Forex4you Review 2023
United States not accepted.Forex4you offers retail trading on a choice of top trading platforms.
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Awards
- Best Forex Broker Asia 2020 - Global Banking & Finance Review
Forex4you is an established forex broker offering the MT4 platform, as well as additional tools including copy-trading signals, an economic calendar and market news. This review dives into the broker’s offering, covering everything from spreads to opening times. Find out if Forex4you is the right choice for you.
Forex4you Details
E-Global Trade & Finance Group, Inc. (Forex4you) was established in 2007. The broker is registered in the British Virgin Islands but has been expanding globally since 2009, with offices in India, Thailand and Vietnam. The company is regulated by the British Virgin Islands Financial Services Commission (BVI FSC).
With 13 years of experience, Forex4you has earned multiple industry awards with over 2 million trading accounts opened. In 2013, the company launched its social trading service, Share4you, and in 2016 the company launched its own liquidity aggregator, MarketPlace.
Trading Platforms
Forex4you
The broker offers a proprietary fully-featured web terminal, as well as a downloadable desktop app version. The platform comes with full trading control with slippage function, equity stop-loss and full login transparency with tick charts. Price analysis features are also available with multiple timeframes from one minute, as well as custom charting tools.
MetaTrader 4
The downloadable MT4 platform is the most popular professional trading software, offering one-click trading functionality, automation scripts, advisors and dozens of technical analysis tools. There’s also a financial news feed with updates from Dow Jones, a full set of orders and a trading history feed.
Trading Markets
Forex4you offers over 150 tradable instruments, consisting of 50 currency pairs, commodities including gold and crude oil, over 15 major indices including the FTSE 100 and 50+ company stocks. Our review was disappointed to see that trading in cryptocurrencies isn’t available, however.
Fees
Spreads are fixed from 2.0 pips in the Classic and Cent accounts. In the Pro STP account, live spreads for major pairs such as EUR/USD average around 0.1 pips.
Commission-free trading is offered in the Cent and Classic accounts, but fees are charged at $8 per lot in the Pro STP account and 10 cents per lot in the Cent NDD account. Swaps are also applied automatically during rollover periods, which are tripled from Wednesday to Thursday.
Leverage
Leverage limits at Forex4you vary depending on the equity of the trading account. The maximum leverage available is 1:1000 for accounts up to $10,000 and 1:100 for accounts of $250,000 and over.
Mobile Apps
The Forex4you proprietary platform is also available as a mobile app, which works with iOS and Android phones. The app offers a simple trading interface, with account management features, advanced charting tools, customised trading preferences and an economic calendar.
The MT4 platform is also delivered as a mobile app, offering advanced functionality including 30 technical indicators, 3 types of charts and 9 time frames. There’s also a news feed and real-time quotes of financial instruments.
Both apps are available for download from the App Store or Google Play.
Payment Methods
Forex4you offers funding via Neteller, Skrill, WebMoney and bank cards. All deposit and withdrawal methods are processed instantly, apart from bank card withdrawals, which take 1 – 6 working days.
Deposits are fee-free but withdrawals range from 0.8% to 2% for e-payment systems, whilst bank cards cost 2.5 + 2.5% (EUR or USD). Minimum deposits and withdrawal limits start from $1.
Demo Account
A free demo account is offered for traders who want to test drive the platforms, compare the different execution modes and test strategies, all within real market conditions. Only virtual money is used, meaning you can place simulated trades without risking real capital.
Forex4you Bonuses
Forex4you offers promotions, including a monthly contest, with opportunities to win up to $400. There is also a 100% deposit bonus as well as a 50% cashback programme. These are subject to certain trading requirements so make sure to check these in the terms and conditions.
Regulation Review
E-Global Trade & Finance Group, Inc. is authorised and licensed by the British Virgin Islands Financial Services Commission (BVI FSC).
The BVI is a British Overseas Territory and therefore operates offshore supervision of financial services companies. Typically, it’s not compulsory for brokers under this jurisdiction to segregate client funds. Nonetheless, Forex4you does claim to hold client funds in a segregated account and also claims to undertake annual audits by a Big Four accounting firm.
