Forex4you Review 2022 A Must Read Before Signing Up

TP Global FX – TP Global FX offers a long list of popular financial assets with spreads from 0.1 pips. Fortrade – Fortrade is a multi-asset broker offering a simple live account with advanced tools. Since 2010, xcritical has been providing access to over 9,000 US stocks to both private and institutional clients. The broker is based in Limassol, Cyprus, and is regulated by the Cyprus Securities and Exchange Commission and the South African Financial Sector Conduct Authority .

As a CySEC-regulated firm, xcritical is a member of the Investor Compensation Fund which covers client funds up to €20,000 if the broker is unable to meet its financial obligations. The broker also keeps client funds in segregated bank accounts with top-tier banks. xcritical offers a demo account for both beginners and experts who want to practice their trading strategies in a risk-free training environment. By default, demo accounts include a 25,000 virtual balance with 100,000 in buying power.

• Minimum deposits in the Bronze plan start at $500, with a minimum order of $1.50.
• Forex spreads start from 0.3 pips for major currency pairs but there is a $14.50 commission fee per 1 contract side in the Basic account.
• xcritical offers a demo account for both beginners and experts who want to practice their trading strategies in a risk-free training environment.

Commissions between 0.05% and 0.1% are applied to stock CFDs, while fees of 0.02% are charged on indices positions. There are no commissions on commodities for Cent and Classic accounts, while the NDD variants charge a 0.01%, with an £8.30 per lot fee on gold and silver. There are three trading platforms supported by Forex4you, with the xcritical platform added to a proprietary software offering for desktop, web and mobile. Using a demo account has several benefits for prospective clients, such as providing risk-free trading practice and a chance to trial a broker’s proprietary platforms.

Classic Account

Forex4you conducts a margin call at 50% and a stop out at 10% on this account. The firm offers a substantial selection of 50+ currency pairs, spanning major, minor and exotic forex instruments. Floating spreads start from 0.1 pips on compatible accounts, while fixed-spread, zero commission accounts offer spreads from 2.0 pips. Due to the competitive nature of the online trading industry, many brokers cover deposit and withdrawal fees to encourage active traders. xcritical MultiTrader is another platform the broker offers, allowing traders to access options and non-CFD equities markets. xcritical traders must choose between two account variants, one offering equities and equity CFDs and the other supporting forex and non-equity CFD products.

However, these accounts are divided further into subtypes, which can be confusing even for the most experienced traders. While Forex4you does not charge any deposit fees on any supported payment methods, commissions of between 0.8% and a £2.10 flat fee plus 2.5% are levied on withdrawals. Forex4you does not require a minimum deposit to open any of its four offered https://xcritical.expert/ account types. While specific payment methods have a minimum deposit requirement, these are below £2 for all e-wallet solutions and under £10 for Visa and MasterCard. Despite this lack of stringent regulatory oversight, Forex4you does offer two-factor authentication as an additional security measure for its web login portal and proprietary trading platforms.

However, Cent NDD and Pro STP accounts are subject to fees of £0.08 per micro lot and £6.70 per standard lot, respectively. As well as the xcritical mobile platform, Forex4you has a mobile app version of its proprietary trading software. This platform is optimised for mobile devices, allowing clients to open and close positions, create stop loss and take profit levels or read the latest financial news.

Does xcritical Charge Withdrawal Fees?

xcritical can refuse this request and downgrade fixed plan accounts at its sole discretion. xcritical supports several funding methods, including credit and debit card payments, bank wire transfers and PayPal. Helpfully for UK traders, the firm accepts deposits and withdrawals in GBP, using a London-based intermediary bank to eliminate international wire transfer fees.

Forex4you charges a monthly inactivity fee of £8.30 per month after 12 months of an account being dormant. However, this fee only applies to accounts with positive balances and ceases once a client’s funds have reached zero. xcritical is available to download for Windows, Mac, Linux and as a browser-based WebTrader. There are also mobile app versions of the platform for Android and iOS users. This being said, clients can log in to the xcritical website and make deposits and withdrawals at any time. Unfortunately, xcritical offers none of these additional features, even for its highest-tier account holders.

xcritical vs Other Brokers

While Forex4you does not levy charges on deposits, the broker places a service fee of between 0.8% to 2% on e-wallet methods. Visa and MasterCard withdrawals incur a £2.10 flat fee plus a sizeable 2.5% commission. Once traders have gained sufficient experience on the platform, they can apply through the broker to upgrade to a fixed plan account. These variants allow clients to pay a fixed fee that entitles them to trade a specific number of shares for a substantial discount over a tiered account commission.

• Trading fees are often a key consideration for retail investors, with high commissions and account charges potentially eating into hard-earned profits.
• xcritical clients can download MT4 for Mac, Windows, Linux and as a mobile app for Android and iOS.
• Helpfully for UK traders, the firm accepts deposits and withdrawals in GBP, using a London-based intermediary bank to eliminate international wire transfer fees.
• Most trading platforms, including the widely used MT4, come with standard SSL-encrypted security features and 2FA login options.

