4XC Review 2023
Built on the core values of transparency, uniqueness, and superb customer service, 4XC is a reputable broker that applies the highest trading standards and strongest safety measures for clients’ funds and providing traders withadvanced trading platforms, trading tools, and competitive trading conditions. Being an execution-only broker with no dealing desk, 4XC accepts all types of traders and trading strategies, creating the optimal environment for success.
In this post, we reviewed the company’s brokerage services, examining its regulations, platforms, global access, registration, account options, leverage, trading fees, customer support, education, and reputation.
Overall Rating
★★★★★★★★★★ 8.1/10
FAST FACTS
Account Minimum Deposit: $10
Fees: Spread, swap charges
Best For: Both newbies and professional traders
Regulation and Security
4XC is the trading name of Geomatrix Limited,which is authorized and regulated by the Financial Supervisory Commission in the Cook Islands, with a Money Changing & Remittance License (no 12767/2018). The company regularly submits financial reports to FSC, including reconciliations of client funds.
The Cook Islands is a territory in free association with New Zealand but with an independent body responsible for supervising regulated financial entities and financial services.
FSC adopts the strictest of standards, including capital adequacy requirements. Financial services are the second biggest contributor to the Cook Islands’ economy after tourism, adding about 8% to the GDP. The FSC has an important role to play in the financial services sector.
Segregation of Funds
Client funds are kept separate from the company’s and stored with reliable banks in special accounts (called segregated accounts). Client accounts are established with the necessary coding to ensure they are used only for clients’ funding purposes.
The brokerensures the full protection of client funds for as long as they decide to keep them with them. 4XC does not use client funds for operational or investment purposes, and all accounts are monitored and reviewed by external and internal auditors.
Data Security and Privacy Policy
4XC uses the latest encryption technology to keep your data safe and secure.It uses Secure Socket Layer (SSL) encryption technology to protect clients’ information. This technology protects the client from having their information intercepted by anyone other than the company.
Negative Balance Protection
This is a safety mechanism to ensure no client is responsible for paying back a negative balance when margin calls and stop-outs do not function correctly. With this, you can’t lose more than you invested and won’t end up owing the broker.
Anti-Money Laundering
Money laundering entails converting money or other monetary instruments gained from illegal activity into money or investments that appear to be legitimate so that its illegal source cannot be tracked.
4XCis committed to assisting governments in combating the threat of money laundering and terrorist financing activities worldwide. The broker has set up a highly sophisticated electronic system for that purpose.
Is 4XC available worldwide?
4XC is available worldwide; however, the broker does not offer its services to residents of certain jurisdictions, such asthe USA, Iraq, Iran, and North Korea.
Supported Platforms
4XC provides traders with the full suite of industry-leading trading platformsto help them get the most out of their trades. The available trading platforms at 4XC include the following:
MetaTrader 4
4XC provides traders with the high-performing MetaTrader 4 trading platform. The trading platform combines a user-friendly interface with many powerful functions. There are nine timeframes available for each financial instrument that provide accurate quote dynamics. More than 50 built-in indicators and tools help simplify the analysis, enabling it to determine trends, define various shapes, determine entry and exit points, etc.
MetaTrader 4 also gives traders access to advanced charts to make appropriate decisions and take the lead in the forex market. It provides the necessary tools and resources to analyze the price dynamics of financial instruments, carry out transactions, and create and use automated trading programs (Expert Advisors).
MetaTrader 5
4XC also provides traders with the MT5 trading platform. It is an improved version of the MT4 trading platform. The MT5 trading platform was launched in 2010 by MetaQuotes to offer unhindered access to the financial markets. MT5 is packed with more advanced trading tools to ensure the ease of trading various financial assets, including forex, metals, cryptocurrency, stocks, index CFDs, and more. The platform also has several technical analysis tools and supports trade automation with expert advisors. It is available as a desktop application for Windows and Mac computers, WebTrader, and a mobile app that is compatible with Android and iOS devices.
WebTrader
In addition to the desktop version, the MT4 and MT5 trading platforms are available in a web-based version. The MetaTrader web trader is an online trading platform for trading directly through a browser without installing an application on your computer. It provides traders with a convenient, comfortable trading environment and powerful features that enable them to trade professionally.
With the 4XC web-based platform, you will have access to different features such as depositing and withdrawing funds, opening and closing positions, and viewing your trade history with the convenience of an instant start-up from any web browser.
Mobile apps
The broker also offers the mobile version of the MT4 and MT5 trading platforms, which can be used on iPhones, iPad, Android, or Windows system devices. You can easily download the apps from the relevant app storesto access your trading accounts and check trading positions on the go.
Mobile trading allows you to manage your accounts from portable devices like smartphones and tablet PCs. In MetaTrader 4, mobile trading offers a great variety of analytical options and a graphical display of quotes in addition to complete trade account management.
