ForexYard Review

Forex Yard is an ideal trading platform for traders who are new to the Forex trading System. Offering users a Free Currency Trading Training course (RRP $400), by simply putting down a deposit of $5,000, users can gain immediate access to 8 different training courses that cover a variety of different topics:

• Introduction to Forex
• Advanced Forex Trading Techniques
• Technical Analysis I
• Technical Analysis II
• Technical Analysis III
• Fibonacci Trading
• Risk Management
• Stress Management

Forex Yard has a clear trading platform showing historical data to make the correct decisions

You have here essentially everything you need to ensure you are a success on the Foreign exchange market.

Admittedly, I would have preferred it if their deposits were smaller – especially on their standard, institutional and FSA accounts which require at least $2,000 – but the strength of their support, training and resources makes putting down a little bit more to use their platform well worth the investment.

The fact that there is no restriction to where you can monitor your account is great if you are on the move all day long. No longer restricted to downloading their platform to just one computer, you can access your account absolutely anywhere, meaning you can remain in firm control of your bids.

Good Points:

• Variety of accounts – Mini, Standard, Super Mini (micro)
• FIXED pip and spread values – 3 pips (EUR/USD) or 3-5 pips (other major currency pairs)
• Free Currency Trading Training course
• No download software
• No price freezes
• Negative Balance protection
• Guaranteed Executable rates
• Free practice account
• Bonuses

Bad Points:

• High deposits on larger accounts i.e. $10,000+
• Do charge commissions ($4 per 100K trade)

We were particularly impressed by Forex Yard’s range of guarantees. Promising to keep their pips at a fixed spread of 3 pips (EUR/USD) and 3-5 pips (other major currency pairs) – no matter the market conditions – you can bid confident that you will get the rates you see on your screen. Nothing else…

Plus considering the protection of their Negative Balance scheme you will never have to worry about spending more than you want to. As soon as your balance hits its minimum Forex Yard will automatically close all your trades – preventing any financial loss and you being in debt to the broker.

However, I doubt you’ll ever encounter this problem with their promise of continual quoting and guaranteed executable rates. In both circumstances, you will be able to trade at the exact same rates you see on the screen, without ever having to worry about Forex Yard upping spreads or changing rates.

With all these resources as your immediate disposal, it is undeniable that Forex Yard has always got their clients at the forefront of their minds.

Novice traders in particular, are free to experiment with their practice account for as long as they need before they have to use any real cash. Which is a great way to boost their confidence and help them to trade faster.

The only downside I could see to this platform is the commissions they charge. Most platforms do not charge commissions on the profits you make, but unfortunately Forex Yard do.

Asking for a commission of $4 for every $100,000 trade you make, this admittedly is the only commission you’ll find here. Yet at just $4, this is practically nothing considering what you’ll have achieved before paying this commission.

Verdict

Overall we were thoroughly impressed by this trading platform. Easy, reliable and ram packed with training tools and resources, even novice traders can soon learn how to quickly harness this universal niche and become successful.

Equipping you with teaching tools, charting, fundamental analysis, technical analysis and trading tips, the moment you join. At a click of a button all the latest market changes and big trades will be yours to command.

Note: FOREX trading can involve significant financial risk even for experienced traders.