YouTradeFX is one of the few forex brokers that not only lets you trade in the forex market, but also gives you access to CFDs and even some binary options as well. It has gives you a wide variety of market tools and education materials to help you succeed in your trading and gives you access to the great, powerful MetaTrader platform. While the spreads aren't the lowest we've seen on our forex broker reviews, especially for smaller accounts, the plethora a deposit options, good customer support, and trading tools makes them worth a look.
YouTradeFX offers all traders market tools and educational material to rival any other broker. As a trader, you will receive free trading signals, daily market analysis, and access to simple trading tools such as pip and risk calculators. The educational materials are much better compared to other brokers and you may even qualify to learn to trade with a personal FX coach. All traders get access to downloadable PDF guides and video tutorials.
YouTradeFX uses the popular MetaTrader platforms used my many brokers and professional traders alike. The forex broker platforms offered include the web and mobile versions of MetaTrader as well as the desktop versions of MetaTrader 4 and MetaTrader 5.
The MetaTrader forex broker platforms are so widely used by traders today for good reason. They offer minimal slippage and price feeds from over fourteen different banks and financial institutions to make sure that you get the best prices in every one of your trades. It's quick, easy to use, and gives you powerful tools to let you trade like a pro. There are thousands of different signals available for use with MetaTrader, and you can even build your own to make your own unique trading style.
There are four different account types that you can open at YouTradeFX. The account type and benefits that you receive will depend on the amount of your deposit. The account levels are:
-$100-$200 minimum deposit
-Spreads starting at 4 pips
-Up to 500:1 leverage
-$2,000-$10,000 minimum deposit
-Spreads as low as 3 pips
-Up to 1:300 leverage
-Spreads as low as 2 pips
-Up to 1:200 leverage
-Greater than $1,000 deposit
-Access to the ECN platform and interbank rates on currencies
-Up to 1:100 leverage
YouTradeFX also offers access to $50,000 forex demo accounts. With forex demo accounts, you can practice your trading using the live software the same software you and tools you will be using with real money, but without having to risk anything. They are a valuable tool to help new traders get started in the market.
The spreads and leverage that you can receive at YouTradeFX depends on your account level. For major currency pairs, this is between 4 pips at the mini account level and 1 pip spreads for ECN accounts. The spreads are competitive with other brokers, but not the lowest we've covered in our forex broker reviews.
Other than the spreads, YouTradeFX offers commission free trading to all members.
YouTradeFX offers a plethora of choices for deposit and withdrawal. All withdrawals are process by the same method as the deposit and guaranteed to be in your hands within three business days. You can even now withdrawal your profits are local ATMs around the globe with a debit card! The other supported methods of transferring money include: Moneybookers (Skrill), CasuU, Paypal, WebMoney, ClickandBuy, Visa, Mastercard, Amex, and Bank Transfers.
On April 4, 2012, YouTradeFX received it's regulation from the Financial Services Authority (FSA) in the United Kingdom for the first time (License #548033). FSA rules and regulations require that brokers maintain records of customer funds and ensure that they aren't used by the company as assets. This ensures that your money stays safe. In addition to the FSA, YouTradeFX is also regulated by the Financial Services Commission in Mauritius (License #097392) and the Australian Securities and Investment Commission (License #149 011 361).
The YouTradeFX website is available in 12 different languages and customer support is available to take your questions and concerns 24/7 via live chat, telephone, or email. Support is generally quick and representatives are helpful and knowledgeable.
YouTradeFX is a quality broker that offers a solid product to traders. While it doesn't offer a ton of perks or bonuses, it does offer exceptional service and a dedication to its traders, which will make you more money in the long term. If you're looking for a new broker, they are worth checking out. Try their forex demo accounts for a risk free test drive.