Forex4you Review 2023

2.5
/ 5
Forex4you is #114 in our CFD broker rankings.

Forex4you offers retail trading on a choice of top trading platforms.


Trusted

Demo Account

Award Winning

MetaTrader 4
$0
MT4, TradingCentral
Forex, CFDs, stocks, indices, commodities
100% deposit bonus
Neteller, Credit Card, Skrill, WebMoney, Visa
and 1 more

Forex Trading

Take positions on the FX market with leverage.

Stocks Trading

Trade on 50 company stocks and 15 stock exchanges.

CFD Trading

Start trading on the markets with CFDs.

Crypto Trading

Not Available

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.

Forex4you WebTrader
Forex4you WebTrader

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.

Forex4you MetaTrader 4
Forex4you MetaTrader 4

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.

Forex4you mobile app
Forex4you mobile app

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.

Forex4you MT4 mobile app
Forex4you MT4 mobile app

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.

Forex4you copy trading terminal
Forex4you copy trading terminal

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.

Note that swap-free accounts are not available at Forex4you.

Benefits

There are benefits of trading with Forex4you, including:

Drawbacks

There are also drawbacks when trading with Forex4you:

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
  • Gold
  • Silver

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+

Compare Forex4you

Compare Forex4you with similar brokers that accept traders from your location. Among available brokers these are the most similar to Forex4you:

  1. OANDA – OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is authorized by leading regulators, including the CFTC/NFA. Around the clock support is available, alongside flexible contract sizes and automated trade executions.
    Go to OANDA
  2. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to Forex.com
  3. Webull – Webull is a US-regulated trading app that offers stocks, options, forex, cryptos, ETFs, fractional shares and more. The firm is authorized by the SEC and FINRA with a strong trust rating. Low fees, no minimum investment and generous bonuses have made the discount broker popular with online investors.
    Go to Webull

Forex4you Comparison Table

Compare Forex4you With Similar Brokers
Forex4you OANDA Forex.com Webull
Rating 2.5 4.5 4.5 4.4
Markets Forex, CFDs, stocks, indices, commodities Forex Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options Stocks, ETFs, options, cryptos, forex, ADRs, fractional shares, OTCs
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $0 $100 $0
Minimum Trade 0.01 lots $0 $1 $5
Regulators BVI FSC CFTC, NFA CySEC, IIROC, NFA, CFTC, FCA, CIMA SEC, FINRA
Bonus 100% deposit bonus $5,000 welcome bonus with a deposit of $500 Six free stocks
Education No Yes Yes Yes
Platforms MT4, TradingCentral MT4, TradingView, AutoChartist MT4, MT5, TradingView, AutoChartist, TradingCentral
Leverage 1:1000 1:30 EU, 1:200 Global 1:200
Payment Methods 6 12 8 3
Visit Visit Visit Visit
Review Forex4you
Review
OANDA
Review
Forex.com
Review
Webull
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.

Compare Forex4you Trading Instruments
Forex4you OANDA Forex.com Webull
CFD Yes No Yes No
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes No
Oil No No Yes No
Gold Yes Yes Yes No
Copper No Yes No No
Silver Yes Yes Yes No
Corn No Yes No No
Crypto No Yes Yes Yes
Futures No No Yes No
Options No No Yes Yes
ETFs No No No Yes
Bonds No Yes No No
Warrants No No No No
Spreadbetting No No No No
Volatility Index No No No No

Forex4you vs Other Brokers

Compare Forex4you with any other broker by selecting the other broker below.

Forex4you vs

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.

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Forex4you offers retail trading on a choice of top trading platforms.