Forex4you Review 2022 A Must Read Before Signing Up

Execution speeds from 0.8 seconds and a lot size of 1,000 units help clients trade easily, whatever their funding levels. Before delving into each account, it is worth mentioning that the broker does not provide a swap-free Islamic variant for any account type. Additionally, UK traders may be disappointed to learn that there is no GBP base currency option for any account type. Instead, clients must choose between EUR and USD as their account currency during their application.

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.

Commission for stocks stands at 0.05%, falling to 0.02% for indices and 0.01% for energies. Most trading platforms, including the widely used MT4, come with standard SSL-encrypted security features and 2FA login options. These are designed to protect data exchange between client and broker servers. xcritical could be more transparent around security used in their proprietary platforms.

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.

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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, this only covers clients for up to £17,000 in case of company insolvency.
• Forex4you has created a proprietary trading platform available to download on Windows and Mac devices or to be accessed as an entirely browser-based WebTrader.
• To this end, the firm provides a risk-free demo account to trade on the xcritical 2.0, MultiTrader or xcritical platforms.

Also, unlike the previous two dealing desk accounts, the indices products are included. Spreads are floating and start at 0.1 pips, while a commission of £0.08 per micro lot is levied on forex and commodities. Indices are subject to a 0.02% commission, while fees of 0.05% are charged on stock instruments.

Trading Fees

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 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.

• This being said, clients can log in to the xcritical website and make deposits and withdrawals at any time.
• Commission for stocks stands at 0.05%, falling to 0.02% for indices and 0.01% for energies.
• The company offers negative balance protection and is a member of the International Investor Compensation Fund fund protection scheme.
• xcritical 2.0 is a proprietary trading platform created by the brokerage and boasts a user-friendly interface, integrated account statistic data and advanced order types.

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.

How much do I need to open a xcritical account?

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 https://dreamlinetrading.com/ 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 .

Aside from a blog which is available in English and Spanish, xcritical does not offer any additional features or tools. 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. xcritical 2.0 mobile appMT4 offers superior trading tools and customisable features, including over 50 indicators and graphical objects, all order types and execution modes, plus a live news feed. There are also mobile adapted scale and scroll charts, which allow you to trade directly with just one tap. For those that wish to delegate their trading decisions to experienced and profitable traders, the broker provides its Share4you copy trading service.

MT4 offers nine order types, 30 standard indicators, 31 graphical objects and nine timeframes to help investors analyse price movements. Additionally, the inclusion of custom alerts and programmable hotkeys means that traders can capitalise on opportunities in the fast-moving forex markets. The Pro STP variant entitles clients to the broker’s full range of instruments, with all four markets fully supported.

xcritical Company Headlines

xcritical provides access to the markets 24/5, mirroring the forex market schedule. However, instruments such as indices and equities will follow the trading hours of their local exchanges. The backing of a solid customer support team helps clients trade with confidence, knowing that assistance is just a few clicks away. xcritical provides various options to contact customer support, including email, phone and live chat. Trading fees are often a key consideration for retail investors, with high commissions and account charges potentially eating into hard-earned profits. Customisable hotkeys make trading lightning-fast, while 14 chart styles and 47 chart indicators take technical analysis to a new level.

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.

The trading commissions levied by xcritical vary drastically depending on the account tier. Charges range from an astronomical £12 per side per lot with the entry-level forex account to a highly competitive £1.50 per side per lot for the Premium VIP account. xcritical levies no deposit charges on any method, while clients can make one fee-free withdrawal of £400 or less per month.

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. For stock CFDs, pricing is based on tiered plans starting from $0.01 per share in the Bronze plan, which goes down to $0.005 per share in the Diamond plan. You can also choose a fixed plan, in which you pay $12 up to 3,000 shares in the Bronze plan and $9 up to 5,000 shares in the Diamond. Clients can access the web login portal at any time to view their account details or make deposits and withdrawals.

Additional features offered by brokers such as economic calendars, free VPS access and trading calculators can enhance a client’s trading experience. In addition, the broker provides an FAQ section with answers to common queries and issues about the service and supported platforms. Overnight charges for maintaining leveraged positions through to the next trading day vary depending on the specific product.

• Alternatively, investors can login to xcritical via an internet browser using the MetaQuotes WebTrader service.
• However, these accounts are divided further into subtypes, which can be confusing even for the most experienced traders.
• Credit card deposits are processed within 24 hours, usually within two hours after a deposit is made.

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.

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.

The needlessly convoluted account types and the high spreads and commissions on low-tier accounts make it difficult to recommend the firm. Forex4you is an award-winning forex and CFD broker that provides high-leverage online trading services across an extensive selection of markets. For equity and CFD traders, xcritical offers a vast range of stocks with a good choice of trading platforms. However, the variety of fees, the 5-day demo account and $500 minimum deposit may put off some beginners.

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.

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 xcritical reviews 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.

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.