ForexYard Review
ForexYard has a lot of experience and it is considered to be among the best forex brokerage firms in the world. It currently services traders from all around the world and offers great market analysis tools, extensive order executions and a customer support of the highest quality possible.
ForexYard gives users different possibilities in opening a live trading account in order to meet individual training requirements. After you open a demo account you can start using it to practice or opt for one of the many real money accounts. The SuperMini is the cheapest package at just $100 initial deposit and is focused on the needs of a small trader. You can trade up to 1000 units. If you need more, you can move towards the Standard account, which requires an initial deposit of $1000. You will not have any limit on extra deposits and this package is tailored for both experienced traders and novice users. Also, there is no commission or annual fee charged. In the event that you are a part of an organization you can opt for the Institutional account. ForexYard will charge $4 per lot and will restrict leverage to 1:30 for this package. If you are looking for something special you can opt for FSA, which is a MetaTrader platform proprietary version owned by the company. FSA offers many of the advantages that the Standard account has but also includes flexibility when choosing trading strategy through a market analysis basis. VIP members can gain customized trading if needed.
Talking about withdrawals and deposits, users can use Diners Club, MasterCard or Visa credit/debit cards for any real trading account. If needed, moneybookers and bank wire transfers are also available. If you want to withdraw an amount you will need to fill a form and also send a proof of address and identity. Any withdrawal will stay in processing status for around 3 days before the funds are released.
ForexYard offers 2 platforms that you can use. One is web based and built through Java and the other a downloadable software product that can be used on any Windows computer. Both platforms are user friendly and have an intuitive interface. There is a lot of flexibility when talking about customization and there are different options available like stop loss, trailing stops, exit orders, entry orders and so on. We can say that everything is very well built for swing trading. Some users will also like the fact that there is an iPhone app that was introduced by ForexYard, which allows mobile phone forex trading.
ForexYard has been in business for a long time and has managed to also build a very good support system for customers. You can get answers through email, fax, phone and live chat. When live chat is available the response is instant. Trading options offered are sound and the only problem is the fact that no international authority regulates the company.
