Forex4You remains one of the most popular brokerage companies for a broad range of services that it offers to its clients. Moreover, traders can choose from a variety of trading accounts and opt for the most suitable one. Our experts have done deep research to provide you with an answer to the question about whether this company is suitable for day trading or not.
Spreads at Forex4You: Are They Competitive?
Many traders start trading with this brokerage company by picking its cent account. Spreads here start at 2 pips, which is not the best offer that one can find in this industry nowadays. Some brokerage firms offer spreads of 1.5 pips or even lower values.
However, the Cent account is not the only option you have when you deal with the Forex4You brokerage firm. There are also three more account types that may attract your attention. For instance, Cent NDD and Classic offer $0.10 cents per lot. Spreads start at 2 pips on this account type. Classic offers the same spreads with a minimum deposit that starts at $0.
If you are going to trade higher volumes, you can focus on the Pro STP account type. Here you will be offered 0 spreads and a $8 per lot commission.
Forex4You Spreads Comparison
The Forex4You spread looks competitive, but is far from being the best offer in this niche. For instance, Exness, for instance, offers spreads of 1 pip only, and Roboforex commissions per trade start at 1.4 pips. Therefore, the above-mentioned brokers look more attractive when it comes to daytrading.
However, if you look at the leverage to make such a comparison more reasonable and detailed, Forex4You looks more competitive here as the company offers up to 1:1000 maximum leverage, which is a very attractive offer as compared to many of its rivals.
Even if spreads at Forex4You may seem less attractive as compared to its closest competitors, other features of this company allow it to remain among the leaders of the industry. Forex4You offers an opportunity to start trading from just $1, which is one of the best offers in the niche. Other competitors allow you to start with at least $10. The range of financial instruments that you can trade on this platform is also impressive. Forex4You allows you to choose between various Forex currency pairs, commodities, stocks, indices, and even cryptocurrencies.
While Forex4You may seem less attractive to day traders as compared to some other leaders in this industry, the company offers some additional features that allow it to compete with the giants of this niche. If you choose this brokerage firm, you will get access to a lot of financial instruments and research tools that will help you make reasonable decisions when trading in financial markets. Moreover, with Forex4You, you get access to some passive income features.