WikiFX Review: Is Forex4you a reliable broker?

In this article

WikiFX provides inquiry services in the forex field.

WikiFX evaluates the reliability of Forex4you based on the facts.

What is WikiFX？

To explore whether Forex4you is a scam or not, we evaluated this broker from different aspects, such as regulatory status, exposure, etc.

1. Evaluate the reliability of Forex4you based on its general information and regulatory status

To understand Forex4you better, we explore Forex4you by analyzing three main perspectives:

A. General Info of Forex4you

B. Regulatory Status

A. General Info of Forex4you

Forex4yous general info has been shown below:

About Forex4you

Launched in 2007, Forex4you is customer- focused online trading platform that is reliable and easy to use. Then in 2013, the company introduced their social trading service, Shared4you to enable traders who have no time or experience to copy the trades of seasoned traders and learn from their trading strategies.

For over a decade, they have served more than 2 million trading accounts and reached the trading volume of more than US$68billion.

Their competitive spreads, high leverage, and near- instant trade execution speeds, have led to them being awarded the “Best Forex Broker, Asia 2021” by International Investor Magazine and “Best Trading Condition 2021” by FxDailyInfo.com. They also won the “Best Affiliate Partnership Program” by International Investor Magazine for their attractive partner program and to date, they have paid out over US$26million in commisions to their Partners.

Market Instruments

Forex4you offer the investors flexibility to choose from more than 150 financial assets, including Forex instruments, indices commodities, stocks, cryptocurrencies and precious mentals.

Minimum deposits

To meet customers need and trading experience of difference traders, Forex4you offer different types of accounts, namely Cent, Cent Classic, Cent NDD, and Pro STP Accounts. The minimum deposit for all four accounts is low as $0, which is a good option for most regular traders to get started.

Leverage

All four types of account have no minimum deposit limits and are available in levarage levels from 1: 100 to 1: 1000, giving traders flexibility to choose according to their needs. Please note that while high levarage maximizes returns, it also maximizes risk, so the investors should use leverage with caution.

Spreads & Commissions

The minimum spread for Cent Accounts starts from 2 pips, and there is no commission. For Classic Accounts, spreads start at 2 pips, and no commissions are payable. Spreads on Cent NDD accounts start at 0.1 pips, and commissions are $10 per lot. Pro STP Accounts have spread from 0.1 pips with a commission of $8 per lot.

Trading Platform

Forex4you offers traders the market-leading and highly acclaimed MT4 trading platform, the most liquid forex trading software with excellent trading & market analysis tools and features that help traders develop their own trading strategies and give them great trading experience. Additionally, traders can also trade using the Forex4you desktop trading platform, the Forex4you web trading platform, and the Forex4you mobile app.

Deposit and Withdrawal

Traders can deposit and withdraw their Forex4you accounts via NETELLER, Skrill, WebMoney, VISA, MasterCard. No commission is charged for withdrawals. Traders who withdraw via VISA/MASTERCARD credit card pay need 2.5 EUR/USD + 2.5% service fee, while those who withdraw via NETELLER pay 2% service fee. Withdrawals via Skrill are subject to a 1% service fee, and withdrawals via WebMoney are subject to a 0.5% of service fee.

Customer Support

Customer service support offered by Forex4you can be reached through quite a few channels, including email, telephone, as well as live chat support.

B. Regulatory Status

What is a Legitimate License？

l The legitimate license is the business license issued by the financial regulatory institution of each country/region.

l Holding a license means that the broker is recognized and regulated by the regulatory authority, therefore your money is under the protection to some extent.

l Whether a forex brokerage firm holds a legitimate license or not is one of the important factors to evaluate the reliability of forex brokers.

l The content of the regulation and the difficulty of obtaining a license vary with the country and agency issuing the license.

The legitimate license of Forex4you

Forex4you is a regulated broker. The Virgin IslandsFSC regulatory with license number: SIBA/L/12/1027 is an offshore regulatory

(source: WikiFX）

2. The feedback from Twitter

To figure out whether Forex4you is a scam or not, we did a survey about this broker on Twitter.

Reviews on Twitter:

l Forex4you has different Twitter accounts for different regions

l It is hard to find negative feedback related to this broker on Twitter.

3. Exposure related to Forex4you on WikiFX

On WikiFX, the Exposure consists of feedback from traders. A bad track record of brokers can be checked via Exposure. WikiFXs Exposure function helps you get feedback from other traders and remind you of the risks before it starts.

4. Special survey about Forex4you from WikiFX

A. Scoring Criteria

WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Forex4you has been given by WikiFX a decent rating of 5.07/10.

5. Conclusion:

It is no doubt that Forex4you is a solid and regulated broker. However, 5.07/10 is not considered as high score, we advise you to be aware of the potential risks. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en) or you can download the WikiFX APP to find the most trusted broker for yourself. If you have any problems with this broker, please do not hesitate to contact WikiFX. The global customer service of WikiFX is +234-706 777 7762 on WhatsApp. Or you can call +65-31290538. We are willing and ready to help you out.