The company is available to clients worldwide, from Kenya to Indonesia.
Additional Features
The most notable feature on offer is the Share4you social copy-trading tool, which allows users to automatically replicate the activity of experienced traders. The broker also offers forex analysis via Trading Central and FX Street.
In addition, there is some educational content on offer, including regular forex seminars and the Trading School, with dozens of lessons for beginners and advanced traders. There’s also a suite of video tutorials with desktop and mobile trading tips, plus regular market news and an economic calendar.
Account Types
Forex4you offers 4 account types: Cent, Classic, Cent NDD and Pro STP. The minimum deposit across all accounts is $0 and the minimum trade volume is 0.01 lots. All accounts get access to Share4you and hedging capabilities. Note that trading all asset classes is only possible in the Pro STP account.
- Cent – Instant execution (1.29 seconds), 1000 maximum lot size, fixed spreads from 2 pips, no commission, 1 month history storage
- Classic – Instant execution (0.88 seconds), 200 maximum lot size, fixed spreads from 2 pips, no commission, 3 months history storage
- Cent NDD – Market execution (0.81 seconds), 1000 maximum lot size, floating spreads from 0.1 pips, $0.10 per lot commission, 1 month history storage
- Pro STP – Market execution (0.59 seconds), 500 maximum lot size, floating spreads from 0.1 pips, $8 per lot commission, unlimited history storage
Note that swap-free accounts are not available at Forex4you.
Benefits
There are benefits of trading with Forex4you, including:
- Copy-trading
- $0 minimum deposit
- Cent and standard lots
- Floating spreads from 0.1 pips
- Commission-free trading available
- Straightforward online application
Drawbacks
There are also drawbacks when trading with Forex4you:
- Offshore regulator
- Cryptocurrencies not offered
- US, UK and EEA not accepted
- Not as many instruments as other brokers
Trading Hours
The FX market opening times at Forex4you are from 00:00 on Monday to 23:00 on Friday. The trading terminal time is Central European Time (CET). You can find specific market hours by clicking on the instrument details within your trading platform.
Customer Support
Forex4you offers 24/7 support in 8 languages, including English, Thai, Malay and Mandarin. From the UK, the number is +44 207 193 9932, otherwise, a list of international toll-free numbers is available on the website. Alternatively, you could email customer support at info@forex4you.com or get in touch via the live chat.
Client Security
The MetaTrader 4 platform is a secure and trusted software, complying with high-level security requirements. This includes encryption protocols and two-factor authentication. Forex4you is not transparent around security in its proprietary platform.
Forex4you Verdict
Forex4you offers a decent range of services and four accounts for instant and market execution, with both fixed and floating spreads. The accounts are also beginner-friendly, with a $0 minimum deposit while supporting hedging and scalping techniques. Traders can also choose between the popular MT4 platform or the broker’s proprietary solution.
Accepted Countries
Forex4you accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, Norway, United Arab Emirates, Saudi Arabia, Kuwait, Qatar and most other countries.
Traders can not use Forex4you from United States, Japan, Canada, Australia, , Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, , Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden.
Payment Methods
Forex4you Details
| Minimum Trade | 0.01 Lots |
|---|---|
| Regulated By | BVI FSC |
| Islamic Account | No |
| Mobile Apps | Yes |
| Margin Trading | No |
| Volatility Index | No |
| Spot Trading | No |
| Perpetual Swaps | No |
| ELWs | No |
| REITs | No |
| AI / Machine Learning | No |
| Robo Advisor | No |
| P2P Trading | No |
| Negative Balance Protection | No |
| VPS Hosting | No |
| Tournaments | No |
| Demo Competitions | No |
| Managed Accounts | No |
| Market Maker | No |
| Auto Trading | Yes |
| Social Trading | Yes |
| Trade Signals | Yes |
| Guaranteed Stop Loss | No |
| Commodities |
|
CFD Trading Details
| FTSE Spread | 1.1 |
|---|---|
| GBPUSD Spread | 0.3 |
| Oil Spread | 2.6 |
| Stocks Spread | Variable |
| Leverage | 1:1000 |
Forex Trading Details
| GBPUSD Spread | 0.3 |
|---|---|
| EURUSD Spread | 0.1 |
| EURGBP Spread | 0.3 |
| Assets | 50+ |
Top 3 Alternatives to Forex4you
Compare Forex4you with the top 3 similar brokers that accept traders from your location.
