Editor’s Verdict
Overview
Review
Headquarters | United Kingdom |
|---|---|
Regulators | ASIC, FSC Mauritius |
Year Established | 2008 |
Execution Type(s) | Market Maker |
Minimum Deposit | $3000 |
Trading Platform(s) | MetaTrader 4, Sirix, Web-based |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
*** YoutradeFX is no longer functioning as a forex broker. We advise all interested traders to find a more reputable broker. Check out our top recommended brokers list here.
YoutradeFX, founded in 2008 and headquartered in London, UK, is an internet brokerage and investment company where traders can invest in CFD’s on the foreign exchange market, commodities, stock and indices. They maintain offices in several other locations including Bahrain, Portugal and Russia. For financial considerations, the YoutradeFX brand was sold to SunbirdFX in 2014.
Accounts
There are five types of accounts to choose from at YoutradeFX. $500 is the smallest investment possible through the Basic account which caters to the beginner trader; $2,001 is the minimum investment in the Advanced account suitable for the more sophisticated trader; and $7,501 is the least one can invest through the Professional account which comes with additional trading tools. The Prestige account is geared toward the professional big volume trader investments must be $25,001 and over. An investment of $100,000 and over can be done through the VIP account.
YoutradeFX Account Types
The spread on all but the VIP account is 0.8; on the VIP it is negotiable.
The minimum deposit required in any account is $3000 which is very high for the industry and seems to eliminate a great many potential traders who do not have that amount to put at risk. YoutradeFX offers up to 1:30 in leverage.
Commissions on currencies are subject to the amount of funds deposited with the larger volumes charged the lowest amount. This may not seem fair to many traders and it is differs from the fixed commission charged by most other brokers.
Stock trading is competitive with low trading commissions on stocks and shares, leverage of 1:4 within trading hours and 1:2 after stock trading hours. There are no managing fees.
Traders can take advantage of a free demo account funded with $50,000 in virtual money and an Islamic account is also available for those who follow Sharia laws.
Features
The recently introduced Guardian Angel feature at YoutradeFX is an automated guidance system that works in real time to provide traders with feedback about their trading habits and how they relate to the live market. This tool offers advice to support the customer’s investment style and preferences.
Live account clients can use all available features while demo account clients receive only live market notifications. The system is offered free of charge.
Social trading at YoutradeFX allows traders to access the YoutradeFX trading community where they can view what their fellow investors are trading at any given time.
YoutradeFx also sends out a free Daily Offers and Signals Newsletter as well as Forex signals to mobile devices as they become available. This service is free of charge to live accounts with $5000 and over.
Education
YoutradeFX provides traders daily technical analysis, and macroeconomic reports. Worldwide news feeds include commodities and currency updates.
YoutradeFX Market Analysis
YoutradeFX Group has several automated trading tools that allow traders to automate their trading strategy and take advantage of trading opportunities. Traders can choose from over 20 pre-defined trading strategies
The YoutradeFX website features video tutorials ranging from basic trading techniques, technical analysis and fundamental analysis, to types of risk and money management.
The Forex ebook guide is actually quite standard but it does offer some basic terms on Forex markets, and how to execute trades. Webinars are mentioned but at the time of this review, there were no webinars scheduled.
Deposits/Withdrawals
Deposits can be made to all accounts via credit cards, bank wires, WebMoney and other online payment programs.
Clients may withdraw funds from their live account by filling the Withdraw Form and sending it via email or fax.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 25/6 |
Website Languages |       |
Traders can contact a representative via email, telephone and chat. Sending in a question through their online Ask a Question form is also a possibility. Trading takes place 24 hours a day, 5 days a week starting on the night of Sunday at 22:00 GMT and ending on Friday night at 22:00 GMT. CFD’s on commodities and indices have slightly different operating hours.
Conclusion
YoutradeFX has been around for some time and seems to be constantly adjusting its focus to meet the needs of its clients. It offers a choice of platforms and different account types and some average educational features. Its brand was sold to SunbirdFX in 2014 but it continues to function independently.
Features
YoutradeFX offers traders fairly typical strategies and tools. Their choice of platforms caters to traders of all kinds and the selection of different account types is one of its nicest features. The website is fairly easy to navigate but I was unable when doing this review to contact customer support.
Trading Platform
MT4 | |
|---|---|
MT5 | |
cTrader | |
Proprietary Platform | |
Automated Trading | |
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
Platforms
There are several platforms to choose from at YoutradeFx.
MetaTrader 4
MetaTrader 4 is well known for its innovative and powerful trading platform, featuring powerful graphical capabilities, innovative automated trading systems, advanced analytical capabilities, convenient mobile trading, high reliability, robust security and overall top performance. A key competitive advantage of MetaTrader 4 is its multilingual support. This platform is available in over 20 different languages, thus magnifying its worldwide popularity and effectiveness.
MetaTrader 4 T terminal supports three types of operation execution, including Instant Execution. All types of orders are available, ensuring fully-fledged and flexible trading activities. Traders can use market orders, pending and stop orders, as well as the Trailing Stop.
MT4 Multi Terminal
The MetaTrader 4 MultiTerminal platform allows traders to manage multiple accounts simultaneously at all times.
Sirix Web platform
The YoutradeFX SIRIX Web platform can be used by anyone who wants to access their trading account from anywhere in the world without any download or installation.
YoutradeFX Webtrader Platform
The YoutradeFX SIRIX Web platform provides 24/7 access to your account in multiple languages.
Mirror Trader
The Mirror Trader is a trading platform, providing unique tools for trading such as live signals, sentiments, market charts, oscillators and chart studies. Mirror Trader is the best Forex robot today in the industry.