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Offshore forex broker Forex4you said on Thursday it has decided to compensate 100% of commissions for deposits via e-payment networks Neteller and Skrill and 1.5% of the fees of clients of all other payment systems it supports.
The new deposit compensation rates come into effect as of 1 April, 2016.
Forex4you supports several different money transfer methods for both deposit and withdrawal payments. These are bank wire transfers, bank cards Visa and MasterCard, and e-wallet systems Neteller, Skrill, FasaPay, and WebMoney. The broker also accepts deposits via China UnionPay bank cards and allows withdrawals through Pioneer prepaid MasterCard cards.
Neteller and Skrill, previously known as Moneybookers, are among the most widely-used e-payment network in the forex industry.
London-based Skrill has offices across Europe and the US and allows money transfers in 40 currencies. Neteller is based in the Isle of Man and is part of Paysafe Group. Both networks have clients in more than 200 countries worldwide.
Forex4you is a trading name 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.