FOREX4YOU BROKER PROS AND CONS
We have used the service to test out the broker, trying to compare every aspect; Swap, Spread, Commission, Inquiries Service, Support, Deposit and Withdrawal, and all of the services of Forex4you Broker and figure out what is suitable for traders.
There is a free trial of Cent account for beginners, which requires a small amount of money
- Margin Call level is as low as 20%
- You can open an account with very little money.
- The account is not deactivated, always available.
- Applying for an account is easy and hassle-free.
Fixed Spread does not change according to the market.
Commission is high compared to other brokers.
Cent and Classic account also use 4 decimal places, making spread high.
Thai Support is available from 7 AM to 5 PM, only on Monday to Friday.
Support service is slow.
Deposits and withdrawals have a fee of 10 baht in Thailand.
The web page cannot be changed to English.
FOREX4YOU BROKER BONUS
Deposit Bonus: up to 100% on any amount deposited. In the Cent account type, the Cent NDD account and the Classic account except the Pro STP account means that if you deposit $100, you will get a $100 bonus, making $200 Credit to trade.
FOREX4YOU FREE VPS
Currently, Forex4you does not offer a VPS service.
FOREX4YOU SPREAD AND SWAP INFORMATION
1. FOREX4YOU SPREAD
Our spread and swap cost calculations are already charged per 1 lot open order size of Standard account (100,000 USD per 1 lot), so the value shown is in USD.
There are four Forex4you account types: Cent, Classic, CentNDD, and ProSTP accounts. To assess Broker’s spread and swap, we conduct a test the spread check including commission costs. In order to compare the commission-free brokerage from all 4 types of accounts in real-time situations at different times, then averaged spread data is obtained as follows:
|Currency||Cent (MT4)||Classic (MT4)|
Cent NDD (MT4)
|Pro STP (MT4)|
2. FOREX4YOU SWAP
The daily cost of holding a trader’s position when trading with Forex4you is charged when opening a 1 Lot Standard (100,000 Lot) order. It shows the daily cost of holding 1 Lot Standard account size as follows:
Spread and Swap comparisons of all brokers can be viewed to create a trading strategy. Build your own trading advantage here.
3. FOREX4YOU COMMISSION
OTHER FOREX4YOU INFORMATION
It has been established since 2008, long-running Forex4you Broker has developed its own approach like Copy Trade service from profitable traders opening accounts with Forex4you. By separating the customer account from the company means regardless of any financial difficulties, the broker can reimburse the customers’ funds in the event of a significant incident.
Forex4you is financially registered with the country in which its office is located with the following information:
- E-global Trade & Finance Group, Inc (E-Global) registered in British Virgin Island or BVI licensed by BVI FSC.
FOREX4YOU ACCOUNT USAGE
Opening a Forex4you Broker account can be done through the Platform. However, there are support services available as well which can be contacted through support.
1. Forex4you Forex Account Opening Documents
Documents required to open a trading account with Forex4you Broker include:
- Identity verification documents for Thais is ID card, driving license, or passport (Select one), both the front and the back. The expiration period shall be more than one month.
- The address verification document must match the address shown on the identity card, it is recommended to use water, electricity, telephone, internet bills, credit card receipts, or bank statement (original) issued by the bank. There must be a stamp from the bank, an officer’s signature, and the date of issue of the document. The documents must not be older than 3 months from the date of issuance. (By scanning in color or taking only the front of the original card)
2. FOREX4YOU Account Types
There are several types of Forex4you’s Forex Trading accounts with different pros and cons and different features, designed to allow traders to choose according to their strategy and capital with Leverage up to 1:2000. Forex4you’s order execution system has a Cent account system. It is suitable for low-income retail customers and STP accounts, enabling fast execution of orders.
The table shows the account types of Forex4you Forex Account
Forex4you’s account has some types of accounts with commission fees over the service. You can find a comparison of the pros and cons between other brokers on the Forex Broker Comparison page.
FOREX4YOU Support Service
We conducted a test communication with support via chat and made an assessment according to the criteria; able to fix the problem, promptness of service, problem-solving intention, not just sending links to read to acquire answers. Therefore, we have reviewed the broker and found the following service problems:
- On weekends and public holidays, there will be no live chat, email, or support services.
Support is in service from 7:00 AM – 10:00 PM, Monday to Friday.
Toll-free service for assistance: 02-105-5727
- Line : @forex4you
- Email : email@example.com
- E-mail answering is complete for all questions. The staff answered the question by sending a link for customers to read by themselves.
“Overall, the disadvantages of Forex4you’s Support are that the staff sending the link to customers for them to read by themselves, and there is no support service available on holidays.”