Forex4You has been online since 2007 and is owned by E-Global Trade and Finance Group, an operator of many top forex brokers online. They are headquartered in Tortola in the British Virgin Islands but are currently not regulated by any country.
While the lack of regulation may be worrisome to some traders, Forex4You has a user focused mission statement and aims to help you trade profitable, and thus more often with them. They don't push high risk investments and help you get the education and experience you need to get started through their learning materials and low deposit thresholds. If you're just starting out as a forex trader, Forex4You gives you an easy, low cost way to get started.
Forex4You offers its frequent traders a forex trading bonus that can be up to 50 percent of the spread on your transactions. The best part about the bonus program is that it is completely customizable to your level of trading and is applicable on every single deposit.
When you add funds to your account, you simply check which forex trading bonus you want, which can be between 5 and 50 percent. If you choose higher bonus amounts, you will have to trade more to qualify for the bonus. While you won't be able to withdrawal or trade with your bonus until you reach the trading target, once you do reach the target the bonus become yours. You can trade with it of withdrawal it to your bank account if you wish. For more information, check out the terms and conditions at Forex4You.
Forex4You gives you access to the award winning MetaTrader 4 and 5 platforms. These are the top forex platforms in the market today and are preferred by most professional traders that don't use more expensive multi-screen terminals.
MetaTrader gives you access to all the charting tools that you will need, signals, the ability to create your own trading robots and strategies, and lightning quick execution times that you can't find on any other platform. When compared with proprietary platforms developed by other top forex brokers, MetaTrader comes out on top nearly every time for flexibility and ease of use.
Forex4You offers an iPad fx trading app that is provided by Xogee, a software company which also provides platforms for brokers such as ForexClub and Instaforex. The app is free and can be downloaded in the Apple store.
There are four different account types that you can open at Forex4You.
If you aren't sure if the broker is right for you yet, the place to start is with a free demo account. Demo accounts let you trade with real price movements, but with play money. You can try out the platform and see if your strategy and trading style will make you money without having to risk your hard earned cash.
Once you're ready to start putting real money in the market, you can move up to a Cent Account. Cent Accounts are specifically designed for beginners and offers three different levels depending on your deposit. You get spreads from two pips and one to ten second order execution times. Leverage ranges from 1:10 to 1:500. What sets the account apart is that you can trade in very small lots, allowing you to only risk a small amount of money on each trade. You can learn from your mistakes and gain experience without breaking the bank.
Regular users will want to move right to the Classic Accounts. Classic Accounts have a deposit range of $1 to $1,000 and also offer spreads from 2 pips. However, the lot sizes are bigger than at the Cent Account level and execution times are slightly faster.
If you're a professional user, Forex4You also offers an account type that caters to you. Pro accounts require a $3,000 deposit but get spreads from 0.8 pips, the fastest execution times, and 1:100 leverage.
The spreads that you can get at Forex4You depends on the account type and the currencies that you trade. For Classic and Cent Accounts, spreads start at around two pips for major currency pairs. For Pro Accounts, spreads can be as low as 0.8 pips.
Account funding and withdrawals can be processed via Visa, Mastercard, Liberty Reserve, NetPay, WebMoney, Skrill (Moneybookers), Acquiro, FSP, and wire transfer.
Chat and phone support are always available and have good response times. Unfortunately, response times via email take several days for a reply.
Forex4You is a great broker for beginning traders to get started in the market with. They give you educational tools, bonuses, and access to the top forex platforms that you need to make a profit in the hard-nosed fast moving forex market. Check out their site for more information on how to get started with this top forex broker.