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Forex4you offers three main analytics to help traders achieve their goals that cover both fundamental and tehcnical analysis. What are those and how to get them for free?
Forex4you is a widely known forex broker that offers reliable trading services suitable for both novice traders and experts. Launched in 2007, the company has a lot to offer in terms of assets, trading fees, investment safety, account types, and customer support. On top of it all, Forex4you also offers a series of free powerful analytical tools to help traders make sense of market conditions, price movements, and sentiment data.
Forex4you currently offers three main analytic tools, namely:
- Dow Jones News: Provides the latest market news and reports, commentary on key currency positions, central bank reviews, as well as legal and political news.
- Autochartist: A handy tool to spot trading opportunities with automatic chart pattern recognition, volatility analysis, quality indicators, and key levels.
- Trading Central: An easy-to-read source of technical analysis that can be used to analyze the six most traded currency pairs based on expert analysis and research.
The good news is that there's no need to worry about the cost because all of these tools are completely free for Forex4you users. Let's take a look at each analytic and learn how to get them on Forex4you.
The Dow Jones News
More often than not, using technical analysis alone is not enough to craft a reliable trading strategy. Keeping track of market news is also important to a certain extent because it can heavily impact price movements and your trade in general. It can help you avoid highly volatile times and find the right time to enter or exit the market.
In this case, Forex4you offers the Dow Jones News feature that provides more than 100 news headlines every day. It consists of the latest market news and reports across various topics, commentary on key currency positions, central bank reviews, economic cycle analysis, macroeconomic indicators, as well as legal and political news.
The key to use this tool effectively is that you need to be able to find news that is relevant to your trading in particular. Focusing on irrelevant news can be quite a waste of time and may even lead to poor decisions, so make sure that you're keeping an eye on the ones that actually matter.
Autochartist Market Report
Autochartist is a highly useful technical tool that provides trading signals and trading opportunities based on financial data. The software is frequently used as a plugin for trading platforms like MetaTrader 4 and MetaTrader 5. In Forex4you, Autochartist is available for 17 major currency pairs.
Autochartist offers several functions, such as automatic pattern recognition, volatility analysis, reports, quality indicators, and key levels. The main idea is to basically identify different types of patterns on the chart in order to help traders find profitable trading opportunities. It monitors the market 24 hours a day, so it is able to provide real-time insights into market movements. After scanning the markets, the software gives you price alerts or trading signals.
According to recent studies, Autochartist signals have around 60-80% accuracy, making it a very attractive solution for various types of traders. However, this is not to say that you should trust it completely. Autochartist can indeed highlight potential trades and changes on the market, but you are the one who controls your trades.
Trading Central Analytics
Trading Central offers a set of solutions designed to help traders analyze market conditions and spot trading opportunities. It provides an easy-to-read source that consists of advanced technical analysis for the six most traded forex pairs based on expert analysis and research. This tool can help you cut through market noises and focus on important information that may heavily affect your trading strategy or investment portfolio.
Essentially, Trading Central has several considerable functions, such as:
- It is useful for the Chartist approach as the tool is able to keep the direction of price movements and price targets.
- It uses mathematical indicators to determine the initial mindset and find the right timing to enter/exit the market.
- It uses Japanese candlesticks to confirm trend reversal or continuation.
How to Read Trading Central Reports
Here's an example of a Trading Central Report on Forex4you.
- The Green line represents the resistance line
- The Red line represents the support line
- The Blue line shows the alternative-scenario line that touches where it's highly recommended to switch to the preferred alternative scenario
How to Get Access to Forex4you's Free Analytics
The three analytics above are completely free of charge and available to all eligible clients. Here is the step-by-step guide that you should follow:
- Open the broker's official website and click "Open Account".
- Enter your personal information like email address, phone number, etc.
- Provide all the required documents to complete the verification process. The broker will let you know if the documents are approved. This may take up to several business days to complete.
- Once your account is fully verified, simply open your Trader's Room and go to the "Analytics" section.
- All done! Choose any tool that you'd like to use from the sub-menu on the top of the screen and start your analysis.
Why Trade with Forex4you
Forex4you is one of the few brokers that aim to contribute to the online trading industry by offering a transparent trading environment with higher accessibility and adaptability. With over 15 years of experience, the broker now has facilitated more than 1.8 million opened accounts and no less than 728 billion worth of executed transactions.
Forex4you offers multiple types of accounts, including Cent accounts for beginners and Classic and Professional accounts for advanced traders. Over the years, the broker constantly updated their features and technologies to expand its services and satisfy their clients.
Providing services since 2007, Forex4you is mostly out of the spotlight even though their trading conditions can be regarded as one of the most flexible among other forex brokerages. Setting headquarters in the British Virgin Islands, this broker is currently under the regulation of local financial regulatory called the BVI Financial Services Commission (BVIFSC).
After opening an account with Forex4you, traders can choose leverage as high as 1:1000, thanks to the relatively loose policy from BVIFSC. Forex4you divide their account types by execution. Between the 4 accounts available, two adopt instant execution (Cent & Classic) while the remaining two call for market execution (Cent NDD & Pro STP). For traders choosing accounts with instant execution, there will be no trading commissions charged, but the spread is a bit high as it settles on 2 pips range (at the minimum). On the other hand, account types with market execution can give a floating spread from 0.1 pip despite charging a commission starting from $8 per lot.
