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Forex Yard Review

Forex Yard offers a very nice trading package for intermediate level traders: good charting, combined with great execution - guaranteed stop orders, no slippage, no requotes - as well as the ability to trade oil, gold and silver. All this comes at the cost of slightly higher spreads, but the spreads are fixed, so if you like to trade in thin markets, you may have found your perfect match (please note that "scalping" is strongly discouraged). Forex Yard also offers a handy economic news calendar and free daily market analysis to all account holders. Traders have a choice of Java or downloadable platform, both offering the same interface so it is easy to switch from one to the other.

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Subjective Ratings

Charting: Four star Charting Rating
Execution: Four star Execution Rating
User-friendliness: Four star User-friendliness Rating
Customer support: Three and Half star Customer Support Rating
Transaction costs (spreads): Three star Transaction Costs (spreads) Rating
Rollover interest rates: Three star Rollover interest rates Rating
Withdrawal processing: Four star Withdrawal processing Rating
Platform Functionality: Four star Platform Functionality Rating
Platform Reliability: Four star Platform Reliability Rating
Average rating: Three and Half star Average Rating

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Business Details

Broker Headquarters: Cyprus
Regulated By: Unregulated - awaiting FSA approval
Client Account Segregation: HSBC (London)
Collect Taxes on Earnings: No
Accept US traders?:
Main liquidity providers: Unknown
Broker Capital as of 01-2009 Unknown
Registered Business Name: Forex Yard
In business since year: 2005
Deposit/Withdrawal methods:
MethodDeposit FeeWithdrawal Fee
Diners Club $0 $0 (Standard) or $10
MasterCard/Maestro $0 $0 (Standard) or $10
Visa $0 $0 (Standard) or $10
Wire Transfer $0 $0 (Standard) or $25

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Trading Conditions

Browser platform: ForexYard Trading Station (Java - MAC compatible)
Downloadable platform: ForexYard Trading Station
Mobile platform: ForexYard Trading Station (Java - MAC compatible)
Phone dealing: Yes
No Dealing Desk Execution: No
Fixed spreads: Yes
Guaranteed stop losses? Yes (some restrictions apply)
Hedging capability: No
Trading Hours: Sunday 21:00GMT to Friday 20:00GMT
Timezone GMT
Scalping allowed: No
Account currencies available: USD
Platform languages: Arabic, Chinese, English, Finnish, French, German, Hebrew
Support languages: Arabic, English, Finnish, French, German, Spanish, Swedish
Demo account: 30 days
Live chat support: Yes
Promotions & tournaments: 10% cash back. Free trading courses for accounts of USD5,000+
Swap-free accounts  
Typical spread on EUR/USD: 3 pips (0.0003)
Order processing: Market Maker
OCO orders available: Yes
Trailing Stops: Client-side
If/then orders available: No
Account Types
Account Maximum
Leverage
Minimum/Maximum
deposit:
Minimum/Maximum
trade size:
Notes
SuperMini Account 200:1* $100/$999 ($1,000+ automatic u $1,000/unlimited
Standard Account 200:1* $1,000/unlimited 10,000/5,000,000
Tradeable Instruments: 30   
Automated Trading: No
Depth of market view (Liquidity): No depth of market view available
Interest on Margin: No
Pending Orders Away from Market:

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* The high degree of leverage available in foreign exchange trading can work against you as well as for you. Investors should ensure they are fully aware of the benefits and risks before putting any money on the line.

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