered financial advice. However, traders are urged to seek professional financial advice before making investment decisions.   Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the forex market is volatile and may change anytime, even if the information supplied is correct when going live.   Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all South African investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. In addition, you should not start investing capital you cannot afford to lose because you could lose part of your original investment.  

In Conclusion

According to our research, this broker stands out in the competitive forex and CFD brokerage environment for its client-centric strategy, which includes a variety of trading accounts catered to the various demands of the trading community.