Forex4you provides no Swap-Free feature, so this broker is not Sharia-compliant. Still, it is quite interesting to note that this broker provides an alternative on platform trading, so traders can try to trade on another platform with a new interface should they feel restricted by MetaTrader4 limits. The said platform is uniquely Forex4you's trading technology, which is available on WebTrader and Mobile App.
Forex4you also highlights their own Social Trading platform hailed as Share4you, which allows all traders to play as either Leaders or Followers. Both sides have mutual advantages, as Leaders are granted additional fees from their Followers while the Followers can copy trades which makes their transactions a lot easier and reliable as the signals come from more experienced traders.
Beyond their innovations on trading platforms as well as Social Trading facilities, Forex4you is quite transparent on their forex pairs' liquidity providers. However, they don't have a certain page dedicated to their Contract Specifications for other class assets.
Payment methods in Forex4you are quite limited, only available in Bank Transfer, Neteller, Skrill, WebMoney, and Credit Cards (Visa and Master Cards). This broker claims to have more than a million accounts all over the world, so it is believed that Forex4you is one of those forex brokers who perform steadily even if their popularity doesn't soar extremely high because of intense marketing schemes.
What makes trading in Forex4you stands out from is the remaining Cent Account which allows traders to trade with a contract size as low as 1000 units per lot. The ultra-small trading volume has been infamous for traders who want to trade in a real account with very minimal risk. However, the numbers of broker offering Cent features are gradually lessening as retail traders seem to keen on taking more risks. Yet, Forex4you maintains their Cent Account offering, not only in one type but in two types of execution so beginners can make their own choice on spread over commission or otherwise.
All in all, Forex4you is one of the preferred choices for a forex broker if you look for flexibility in trading conditions and an advanced platform in Social Trading. Also, the remaining Cent Account offers an interesting option even for experienced traders who look for spare accounts to try out new strategies. Nevertheless, it is not highly recommended for trading with big money as the company is registered in an offshore jurisdiction. Forex4you also tends to fly under the radar as the broker rarely generates buzz in the brokerage industry.
Forex4you is a forex and CFD broker with more than 15 years of experience in the industry. The company seeks to contribute to the global change in the online trading industry — bringing more transparency and making trading truly accessible to all with instant and market execution, multiple trading platforms, free market analytics, as well as multiple account types.
12 Comments
Eugene
May 23 2023
Nice. I've been keeping an eye on this broker for a while and today I found one more benefit of trading with them. I'm pretty confused about the first one though. Is the Dow Jones news the same as the famous Dow index? If so, then does that mean that the news only provide information about the Dow stocks specifically? I'm a forex trader myself, so I don't really pay attention to stocks. I was hoping to get an all-in-one news service where I can keep track of multiple news releases at once. And speaking of news releases, is news trading really worth it?
Mischa
May 23 2023
I thought about that too the first time I heard about it but apparently, the news portal is not just about the Dow Jones stocks. As described in this article, it contains news of various different topics, including the major and small-impact ones. I personally find it really helpful, especially during volatile times. The service is highly updated too, so you can get your hands on the news before everyone else. Pretty cool, right? My advice is simply to filter the news as much as you possibly can. Find the ones that actually matter to your trade and ignore the rest. Good luck!
Oli
May 24 2023
In my opinion, news trading can be worth it once you get the hang of it, but it's certainly far from easy. Around big releases, the market is usually very very volatile. And I mean, very volatile. The price can change direction in a matter of seconds. This is why most of the time, news trading is not recommended for beginners.
However, if you want to try it yourself, then by all means, go for it. I think the most important part is having a good trading strategy and don't let your emotions take control of your decisions. Just stick to the plan and practice, practice, practice.
Lonard
May 25 2023
@Eugene: Hey there! The Dow Jones news and the Dow Jones index are related, but not exactly the same. The Dow is a famous stock market index that represents 30 big companies in the US. Dow Jones, on the other hand, is a news agency that provides financial news about lots of stuff, not just the Dow stocks. They cover stocks, currencies, commodities, and more.
If you're into forex trading and don't care much about stocks, you'll want a news service that covers multiple markets. There are platforms like Bloomberg, Reuters, and Financial Times that offer all-in-one news services for forex, commodities, stocks, and more.
As for news trading, it's a strategy where traders try to make quick trades based on important news releases. It can be exciting and profitable if you're good at reacting fast to market movements. But remember, it's risky too, so you need to manage your risks carefully.
So, whether news trading is worth it or not depends on your trading style, risk tolerance, and the market you're in. Just make sure you know what you're doing and have a solid understanding of the news and its impact on the market before you dive in.
Caro
May 23 2023
My question is that is Autochartist reliable? The thing is, I've tried several trading signals from other providers before and none of them worked well for my trades. I don't know what went wrong, but the signals were simply incorrect. I ended up losing a huge sum of money (I risked about half of my deposit at that time) and now I realize that perhaps the outcome would've been better if I hadn't use the signals at all. However, I feel like Autochartist is very popular these days. A lot of my friends are using it and I don't think I've seen them complain about it. Is it really that good??
