Latest Review of Forex4you in 2023

Forex4you is a name not unfamiliar to Vietnamese traders. This forex broker is not well-known for its reputation or excellent trading conditions, but rather for its social trading platform called Share4you. Share4you is a copy trading platform highly regarded by many traders worldwide. However, mentioning this doesn’t imply that the trading conditions at Forex4you are not good. Currently, the broker has over 132,000 active accounts, which means more than 132,000 people trust and use its services. This is not a small number in the forex market.

 

What is Forex4you? Basic Information about Forex4you

Forex4you is a brand operating under the E-Global Trade & Finance Group, established in 2007 in the British Virgin Islands, UK. Alongside Forex4you, an online trading service, the group also introduced Share4you, a social trading platform, in 2013. This platform is considered a pioneer project in the forex industry, preceding the boom of online social trading, which happened only a year later.

As of now, Forex4you has provided services to more than 132,000 traders worldwide and executed 933 million trading orders. According to the latest company reports, the total customer balance in Q1/2020 was $100 million USD, with a total trading volume in March 2020 reaching $70 billion USD.

Not limited to the British Virgin Islands, Forex4you focuses on expanding its operations and targets markets in China, India, and the Southeast Asian region (Thailand, Malaysia, Indonesia, and Vietnam). In Vietnam, Forex4you currently has three offices in the country’s largest cities: Ho Chi Minh City, Hanoi, and Danang. This presents a significant advantage for Vietnamese traders.

Basic Information about Forex4you:

• Year established: 2007
• Headquarters: Virgin Islands, UK
• Maximum leverage: 1:2000
• Minimum deposit: None required
• Trading products: Forex, indices, stocks, metals, crude oil, cryptocurrencies
• Account types: Cent, Cent NDD, Classic, Pro STP
• Trading platforms: MT4, Forex4you Platform
• Copy trading: Yes
• Deposit and withdrawal methods: Credit cards, e-wallets, internet banking

Certification and Licensing of Forex4you

Forex4you operates under the umbrella of the E-Global Trade & Finance Group, founded in 2007 in the Virgin Islands, UK. The company introduced Share4you, a social trading platform, in 2013, which was considered pioneering in the forex industry even before the boom of online social trading occurred a year later.

As of the current time, Forex4you has provided services to over 132,000 traders worldwide, executing 933 million trading orders. According to the latest company reports, the total client balance in Q1/2020 was $100 million, with a trading volume of $70 billion in March 2020.

In addition to its Virgin Islands presence, Forex4you has been actively expanding its operations and targeting markets in China, India, and Southeast Asia (Thailand, Malaysia, Indonesia, and Vietnam). In Vietnam, Forex4you has established offices in major cities such as Ho Chi Minh City, Hanoi, and Danang.

Over nearly 13 years in operation, Forex4you has received prestigious awards, including the IAIR Award for “Best Forex Broker in Southeast Asia 2017” and the Le Fonti Award for “Best Broker 2018.”

While Forex4you lacks licensing from major regulatory authorities such as the FCA, CySEC, or ASIC, it operates under the regulatory oversight of the British Virgin Islands Financial Services Commission (BVI FSC). A broker’s licensing from reputable regulatory bodies is crucial in establishing trustworthiness, as it ensures the safety of clients’ funds and promotes fair and transparent trading practices.

However, it’s worth noting that in the event of the broker’s insolvency, traders may not receive compensation since Forex4you does not participate in any deposit insurance programs, and the BVI FSC does not provide any financial services compensation schemes for investors.

With its regulatory status potentially lacking full confidence, traders may wonder whether Forex4you’s trading conditions are competitive enough to justify opening an account with the broker. Detailed evaluations of trading conditions and platforms provided by Forex4you below may provide a more comprehensive answer.

