ForexYard Review, Overall Rating: A
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| Support | A |
| Reliability | A |
| Ease of funding and withdrawal | C |
| Spreads | A |
| Disclosure | A |
Forex-rates.biz says: |
| "Their Java-based trading platform makes ForexYard a good choice for Macinosh and Linux users, or anyone who doesn't want to use a downloaded trading software client. A good choice for experienced traders that have been frustrated by slippage and requotes with other brokers" |
| Broker has a Dealing Desk: | Yes |
| Offers Straight through Processing | Yes |
| Liquidity Providers | JP Morgan, Goldman Sachs, and Morgan Stanley |
Review Summary:
ForexYard is located in Cyprus, regulated by the Central Bank of Cyprus, and has been in business since 2004 (online since 2005). They offer a proprietary trading platform, with a downloadable version compatible with Microsoft Windows, as well as a JAVA-BASED PLATFORM FOR TRADING FROM YOUR WEB BROWSER. Upon registering a new account, you can specify whether you prefer leverage of 25:1, 100:1, or 200:1.
ForexYard offers the industry standard methods for depositing funds to your trading account, which includes credit card and bank wire transfer. A live SuperMini account requires a minimum deposit of only $100 to get started.
Forexyard fills all trades including stop-loss, limit, and entry orders, and they are guaranteed against slippage except in extraordinarily volatile market conditions. As any veteran trader knows, tight spreads are meaningless if you can't get orders filled at your price. This is a subtle but critical point. Forexyard guarantess that the bid/ask prices you see in their trading platform aren't merely vague indications of where the market is trading that mysteriously vanish when you place an order. Rather, these are executable quotes all you have to do is click the current bid or offer, and the trade is immediately yours at that price. This is in contrast to many brokers that honor their prices only when the trader is wrong, and mysteriously refuse to execute when prices are moving in the trader's favor.
Traders registered with ForexYard enjoy access to a dedicated, 24-hour Trader Support Center, where technical help and market advice is available throughout the trading week (Mon-Fri). Traders can always reach an experienced support person with a background in trading.
