Forexyard Trader

Overview

Forexyard Trader is simple to use, and they have a lot of information for beginners. The platform is based on the Act Forex software, which means it is uncomplicated and intuitive to use. Forexyard are one of the larger online brokers, and have achieved a name for themselves in the industry.

That name was not always a good one, and one of the complaints was that their trading platform was outdated. Now they have the latest software from Act, that complaint can be dismissed. The platform supports 19 languages. A few other traders have complained at slowness in getting withdrawals, but generally the opinion of them is good.

Forexyard Trader places great emphasis on educating individuals how to trade, and as soon as you sign up they start teaching you with videos. In addition to Forex, they give you the option to trade gold and oil, and contracts for difference on the major indices, all within the same trading platform. You can start with as little as $100, and they currently have a bonus program which matches your deposit up to $300.

Opening an Account

As with most brokers, opening a demo account with Forexyard Trader is simple and quick. Just a few simple details, as shown on the screen shot below, and you can download and get started. Note the checked box for getting the free course.

Upgrading to a live account made be done from the drop down Window menu or from the tab, and in either case all you have to do is provide further details, including your address.

Basic Trading

The main screen for trading looks like this.

It is uncluttered and straightforward, and easy to understand. Even so, it comes with the facilities and tools you will need, including Ichimoku charts as seen below.

Placing a trade is simple, and the pop-up dialog box has an option to set a predefined stop or trailing stop when you place the trade, as you can see.

Now that Forexyard trader has implemented a new software platform, they look to be on track for major success.

Pros v. Cons

• √ Easy to use.
• √ No extra fees.
• √ Comprehensive training available.
• √ Wide-ranging trading tools available.
• √ 24 hour trader telephone support.
• √ Forexyard Trader has been around for a time.
• √ You can start with a minimal account.
• x Some negative experiences reported.

Summary

• Price: Free.
• Ease-of-use: 4.7/5.
• Value for money: 5/5.