Trading Products Offered by Forex4you:

Forex4you offers a product portfolio with over 120 trading instruments. While diverse, the number of instruments in each category is relatively limited compared to other brokers in the market. The product categories include:

 

• Forex: 43 currency pairs, including major, minor, and exotic pairs.
• Indices: 11 stock indices from major markets like the US, UK, Germany, Hong Kong, and more, including popular indices like US30, US500, UK100, HK50, EU50, and DE30.
• Stocks: 52 stock offerings from renowned global companies listed on the US stock market, including Apple, Amazon, Google, Facebook, Boeing, Nike, Intel, and others.
• Metals: Gold and silver.
• Crude Oil: Brent crude and WTI crude.
• Cryptocurrencies: Trading is available for five of the largest cryptocurrencies by market capitalization: BTC, BCH, ETH, LTC, and XRP.

Các loại tài khoản giao dịch được cung cấp bởi Forex4you

Forex4you provides a range of trading account types to accommodate different trading needs and capital levels. There are four main account types offered by this forex broker:

1. Cent Account:
   • Ideal for new traders.
   • No minimum deposit requirement.
   • Maximum leverage of 1:2000.
   • Minimum trade size: 0.01 lot (1 lot = 1,000 base currency units).
   • Fixed spreads: Suitable for scalping.
   • Allows for experimenting with Expert Advisors (EAs) with low-risk capital.
2. Cent NDD Account:
   • Similar to the Cent account but with floating spreads.
   • Commissions apply to forex trades.
3. Classic Account:
   • Suitable for experienced traders.
   • No minimum deposit requirement.
   • Fixed spreads starting from 2 pips.
   • No commissions on forex trades.
   • Designed for traders who can manage and react to market volatility effectively.
4. Pro STP Account:
   • Designed for professional traders.
   • No minimum deposit requirement.
   • Floating spreads starting from 1 pip.
   • $8 per lot commission.
   • Ideal for traders seeking the best trading conditions and platforms.

Here’s a comparison of the trading conditions for these four account types at Forex4you:

 

Điều kiện giao dịch	Tài khoản Cent	Tài khoản Cent NDD	Tài khoản Classic	Tài khoản Pro STP
Thời gian thực thi lệnh	1.34 giây	0.83 giây	0.88 giây	0.55 giây
Tiền nạp tối thiểu	0$	0$	0$	0$
Đòn bẩy tối đa	1:2000	1:2000	1:2000	1:2000
Phí hoa hồng (forex)	Không	0.1$/lot	Không	8$/lot
Spread (forex)	Cố định từ 2 pips	Thả nổi từ 0.1 pips	Cố định từ 2 pips	Thả nổi từ 0.1 pips
Công cụ giao dịch	43 cặp forex, 33 cổ phiếu, kim loại	38 cặp forex, 52 cổ phiếu, kim loại	42 cặp forex, 33 cổ phiếu, kim loại	39 cặp forex, 52 cổ phiếu, chỉ số, kim loại, dầu thô, tiền điện tử
Khối lượng lệnh tối thiểu/tối đa (forex)	0.01 lots/1,000 lots (1 lot = 1,000)	0.01 lots/1,000 lots (1 lot = 1,000)	0.01 lots/200 lots (1 lot = 100,000)	0.01 lots/200 lots (1 lot = 100,000)
Số lượng lệnh mở tối đa (forex)	500	500	500	500
Margin call/Stop out	50%/10%	50%/10%	100%/20%	100%/20%
Hỗ trợ tài khoản swap free	Có	Có	Không	Không
Hỗ trợ nền tảng Share4you	Có	Có	Có	Có

Leverage, Commissions, and Spreads at Forex4you:

Leverage

Forex4you offers high leverage, with a maximum leverage of up to 1:2000 available on all their account types. However, the maximum leverage can vary depending on the type of financial instrument you are trading:

• For currency pairs: Maximum leverage is 1:2000.
• For metals: Maximum leverage is 1:2000.
• For indices: Maximum leverage varies, with indices from the US, UK, Germany, and Europe having a maximum leverage of 1:200, while other indices have maximum leverages of 1:50, 1:40, or 1:20.
• For stocks: The maximum leverage for all stocks is 1:10.
• For crude oil: The maximum leverage for both WTI and Brent crude oil is 1:100.
• For cryptocurrencies: The maximum leverage for all cryptocurrency pairs is 1:5.

