Forex4Money Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Forex4Money Review.
Forex4Money Review
Forex4Money has three types of live trading accounts, plus a swap-free Islamic account. There is also a demo account for testing purposes. Strangely, the demo account does not come with free virtual money and in practice the tradig platform cannot be properly tested.
The broker’s tradable asset portfolio includes forex, CFDs on commodities, indices and stocks and binary options.
The Company. Security of Funds
Company Country Regulation
Forex International Gain Ltd Vanuatu VFSC
Forex4Money is owned by the company Forex International Gain Ltd – registered in the offshore zone Vanuatu and regulated by the local Vanuatu Financial Services Commission (VFSC).
We have always maintained that dealing with offshore brokers could be riskier – some of them are nothing but a scam whose only purpose is to take its clients’ money and disappear. Naturally, not all of them are this, but overall the offshore regulators do not provide very robust oversight and do not have very strict requirements, thus providing lower level of client protection.
Generally, it is advisable that traders choose properly regulated forex brokers, preferably by UK’s FCA or the Australian Securities and Investment Commission (ASIC). Both watchdogs are known for their strict requirements and tight oversight.
Trading platform
Forex4Money offers its own web-based trading platform. It appears to be very basic, with only a few options. The price charts and the economic calendar are provided by Investing.com.
Promotions
Forex4Money offers promotions such as welcome bonus and several types of cashback and rebate bonuses. They are subject to additional terms and conditions.
Methods of payment
Forex4Money accepts payments through credit and debit cards and the online payment systems PayPal, Asia Pay and PayDollar.
Judging by the default settings and the user comments, Forex4Money is mostly targeting the Indian clients. We are not sure what the legal requirements for offering forex trading services in India, but we must nevertheless note once more that the broker is offshore. Besides, its trading conditions are not particularly remarkable, with the spreads being wider than the industry average. The trading platform does not appear to be very useful either.
The Broker is not a safe forex broker, Instead you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Forex4Money Review Conclusion
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