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Forex Yard
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Forex Yard review
Forex yard is a Forex broker that accepts US players. The site has a lot of services for its clients. We will add a full review in a few days.
ForexYard is a Forex broker Thath has a dealing desk brokerage available to receive your orders. ForexYard is based in Cyprus and was founded in 2004. Gold, silver and oil are the three offered commodities. In addition, twenty-seven different sets of currency are available and they offer fixed competitive spreads. This broker is highly recommended for beginner traders as well as experienced Forex market traders. Their customer service is excellent. In addition, they offer trading with a variable margin, a web-based or download trade option along with various other appealing features that other brokers do not offer.
It is very simple to open a demo or live account. ForexYard’s website is very easy to navigate on and instructions are clearly explained. All well-known credit cards are accepted. Electronic bank transfers can be used to deposit money into a live account. Western money Transfers are also available. When you start to trade live, deposits made via credit card will go through immediately, however electronic bank transfers can take three days to go through. A free course on ‘how to trade’ is available when you register; it is actually reasonably good and deals with all the starting points on Forex trading. In addition ForexYard also offers diverse tutorials that are nicely written. The tutorials discuss trading platforms and explain various common technical indicators.
You can open a Forexyard Live account starting at $100. A super mini account (this is for amounts less than $1000) is available, in addition, they offer a standard account. Trading gold, silver and oil is only available with a standard account. For a beginning trader the super-mini account is perfect. There is only a minimum amount of money that can be risked and trader will get a good feel of trading live. Furthermore, for a standard account no fees are attached. However with the small trade account you pay $25 per withdrawal.
To withdraw money from the account, the trader will need to fill in a form and fax it through together with a form of identification. You can have the money sent straight to the credit card from which the deposit initially came from. Alternatively you can withdraw via wire bank transfer. Processing time can vary: on the website it states that ‘withdrawals will take a minimum of three days’, however there is no maximum time period given. ForexYard has very strict guidelines on trade scalping.
The trade platform of ForexYard is customizable and very simple to use. Getting started is easy with help from the website tutorials and if you look on the platform there is a help department. ForexYard does not offer MetaTrader feets or signal charts. However, you can trade with their main platform and use their own charts. This is acceptable for intraday or short-term stocks. All the normal type or orders are available, and trailing stop orders are also included.
ForexYard’s customer service is excellent. They are available via via email, telephone and you can even have a live-chat with them on the website. Email response obviously take longer than the online chat, the online chat responds immediately, whereas email can take up to 24 hours.
| Deposit options | Neteller, Creditcard, Bank transfer and Paypal. |
| Free demo accounts | Yes, unlimited practise money. |
| Bonus for new clients | Deposit $1000 and get $100 free, or receive $50 to $300 cashback. |
| The spreads | Two pipes for the most currencies. |
| Minimum deposit | $100 is the minimum. |
| Maximal leverage | 400:1 |