Additionally, like many other forex brokers, Forex4you limits the maximum leverage based on the current equity on your trading account. Here are the specific leverage limits based on equity:

• From $0 to less than $1,000: 1:2000.
• From $1,000 to less than $10,000: 1:1000.
• From $10,000 to less than $100,000: 1:500.
• From $100,000 to less than $250,000: 1:200.
• Above $250,000: 1:100.

In some cases, Forex4you may also reduce the maximum leverage to 1:100 for forex and 1:40 for other asset classes during specific time periods, such as two hours before the trading sessions close or one hour before significant news releases.

Commissions:

Commissions vary based on the account type and the specific products being traded. Here’s a breakdown:

• Cent NDD Account: Commissions apply on forex trades.
• Pro STP Account: A commission of $8 per lot applies.

Spreads:

The spreads at Forex4you can vary based on the account type and market conditions. Here’s a summary:

• Cent Account: Fixed spreads.
• Cent NDD Account: Floating spreads on forex pairs.
• Classic Account: Fixed spreads.
• Pro STP Account: Floating spreads.

It’s important to keep in mind that spreads can widen during volatile market conditions. Traders should consider these factors when choosing an account type and trading strategy to ensure they align with their risk tolerance and trading preferences.

Commissions:

Commissions at Forex4you vary depending on the type of account and the products being traded. Specifically:

Sản phẩm giao dịch	Tài khoản Cent	Tài khoản Cent NDD	Tài khoản Classic	Tài khoản Pro STP
Forex	0$	0.1$/1 lot (1 lot = 1,000)	0$	8$/lot
Kim loại	0$	10$/lot	0$	10$/lot
Dầu thô	–	–	–	0.01%/giá trị giao dịch
Chỉ số	–	–	–	0.02%/giá trị giao dịch
Cổ phiếu	0.1%/giá trị giao dịch	0.05%/giá trị giao dịch	0.1%/giá trị giao dịch	0.05%/giá trị giao dịch
Tiền điện tử	–	–	–	0.3%/giá trị giao dịch

Spread

Forex4you provides traders with two options for spreads: fixed spreads are applied to Cent and Classic accounts, while floating spreads are applied to Cent NDD and Pro STP accounts.

With fixed spreads, you can easily calculate the cost of trades before executing them, which can make capital management more straightforward. However, fixed spreads are often higher compared to floating spreads. On the other hand, floating spreads tend to be lower, but during periods of high market volatility, they can widen significantly, leading to increased risk.

The choice between fixed and floating spreads depends on your trading style and strategy. It’s an important decision because spreads are a significant cost factor in trading, and they can have a substantial impact on your profitability in the forex market.

Below are average spreads (in pips) for some major forex pairs and gold on different account types at Forex4you:

Cặp forex	Tài khoản Cent (cố định)	Tài khoản Cent NDD (thả nổi)	Tài khoản Classic (cố định)	Tài khoản Pro STP (thả nổi)
EUR/USD	2.0	0.31	2.0	0.17
GBP/USD	3.0	0.88	3.0	0.39
USD/CHF	3.0	0.83	3.0	0.44
USD/JPY	2.0	0.03	2.0	0.02
USD/CAD	3.0	0.66	3.0	0.46
AUD/USD	3.0	0.6	3.0	0.3
NZD/USD	4.0	0.11	4.0	0.52
XAU/USD	100.0	39.4	100.0	24.4

The spread for gold is relatively high, suggesting that Forex4you accounts may not be the best fit for traders who prefer trading gold.

The spread on Pro STP accounts is quite reasonable and can compete well with many other brokers in the market. For Cent and Classic accounts, a 2 pip spread is a standard level, commonly applied by most Forex brokers to accounts with fixed spreads. However, with such a spread level, the long-term costs for traders can add up significantly, so it’s essential to consider this before trading on these account types.

Trading Platforms Supported on Forex4you

Currently, Forex4you offers support for its customers on two main trading platforms: the MT4 software (MetaTrader 4) and the Forex4you proprietary platform.

MT4 Software (MetaTrader 4):

MT4 is a well-known and widely used trading software in the forex industry.

Developed by MetaQuotes, it includes versions for desktop computers, mobile applications, and online web platforms.

MT4 boasts a simple, user-friendly interface, making it particularly suitable for novice traders.

