Forex Yard Review

Forex Yard Can Help You Get Started in Online Forex Trading

Best Forex trading online is the promise made by Forex Yard for its clients. According to the site, the delivery of such best experience is its commitment. However, the promise falters when you set up an account with Forex Yard and start trading using its Forex platform. Using the platform is far from commendable but the entire service package of Forex Yard can make up for the deficiency.

Two Types of Trading Platforms

Forex Yard has two types of Forex trading platforms. The first is a downloadable client based on Windows system and the other one is Java based. You can register with Forex Yard through its website. Deposit procedures can also be accomplished through the web interface of Forex Yard.

Issues Bugging the Forex Yard Platforms

Accessing the two platforms however is a snail paced experience. You should expect a 10 minute time lag before you can successfully download the platform client. On the other hand, it will take more than a minute before you can interface with the Java based platform. The sad part is the platforms have very difficult interface. The navigations are not very intuitive so you will have to discover your way around the two platforms. A simple transaction such as opening a position will take a while to understand.

The Learning Curve of Forex Yard Forex Trading System

The redeeming value of the Forex Yard platforms is the availability of detailed instructional manuals. You can access these manuals online. You need to carefully study the step by step instruction in order to appreciate the intricacies of the Forex Yard platforms. Once you learned the interface and the tools of the platforms, you can now discover the rich features offered by Forex Yard. Trading would be easier and you will be able to fully customize the desktop client to match your preference. Valuable charts and tools are always available to improve your trading experience.

Aside from the regular tools commonly seen on any Forex platform, you can benefit from the advanced features of the Forex Yard platforms. You can configure order entries and track market orders. You can also easily set stop loss orders, trailing stops, limit orders. The platforms will be very suitable for veteran traders proficient in running sub-accounts. Essentially, you will be able to go short or long on the same currency through such sub-accounts.

Types of Forex Yard Accounts

You are also allowed to run demo accounts on the Forex Yard platforms aside from the real accounts you are holding. The real money account offers two levels of trading skill set.

First, you will be able to set up a Super-Mini account for just $100 initial deposit. This is very ideal for novice traders starting to learn the Forex market. The second level is the Standard Account. On a standard account, you are allowed to trade for 10,000 units with a maximum allowable deal of $5,000,000.

Forex Yard offers 26 currency pairs. There are different spreads available for the two types of accounts. On the Standard account, you can have a spread of 2 to 3 pips for the Majors. On exotic pairs, you can have spreads from 7 to 13 pips. On a Super-Mini account, the allowable spread is 7 to 10 pips for the majors while you can have a maximum spread of 20 pips for Exotic pairs.