Stefan
May 24 2023
That's a bummer, my friend. It's true though that trading signals are not always accurate, so there is a possibility that your trade may not work well. This is why you shouldn't fully rely on forex signals. Instead, you should have a proper trading strategy and wait for confirmation signals before using the forex signal as the entry/exit point of your trade. However, if you constantly get losing trades from the same signal provider, then it shows that the accuracy is low.
Autochartist has about 60-80% accuracy, so it should be good enough for beginners and it can be a useful additional tool in your platform. Just don't rely on it blindly. You can use their signals to spot trading opportunities on the chart, but make sure to have your own analysis too.
Potter
May 26 2023
Can you provide a detailed explanation of the functions and benefits offered by Autochartist? I've heard that Autochartist is a powerful tool that offers several functions, such as automatic pattern recognition, volatility analysis, reports, quality indicators, and key levels. How does each of these functions work, and how do they contribute to helping traders find profitable trading opportunities?
I'm particularly interested in understanding how Autochartist's automatic pattern recognition feature operates. How does it identify different types of patterns on the chart, and what patterns does it recognize? Does it consider both chart patterns and candlestick patterns? And how accurate and reliable is the pattern recognition feature?
Another aspect I'd like to know more about is Autochartist's volatility analysis. How does it analyze market volatility, and how does this information assist traders in making trading decisions? Does it provide any insights into potential breakouts or trend reversals?
Hasan
Jun 10 2023
@Potter: Hey there! Autochartist's automatic pattern recognition feature is pretty nifty! It uses advanced algorithms to scan charts and identify various patterns that may be forming. It's like having a pattern-hunting Sherlock Holmes in your trading toolkit.
Now, when it comes to the types of patterns it recognizes, Autochartist is quite versatile. It can detect both traditional chart patterns, like triangles, head and shoulders, and double tops/bottoms, as well as candlestick patterns, such as doji, engulfing patterns, and harami. So, it covers a wide range of patterns that traders commonly look for.
But here's the catch: no pattern recognition tool is 100% foolproof. Autochartist's accuracy and reliability depend on various factors, including the quality of the data it receives and the market conditions. While it's designed to identify patterns and provide potential trading opportunities, it's essential to exercise caution and not rely solely on its signals. It's always a good idea to combine pattern recognition with other technical analysis tools and your own judgment.
Johnson
Jun 17 2023
Hey there! It is interesting to know that Forex4you have offered some analytics that we can enjoy for free. However, I am curious about those analytics things. Do we need to undergo any training or complete specific courses in order to utilize the free analytics provided by Forex4you, or can eligible clients simply follow the step-by-step guide on their website to access and make use of these analytical tools? It's great to know that the analytics are available at no cost, but I'm curious if any additional knowledge or training is required to effectively utilize them for making informed trading decisions.
Miles
Jun 18 2023
@Johnson: Hey! That's a great question. You don't necessarily need to undergo any specific training or complete courses to utilize them. Forex4you aims to make these analytical tools accessible and user-friendly for their clients.
Eligible clients can simply follow the step-by-step guide provided on Forex4you's website to access and make use of the analytics. The guide will walk you through the process of accessing and understanding the different analytical tools available.
While additional knowledge or training in trading and technical analysis can certainly enhance your understanding and utilization of the analytics, it is not a requirement to get started. Forex4you's analytics are designed to be accessible to traders of all levels, including beginners.
So, even if you're new to trading or don't have extensive knowledge in technical analysis, you can still benefit from the free analytics provided by Forex4you. Just follow the guide, explore the tools, and start making more informed trading decisions!
Charlie
Jul 15 2023
Why is it important for beginners to learn how to read charts, despite the availability of tools like Autochartist that offer automatic pattern recognition and trading signals? While Autochartist provides valuable insights and alerts based on pattern recognition, why is it still essential for traders to understand chart analysis and not rely solely on automated tools? How can learning to read charts enhance a beginner's trading skills and decision-making process, even when using tools like Autochartist with their reported accuracy rates? In what ways can a trader effectively utilize Autochartist in combination with their own chart analysis knowledge to maximize their trading potential?
Foden
Jul 16 2023
@Charlie: Learning to read charts is super important for beginners, even with tools like Autochartist available. While Autochartist gives you pattern recognition and trading signals, it's still crucial to understand chart analysis yourself.
Why? Well, relying solely on automated tools can be risky. These tools are based on historical patterns and algorithms, so they might miss current market conditions or unexpected events. By learning chart analysis, beginners gain a deeper understanding of price action, trends, and important levels on the charts. This helps them make smarter decisions and spot patterns that automated tools might not catch.
Charts provide a visual representation of what's happening in the market. They help you see patterns, market sentiment, and price movements. By analyzing charts yourself, you develop your skills and gain confidence in your decision-making.
While Autochartist can be helpful, use it alongside your own chart analysis. Combine the insights from Autochartist with your own understanding to validate signals and make better trades. It's about using automation while maintaining control based on your own analysis.