Some fundamental features provided by the MT4 software include:

• Three types of price charts and nine timeframes.
• Over 50 technical indicators and tools to aid in chart analysis.
• Support for four types of pending orders: Buy Limit, Sell Limit, Buy Stop, and Sell Stop.
• The ability to use Expert Advisors (EAs) and test various trading strategies.
• Access to trading, signal services, and other forex-related services via the MetaQuotes-developed web platform at MQL5.com.
• Multilingual support, including Vietnamese.

The MT4 software can handle a wide range of trading needs, from basic to advanced, making it suitable for traders of all levels in the market.

Forex4you Platform:

This is Forex4you’s exclusive trading platform designed for its customers. Similar to MT4, the Forex4you platform comes in three different versions: Forex4you Desktop, Forex4you Mobile App, and Forex4you WebTrader.

Some trading features available on the Forex4you platform include:

• Eight types of price charts and ten timeframes.
• Nearly 100 technical indicators and chart analysis support tools.
• Slippage feature: Stop orders and setting slippage limits according to a trader’s strategy.
• Buy Stop and Sell Stop orders can be executed without experiencing slippage.
• A straightforward and user-friendly interface, suitable for new traders.
• It should be noted that the platform may not provide specific trading conditions for each product directly.

Overall, Forex4you offers two distinct trading platforms with various features to cater to traders with different preferences and skill levels. The MT4 platform is widely recognized and suitable for traders looking for a familiar and versatile trading environment, while the Forex4you platform offers an exclusive experience with unique features.

 

Chart Analysis Support Tools

In addition to the trading features and analytical tools integrated into the trading software, Forex4you provides traders with some powerful and, notably, free chart analysis support tools and news.

Economic Calendar

The economic calendar is a familiar tool for traders. It helps traders stay up-to-date with important economic news and events as quickly as possible. Furthermore, this tool assists traders in making more accurate trading decisions.

Since the trading software provided by Forex4you does not include an economic calendar, the forex broker offers traders the ability to access it directly on their website, eliminating the need to visit external websites for this information.

 

Trading Central

Trading Central offers intraday technical analysis, primarily on major currency pairs, using various technical indicators such as pivot points, support and resistance levels, RSI, and moving averages.

The analyses provided by Trading Central are certified by three Independent Research Providers: Investorside Research, Euro IRP, and Asia IRP. Additionally, Trading Central is licensed by the U.S. Securities and Exchange Commission (SEC). Therefore, the analyses on Trading Central are highly reliable, and traders can rely on them to adjust their trading strategies or make immediate decisions.

Major currency pairs that are analyzed on Trading Central include AUD/USD, EUR/USD, GBP/USD, USD/CAD, USD/CHF, and USD/JPY.

These chart analysis support tools enhance traders’ ability to make informed decisions, especially in response to rapidly changing market conditions and economic events.

 

Autochartist

Autochartist is a chart analysis tool and one of the most advanced trade signal providers available today. Autochartist has the ability to automatically identify price patterns and analyze price movements based on quality indicators such as RSI, MA, and it notifies traders of the best trading opportunities.

Tin Dow Jones

Dow Jones News provides traders with the latest news and reports on the currency markets. It offers commentary from experts on significant currency positions, evaluations from central banks of influential nations worldwide, and information on politics, legal matters, and more. This tool is an excellent resource for traders who rely on fundamental analysis.

Share4you Copy Trading Platform

The Share4you copy trading platform was launched in 2013, and after 7 years of operation, it has attracted 198,390 investors who utilize the copy trading service and 1,286 leaders. These leaders are successful trading experts in the market who share their trading strategies and signals with others, generating income through this sharing.

For traders who register accounts with Forex4you, they have the option to participate in this social trading network on any type of account. Traders can use Share4you’s services directly through their personal account management page on Forex4you’s website or by downloading the Share4you app to their mobile devices and linking it to their trading account.

When copying the trades of leaders, traders need to pay periodic trading fees and commissions for each trade. Commission fees can be calculated in USD per lot (ranging from $2 to $8) or as a percentage of the profit earned by the investor from copying (ranging from 5% to 50%), depending on each leader’s terms.