Using mobile terminals in trading offers a convenient way to keep up with your accounts when you don’t have access to a desktop computer. Wherever you are, you can keep abreast with the market’s latest developments, analyze them and perform trading operations at any time.
Other trading tools
The broker also provides traders with some other helpful trading tools, including the following:
Economic calendar
The economic calendar shows a real-time forecast of market-moving news events. It is an important tool for trading in the Forex market. Successful traders use this tool to choose the optimum trading time and to develop strategies based on fundamental market analysis and market-moving news and events.
The broker’s economic calendar covers 360 events, and for each, they explain why that event is significant, where the data comes from, and how it will affect the market.
Market Signals
4XC constantly monitors the most popular assets to provide traders with lucrative market entry opportunities completely free of charge for their traders.
Account Types
4XC strives to satisfy all client’s needs by providing clients with three live trading account options. The accounts vary in lot sizes, minimum deposit amounts, and other features. While choosing the account that suits you best, you must consider different points, including the amount of your investment, risk tolerance, and more.
The available live trading account options at 4XC include the following:
Standard Account
This is the broker’s primary account option; it is designed specifically for new traders. The Standard account has a minimum deposit requirement of $10 and offers floating spreads that start from 0.8 pips. The maximum leverage on the Standard account is capped at 1:500.
ProAccount
The Pro account has a minimum deposit requirement of $100. It allows clients to trade up to 74 currency pairs, 4 CFDs, and 295 stocks on the MT4 and MT5 trading platforms. It offers low tight spreads from 0.2 pips and a commission fee of $2 per lot side. Users also enjoy the leverage of up to 1:500.
VIP Account
The VIP account is an advanced live trading account option at 4XC. The account has a minimum deposit of $25,000. It has a maximum leverage of 1:500 and tight spreads starting from0.6 pips. The VIP account is only accessible to individuals who are willing to trade with huge amounts.
Signing Up
To open a trading account with 4XC, click the “Live Account” button at the top right corner of the broker’s website. You will be directed to the online application page, where you will be required to key in your name; provide your email, phone number, and date of birth;and create a password, as you can see in the form below:
After completing the form, click the “Register”button to submit. The broker will require you to submit your means of identification (a government-issued ID) and proof of address (a utility bill or bank statement not more than three months old) to verify your account.
Deposit and Withdrawals
4XCallows traders to deposit and withdraw funds to and from their online trading accounts using the following secure payment options: Wire Transfer (Local and International), Credit Debit Card, Skrill, SticPay, American Express, Perfect Money, Neteller, PayPal, andmore.
Due to anti-money laundering regulations worldwide, deposits and withdrawals must be made from and paid to the same person as the trading account holder. No third-party payments are allowed to prevent money laundering.
Deposits and withdrawals may be made 24 hours a day, 7 days a week. If a deposit or withdrawal is not carried out instantly, it will be completed within 24 hours.
The transaction fees vary with the payment methods, and some of the methods may not be available in your particular country. So, you have to contact the support team for more details.
Instruments
4XCoffers traders a generous selection of financial instruments across different asset classes. Clients can trade up to 74 currency pairs, 24 CFDs, and 295 stocks using the available trading accounts. The multiple trading instruments allow you to diversify your portfolio to limit risks.
Commissions and Fees
4XC charges zero commission on most live trading account types. However, the Pro account charges a commission fee of $2 per lot per side. The broker also charges withdrawal fees and an inactivity fee on dormant accounts.
Available Leverage
Leverage enables you to increase your position size by borrowing from the broker, but while it helps you increase your potential profits, it can also magnify losses if misused.
4XC offers a leverage of up to 1:500.
Analysis and Education
To help traders make informed trading decisions, the broker makes a good selection of educational resources available on its website. The available educational resources include learning articles, trading guides, ebooks, and market news that keeps traders up-to-date with the latest happenings in the financial markets.
Customer Service
4XC provides clients with a responsive client support team that can respond to their general, technical, and account-based inquiries. The support team can be reached via various contact channels, including live chat, email, callback form, and telephone.
Reputation amongst Traders
The broker has receivedmany reviews on multiple trading forums andwebsites. On Trustpilot, for example, it got 4.6 out of 5 based on 404 reviews.Many traders praised the broker for its responsive support team and user-friendly mobile app.
Awards
4XCstands out for being incredibly attentive toward its clients. The broker has bagged several industry awards for customer satisfaction, execution and speed.
Can beginners trade with 4XC?
Yes, beginners can easily trade with 4XC since the broker provides training resources and offers a demo account to help new traders familiarize themselves with its trading platforms. Moreover, a minimum deposit of $10 is beginner friendly.
Summing Up
4XC is an experienced broker that offers advanced trading platforms and a suite of useful trading tools. It provides traders with various educational resources and offers zero commission charges, multiple account options, high leverage, and more. The minimum deposit required to start trading is $10. But the broker does not have a tier-1 regulation.
