To understand whether Forex4you is suitable for you or not, I recommend to pay attention to these 3 things: reputation, trading conditions, and regulation.
For how long the company is in the market?
- Forex4you is in the market since 2007.
What are the main advantages here?
- Forex4you has cent accounts, which means that clients can start trading on a real account with any deposit. Also, Forex4you has its PAMM platform which might be interesting for Forex investors and traders who want to attract funds for management.
Did you find any reasons not to work with this broker?
- The important thing about Forex4you is that it is not regulated by European organizations such as FCA and CySEC.
Does Forex4you have swap-free (Islamic) accounts?
- We did not find an option to open a swap-free account with Forex4you.
What is the minimum deposit amount?
- The minimum deposit to start trading on a cent account is around $10.
Is this broker regulated?
- Forex4you is authorized and licensed by the Financial Services Commission (FSC) under the Securities and Investment Business Act, 2010 (“SIBA”) in the British Virgin Islands (“BVI”). Under SIBA regulation, the FSC promotes the BVI’s license regime to comply with international best practices and common standards of industry predefined by such organizations as the International Monetary Fund and the International Organization of Securities Commissions.
Anything special about spreads and margin leverage?
- The maximum margin leverage is 1:1000 which one of the highest in the market. Please remember that trading with a high margin leverage is very risky!
|Avg rebate per lot||$7.80|
|Minimum trade size||0.01|
Suspicious reviews that we found
Its horrible broker. Run away as far as you can guys. AVOID!!! Asked representative will I get my new MT4 password to email same way I get to the phone number and been told YES. And after that it became a nightmare. My funds were locked for 30days as it was uploaded with new debit card. I asked customer support to send me a new pasaword by email. Guess what- no ways!!! I spoke through the online website phone line but even there they were unable to help cause the ONLY way to change password for mt4 on their stupid system is to send it by txt message.WTF?!!! And even after I changed my number I needed to fill forms online to sort the things out. Instead of few simple clicks I spent 2days . So be aware, run away from this ridicoulus and useless broker.*
*We found this review on Forexpeacearmy.com. The client had an issue with password restoration, we do not know if the issue was solved by the customer support, hopefully, it was.