The list of leaders is displayed on the personal account management page in the Share4you section, with filtering options to match the trader’s preferences and goals, providing convenience in selecting the most suitable leaders.

 

Share4you Copy Trading Platform

The Share4you copy trading platform was launched in 2013, and after 7 years of operation, it has attracted 198,390 investors who utilize the copy trading service and 1,286 leaders. These leaders are successful trading experts in the market who share their trading strategies and signals with others, generating income through this sharing.

For traders who register accounts with Forex4you, they have the option to participate in this social trading network on any type of account. Traders can use Share4you’s services directly through their personal account management page on Forex4you’s website or by downloading the Share4you app to their mobile devices and linking it to their trading account.

When copying the trades of leaders, traders need to pay periodic trading fees and commissions for each trade. Commission fees can be calculated in USD per lot (ranging from $2 to $8) or as a percentage of the profit earned by the investor from copying (ranging from 5% to 50%), depending on each leader’s terms.

The list of leaders is displayed on the personal account management page in the Share4you section, with filtering options to match the trader’s preferences and goals, providing convenience in selecting the most suitable leaders.

If you have confidence in your trading strategies and have achieved success with them, you can register as a leader on the Share4you platform to have the opportunity to earn attractive additional income.

Deposit and Withdrawal Methods at Forex4you

Forex4you provides traders with several common deposit and withdrawal methods, including Visa/Mastercard, various e-wallets, and internet banking services from Vietnamese banks.

Deposits:

Although there is no minimum deposit requirement, different methods have varying minimum and maximum deposit amounts:

• Internet banking: VND 300,000 – VND 300,000,000
• Visa/Mastercard: $10 – $10,000
• Skrill, WebMoney: $1 – $10,000
• Neteller: $2 – $10,000
• vn: VND 2,000 – VND 1 billion

All deposit methods are free of charge, and processing times are immediate.

Withdrawals:

 

Promotion Programs, Forex Contests

Promotion Programs:

Currently, Forex4you offers two promotion programs: a deposit bonus program and a cashback program.

• 100% Deposit Bonus

Traders have the chance to receive a bonus ranging from 5% to 100% on the amount they deposit into their accounts. There is no limit on the deposit amount, but each account can only receive the bonus up to 5 times. The bonus percentage depends on the leverage ratio of the trading account; the higher the leverage, the lower the bonus.

• Cashback 50%

Profitable trades can receive cashback of up to 50% on spread and commission fees, with cashback amounts going up to $10 per lot. This program is not applicable to accounts participating in Forex4you’s deposit bonus programs.

Forex Contests:

Traders at Forex4you can participate in the monthly “Trading Hero” contest. All types of trading accounts are eligible for this contest. The winner is the trader with the highest profit percentage in the month. The top 30 traders with the highest profit percentages will receive cash prizes ranging from $20 to $400.

Customer Support Services at Forex4you

Forex4you has three offices in Vietnam where traders can visit for the best support.

In addition, the website provides a hotline phone number dedicated to Vietnamese traders. The live chat operates 24/5 to assist traders at any time, especially during the account registration and verification process.

Summary of Pros and Cons. Is Forex4you Trustworthy?

Pros:

• • Diverse product and trading account options
  • Low minimum deposit
  • High leverage ratios
  • Low spreads on Cent NDD and Pro STP accounts
  • Competitive commission fees
  • Effective copy trading platform
  • Various deposit and withdrawal methods with fast processing
  • Attractive promotion programs
  • Good customer support with dedicated and helpful staff

  Cons:

  • Not regulated by a reputable supervisory authority
  • Registration process may encounter errors
  • Forex4you’s platform has some limitations
  • Relatively high fixed spreads

  With the detailed evaluations above, it is hoped that you have found the most satisfactory answers to your concerns. Despite legal limitations and existing drawbacks, Cent accounts, especially Cent NDD accounts at Forex4you, are suitable for small traders with limited capital, providing an opportunity to experience the real market instead of trading with a demo account.

  You can also refer to the list of reputable and top forex brokers available today to have more options. Do not rush into a decision, as choosing a broker significantly impacts your success or failure in the often challenging forex market.