Forex Yard is a retail forex broker located in The Republic of Cyprus that caters to new and advanced forex traders. A hallmark of this forex broker is its easy to use trading platform. It comes in two flavors, a Windows Trading Station and a Java Trading Station. Both have a full charting package as well as technical indicators and are free to download.

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Funding your account can be done via a credit card and you can get started with as little as $100.  We recommend opening a practice account first so you can get a feel for the trading platform. Forex Yard bundles a free trading course along with the starter package.

You can expect a spread of 3 pips on EUR/USD and 3-5 pips on other major currency pairs. They vow not to widen spreads based on market conditions to include major economic news events.  Quotes are posted at all times to include the aforementioned news events and are immediately executable. To reduce slippage, market orders are typically filled immediately with no partial fills. Stop orders for the most part are handled the same way. This will save a forex trader money in the long run.

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ForexYard has a “No Debits Guarantee” whereby you will never face a debit balance. If the equity in your account falls below margin, the trading station will close your positions out automatically.  This reduces risk and only allows you to trade what’s in your account.

Support is available 24 hours a day throughout the trading week to include market advice and technical help. All support personnel have trading backgrounds and Forex Yard has a full educational department to assist new forex traders with the learning curve.

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So, is Forex Yard a good online forex broker? They are full featured and have all the tools traders expect. The spreads are competitive and they have a solid trading platform. Those new to the forex trading world should find Forex Yard eager to help. If you get tired trading only forex, you can trade gold and crude oil as well. Open a free demo account and give them a shot.

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