Forexyard - Review On Foreyard Online Broker

Forexyard is a well known online forex broker that has been active for a few years. They are known to advertise significantly and consequently, their customer base has been increasing.

Great importance on client service is how Forexyard goes about things in this business. They see themselves as a smaller player in the online forex broker market, catering to those that view customer service as the most vital requirement.

As such, they may not possess the lowest spreads or the widest currency pair varieties. Their free online tools however, are rather extensive. Forexyard has always insisted on providing good forex trading education which is why such a wide array of tools and seminars are offered.

Clients can pick from three trading software. A java based platform, their own FX trading platform and finally, the ever well-liked metatrader 4. That is plenty of choices compared to most online forex brokers. With Forexyard, customers can either trade directly form the web or download their platform of choice.

The smallest account available is the supermini. Minimum deposit for this account is a competitive $100.

This broker is also one of the few brokers that offer clients automated trading accounts. There are three main types of automated accounts offered.

FSA (Forex Strategy Automater) is the first type of account In this case, there are 10 preset strategies designed by Forexyard for the client to choose from. Once the strategy has been chose, trading is done automatically.

Algorithmic trading is the second type of automated account. With algorithmic trading, the client must develop his or her own strategy for the platform to use.

The third account is based on something called API trading. Traders that have a skill for developing forex systems are perfect for API trading. A system must be programmed to be used with Forexyard. API trading can be used to test various systems for personal use or for other companies.

Commodities are available for trade with Forexyard. The three commodities that can be traded are Gold, crude oil and silver.

Like most of the top currency brokers on the market, they do not charge a commision on your trade. The spread is the means that forexyard earns a profit per trade.

Should you have any questions for them, a full complement of client service representatives are on standby 24 hours a day. Also available for a trial run is their free forex demo account for customers to test out.

Overall, Forexyard does not have the largest leverage offered or the lowest spreads on the market. Customer service is their strong point though. Something which forex traders can truly appreciate.