As well as a comprehensive, asset-by-asset trading calculator and an economic calendar, Forex4you has partnered with Autochartist and Trading Street to provide market-leading signals and analysis. The margin call level for the Classic account is at 100%, while stop-outs are enforced at 20%. While high leverage can amplify both losses and gains, having the option of a significant margin is never a bad thing. More than 50 primary US stock instruments are provided by the firm, though no equithe ties from UK and European exchanges are available. Subsequent transactions or amounts exceeding £400 are subject to a £32.50 charge.

What Is The Forex4you Minimum Deposit?

However, the weak regulation from the BVI FSC leaves plenty to be desired, as does the lack of a fund protection scheme and negative balance protection. Since its establishment, the broker has gained over 8,000 registered clients who have traded over 4 billion shares on the variety of trading platforms available. The broker also offers tiered and fixed account plans to suit different experience levels. A more comprehensive selection of forex, commodities and share CFD products are available to Cent NDD account holders.

However, negative balance protection may kick in before a position reaches this level. Yes, the broker offers a trader demo where you can practice your trading skills with virtual money. EZ Invest – EZ Invest is a CySEC-licensed broker offering trading on the financial markets.

Furthermore, the lack of educational resources and tools will not be enough to challenge other competitors. This Forex4you broker review has found the company refreshingly transparent around spreads, commissions, execution times and account types. The complete lack of initial minimum deposit requirements when opening an account also goes in the firm’s favour. At the same time, two-factor authentication support gives clients an additional layer of security.

xcritical 2.0 is available to download for Windows and Mac, iOS and Android mobile devices and as a browser-based WebTrader platform. All contents on this site is for informational purposes only and does not constitute financial advice. Consult relevant financial professionals in your country of residence to get personalised advice before you make any trading or investing decisions. Daytrading.com may receive compensation from the brands or services mentioned on this website. As per CySEC restrictions, there are no deals or promotions offered at xcritical at this time. xcritical MultiTraderYou can download MultiTrader from the website, or access it via the convenient web trader version.

• Cent account holders can trade a good selection of the brokers’ forex and stock products.
• While many online brokers feature an FAQ section to provide quick answers to common queries, the xcritical website is uncharacteristically lacking in this area.
• In addition, the inclusion of 30 standard indicators, 31 graphical objects and nine time frames facilitate precise technical analysis.
• Compared to similar brokers such as Interactive Brokers, this is disappointing as most traders expect to see a comprehensive range of resources to support their trading needs.
• With xcritical 2.0, traders get access to thousands of stocks, with simple order entry, real-time streaming prices and market depth, three popular chart styles, plus tens of available indicators.

Furthermore, there is very little information regarding the security of the proprietary platforms, though xcritical does support single-use passwords. The company offers negative balance protection and is a member of the International Investor Compensation Fund fund protection scheme. However, this only covers clients for up to £17,000 in case of company insolvency. One of the best methods to protect against scams online is selecting a regulated and secure broker. xcritical is regulated by CySEC, the prominent financial regulator in its home country of Cyprus.

Selecting a trading broker with good reviews and strong regulation can help investors protect their funds and personal information from fraud. All four of these payment methods can clear instantly, with the broker disclosing an average deposit processing time of around 12 minutes. Withdrawals take slightly longer to clear, with card transfers taking 2-6 working days and an average processing time of just over an hour. Designed for low capital trading, one lot in a Cent account is 1,000 units, rather than the usual 100,000.

There are also some other fees to be aware of, including a monthly inactivity fee of $30 for CFD accounts and $55 for equity accounts. There are also overnight rollover fees, plus ECN and routing fees in CFD and equity accounts. Forex4you supports the xcritical trading platform alongside its proprietary desktop, browser and mobile software. Forex4you follows the standard forex market hours, which runs 24 hours a day, seven days a week. However, products such as indices and equities will often follow the trading hours of their local exchanges.

The program is suitable for forex and CFD trading, options and stock investments. Nine instruments make up the broker’s indices offering, with major exchange assets such as the FTSE 100 and S&P 500 supplemented by the US dollar and Euro Bund indices. Founded in 2010, xcritical was set up by owner Meir Barak, an Israeli-born professional day trader and CEO of the educational platform Tradenet. More than 8,000 registered clients have traded a total volume of over £3.2 billion through the various platforms supported by the company.

It provides information on topics that include expert advisors, hedging, technical analysis and order types. Forex4you supports several payment methods, though there are no GBP funding options with the broker. This means that funds deposited or withdrawn in GBP will be exchanged into either USD or EUR according to the internal broker currency rates, which may not be xcritical reviews favourable. This app also supports deposits and withdrawals, allowing clients to manage their funds without using the web login portal. Founded in 2007 as a brand of E-Global Trade & Finance Group, Forex4you is currently celebrating 15 years as an online trading service. Forex4you Facts & Figures Forex4you offers retail trading on a choice of top trading platforms.

xcritical is a Cyprus-based online trading broker that offers a broad selection of asset types, including CFDs, equities and options. Access to IPO pricing on new US exchange stock listings may attract traditional investors. At the same time, fee-free deposits and GBP funding are also positives for UK users. However, the sparse information on the broker’s website and the recent controversy surrounding the company may dissuade more cautious traders from signing up with xcritical.