Question 1

Is E-Global Trade & Finance Group Inc (Forex4you) beginner-friendly?

FXScope Intelligence Lab · Accepted Answer

E-Global Trade & Finance Group Inc, operating as Forex4you, offers several features that make it moderately suitable for beginners. The broker provides a minimum deposit requirement of just $1, making it accessible for new traders. It offers a free demo account for practice trading and provides 24/7 customer service support in multiple languages including English, Chinese, Malay, Russian, Thai, and Vietnamese. The platform offers 19 different trading options including MetaTrader 4, which is beginner-friendly, and provides copy trading through Share4you service, allowing new traders to follow experienced traders' strategies. However, there are significant concerns about the company's regulatory status and numerous user complaints about withdrawal issues that make it potentially risky for beginners who may not have experience identifying red flags in broker operations.

Question 2

Is E-Global regulated and safe for traders?

FXScope Intelligence Lab · Accepted Answer

E-Global Trade & Finance Group Inc operates under regulatory scrutiny that raises concerns. The company is registered in the British Virgin Islands (registration no: 1384287) and claims to be authorized and regulated by the FSC under the Securities and Investment Business Act, 2010 with License#: SIBA/L/12/1027. However, multiple sources indicate that this regulatory status is considered weak, with the British Virgin Islands being viewed as a low-trust jurisdiction. Independent reviews have flagged the company as potentially fraudulent, with users reporting withdrawal difficulties and describing it as a 'scammer.' While Forex4you claims annual audits by KPMG (BVI) Limited, the overall regulatory framework appears insufficient for investor protection. The company's trustworthiness rating is reported as only 2 out of 10, indicating significant safety concerns for potential traders.

Question 3

What are the minimum deposit and trading costs at Forex4you?

FXScope Intelligence Lab · Accepted Answer

Forex4you offers a very low minimum deposit requirement of just $1, making it accessible to traders with limited capital. The broker claims competitive spreads, with major currency pairs like EUR/USD, GBP/USD, and USD/JPY offered at 0.1 pips spread. However, independent reviews indicate that actual trading costs may be higher than advertised, with some users reporting high spreads and commissions that can significantly impact profitability. The maximum leverage offered is up to 1000:1, which while attractive to some traders, also increases risk substantially. The broker does not charge rollover fees or margin interest, but withdrawal fees depend on the payment system used. Given the mixed reports on actual trading costs, traders should verify the real-time spreads and fees before committing significant capital.

Question 4

What trading platforms and tools does Forex4you offer?

FXScope Intelligence Lab · Accepted Answer

Forex4you provides access to 19 different trading platforms, primarily focusing on MetaTrader 4 (MT4) which is available across multiple devices including Android, iOS, Linux, MAC, and web browsers. The broker also offers proprietary platforms including Forex4you WebTrader and Forex4you Mobile Trading Platform. In terms of trading tools, the platform supports one-click trading, trade-off charts, email and mobile alerts, various order types including stop orders, market orders, trailing stops, OCO (One-Cancels-Other) orders, and limit orders. The company developed its own MarketPlace technology in 2016, described as a liquidity aggregator and order execution software that claims to provide ultra-fast, stable, and secure execution with tight spreads. Additionally, Forex4you offers copy trading through its Share4you service and access to 5 asset classes including cryptocurrencies.

Question 5

How are deposits and withdrawals handled at E-Global/Forex4you?

FXScope Intelligence Lab · Accepted Answer

According to official information, Forex4you accepts various payment methods with withdrawal fees depending on the specific payment system used. The broker claims to provide secure fund handling and offers multiple payment options for both deposits and withdrawals. However, independent reviews and user complaints present a concerning picture regarding fund accessibility. Multiple users have reported significant difficulties with withdrawals, including requests that remain in pending states for extended periods. Some users have complained about being asked to make additional deposits before withdrawals can be processed, which is a common red flag in fraudulent operations. The lack of specific details about cryptocurrency options and the mixed user experiences regarding fund withdrawals suggest potential risks. Traders should be particularly cautious and ensure they fully understand the withdrawal terms and conditions before depositing funds.

Question 6

What is the customer service quality at Forex4you?

FXScope Intelligence Lab · Accepted Answer

Forex4you claims to offer comprehensive customer support with 24/7 availability through multiple channels including newsletter, callback requests, phone, live chat, and email. The broker states that email response times are immediate, and support is available in 6 languages: Chinese, English, Malay, Russian, Thai, and Vietnamese. The company also provides personal account managers for clients. However, user reviews paint a more complex picture of customer service quality. While some users report positive experiences with responsive support, others have expressed dissatisfaction with the lack of consistent 24/7 support availability and the absence of live chat options. The mixed nature of these reviews suggests inconsistent service quality, which could be problematic for traders who require reliable support during critical trading periods or when facing urgent issues with their accounts or fund withdrawals.

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