Forex broker Forex4you has partnered with Bangkok Bank, one of the largest banks in Southeast Asia, and now accepts client deposits via it, the broker said on Thursday. In addition, the broker has made changes to its withdrawal and deposit commissions, which will come into effect as of 1 January, 2016.
In addition to Bangkok Bank, Forex4you’s clients can also make deposits via Novo Banco (Luxembourg), Baltikums (Riga), PPF banka (Prague), OCBC (Singapore), and the Swiss Bank Corp (Basel). In addition, the broker accepts e-payments through FasaPay, Neteller, Skrill, and WebMoney.
As of the beginning of next year, the broker will no longer require commission compensation for deposit/withdrawal for Neteller, Skrill and WebMoney. At the same time, it will compensate all commissions for deposits and withdrawals for VISA and MasterCard bank cards and China UnionPay until 31 March, 2016.
As part of its transparency strategy, the broker will periodically publish the compensation amounts and period of compensation on its website.
Forex4you is the trading brand of E-Global Trade & Finance Group. The company is based in the British Virgin Islands and is licensed by the local financial regulator, the Financial Services Commission (FSC). Forex4you’s clients can choose between cent, classic, and pro demo and live trading accounts, as well as automated trading via PAMM accounts. It only provides services based on the MetaTrader 4 (MT4) forex trading platform.
The British Virgin Islands are known as an offshore forex destination. The country started imposing regulation on the forex market in 2010. Other forex brokers authorized in the country include AvaTrade, Gallant Capital Markets, FIBO Group, and HotForex.
Bangkok Bank, with total assets of some $85 billion, is the largest bank in Thailand. It has a network of 30 overseas branches across 14 countries, including China, Hong Kong, Indonesia, Japan, Laos, Malaysia, Myanmar, Singapore, Taiwan, Philippines, Vietnam, the US, and the UK.