» Choice of web-based or downloaded trade platform
» Excellent customer support, including personal account manager
» Super mini account is great for beginners to trade with least amount of risk
» Registration and deposit process are short and simple
» Spot commodities, trade crude oil and gold
» Cashback promotions for new clients, get up to $1,000
» Do not allow scalping trades
» Vague about withdrawing profits
» Trading on this platform is not intuitive
» No mt4 feed
ForexYard Review rate: 5.00
Special Offer for Connection 2 Forex Users
Open an account with Forexyard and get a 100% cashback on your deposits, worth up to $300.
With its launch in Cyprus in 2004, ForexYard continues to marvel traders with its well-deserved reputation as a great retail forex broker. Traders rejoice with their highly competitive fixed spreads. Trading diversity with ForexYard can be experimented with 27 different currency pairs, along with three commodity choices, namely, oil, silver and gold, as well as stock indices.
Customer support is unbeatable with very courteous and impeccable English-speaking staff to help traders 24*7. You may contact them via live chat, telephone, or email. Email response normally takes a day. The option to use a downloadable or a web-based platform is another exclusive plus. So, you may either deal online or use it at your convenience on your system. The choice between an online or a system platform, flexible marginal trading and outstanding customer support, are some features of ForexYard that are often missing with other brokers.
Suitable for both beginners and experienced brokers, the ForexYard’s Official Website is easy to navigate and understand. Start off anytime with a practice Demo account or begin with a Live account for as less as $100. Accounts below $1000 are super mini account, or you can opt for a standard account. Commodity trading is available with Standard accounts only. For immediate live trading, you can use credit card deposits, as processing of wire transfers normally takes up to 3 days. You may even fund your account with Western Union Money transfers.
One small catch is that there is no withdrawal fee for Standard accounts; however $25 is deducted as the withdrawal fee from smaller trade account holders. A form needs to be filled and faxed, together with an evidence of the account holder as well as the address proof. Withdrawals are processed through the same account that you use to fund your trading account, be it through a wire transfer or a credit card.
Questions are raised on the maximum processing time for withdrawals, as the ForexYard’s website mentions “withdrawal process time will take no less than 3 days.” Also, there is high strictness about the consent for scalping trades.
The help section of ForexYard along with the informative and simple tutorials sent by them is an ultimate fix for beginners to get started. They do not provide eSignal charts and feed for the Metatrader4, however the trading is fine with charts and proprietary platform made available by them for their swing trading or intraday. All normal order types are on offer, which even includes trailing stops.
The only vague thing about ForexYard is their non-transparency about the terms and conditions that relates to profit withdrawal, as well as their power to withhold profits. It is also imperative for you to know that even though ForexYard is not regulated by NFA or any other organization, it is still a reliable broker.
If you plan to join in ForexYard right now, you are in for luck. Credit of $300 is on offer for live trading super mini accounts, and $1000 for the standard accounts, until you deposit a minimum if $1000.
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