4XP

Added on March 8, 2013 04:01 AM
(4.5 / 5)
Spread: 3 Min. lot: 0.1 Execution: Market Maker, ECN, STP
Leverage: 1:300 Country: Regulated by: FMRRC
Min. deposit: $100 Platforms: MetaTrader,Mirror Trader Payment methods: Bank Wire, Credit card, MoneyBookers, Click2Pay, AlertPay, WebMoney, Liberty Reserve
Bonus: 50%

4XP is also called Forex Place. It is one of the most promising Forex brokers we have reviewed recently. The website was found to be clean, straightforward, fast, easy to use and visually appealing. It is available to users in 10 different languages so that people from different corners of the world can easily benefits from the same. They also offer basic as well as common services provided by similar other Forex brokers. However, 4XP also includes services that distinguish them from the clan of Forex brokers in many ways with respect to the exclusive webinars. Clear and crisp information for beginners and one-on-one coaching facility!

Trading Platforms

It was more than a pleasure to see the 4XP trading platform; there are both downloadable and web-based platform options. Not to traders’ surprise, it also offers the popular MetaTrader 4 and 5 platforms, too, which is the industry standard trading platform popular for all levels of traders. Both the platforms are very easy to use and access, however, some commonly prefer to use webtrader, which does not need to be downloaded. All you have to do is enter the login id and passwords and you can take off.

In addition, this Forex broker also offers a sophisticated mobile trading platform that enables you to trade while you travel, on any web-based mobile device, including Blackberry, Android and iPhone. This is one of the major advantages of using this Forex broker, as people are more dependent on mobile phones these days, which is also a billion dollar contributor to the economy. The fact that 4XP offers an outstanding mobile platform truly shows that it is one of the top ranking brokers that is here to stay for long.

Features

4XP is the trading platform that offers more than 50 different currency pairs and the spread of majors is 3 pips, along with some promotions that may entail up to 1 pip on majors. They have fixed spreads, which does not depend on anything. They truly live up to the market standards, and they even offer a free demo account worth $50,000, and a mini account with a minimum deposit of $500.

Leverage is another incredible feature of 4XP, which makes it even more reliable. It’s not the highest that you can have, but simply 300:1 is something you don’t get every day; it is much above average. Without getting into any sort of debate related to the high leverage offered by this broker, traders can decide. It can be rightly said that offering such an option is definitely a good initiative on the broker’s part, and it is entirely up to the traders to make proper use of it. There are, probably, only a few reliable brokers that could afford to arrange such trading options for the world.

When money deposit is concerned, there isn’t any reason for Forex brokers to make this process easier for traders, unless they don’t want their traders’ money. Well, with 4XP, you will be able to deposit money in every ways possible, which includes some of the options that most people have probably never know, such as credit card, bank wire, moneybookers, direct e-banking, liberty reserve, payoneer and others. The only payment option that was missing is PayPal, which was quite surprising actually as there is a large number of PayPal users involved in the Forex trading business. Also, PayPal is believed to be the most reliable money transactions medium. Taking such a risk should be supported by great service, experts say. However, with so many other payment methods available, any trader would find their own preferred choice with 4XP.

Whereas most brokers usually make their deport process easier, it is likely that some brokers may make the process of withdrawal really painful. With 4XP, however, you can simply send one fax/email/web form and it is assured that your money will be with you after 3to 4 business days. They have made it a point to simplify the process of money transaction so that traders do not have to worry about their money, once invested. Real time trading, after all, comes with a lot of risks. No trader would want to endanger their money with a broker they have chosen. 4XP plays safe and values traders’ thoughts.

Help and Support

4XP offers decent customer support via email, phone, and live chat. You can get in touch with them 24/6. They have proven to be highly responsive, helpful and patient with their traders. Contrary to most of the other brokers, 4X doesn’t focus only on getting money from you; they do spend their resources to educate traders, which is really appreciable.

There is a splendid platform for educational courses and live trading. Apart from that, 4XP also offers regular market analysis like economic calendar, which is known as the Live Dealing Room. This, for all purposes and intents, is a forum that allows traders to ask questions and offer solutions; it is possible to communicate with other Forex traders and experts. This service is definitely going to catch up with users of all age groups, regardless of their experience in Forex trading.

Summary

As with other Forex brokers, we always look for something that is catchy. It is quite obvious to believe that there would be some high commission or charges or hidden fees involves. But when it was apparent that 4XP does not have any fees or commission, it was definitely quite surprising, though pleasantly.

4XP claims to provide trades with honesty, integrity as well as services par excellence, and throughout the review process, and it is true that they are trying their best to live up to their promises, which is also creditable. Amongst so many other Forex brokers, experienced and strong, to compete in the market, a broker has to be brilliant with respect to services and the platforms offered, and  4XP definitely lives up to the mark. There is no doubt that traders will have a learning and enjoyable trading experience with and through this broker.


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