“Your Gain is Our Goal” is YouTradeFX’s slogan. Catchy, yes? That gets you on your heels, but you wonder whether you can trust it? Is it real or just a scam? Well, YouTradeFX has made a solid name for itself in the Forex Market place. Only in operation since 2009, it is one of the newer brokers around that is helping traders to deal in currencies via the Foreign Exchange Market. Essential? I think so! It is in London. The Financial Services Commission (FSC), Republic of Mauritius regulates it. There is also a branch in Australia, the Australian Securities and Investment Commission (ASIC) that controls this broker. If I were, to sum up, this broker in four words, Breathe of Fresh Air.
Features of YouTradeFX
If you are like me, then the first thing you look into is the broker’s website. Its website impressed me; it’s modern and comfortable to use. Unlike some of the websites, you experience no difficulties finding information in this one. What caught my sight is how easy it is to contact them. The website is available in 12 languages, French, English, Portuguese, Turkish, Arabic, Spanish, Russian, German, Italian, Vietnamese, Dutch and Japanese.
This broker has several platforms;
- MetaTrader 4 – provides the essential supreme trading flexibility. Its advantage is the fact that it is multilingual, making it accessible and practical worldwide.
- MetaTrader 4 T terminal – allows traders to use market orders, stop orders, pending and the Trailing Stop. It is possible because the platform supports three types of operation execution.
- Sirix Web Trader – it is web based and easy to use. It maintains full market functionality. You can access without any download. It also provides 24/7 access.
- Mirror Trader – this platform helps you trade with complete awareness because it includes marketplace charts, chart studies, live signals, and sentiments. It’s a Forex robot.
- Mobile – it is a mobile platform with a featured trading suite that allows you to trade from anywhere using a smartphone or tablet.
This broker offers traders four different account types:
- Demo Account: It is available for free to anyone who registers with YouTradeFX. It’s just like a real account, to help the new user get a feel for what they should expect. It allows you to play around with $50,000 fake money and receive advice from the experts.
- Standard Account: It offers the lowest fixed spreads, leverage of 1: 300 and access to professional help and analysis from the broker. You can open this account with between $2,000 and $10,000.
- Premium Account: You can open this account with between $10,000 and $100,000. It has unique features and access to VIP materials from the broker. It gives you everything that ensures a live account trading. Its leverage is 1:200. It has fixed spreads as low as two making it a high-roller account.
- ECN Account: ECN stands for, Electronic Communication Network. It is among the most popular accounts on Forex broker. It has customizable features. Requires $1,000 or more to open this account. The leverage is 1:300 which makes it maximum.
There is also an option for Muslims. Islamic law has strict banking and interest restriction. This account is therefore particular to cater for them.
They recently introduced Guardian Angel feature, an automated guidance system that works in real time to provide feedback about trading habits and how they relate to the live market. It offers advice to support the customer’s investment style and preferences. It also has an eBook guide that provides some basic terms on Forex markets and how to execute trades.
This broker allows you to make deposits to all accounts via bank wires, web money, credit and debit cards, and other online payment programs. If a client wants to withdraw from their live account, a withdraw form is sent to you through email or fax for you to fill. There is an automatic system that permits you to follow the process with email confirmations.
Traders can contact a representative via email, phone, and live chat. All these communication methods are made easy on their website. I love the fact that they are also available on Facebook and Twitter. There are also written tutorials, FAQS, video, and other documentation. Trading takes place for five days a week, 24 hours per day. Some of its unique selling points include;
- On larger accounts, deposit bonus is 50%
- $100 free sign up bonus
- Mobile trading options
- Extending past currency, stocks, and CFDs
- Phone trading and social network available.
Pros and Cons of YouTraderFX
- It has a streamlined interface for easy use.
- It has no requotes
- It’s trading signals are real
- News feeds, and charting package are always available
- It gives mobile alerts
- It has four different account types
- Trading is one-click
- It has other trading options available besides currency pairs
- Leverage is up to 1: 500
- Choice of platforms
- It has no interest on margin
- It has no guaranteed stop loss
- On live accounts, daily signals are only available over $5,000
- No bonuses or promotions
YouTradeFX requires a lot of paperwork because it is well regulated. Filling all the paperwork can be a pain, but better safe than sorry. Instead of having the broker shut down and your funds frozen, it’s better to make sure you do all the paperwork.
It will give you the flexibility you need to succeed in the trading market. It is the whole package. It seems to offer traders many options compared to other competitors. It makes the trader comfortable and gives them full access to the best tools available. Overall, it appears to be a solid broker for any trader irrespective of his/her level. Big time traders will also feel at home.
It has also made sure not to bypass any regulatory establishment. It boosts oversight from groups residing in Mauritius, London, and Australia. It has made sure to ensure unquestionable credibility, ethics, and professionalism. Because of their clear focus on success, I would recommend it to all levels of forex traders.