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IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
Go to IG Group -
World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Go to World Forex -
Interactive Brokers – Interactive Brokers is a leading global brokerage that provides access to a comprehensive offering of stocks as well as forex, futures, metals, bonds and cryptos. The firm has over 40 years experience in the online trading industry and is heavily regulated by SEC, FCA, IIROC, and SFC. Day traders can use the proprietary Trader Workstation and can access powerful tools and data feeds as well as comprehensive educational resources.
Go to Interactive Brokers
Forex4you Comparison Table
| Forex4you | IG Group | World Forex | Interactive Brokers | |
|---|---|---|---|---|
| Rating | 2.5 | 4.4 | 4 | 4.3 |
| Markets | Forex, CFDs, stocks, indices, commodities | CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts | Forex, Stocks, Commodities, Crypto |
| Demo Account | Yes | Yes | Yes | Yes |
| Minimum Deposit | $0 | $0 | $1 | $0 |
| Minimum Trade | 0.01 Lots | 0.01 Lots | 0.01 Lots | $100 |
| Regulators | BVI FSC | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA | SVGFSA | SEC, FCA, IIROC, SFC |
| Bonus | 100% deposit bonus | – | 100% Deposit Bonus | – |
| Education | No | Yes | No | No |
| Platforms | MT4, TradingCentral | MT4, AutoChartist, TradingCentral | MT4, MT5 | AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Leverage | 1:1000 | 1:30 (Retail), 1:250 (Pro) | 1:1000 | 1:50 |
| Payment Methods | 6 | 6 | 10 | 11 |
| Visit | – | Visit | Visit | Visit |
| Review | – | IG Group Review |
World Forex Review |
Interactive Brokers Review |
Compare Trading Instruments
Compare the markets and instruments offered by Forex4you and its competitors. Please note, some markets may only be available via CFDs or other derivatives.
| Forex4you | IG Group | World Forex | Interactive Brokers | |
|---|---|---|---|---|
| CFD | Yes | Yes | Yes | Yes |
| Forex | Yes | Yes | Yes | Yes |
| Stocks | Yes | Yes | Yes | Yes |
| Commodities | Yes | Yes | Yes | Yes |
| Oil | No | Yes | Yes | No |
| Gold | Yes | Yes | Yes | Yes |
| Copper | No | Yes | No | No |
| Silver | Yes | Yes | Yes | No |
| Corn | No | No | No | No |
| Crypto | No | Yes | Yes | Yes |
| Futures | No | Yes | No | Yes |
| Options | No | Yes | No | Yes |
| ETFs | No | Yes | No | No |
| Bonds | No | Yes | No | Yes |
| Warrants | No | Yes | No | Yes |
| Spreadbetting | No | Yes | No | No |
| Volatility Index | No | Yes | No | No |
Forex4you vs Other Brokers
Compare Forex4you with any other broker by selecting the other broker below.
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| Forex4you offers retail trading on a choice of top trading platforms. | ||
FAQ
Is Forex4you a scam?
Forex4you is a registered company authorised by the BVI FSC. Despite its offshore location, we didn’t find any red flags that would suggest a scam, but traders should thoroughly research the broker and check out online reviews if they are unsure.
How do I register with Forex4you?
You will need to complete the online application form and then confirm your identity by submitting your ID and proof of address. Once you have completed the verification process, you will be able to sign in using your web login details.
What leverage is available at Forex4you?
Leverage at Forex4you depends on your account balance but is available up to a maximum of 1:1000.
Does Forex4you offer signals?
Forex4you offers the Share4you service, where leaders provide trading signals to followers who want to copy their trades.
Does Forex4you accept clients from Malaysia?
Yes, Forex4you accepts clients from Malaysia, Indonesia and other countries in Asia, Africa, and South America. The service is not available to residents in the USA, Japan, Canada, Australia and the European Economic Area.
Customer Reviews
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